The global utility asset management market will derive growth from the increasing use of advanced concepts such as the IoT and AI. According to a report by Fortune Business Insights, titled “Utility Asset Management Market Size, Share & Industry Analysis, By Utility Type (Public Utility, Private Utility), By Component (Hardware, Software), By Application (Transformer, Sub-Station, Transmission & Distribution lines) and Regional Forecast, 2019-2026,” the market will benefit from the increasing investment in product R&D.
The report provides a thorough analysis of the global utility asset management market across five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. It analyzes the ongoing trends in each of these regions and highlights the products that have witnessed the highest demand. Besides this, it highlights the factors that have had the highest impact on the market in recent years. The competitive landscape has been discussed in detail and predictions have been made with respect to leading companies and the strategies adopted by these companies. Moreover, the report includes market figures for a forecasted period of 2019-2026.
Key Questions Answered:
What are the key technological and Utility Asset Management Market trends shaping the market?
- What are the key opportunities in the market?
- What are the key companies operating in the market?
- Which company accounted for the highest market share?
- Why Choose Fortune Business Insights?
- What is the market size and growth rate of the global and regional market by various segments?
- What is the market size and growth rate of the market for selective countries?
- Which region or sub-segment is expected to drive the market in the forecast period?
- What Factors are estimated to drive and restrain the Utility Asset Management Market growth?
North America Accounts for the Largest Market Share; Upgradation in Conventional Grid Infrastructures Will Aid Growth
The market is segmented on the basis of regional demographics into North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among these regions, the market in North America currently holds the largest utility asset management market share in the coming years. Several large scale companies in this regions are looking to upgrade older products or replace them with newer ones. Besides North America, Asia Pacific will exhibit a considerable CAGR in the coming years, driven by the growing energy and utility demand in emerging countries across this region.
Some of the leading companies that are operating in the global utility asset management market are:
- Sentient Energy
- DNV GL
- Alcara Technologies
- Black & Veatch
- ABS Group
- Schneider Electric
- Fujitsu UK
IBM’s IoT-integrated Asset Incentive System Projected to Witness Huge Demand
The report identifies a few of the major industry developments of recent times and discusses their impact on a global scale. The integration of advanced concepts in utility management systems is a growing trend among major companies across the world. The use of concepts such as the IoT and artificial intelligence has allowed improved product performances and enhanced efficacies. In February 2019, IBM introduced a new asset management system portfolio that consists of products integrated with advanced concepts such as the internet of things. The company plans to reduce the risks of failure that were associated with these devices and claims that the newer products will possess a much better operational efficacy than its previous products.
Noteworthy Industry Developments:
March 2019: Trimble has announced that it has completed the acquisition of Azteca Systems LLC. The company is a leading provider of enterprise asset management software for utilities.
Increasing use of smart grids and smart metering are likely to help for the better management of power services. Better infrastructural facilities are also expected to encourage growth in the market.
The increased spending on oil and gas across the world is another factor likely to drive the Utility Asset Management Market rising investments in energy efficiency projects backed by governments may also stimulate growth in the market. The penetration of renewable sources is increasing, fuelling demand for energy and is expected to drive the Utility Asset Management Market.
- By Type
- By Application
- By Geography
The information used is derived from various primary and secondary sources. It also throws light on some of the major players operating in the market. The report studies profiles of these leading companies and their share in the market. It provides insights on some of the strategies adopted by these companies to survive the competition and maintain their stronghold.
- North America (The USA and Canada)
- Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
- Asia Pacific (China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico and Rest of Latin America)
- Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)
Major Table of Content for Utility Asset Management Market:
- Executive Summary
- Market Dynamics
- Key Insights
- Global Market Analysis, Insights and Forecast, 2015-2026
- North America Market Analysis, Insights and Forecast, 2015-2026
- Europe Market Analysis, Insights and Forecast, 2015-2026
- Asia Pacific Market Analysis, Insights and Forecast, 2015-2026
- Middle East and Africa Market Analysis, Insights and Forecast, 2015-2026
- Latin America Market Analysis, Insights and Forecast, 2015-2026
- Competitive Landscape
- Company Profile
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