Global Utility Asset Management Market (2023-2028) Competitive Analysis, Impact of Covid-19, Ansoff Analysis

Maximizing Efficiency and Cost Savings through Utility Asset Management

• The lack of technical expertise in utility asset management is a significant challenge for many utility companies. With the increasing complexity of assets and the emergence of new technologies, it can be difficult for companies to find personnel with the necessary skills and knowledge to manage their assets effectively. This challenge is particularly acute in industries such as utilities, where assets are often specialized and require high technical expertise to manage effectively.

Market Segmentations

• The Global Utility Asset Management Market is segmented based on Components, Utility Type, Applications, and Geography.
• By Components, the market is classified into Hardware, Software, and Services. The hardware segment holds the largest market share in the Utility Asset Management Market due to several reasons. Hardware components, such as sensors, meters, and communication devices, are essential for collecting real-time data from utility assets. They enable remote monitoring, control, and diagnostics, improving efficiency. Additionally, hardware like power infrastructure equipment and tracking devices play crucial roles in asset management and maintenance, contributing to the dominant market share of the hardware segment.
• By Utility Type, the market is classified into Public Utility and Private Utility. The public utility segment typically has the largest market share in the utility asset and services management market. This is because public utilities, such as government-owned electricity, water, and gas providers, have extensive infrastructure networks and a large customer base. They require robust asset management solutions to ensure reliable service delivery, optimize operational efficiency, and meet regulatory requirements. Additionally, public utilities often have larger budgets and resources to invest in advanced asset management technologies and services.
• By Applications, the market is classified into Transformer, Sub-Station, Transmission, and Distribution Lines. The transmission segment has seen significant growth in the utility asset management market. This is due to the increasing focus on renewable energy and the need for transmission infrastructure to support the integration of renewable energy sources into the electrical grid. Additionally, the aging transmission infrastructure in many regions has created a need for modernization and upgrades, which has driven demand for transmission asset management solutions.
• By Geography, the market is classified into the Americas, Europe, Middle-East & Africa, and Asia-Pacific. Americas dominate the utility asset management market. The market growth in this region is attributed to several factors, such as the increase in digitalization and the adoption of IoT sensors by the utility sector. Moreover, the presence of key players provides growth opportunities.

Recent Development

• Emerson’s New Analytics Software Automates Utilities Monitoring and Reporting for Clean-in-Place Applications. - November 2022
• Eaton Corp. partnered with L.G. Electronics to provide flexible load management for distributed renewable energy applications. Through this collaboration, Eaton Corporation has integrated its smart power management technology, including its smart circuit breakers and E.V. chargers, with the LG ThinQ Energy mobile app and L.G. power management solutions to simplify power management Load.- February 2022

Company Profiles

Countries Studied

• America (Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru, United States, Rest of Americas)
• Europe (Austria, Belgium, Denmark, Finland, France, Germany, Ireland, Italy, Luxemburg, Netherlands, Norway, Poland, Russia, Spain, Sweden, Switzerland, United Kingdom, Rest of Europe)
• Middle-East and Africa (Egypt, Israel, Nigeria, Qatar, Saudi Arabia, South Africa, United Arab Emirates, Rest of MEA)
• Asia-Pacific (Australia, Bangladesh, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Sri Lanka, Thailand, Taiwan, Rest of Asia-Pacific)

Competitive Quadrant

Ansoff Analysis

• The report presents a detailed Ansoff matrix analysis for the Global Utility Asset Management Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.
• The publisher analyses the Global Utility Asset Management Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.
• Based on the SWOT analysis conducted on the industry and industry players, the publisher has devised suitable strategies for market growth.

Why buy this report?

• The report offers a comprehensive evaluation of the Global Utility Asset Management Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
• The research report also provides a detailed market size analysis and projections in volume and value terms. The projections are calculated using verified research methodologies.
• Excel data sheet for the market size will also be provided with the report.
• The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
• The report includes an in-depth market analysis using Porter’s 5 forces model, PESTLE Analysis, and the Ansoff Matrix. In addition, the impact of COVID-19 on the market is also featured in the report.
• The report includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
• The report includes Self-Assessment Form, which helps customers evaluate their position in the market compared to their competitors
• The report offers customized research - tailored uniquely to our customers with a quick turnaround time. We offer a 15% customization option at no extra charge to all our clients for any of our syndicated reports.

Report Highlights:

• A complete analysis of the market, including the parent industry
• Important market dynamics and trends
• Impact Analysis - a comprehensive assessment to confront risk and make strategic & operational decisions to counter the changes in the market environment.
• Market segmentation
• Competitive Analysis: Comparative analysis of competitor
• Historical, current, and projected size of the market based on value and volume
• Market size of the US states
• Market shares and strategies of key players
• Recommendations to companies for strengthening their foothold in the market