Digital Utility Market Size, Share & Trends Analysis Report By Technology (Hardware, Integrated Solutions), By Network (Transmission & Distribution, Retail, Generation), By Region, And Segment Forecasts, 2023 - 2030
Digital Utility Market Growth & Trends
The global digital utility market size is expected to reach USD 396.36 billion by 2030, according to a new study by Grand View Research, Inc., expanding at a CAGR of 9.6% from 2023 to 2030. Technological advancements are leading to the digitalization of businesses, including the power industry. The power industry is increasingly realizing the importance of digital technologies, which in turn is anticipated to augment the market over the forecast period. Companies have recognized the benefits of digitalization and are now focusing on two key areas, namely customer engagement and improvement of operations and productivity, thus transforming the way businesses are conducted in the power industry.
The growth of the digital utility market is driven by factors such as stringent regulatory norms and an increasing number of distributed and renewable power generation projects. The demand for digital utility solutions is increasing rapidly owing to benefits provided by technologies such as digital asset management, digital utility maturity assessment, and digital utility enterprise architecture.
The North America region commanded the leading revenue share in 2016 owing to factors such as rapid technological advancements, enhanced network connectivity, and high adoption rate of digital services. Some of the prominent companies operating in the market are ABB Ltd., IBM Corporation, International Business Machine Corporation, Microsoft Corporation, Oracle Corporation, and SAP SE.
Digital Utility Market Report Highlights
- The hardware segment is likely to gain the highest share in the market over the forecast period. Hardware is extensively used in next-generation equipment such as smart meters and transformers.
- The transmission & distribution segment is poised to dominate the market over the forecast period. Digital utility solutions enable users to effectively perform transmission & distribution activities.
- North America was the leading revenue contributor in 2022 owing to an increasing number of renewable power plants and rising investments in electrical infrastructure.
- Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.1.1. Technology
- 1.1.2. Network
- 1.1.3. Regional scope
- 1.1.4. Estimates and forecast timeline
- 1.2. Research Methodology
- 1.3. Information Procurement
- 1.3.1. Purchased database
- 1.3.2. GVR’s internal database
- 1.3.3. Secondary sources
- 1.3.4. Primary research
- 1.3.5. Details of primary research
- 1.4. Information or Data Analysis
- 1.5. Market Formulation & Validation
- 1.6. Model Details
- 1.7. List of Secondary Sources
- 1.8. List of Primary Sources
- 1.9. Objectives
- Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segment Outlook
- 2.2.1. Technology outlook
- 2.2.2. Network outlook
- 2.2.3. Regional outlook
- 2.3. Competitive Insights
- Chapter 3. Digital Utility Market Variables, Trends & Scope
- 3.1. Market Lineage Outlook
- 3.2. Industry Value Chain Analysis
- 3.3. Market Dynamics
- 3.3.1. Market driver analysis
- 3.3.2. Market restraint analysis
- 3.3.3. Market opportunity analysis
- 3.4. Digital Utility Market Analysis Tools
- 3.4.1. Industry Analysis - Porter’s
- 3.4.1.1. Supplier power
- 3.4.1.2. Buyer power
- 3.4.1.3. Substitution threat
- 3.4.1.4. Threat of new entrant
- 3.4.1.5. Competitive rivalry
- 3.4.2. PESTEL Analysis
- 3.4.2.1. Political landscape
- 3.4.2.2. Technological landscape
- 3.4.2.3. Economic landscape
- Chapter 4. Microneedle Drug Delivery System: Technology Estimates & Trend Analysis
- 4.1. Digital Utility Market: Key Takeaways
- 4.2. Digital Utility Market: Movement & Market Share Analysis, 2022 & 2030
- 4.3. Hardware
- 4.3.1. Hardware market estimates and forecasts, 2017 to 2030 (USD Billion)
- 4.4. Integrated Solutions
- 4.4.1. Integrated Solutions market estimates and forecasts, 2017 to 2030 (USD Billion)
- Chapter 5. Digital Utility: Network Estimates & Trend Analysis
- 5.1. Digital Utility Market: Key Takeaways
- 5.2. Digital Utility Market: Movement & Market Share Analysis, 2022 & 2030
- 5.3. Generation
- 5.3.1. Generation market estimates and forecasts, 2017 to 2030 (USD Billion)
- 5.4. Transmission & Distribution
- 5.4.1. Transmission & Distribution market estimates and forecasts, 2017 to 2030 (USD Billion)
- Chapter 6. Digital Utility Market: Regional Estimates & Trend Analysis
- 6.1. Regional Outlook
- 6.2. Digital Utility Market by Region: Key Takeaway
- 6.3. North America
- 6.3.1. North America Market estimates and forecasts, 2017 to 2030 (Revenue, USD Billion)
- 6.3.2. U.S.
- 6.3.2.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Billion)
- 6.3.3. Canada
- 6.3.3.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Billion)
- 6.4. Europe
- 6.4.1. Europe Market estimates and forecasts, 2017 to 2030 (Revenue, USD Billion)
- 6.4.2. UK
- 6.4.2.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Billion)
- 6.4.3. Germany
- 6.4.3.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Billion)
- 6.4.4. France
- 6.4.4.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Billion)
- 6.5. Asia Pacific
- 6.5.1. Asia Pacific Market estimates and forecasts, 2017 to 2030 (Revenue, USD Billion)
- 6.5.2. Japan
- 6.5.2.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Billion)
- 6.5.3. China
- 6.5.3.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Billion)
- 6.5.4. India
- 6.5.4.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Billion)
- 6.5.5. Australia
- 6.5.5.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Billion)
- 6.5.6. South Korea
- 6.5.6.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Billion)
- 6.6. Latin America
- 6.6.1. Latin America Market estimates and forecasts, 2017 to 2030 (Revenue, USD Billion)
- 6.6.2. Brazil
- 6.6.2.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Billion)
- 6.6.3. Mexico
- 6.6.3.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Billion)
- 6.7. MEA
- 6.7.1. MEA Market estimates and forecasts, 2017 to 2030 (Revenue, USD Billion)
- 6.7.2. Saudi Arabia
- 6.7.2.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Billion)
- 6.7.3. South Africa
- 6.7.3.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Billion)
- 6.7.4. UAE
- 6.7.4.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Billion)
- Chapter 7. Competitive Landscape
- 7.1. Recent Developments & Impact Analysis, By Key Market Participants
- 7.2. Market Participant Categorization
- 7.2.1. ABB
- 7.2.1.1. Company overview
- 7.2.1.2. Financial performance
- 7.2.1.3. Product benchmarking
- 7.2.1.4. Strategic initiatives
- 7.2.2. Capgemini
- 7.2.2.1. Company overview
- 7.2.2.2. Financial performance
- 7.2.2.3. Product benchmarking
- 7.2.2.4. Strategic initiatives
- 7.2.3. General Electric
- 7.2.3.1. Company overview
- 7.2.3.2. Financial performance
- 7.2.3.3. Product benchmarking
- 7.2.3.4. Strategic initiatives
- 7.2.4. Microsoft
- 7.2.4.1. Company overview
- 7.2.4.2. Financial performance
- 7.2.4.3. Product benchmarking
- 7.2.4.4. Strategic initiatives
- 7.2.5. Oracle
- 7.2.5.1. Company overview
- 7.2.5.2. Financial performance
- 7.2.5.3. Product benchmarking
- 7.2.5.4. Strategic initiatives
- 7.2.6. IBM Corporation
- 7.2.6.1. Company overview
- 7.2.6.2. Financial performance
- 7.2.6.3. Product benchmarking
- 7.2.6.4. Strategic initiatives
- 7.2.7. Siemens
- 7.2.7.1. Company overview
- 7.2.7.2. Financial performance
- 7.2.7.3. Product benchmarking
- 7.2.7.4. Strategic initiatives
- 7.2.8. SAP SE
- 7.2.8.1. Company overview
- 7.2.8.2. Financial performance
- 7.2.8.3. Product benchmarking
- 7.2.8.4. Strategic initiatives
- 7.2.9. Eaton Corporation plc
- 7.2.9.1. Company overview
- 7.2.9.2. Financial performance
- 7.2.9.3. Product benchmarking
- 7.2.9.4. Strategic initiatives
- 7.2.10. Schneider Electric
- 7.2.10.1. Company overview
- 7.2.10.2. Financial performance
- 7.2.10.3. Product benchmarking
- 7.2.10.4. Strategic initiatives
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