August, 14th - 3 months ago
The study presented here is based on a report by Envision Inteligence (EI) titled “Global Utilities Market (By Type, By End-User Industry & By Geography) - Market Industry Analysis, Segmentation, Size, Share, Growth, Trends and Forecast 2019 – 2025". According to the global utilities, market size was valued at $4,575 billion in 2017 and is expected to reach $8,855 billion by 2025. Global utilities market forecast during 2019-2025 is expected to grow with a CAGR of 8.60% Introduction: The term utilities refer to electricity, natural gas, water and sewerage services consumed by the public, hospitals, schools and other institutions, agriculture, factories and commercial establishments. In some countries, these services are provided commercially by national, state or municipal governments or by cooperatives in many ways. However, they are provided by the private sector Rising Solar Energy In Industries Is Driving The Global Utilities Market Growth: Regarding utilities market, Power and energy market is owing to increase in day by day. In the aspect of Renewable energy. Solar energy is projected to be the fastest-growing sector in renewable energy. Among all the benefits of solar panels, the most important thing is that solar energy involves low maintenance cost increases the global utilities market worth. Electricity Segment Accounted For Dominant Share In Utilities Market In 2017: Concerning type, the market is segmented into electricity, natural gas, Water and Sewerage. Among them, electricity has the most significant market share among other types. Because one of the significant trends shaping the utilities market includes energy storage in batteries. Electric power generation companies are gradually using batteries to store solar energy during daylight hours. These systems minimise the need for capital investments on power generation plants, thereby enhancing spread and distribution efficiencies and thus reduce operational costs. Asia Pacific & North America Accounting For Significant Market Share In The Global Utilities Market: According to the global utilities market strategies, Asia Pacific was the largest region in the utilities market in 2017, accounting for around 39% market share. This was mainly due to present to a large number of households and industries in Asian countries such as China, India and Japan. As these sectors are expanding, the need for utilities in this region. North America is projected to be a significant region, owing to the presence of a substantial industrial sector. The global utilities market share is accounted for over 31% in 2015 and is estimated to reach over USD XX billion by 2025. These are the reasons driving the growth of the market in these regions. According to global utilities market outlook, the market share of unorganised players is expected to increase in coming years in the global forecast period 2019-2025. The utilities market analysis is provided for the international markets including development trends, competitive landscape analysis, and key regions development status. By Type: Electricity Natural gas Water Sewerage By End-User Industry Public Hospitals Schools Agriculture Industrial The global utilities market research report provides an in-depth and full analysis of the key technological and product development aspects for all the key companies operating in the market in each region. Key Players: Accenture plc, Cognizant Technology Solutions Corporation Cap Gemini S.A. Siemens AG., General Electric Company SAP SE.