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Global Digital Utility Market

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    Report

  • 289 Pages
  • July 2023
  • Region: Global
  • BCC Research
  • ID: 5851220
Description Jump to:

Report Scope

This report analyzes different ongoing technologies and their feasibility at present. It segments the digital utility market by technology type, network type and end-use industries and it also surveys the regional market development of digital utilities. Furthermore, the report segments the regional markets by major countries, such as the U.S., China, Germany, India and others, where the opportunities for advanced technologies are lucrative.

This study is prepared in a simple, easy-to-understand format; tables and figures are included to illustrate historical, current and future market scenarios. The report covers leading companies with information on product types, business footprint, revenue, etc. The publisher has also included a list of other companies in global and regional markets. In addition, the report consists of a patent analysis for the digital utility market, representing a significant investment area for investors.

In addition, the report incorporates the impact of COVID-19 and the Russia-Ukraine war on the global and regional markets.

In this report, 2022 is used as the market’s base year; estimated values are provided for 2023; and the market values are forecast from 2023 to 2028. All market values are provided in billions of dollars, and market shares and CAGRs are provided in percentages.

Report Includes

  • 51 data tables and 44 additional tables
  • A brief overview and up-to-date analysis of the global digital utility market
  • Analyses of the global market trends, with historical revenue (sales figures) for 2022, estimates for 2023, forecasts for 2024 and 2026, and projections of compound annual growth rates (CAGRs) through 2028
  • Understanding of the current and upcoming market potential for the digital utility industry, and areas of focus to forecast this market into various segments and sub-segments
  • Estimation of actual market size and revenue forecast for digital utility market in USD billion values, and corresponding market share analysis based on technology, network type, end-use industry, and region
  • Discussion of major growth drivers, industry-specific challenges, regulatory aspects, and technology advancement that will shape the market for digital utility technologies as a basis for projecting demand in the next few years (2023-2028)
  • Country specific data and market value analysis for the U.S., Canada, Mexico, Germany, France, Italy, Spain, the UK, Japan, China, India, Australia, South Korea, the Middle East and Africa, among others
  • Analysis of market opportunities with a holistic review of the Porter’s five forces analysis and PESTLE analysis considering both micro- and macro environmental factors prevailing in the market
  • A relevant patent analysis on the digital utility market with emphasis on R&D investments, emerging technologies, and new developments in the marketplace
  • Latest information on the recent mergers and acquisitions, partnerships, agreements, collaborations, and other strategic alliances in global digital utility marketplace
  • Identification of the major stakeholders and analysis of the competitive landscape based on recent developments and segmental revenues
  • Descriptive company profiles of the leading global players, including Cisco Systems Inc., General Electric Co., International Business Machines Corp., Accenture plc and Siemens AG

Table of Contents

Chapter 1 Introduction
  • Overview
  • Study Goals and Objectives
  • Reasons for Doing This Study
  • Scope of Report
  • Research Methodology
  • Information Sources
  • Regional Breakdown
Chapter 2 Summary and Highlights
  • Market Outlook
Chapter 3 Market Overview
  • Current Market Overview
  • Benefits of Digital Transformation in Utilities
  • Necessity of Digital Transformation
  • Digital Technology and Its Features
  • Supply Chain Analysis for the Digital Utility Market
  • Porter's Five Forces Model
  • Bargaining Power of Suppliers
  • Bargaining Power of Buyers
  • The Threat of New Entrants
  • Threat of Substitutes
  • Competitive Rivalry
  • PESTLE Analysis
  • COVID-19's Impact on the Global Digital Utility Market
  • Russia-Ukraine War Impact on the Global Digital Utility Market
Chapter 4 Market Dynamics
  • Overview
  • Market Drivers
  • Market Restraints
  • Challenges in Digital Transformation
  • Current Market Trends
  • Market Opportunities
Chapter 5 Market Breakdown by Technology
  • Overview
  • Hardware
  • Integrated Solutions
Chapter 6 Market Breakdown by Network Type
  • Overview
  • Generation
  • Transmission and Distribution
  • Retail
Chapter 7 Market Breakdown by End-Use Sector
  • Overview
  • Residential
  • Industrial
  • Commercial
Chapter 8 Market Breakdown by Region
  • Overview
  • North America
  • U.S.
  • Canada
  • Mexico
  • Europe
  • Germany
  • France
  • Italy
  • Spain
  • U.K.
  • Rest of Europe
  • Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • South Korea
  • Rest of Asia-Pacific
  • Rest of World
  • Middle East and Africa
  • South America
Chapter 9 ESG Development
  • Overview
  • Digital Transformation and ESG are Closely Related
  • Importance of ESG in the Digitalization of Utilities
  • ESG for the Utility Industry
  • Approaches Utilities Can Take to Achieve ESG Goals
  • Challenges and Opportunities for Adopting ESG in the Power Sector
  • Current Status of ESG in the Digital Utility Market
  • Future of ESG with Digital Transformation
  • Case Study: Examples of Successful Implementation of ESG
  • Concluding Remarks
Chapter 10 Emerging Technologies and Developments
  • Technology Overview
  • Technological Trends in the Utility Sector
  • Factors Shaping Utility Growth
Chapter 11 Patent Analysis
  • Overview
  • Patent Descriptions
Chapter 12 M&A and Funding Outlook
  • Venture Capital in Digital Utility
Chapter 13 Competitive Intelligence
  • Overview
  • Market Share Analysis
  • Strategy Analysis
  • Product Mapping Analysis
  • Product Mapping Analysis by Technology Type
Chapter 14 Company Profiles
  • Overview
  • ABB LTD.
  • ACCENTURE PLC
  • CAPGEMINI SE
  • CISCO SYSTEMS INC.
  • COGNIZANT
  • E.ON SE
  • EATON CORP. PLC
  • GENERAL ELECTRIC
  • INFOSYS LTD.
  • INTERNATIONAL BUSINESS MACHINES CORP.
  • MICROSOFT CORP.
  • ORACLE CORP.
  • SAP SE
  • SIEMENS AG
  • WIPRO LTD.
  • Industry Organizations
Chapter 15 Appendix: Acronyms
List of Tables
Summary Table: Global Digital Utility Market, by Region, Through 2028
Table 1: Digital Technologies and Their Features
Table 2: Challenges in Digital Transformation
Table 3: Global Digital Utility Market, by Technology, Through 2028
Table 4: Global Digital Utility Hardware Market, by Region, Through 2028
Table 5: Global Digital Utility Market for Integrated Solutions in Digital Utility, by Region, Through 2028
Table 6: Global Digital Utility Cloud and Software Market, by Region, Through 2028
Table 7: Global Digital Utility Service Market, by Region, Through 2028
Table 8: Global Digital Utility Market, by Network Type, Through 2028
Table 9: Global Digital Utility Generation Market, by Region, Through 2028
Table 10: Challenges and New Technologies in Transmission and Distribution of Digital Utility Networks
Table 11: Global Digital Utility Transmission and Distribution Market, by Region, Through 2028
Table 12: Global Digital Utility Energy Storage Market, by Region, Through 2028
Table 13: Global Digital Utility Energy Trading Market, by Region, Through 2028
Table 14: Global Digital Utility Market in Other Applications, by Region, Through 2028
Table 15: Global Market for Digital Utility in Retail, by Region, Through 2028
Table 16: Global Digital Utility Market, by End-Use Sector, Through 2028
Table 17: Global Market for Digital Utility in Residential End Uses, by Region, Through 2028
Table 18: Global Market for Digital Utility in Industrial End Uses, by Region, Through 2028
Table 19: Global Market for Digital Utility in Commercial End Uses, by Region, Through 2028
Table 20: Global Digital Utility Market, by Region, Through 2028
Table 21: North American Digital Utility Market, by Country, Through 2028
Table 22: North American Digital Utility Market, by Technology, Through 2028
Table 23: North American Digital Utility Market, by Network Type, Through 2028
Table 24: North American Digital Utility Market, by End-Use Sector, Through 2028
Table 25: European Digital Utility Market, by Country, Through 2028
Table 26: European Digital Utility Market, by Technology, Through 2028
Table 27: European Digital Utility Market, by Network Type, Through 2028
Table 28: European Digital Utility Market, by End-Use Sector, Through 2028
Table 29: Asia-Pacific Digital Utility Market, by Country, Through 2028
Table 30: Asia-Pacific Digital Utility Market, by Technology, Through 2028
Table 31: Asia-Pacific Digital Utility Market, by Network Type, Through 2028
Table 32: Asia-Pacific Digital Utility Market, by End-Use Sector, Through 2028
Table 33: Rest of World Digital Utility Market, by Subregion, Through 2028
Table 34: Rest of World Digital Utility Market, by Technology, Through 2028
Table 35: Rest of World Digital Utility Market, by Network Type, Through 2028
Table 36: Rest of World Digital Utility Market, by End-Use Sector, Through 2028
Table 37: Environmental Factors for the Utility Industry
Table 38: Social Factors for the Utility Industry
Table 39: Governance Factors for the Utility Industry
Table 40: ESG Score for the Digital Utility Providers
Table 41: Initiatives for Reducing the Footprint by Accenture
Table 42: Active Targets and Goals of ESG by Cisco System Inc.
Table 43: Completed ESG Goals by Cisco System Inc.
Table 44: Patents Published on Components in Digital Utility, January 2021-December 2022
Table 45: Number of Patents Published on Digital Utility, by Company, 2022
Table 46: Venture Capital in Digital Utility, January 2019-May 2023
Table 47: Competitive Information for Top Players in the Global Digital Utility Market, 2022
Table 48: Product Mapping Analysis by Technology for Top Companies
Table 49: ABB Ltd.: Financial Overview, 2020-2022
Table 50: ABB Ltd.: Key Developments, 2020-2023
Table 51: ABB Ltd.: Product Offerings
Table 52: Accenture Plc: Financial Overview, 2020-2022
Table 53: Accenture Plc: Key Developments, 2021 and 2022
Table 54: Accenture Plc: Product Offerings
Table 55: Capgemini SE: Financial Overview, 2020-2022
Table 56: Capgemini SE: Key Developments, 2019-2022
Table 57: Capgemini SE: Product Offering
Table 58: Cisco Systems Inc.: Financial Overview, 2020-2022
Table 59: Cisco Systems Inc.: Key Developments, 2021 and 2022
Table 60: Cisco Systems Inc.: Product Offerings
Table 61: Cognizant: Financial Overview, 2020-2022
Table 62: Cognizant: Key Developments, 2022
Table 63: Cognizant: Product Offerings
Table 64: E.ON SE: Financial Overview, 2020-2022
Table 65: E.ON SE: Key Developments, 2022
Table 66: E.ON SE: Product Offerings
Table 67: Eaton Corp. plc: Financial Overview, 2020-2022
Table 68: Eaton Corp. plc: Key Developments, 2021-2023
Table 69: Eaton Corp. plc: Product Offerings
Table 70: General Electric: Financial Overview, 2020-2022
Table 71: General Electric: Key Developments, 2021-2023
Table 72: General Electric: Product Offerings
Table 73: Infosys Ltd.: Financial Overview, 2020-2022
Table 74: Infosys Ltd.: Key Developments, 2023
Table 75: Infosys Ltd.: Product Offerings
Table 76: IBM Corp.: Financial Overview, 2020-2022
Table 77: IBM Corp.: Key Developments, 2021 and 2022
Table 78: IBM Corp.: Product Offerings
Table 79: Microsoft Corp.: Financial Overview, 2020-2022
Table 80: Microsoft Corp.: Key Developments, 2022
Table 81: Microsoft Corp.: Product Offerings
Table 82: Oracle Corp.: Financial Overview, 2020-2022
Table 83: Oracle Corp.: Key Developments, 2020-2022
Table 84: Oracle Corp.: Product Offerings
Table 85: SAP SE: Financial Overview, 2020-2022
Table 86: SAP SE: Key Developments, 2020-2023
Table 87: SAP SE: Product Offerings
Table 88: Siemens AG: Financial Overview, 2020-2022
Table 89: Siemens AG: Key Developments, 2020-2023
Table 90: Siemens AG: Product Offerings
Table 91: Wipro Ltd.: Financial Overview, 2020-2022
Table 92: Wipro Ltd.: Product Offerings
Table 93: List of Resources Used for Digital Utility Market
Table 94: Acronyms and Abbreviations Used in This Report
List of Figures
Summary Figure: Global Digital Utility Market Share, by Region, 2022
Figure 1: Benefits of Digital Transformation in Utilities
Figure 2: Digital Transformation Strategy by Utilities
Figure 3: Supply Chain Analysis of the Digital Utility Market
Figure 4: Porter’s Five Forces Model for the Digital Utility Market
Figure 5: PESTLE Analysis for Digital Utility Market
Figure 6: Global Digital Utility Market Dynamics
Figure 7: Global Renewable Power Capacity Growth, 2017-2022
Figure 8: Global Demand for Electricity, 2017-2022
Figure 9: Benefits Associated with the Smart Grid
Figure 10: Investments in Digital Infrastructure in Transmission and Distribution Electricity Grids, 2017-2021
Figure 11: Restraints on Global Digital Utility Market
Figure 12: Current Trends in the Global Digital Utility Market
Figure 13: Market Opportunities in the Global Digital Utility Market
Figure 14: Global Digital Utility Market Share, by Technology, 2022
Figure 15: Global Digital Utility Market Share, by Technology, 2028
Figure 16: Global Digital Utility Hardware Market Share, by Region, 2022
Figure 17: Global Digital Utility Hardware Market Share, by Region, 2028
Figure 18: Global Market Shares of Integrated Solutions in Digital Utility, by Region, 2022
Figure 19: Global Market Shares of Integrated Solutions in Digital Utility, by Region, 2028
Figure 20: Global Digital Utility Cloud and Software Market Share, by Region, 2022
Figure 21: Global Digital Utility Cloud and Software Market Share, by Region, 2028
Figure 22: Global Digital Utility Service Market Share, by Region, 2022
Figure 23: Global Digital Utility Service Market Share, by Region, 2028
Figure 24: Global Digital Utility Market Share, by Network Type, 2022
Figure 25: Global Digital Utility Market Share, by Network Type, 2028
Figure 26: Global Digital Utility Generation Market Share, by Region, 2022
Figure 27: Global Digital Utility Generation Market Share, by Region, 2028
Figure 28: Global Digital Utility Transmission and Distribution Market Share, by Region, 2022
Figure 29: Global Digital Utility Transmission and Distribution Market Share, by Region, 2028
Figure 30: Global Digital Utility Energy Storage Market Share, by Region, 2022
Figure 31: Global Digital Utility Energy Storage Market Share, by Region, 2028
Figure 32: Global Digital Utility Energy Trading Market Share, by Region, 2022
Figure 33: Global Digital Utility Energy Trading Market Share, by Region, 2028
Figure 34: Global Market Shares of Digital Utility in Other Applications, by Region, 2022
Figure 35: Global Market Shares of Digital Utility in Other Applications, by Region, 2028
Figure 36: Global Market Shares of Digital Utility in Retail, by Region, 2022
Figure 37: Global Market Shares of Digital Utility in Retail, by Region, 2028
Figure 38: Global Digital Utility Market Share, by End-Use Sector, 2022
Figure 39: Global Digital Utility Market Share, by End-Use Sector, 2028
Figure 40: Global Market Shares of Digital Utility in Residential End Uses, by Region,2022
Figure 41: Global Market Shares of Digital Utility in Residential End Uses, by Region, 2028
Figure 42: Global Market Shares of Digital Utility in Industrial End Uses, by Region, 2022
Figure 43: Global Market Shares of Digital Utility in Industrial End Uses, by Region, 2028
Figure 44: Global Market Shares of Digital Utility in Commercial End Uses, by Region, 2022
Figure 45: Global Market Shares of Digital Utility in Commercial End Uses, by Region, 2028
Figure 46: Global Digital Utility Market Share, by Region, 2022
Figure 47: Global Digital Utility Market Share, by Region, 2028
Figure 48: North American Digital Utility Market Share, by Country, 2022
Figure 49: North American Digital Utility Market Share, by Country, 2028
Figure 50: North American Digital Utility Market Share, by Technology, 2022
Figure 51: North American Digital Utility Market Share, by Technology, 2028
Figure 52: North American Digital Utility Market Share, by Network Type, 2022
Figure 53: North American Digital Utility Market Share, by Network Type, 2028
Figure 54: North American Digital Utility Market Share, by End-Use Sector, 2022
Figure 55: North American Digital Utility Market Share, by End-Use Sector, 2028
Figure 56: U.S. Digital Utility Market, 2022-2028
Figure 57: Canadian Digital Utility Market, 2022-2028
Figure 58: Mexican Digital Utility Market, 2022-2028
Figure 59: European Digital Utility Market Share, by Country, 2022
Figure 60: European Digital Utility Market Share, by Country, 2028
Figure 61: European Digital Utility Market Share, by Technology, 2022
Figure 62: European Digital Utility Market Share, by Technology, 2028
Figure 63: European Digital Utility Market Share, by Network Type, 2022
Figure 64: European Digital Utility Market Share, by Network Type, 2028
Figure 65: European Digital Utility Market Share, by End-Use Sector, 2022
Figure 66: European Digital Utility Market Share, by End-Use Sector, 2028
Figure 67: German Digital Utility Market, 2022-2028
Figure 68: French Digital Utility Market, 2022-2028
Figure 69: Italian Digital Utility Market, 2022-2028
Figure 70: Spanish Digital Utility Market, 2022-2028
Figure 71: U.K. Digital Utility Market, 2022-2028
Figure 72: Rest of European Digital Utility Market, 2022-2028
Figure 73: Asia-Pacific Digital Utility Market Share, by Country, 2022
Figure 74: Asia-Pacific Digital Utility Market Share, by Country, 2028
Figure 75: Asia-Pacific Digital Utility Market Share, by Technology, 2022
Figure 76: Asia-Pacific Digital Utility Market Share, by Technology, 2028
Figure 77: Asia-Pacific Digital Utility Market Share, by Network Type, 2022
Figure 78: Asia-Pacific Digital Utility Market Share, by Network Type, 2028
Figure 79: Asia-Pacific Digital Utility Market Share, by End-Use Sector, 2022
Figure 80: Asia-Pacific Digital Utility Market Share, by End-Use Sector, 2028
Figure 81: Chinese Digital Utility Market, 2022-2028
Figure 82: Indian Digital Utility Market, 2022-2028
Figure 83: Japanese Digital Utility Market, 2022-2028
Figure 84: Australian Digital Utility Market, 2022-2028
Figure 85: South Korean Digital Utility Market, 2022-2028
Figure 86: Rest of Asia-Pacific Digital Utility Market, 2022-2028
Figure 87: Rest of World Digital Utility Market Share, by Subregion, 2022
Figure 88: Rest of World Digital Utility Market Share, by Subregion, 2028
Figure 89: Rest of World Digital Utility Market Share, by Technology, 2022
Figure 90: Rest of World Digital Utility Market Share, by Technology, 2028
Figure 91: Rest of World Digital Utility Market Share, by Network Type, 2022
Figure 92: Rest of World Digital Utility Market Share, by Network Type, 2028
Figure 93: Rest of World Digital Utility Market Share, by End-Use Sector, 2022
Figure 94: Rest of World Digital Utility Market Share, by End-Use Sector, 2028
Figure 95: Middle East and African Digital Utility Market, 2022-2028
Figure 96: South American Digital Utility Market, 2022-2028
Figure 97: Common Links Between Digital Transformation and ESG
Figure 98: ESG Priorities by Accenture
Figure 99: Applications of IoT in the Energy Sector
Figure 100: Benefits of Artificial Intelligence in the Energy Sector
Figure 101: Factors Shaping the Utility Growth
Figure 102: Share of Patents Published on Digital Utility, by Assignee Country, 2021
Figure 103: Shares of Patents Published on Digital Utility, by Assignee Country, 2022
Figure 104: Distribution Share of Venture Capital, by Various Rounds, 2022-2023
Figure 105: Global Digital Utility Market Share, by Strategy, 2021-2022
Figure 106: ABB Ltd.: Financial Information, 2020-2022
Figure 107: ABB Ltd.: Revenue Share, by Business Segment, 2022
Figure 108: ABB Ltd.: Revenue Share, by Region, 2022
Figure 109: Accenture Plc: Financial Information, 2020-2022
Figure 110: Accenture Plc: Revenue Share, by Business Segment, 2022
Figure 111: Accenture Plc: Revenue Share. by Region, 2022
Figure 112: Capgemini SE: Financial Information, 2020-2022
Figure 113: Capgemini SE: Revenue Share, by Business Segment, 2022
Figure 114: Capgemini SE: Revenue Share, by Region, 2022
Figure 115: Cisco Systems Inc.: Financial Information, 2020-2022
Figure 116: Cisco Systems Inc.: Revenue Share, by Business Segment, 2022
Figure 117: Cisco Systems Inc.: Revenue Share, by Region, 2022
Figure 118: Cognizant: Financial Information, 2020-2022
Figure 119: Cognizant: Revenue Share, by Business Segment, 2022
Figure 120: Cognizant: Revenue Share, by Region, 2022
Figure 121: E.ON SE: Financial Information, 2020-2022
Figure 122: E.ON SE: Revenue Share, by Business Segment, 2022
Figure 123: Eaton Corp. plc: Financial Information, 2020-2022
Figure 124: Eaton Corp. plc: Revenue Share, by Business Segment, 2022
Figure 125: Eaton Corp. plc: Revenue Share by Region, 2022
Figure 126: General Electric: Financial Information, 2020-2022
Figure 127: General Electric: Revenue Share, by Business Segment, 2022
Figure 128: General Electric: Revenue Share, by Region, 2022
Figure 129: Infosys Ltd.: Financial Information, 2020-2022
Figure 130: Infosys Ltd.: Revenue Share, by Business Segment, 2022
Figure 131: Infosys Ltd.: Revenue Share, by Region, 2022
Figure 132: IBM Corp.: Financial Information, 2020-2022
Figure 133: IBM Corp.: Revenue Share, by Business Segment, 2022
Figure 134: IBM Corp.: Revenue Share, by Region, 2022
Figure 135: Microsoft Corp.: Financial Information, 2020-2022
Figure 136: Microsoft Corp.: Revenue Share, by Business Segment, 2022
Figure 137: Microsoft Corp.: Revenue Share, by Region, 2022
Figure 138: Oracle Corp.: Financial Information, 2020-2022
Figure 139: Oracle Corp.: Revenue Share, by Business Segment, 2022
Figure 140: Oracle Corp.: Revenue Share, by Region, 2022
Figure 141: SAP SE: Financial Information, 2020-2022
Figure 142: SAP SE: Revenue Share, by Business Segment, 2022
Figure 143: SAP SE: Revenue Share, by Region, 2022
Figure 144: Siemens AG: Financial Information, 2020-2022
Figure 145: Siemens AG: Revenue Share, by Business Segment, 2022
Figure 146: Siemens AG: Revenue Share, by Region, 2022
Figure 147: Wipro Ltd.: Financial Information, 2020-2022
Figure 148: Wipro Ltd.: Revenue Share, by Business Segment, 2022
Figure 149: Wipro Ltd.: Revenue Share, by Region, 2022

Executive Summary

Summary:

Digitization has long been the prominent strategy pursued by major utility companies, and it has significantly contributed to reshaping and reinventing their organizations. The digital utility market is expected to grow due to the growing investments being made in adopting smart grids and the rising consumption of electricity. Also, increasing renewable power generation and growing investment prospects in advanced metering infrastructure are some of the prominent factors contributing to the growing digital utility market. Increased focus towards adoption of technologies by utilities has become a crucial strategy for businesses. It involves the implementation of cloud and big data analytics to IoT and automation. In sum, digital tech is shaping the future of the utility sector and posing new opportunities for achieving new revenue streams.

The demand for electricity is increasing at a faster pace every year. To cope with the increasing demand, energy and utility companies are upgrading to Distributed Energy Resources (DER) and Advanced Distribution Management Systems (ADMS). Such systems require highly accurate data, which is not available with existing operations. Thus, it has become evident that utilities need to adopt digitization technologies to help them run their businesses more effectively and efficiently.

Also, AI-powered solutions are being used in the energy and utilities industries to monitor and track assets such as on-site equipment, end-user equipment and personnel, and mobile devices for effective asset management. These monitoring and advanced analytics capabilities can detect or even predict faults and schedule maintenance to reduce equipment downtime. Data management and accuracy are critical to optimizing processes, as this can ultimately lead to cost savings. The energy and utility sectors are, therefore, adopting new technologies to collect and analyze data from multiple touchpoints in order to streamline operations.

Customer satisfaction is one of the primary goals of digital transformation. Personalized interactions through the online portal, mobile app and customer service team allow end users to access and transact directly with the utility. This gives customers direct access to all their account information and thereby builds loyalty.

In sum, the increasing adoption of technology for growing business opportunities is strengthening the demand for advanced technologies such as edge computing, digital twins, the Internet of Things (IoT), Artificial intelligence (AI), Enterprise risk management (ERM) and Cloud Distribution Software, among others. Machine learning and artificial intelligence (AI) can supercharge the efficiency and resilience of a utility’s core business, and other technologies can lead to entirely new value-added services and business models for utilities.

Companies Mentioned

  • ABB Ltd.
  • Accenture plc
  • Capgemini Se
  • Cisco Systems Inc.
  • Cognizant
  • E.On Se
  • Eaton Corp. plc
  • General Electric
  • Infosys Ltd.
  • International Business Machines Corp.
  • Microsoft Corp.
  • Oracle Corp.
  • SAP Se
  • Siemens AG
  • Wipro Ltd.

Table Information

Report AttributeDetails
No. of Pages289
PublishedJuly 2023
Forecast Period2023 - 2028
Estimated Market Value ( USD ) in 2023 $ 226.6 Billion
Forecasted Market Value ( USD ) by 2028 $ 415.2 Billion
Compound Annual Growth Rate12.9%
Regions CoveredGlobal
No. of Companies Mentioned15

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About the Digital Utility Market

The Digital Utility market is a rapidly growing sector within the Utilities industry. It is focused on the development of digital technologies and services that enable the efficient delivery of energy, water, and other essential services. This includes the use of advanced analytics, automation, and artificial intelligence to improve operational efficiency, reduce costs, and improve customer service. Digital Utility solutions also enable the integration of renewable energy sources into the grid, as well as the development of smart grids and smart meters. The Digital Utility market is driven by the need to reduce energy consumption, improve customer service, and increase the reliability of energy delivery. It is also driven by the need to reduce emissions and meet sustainability goals. Companies in the Digital Utility market include ABB, Siemens, Schneider Electric, Itron, Oracle, IBM, and Microsoft. Show Less Read more

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