Smart Utilities Management Market Share, Insights by 2031

August 20, 2021

Smart utilities are a type of companies working in the electric, gas, and water sectors, which possess sensors across their grids to deliver services more efficiently and to analyze their operations
Smart utilities use the Internet of things (IoT) technology for connected devices and also adopt latest digital technologies in communications, software, computing, and mapping for their businesses
Smart utility management system is a solution that can be employed to manage various utilities such as smart gas management, smart water management, and smart grid management

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Projects such as smart cities and smart grids are adopting smart utilities management systems. Smart utilities are heavy users of Internet of Things (IoT) and hence, integration of cloud technologies is expected to offer significant opportunities for the market in the telecommunications sector.
Increased usage of innovative solutions, such as smart meters, and increased investments in digital infrastructure are boosting the smart utility management system market
Rise in investment in smart grid, upgrade of aging utility infrastructure, and increased need of resource management are major factors fueling the smart utility management market

Asia Pacific is leading the global smart utilities management market, as countries such as Australia, Japan, and South Korea are expanding their utility network systems
Expansion of cities and increase in urbanization, widespread adoption of green technology, and cost effectiveness in electricity are major factors that are boosting the smart utilities management market in Asia Pacific

Increased energy demand across the world, rising distribution of energy resources, and need for efficient and reliable power are expected to offer considerable opportunities to the smart utility management market
The Government of India has launched 100 smart city projects and hence, water and city gas distribution utilities also have to adopt latest technologies for improved operational efficiency, which creates significant opportunities for the smart utility management in Asia Pacific