europe utility communication Market

The utility communication market in Europe was valued at US$ 2510.5million in 2019and is projected to reach US$ 7895.5 million by 2027; it is expected to grow at a CAGR of 15.7% from 2020 to 2027.

In European countries, communication solutions play an integral role in various industries such as oil & gas, energy and power, and water utilities. Owing to the increasing adoption of technology-based solutions among businesses, the demand for advanced communication solutions is growing in Europe.Moreover, the growth in offshore drilling activities is opportunistic for market growth in Europe. These factors play a vital role in boosting the utility communication market in Europe.

Based ontechnology, the utility communication market was led by wired segment.Power Line Carrier (PLC) communication has gained the confidence of wired communication network users when it comes to robustness in access, efficiency, and security with anadvancement of efficient PLC technologies led by PRIME PLC over the past decade, and the latest development of PRIME 1.4 technology.

Overall size of the Europeanutility communication market has been derived using primary and secondary sources. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the European utility communication market. It also provides an overview and forecast for the Utility communication based on all the segmentation provided with respect to the European region. Also, primary interviews were conducted with industry participants and commentators in order to validate and analyze the data. The participants who take part in such a process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the European utility communication industry. ABB Ltd, Fujitsu Limited, General Electric Company, Honeywell International Inc, and Rockwell Automation Inc, are among the key players present in the European utility communication market.