The global demand for Utility Asset Management Market is presumed to reach the market size of nearly USD 8.34 BN by 2028 from USD 3.65 BN in 2021 with a CAGR of 10.9% under the study period 2022 - 2028.
Utility Asset Management (UAM) refers to the process of maintaining, upgrading and operating the infrastructure and equipment that are used to deliver utility services such as electricity, water, and gas. This includes power plants, transmission and distribution networks, water treatment plants, and natural gas pipelines. UAM aims to ensure that these assets are reliable, efficient, and cost-effective while also ensuring compliance with safety and environmental regulations. UAM also includes implementing advanced technologies such as smart grids, asset management software, and advanced metering infrastructure (AMI) to improve the efficiency and effectiveness of the assets.
The ageing infrastructure of utility assets is a major driver of the UAM market. As assets age, they become less reliable and less efficient, which increases the need for maintenance and upgrades. The growing global population and increasing industrialization are leading to an increase in energy consumption, driving the demand for UAM services. Moreover, implementing smart grid technology is a key driver of the UAM market. In addition, the increasing investment in renewable energy sources like solar and wind power is driving the demand for UAM services. However, the high costs and lack of skilled labour may limit the market growth.
The research report covers Porter’s Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of utility asset management. The growth and trends of utility asset management industry provide a holistic approach to this study.
This section of the utility asset management market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By Utility Type
- Distribution Lines
- Public Utility
- Private Utility
This section covers the regional outlook, which accentuates current and future demand for the Utility Asset Management market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Utility Asset Management Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the utility asset management market include ABB Ltd. (Switzerland), Siemens AG (Germany), General Electric Company (U.S.), S & C Electric Company (U.S.), Sentient Energy Inc. (U.S.), Aclara Technologies LLC (U.S.), Emerson Electric Co. (U.S.), Enetics Inc. (U.S.), Lindsey Manufacturing Co. (U.S.), Netcontrol Oy (Finland), Cniguard Ltd. (U.K.), Vaisala OYJ (Finland). This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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