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Utility asset management market worth $4.09B by 2022

Utility asset management market worth $4.09B by 2022

A newly published report suggests the utility asset management market is set to grow from $2.75 billion in 2017 to $4.09 billion by 2022.

Utility asset management uses a network of hardware and software components connected in transmission and distribution lines networks to provide real-time health analysis of an asset. The advantages of utility asset management include solutions that allow for remote monitoring and data acquisition and condition monitoring for better fault detection and efficient deployment of resources.

Increased investments in grid modernization, energy efficiency and the need to reduce transmission and distribution losses, combined with increasing grid complexity are key factors driving the utility asset management market.

North America is currently estimated to be the largest market for utility asset management, with increasing investments in smart grids, aggressive energy efficiency targets and the replacement of aging utility infrastructure systems in the region driving the North American market. Asia Pacific is the fastest growing market due to growing urbanization and generation of renewable power in the region. The utility asset management markets in China, India, Japan, France, Saudi Arabia, and Brazil are expected to grow at the fastest rates during the forecast period (2017-2022).

Increasing adoption of smart grid technologies and growing urbanization and industrialization offer promising opportunities for the utility asset management market.

Our Sensorcore smart sensoring platform and suite of product solutions is a low-cost, scalable and proven solution to protection of critical infrastructure, incorporating real-time data gathering and analytics.

Jim Darroch
Jim Darroch
VP Software & Engineering

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Jim is a software development executive with 30 years’ experience in designing software and data solutions for Data/Telecoms, Industrial and IoT markets – with an emphasis on reliability, high availability, safety, and security. He has experience in building and leading software teams on a global scale for multiple large corporations (notably HP, Emerson and Honeywell) as well as several small/start-ups; establishing teams to quickly deliver innovative Software solutions.  Jim holds a B.Sc. with First Class Honours in Computer Science from Strathclyde University.
Stephen Rose
Stephen Rose
Chief Financial Officer

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30 years qualified accountant with industry based board level experience in the UK, Europe and China. Stephen is a commercially focused accountant having been group financial director for Eaglemoss Publications, an international publishing group for over 20 years. Other roles include management accountant for Porcelanosa and a consultancy role for fashion group, Jumper Retail.
Chris Quire
Chris Quire
Chief Executive Officer

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Chris is an engineer and technology executive with over 30 years of global experience in designing, manufacturing, deploying, and supporting wireless solutions in the utility and consumer electronics sectors. He was previously with Landis+Gyr and Comverge, after starting his career with Panasonic. Chris holds a MBA from Georgia State and a BEE from the Georgia Tech, as well as two patents.
Dr. Edward Klinger
Dr. Edward Klinger
Founder & Chief Strategy Officer

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Edward is an engineer with 35 years experience in creating, building and running global technology companies. He is founder of CNIguard which manufactures ruggedized sensoring systems for critical infrastructure including water, electricity, transport, oil & gas, and defense sectors. Previously he was with PwC, Perot Systems, and Pratt & Whitney, and an Adjunct Professor at McGill University. Edward holds a Ph.D. in Mechanical Engineering from McGill and an MBA from Wharton.

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