Prominent factors that are playing a key role in raising the share of the market include alteration in billing practices in power utility companies, strict regulatory requirements for power utilities, and rising investments in smart grids. In Utility communication technologies, wireless technologies; are known to be susceptible to hackers and natural disasters, and this factor is acting as a major hindrance in the growth of the utility communication market. The wireless technology type can be further segmented into RF Mesh and Mobile Network. Among both the types mentioned, the sub-segment of RF mesh technology is currently leading the market, the reason being the modernization of aging infrastructure in various developed countries.
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On the other hand, the segment of mobile network communication is also coming up as successfully, the reason being it provides a low-cost solution for examining the overall distribution automation system. The wired segment can also be further segregated into Power Line Carrier, Optic Fiber, and Ethernet. Among these, the sub-segment of power line carrier (PLC) technology has been dominating the market for a few years.
It is said that the particular segment is likely to rise at the fastest rate shortly. The main factor that is driving the segment to its peak includes the augmentation in the number of smart cities projects across the world. This particular technology performs a vital role in modern communication networks because it performs the function of transferring electrical data at a faster rate via T&D systems. Utility Communication Market size based on geography spans North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
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