Published Date: 31-Oct-2022
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According to a new report, published by KBV research, The Global Utilities Asset Management Market size is expected to reach $8.4 billion by 2028, rising at a market growth of 11.1% CAGR during the forecast period.
The Software market is exhibiting a CAGR of 11.3% during (2022 - 2028). Businesses must manage and track more resources than ever in the digital era. With the proliferation of mobile devices in the workplace, the rising complexity of cloud technologies, the license of software, and the increased frequency of updates, the administration, and tracking of IT assets have grown significantly more challenging.
The Public Utilities market is leading the Global Utilities Asset Management Market by Utility Type in 2021; thereby, achieving a market value of $5.1 billion by 2028. Utility businesses build public utilities to give service to a region. The public utility provider owns and maintains these lines regardless of whether they're located on public or private land. Typical public utilities include gas, electricity, and power.
The Sub-station market is showcasing a CAGR of 11.7% during (2022 - 2028). A substation is a system component for electrical generation, transmission, and distribution. Substations change the voltage from high to low, or vice versa, and perform a variety of other crucial tasks. Between the producing station and the customer, there may be many substations with varying voltage levels.
The North America market dominated the Global Utilities Asset Management Market by Region in 2021; thereby, achieving a market value of $2.7 billion by 2028. The Europe market is poised to grow at a CAGR of 10.4% during (2022 - 2028). Additionally, The Asia Pacific market would witness a CAGR of 12% during (2022 - 2028).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of General Electric (GE) Co., ABB Group, Siemens AG, Eaton Corporation, IBM Corporation, Schneider Electric SE, Fujitsu Limited, IFS AB, Getac Technology Corporation and S&C Electric Company.
By Utility Type
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