Utility Asset Management Trends and Forecast
The future of the global utility asset management market looks promising with opportunities in the energy, water, and gas markets. The global utility asset management market is expected to reach an estimated $6.4 billion by 2030 with a CAGR of 8.4% from 2024 to 2030. The major drivers for this market are integration of cutting-edge technology such as data analytics, predictive maintenance tools, and the Internet of Things, stringent regulatory requirements, and growing emphasis on sustainability and utility.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Utility Asset Management by Segment
The study includes a forecast for the global utility asset management by utility type, application, and region.
Utility Asset Management Market by Utility Type [Shipment Analysis by Value from 2018 to 2030]:
• Private Utilities
• Public Utilities
Utility Asset Management Market by Application [Shipment Analysis by Value from 2018 to 2030]:
• Energy
• Water
• Gas
Utility Asset Management Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Utility Asset Management Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies utility asset management companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the utility asset management companies profiled in this report include-
• Siemens
• General Electric Company
• IBM Corporation
• Schneider Electric
• ABB Group
• Oracle Corporation
• Sensus
Utility Asset Management Market Insights
Lucintel forecasts that private utility will remain the larger segment over the forecast period due to rising trend of private investment in utility infrastructure.
Within this market, energy will remain the largest segment.
North America is expected to witness highest growth over the forecast period due to the strong technological infrastructure of the region, increased investment in the modernization of municipal networks and growing focus on the implementation of advanced asset management solutions.
Features of the Global Utility Asset Management Market
Market Size Estimates: Utility asset management market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Utility asset management market size by utility type, application, and region in terms of value ($B).
Regional Analysis: Utility asset management market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different utility type, application, and regions for the utility asset management market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the utility asset management market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the utility asset management market size?
Answer: The global utility asset management market is expected to reach an estimated $6.4 billion by 2030.
Q2. What is the growth forecast for utility asset management market?
Answer: The global utility asset management market is expected to grow with a CAGR of 8.4% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the utility asset management market?
Answer: The major drivers for this market are integration of cutting-edge technology such as data analytics, predictive maintenance tools, and the Internet of Things, stringent regulatory requirements, and growing emphasis on sustainability and utility.
Q4. What are the major segments for utility asset management market?
Answer: The future of the global utility asset management market looks promising with opportunities in the energy, water, and gas markets.
Q5. Who are the key utility asset management market companies?
Answer: Some of the key utility asset management companies are as follows:
• Siemens
• General Electric Company
• IBM Corporation
• Schneider Electric
• ABB Group
• Oracle Corporation
• Sensus
Q6. Which utility asset management market segment will be the largest in future?
Answer: Lucintel forecasts that private utility will remain the larger segment over the forecast period due to rising trend of private investment in utility infrastructure.
Q7. In utility asset management market, which region is expected to be the largest in next 5 years?
Answer: North America is expected to witness highest growth over the forecast period due to the strong technological infrastructure of the region, increased investment in the modernization of municipal networks and growing focus on the implementation of advanced asset management solutions.
Q.8 Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the utility asset management market by utility type (private utilities and public utilities), application (energy, water, and gas), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Utility Asset Management Market, Utility Asset Management Market Size, Utility Asset Management Market Growth, Utility Asset Management Market Analysis, Utility Asset Management Market Report, Utility Asset Management Market Share, Utility Asset Management Market Trends, Utility Asset Management Market Forecast, Utility Asset Management Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.