DUBLIN--(BUSINESS WIRE)--The "Utility Asset Management Market by Application (Transformer, Sub-Station, Transmission & Distribution Lines), Component (Hardware, Software), Utility Type (Public Utility, Private Utility), and Region - Global Forecast to 2022" report has been added to Research and Markets' offering.
The Utility Asset Management Market is Projected to Reach USD 4.09 Billion By 2022, at a CAGR of 8.25%, from 2017 to 2022.
Increasing investments in grid modernization, requirement for energy efficiency, reliable power, increasing grid complexity, and aging infrastructure are the major drivers of the utility asset management market.
The intensive capital requirement for the sensor technology could be the major restrain for the utility asset management market. Advanced communication network in the grid is still not prevalent in many utilities. Hence, utilities are reluctant to invest on additional infrastructure for asset monitoring and overhaul activities.
This market is expected to grow in the future as a result of increasing investments being made by utilities in grid modernization in North America and other parts of the world. Moreover, Europe and some countries of Asia Pacific, such as Australia, India, and China also present opportunities as energy efficiency and reliable power generation is a prime consideration for utilities in these regions. The transformer sub-segment is poised to grow significantly during the forecast period. This is likely to drive the utility asset management market in the application segment.
The market in Asia Pacific is expected to be the fastest growing market for utility asset management, closely followed by Europe. The market in Asia pacific is primarily driven by economies, such as China, Japan, and India. The government of these economies is looking forward to invest heavily in grid modernization. Apart from these countries, the Australian government has also begun to invest in its T&D network to improve its energy efficiency.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Utility Asset Management Market, By Application
7 Utility Asset Management Market, By Component
8 Utility Asset Management Market, By Utility Type
9 Utility Asset Management Market, By Region
10 Competitive Landscape
11 Company Profiles
- ABB Ltd
- Aclara Technologies Llc
- Cniguard Ltd
- Emerson Electric Co.
- Enetics Inc.
- General Electric Company
- Lindsey Manufacturing Co.
- Netcontrol Oy
- S&C Electric Company
- Sentient Energy, Inc.
- Siemens Ag
- Vaisala Oyj
For more information about this report visit https://www.researchandmarkets.com/research/bwgnf9/utility_asset