The industrial utility communication market is projected to reach USD 4.2 billion by 2028, at a CAGR of 6.0% from USD 3.1 billion in 2023. The industrial utility communication market is experiencing robust growth due to several key factors and opportunities. The market growth is driven by factors such as growing demand for automation and industrial wireless communication systems. The exponential growth of smart infrastructure, coupled with the demand for cloud-based communication solutions further fuels the expansion of the industrial utility communication market.
The key players in this market are General Electric (US), Siemens (Germany), Schneider Electric (France), Hitachi Energy Ltd. (Switzerland), FUJITSU (Japan), Motorola Solutions, Inc. (US), Telefonaktiebolaget LM Ericsson (Sweden), Nokia (Finland), Itron Inc. (US), Cisco Systems, Inc. (US), Emerson Electric Co. (US) etc. These companies are strong in their home regions and explore geographic diversification alternatives to grow their businesses. They focus on increasing their market shares through new product launches and other expansions.
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General Electric
General Electric Co., established in 1892 and headquartered in Boston, Massachusetts, USA, operates across various sectors, including commercial and military aircraft engines, renewable energy generation equipment, grid solutions, and diverse power generation equipment encompassing gas, steam, and nuclear systems. The company functions through distinct segments: Aerospace, Healthcare, Renewable Energy, and Power.
Among its segments, Grid Solutions, part of the GE Renewable Energy division, operates globally with a workforce of over 13,000 employees. It specializes in providing equipment, systems, and services to global power utilities and industries, ensuring the efficient and reliable transmission of power from generation sources to end consumers. The company has 172,000 employees, it has a strong presence in US, with operations worldwide and revenue of USD 76,555 million in 2022.
Siemens
Siemens is a technology conglomerate deeply involved in automation, digitalization for industries, infrastructure for buildings, energy systems, rail transport solutions, and medical technology, including digital healthcare services. Established in 1847, Siemens is headquartered in Munich, Germany. It operates through distinct segments: Digital Industries, Smart Infrastructure, Mobility, Siemens Healthineers, and Siemens Financial Services
In 2022, Siemens achieved remarkable revenue of approximately USD 75,685 million, solidifying its position as a leading player in Europe’s industrial utility communication market. Moreover, the company has 311,000 employees and has a strong presence in European markets.
Schneider Electric
Schneider Electric SE specializes in the digital evolution of energy management and automation. Established in 1836 and headquartered in Rueil-Malmaison, France, the company operates through two primary segments: Energy Management and Industrial Automation.
Their aim is to become a digital collaborator focused on sustainability and efficiency. They lead digital evolution by merging top-tier processes and energy technologies, linking end-points to the cloud through products, controls, software, and services, offering comprehensive lifecycle solutions. This integration facilitates unified corporate management across homes, buildings, data centers, infrastructure, and industries. They have 135,000 plus employees worldwide and has a global presence. It achieved a revenue of USD 35,936 million in year 2022.
Hitachi Energy Ltd.
Hitachi Energy provides innovative solutions and services across the utility, industry, and infrastructure sectors, catering to the entire value chain. Collaborating with customers and partners, they lead technological advancements and facilitate the essential digital transformation necessary to expedite the energy transition towards a carbon-neutral future.
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With a strong history and extensive installed base across over 140 countries, Hitachi Energy, based in Switzerland, employs approximately 40,000 individuals across 90 countries. The company has a strong presence in Japan followed by Europe and has a revenue of USD 58,103 million in year 2022.
Motorola Solutions, Inc.
Motorola Solutions, Inc. specializes in communication infrastructure, devices, software, and services. It operates through two key segments: Products and Systems Integration, and Software and Services. Established in 1928, it is headquartered in Chicago, IL.
With a workforce exceeding 20,000 individuals, the company engineers and links technologies to safeguard individuals, assets, and locations. Their focus enables crucial cooperation between public safety agencies and businesses, fostering a proactive stance on safety and security. The company has a major presence in US and achieved a revenue of USD 9,112 million in 2022.
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