Industrial, Manufacturing & Heavy Industry Market News

Utility asset management market scrutinized in new research

The utility asset management market is projected to reach USD 4.09 billion by 2022, at a CAGR of 8.26%, 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.

- Advertisement -
- Membership expired -

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.

The transformer sub-segment, within the application segment, is expected to grow at the highest CAGR, from 2017 to 2022

The transformer sub-segment is estimated to be the largest market in the application segment during the forecast period.

- Advertisement -
- Membership expired -

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.

Download PDF Brochure: goo.gl/rUxok5 Make an Inquiry about this news

The component segment is divided into hardware and software sub-segments. The sensors in hardware and equipment/component management market in software, led the Utility Asset Management Market in 2017, and are expected to dominate the Utility Asset Management Market during the forecast period.

The sensors in the hardware segment provide the data related to various utility assets, based on various parameters, such as, voltage, current, heat, temperature, and frequency. These data provided by sensors are used by equipment/component management system to provide actionable information which is used to form a predictive maintenance schedule depending on the health of assets.

Countries, such as the US and Germany are expected to drive the market demand, mostly because of the ongoing investments in grid modernization.

 

This report provides pin-point analysis for changing competitive dynamics

It provides a forward looking perspective on different factors driving or restraining market growth

It provides a six-year forecast assessed on the basis of how the market is predicted to grow

It helps in understanding the key product segments and their future

It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors

It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments

It provides distinctive graphics and exemplified analysis of major market segments

Download PDF Brochure: goo.gl/rUxok5 Make an Inquiry about this news

News From

Key Market InsightsKey Market Insights
Category: Market Research Publishers and RetailersCompany profile: Key Market Insights is a stand-alone organization with a solid history of advancing and exchanging market research reports and logical surveys delivered by our numerous transnational accomplices, which incorporate both huge multinationals and littler, more expert concerns. Our online stage, KMInsights.com, offers an unmatched gathering of market examination reports, organization audits, databooks, articles, periodical distributions, databases, on-line endorser administrations, and a great deal m ...

For more information:

Make an Inquiry about this report HERE!
  • www.kminsights.com/reports/utility…st-to-2022-168451
  • goo.gl/rUxok5