Utilities market size expected to reach USD 8.1 trillion by 2026

Global investments in renewable energy and smart utilities are some of the main factors behind the projected 7.9% CAGR between 2021 and 2026.

The global utilities market was estimated at around USD 5.49 trillion in 2021 and will only increase as the time goes on, according to the “Utilities Global Market Report 2022” by The Business Research Company.

It is no surprise that smart technologies are responsible for the growth of the utilities market as smart utilities bring numerous benefits, not only for municipalities but also for the private sector.

In the United States, Forbes points out that the government plans to invest “at least USD 80 billion into the energy and utilities industry with the expectation of making it more resilient to extreme climate changes,” as part of the U.S. Infrastructure Investment and Jobs Act.

Smart technologies offer sustainable solutions for utilities with remote and real-time data monitoring and management, contributing to water conservation and reduced carbon emissions.

You can learn more about our certified and market-proven Smart Utilities Platform here: https://cthings.co/solutions/sup/main