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Digital Utility Market By Technology, By Network: Global Opportunity Analysis and Industry Forecast, 2023-2032

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    Report

  • 450 Pages
  • June 2023
  • Region: Global
  • Allied Market Research
  • ID: 5879124
Description Jump to:
The global digital utility market was valued at $214.2 million in 2022 and is projected to reach $594.2 million by 2032, growing at a CAGR of 10.8% from 2023 to 2032.

Digital utility refers to the digital transformation of the utility industry through the adoption of digital working methods, typically with business objectives in mind. Common business objectives Include more streamlined operations, enhanced consumer interactions, Increased efficiencies, and the hope of generating new business models. Investments in the cloud, big data, mobile, biometrics, and modernizing the grid using communication infrastructure, sensors, automation, IT/IoT integration, artificial intelligence, and integrated operation centers are a few examples of the diverse forms that current efforts take.

The power generation, transmission, and distribution industries are rapidly adopting digital devices to enhance plant productivity, dependability, and protection. Smart grids, sensors, and smart meters are digital systems that provide a more accurate and real-time accounting of power consumption to businesses and consumers. These technologies contribute to the enhancement of the productivity, performance, safety, enforcement, and dependability of power generation and distribution. This results in enhanced asset management, planning, and execution, as well as Increased customer satisfaction and quality.

Rapid industrialization and economic development, particularly in developing and underdeveloped countries, drive a significant Increase in global energy demand. Modern lifestyles are becoming more energy intensive as the number of domestic appliances and electronic devices Increases. To meet this rise in demand, governments around the globe are Increasing generation capacity and constructing dependable transmission and distribution networks. In developing countries, the lack of a stable power supply is a significant cause of economic underperformance. It hinders new investors and hampers industrialization. Even in countries with excess generation capacity, the transmission and distribution networks are often deteriorating and unreliable, resulting in an unstable power supply. Improving grid infrastructure, minimizing transmission losses, and optimizing operations have become crucial. Digital utility services provide unique solutions for utility management based on hardware, software, and integrated platforms. It facilitates comprehensive data-driven grid management, maximizing efficiency, minimizing outages, and facilitating proactive maintenance. The implementation of digital utility services can enhance the dependability and productivity of utility operations. The demand for effectiveness in utility operations is a significant market growth driver.

The adoption of digital utilities offers numerous advantages for energy operations, Including Increased efficiency, decreased outages, and proactive maintenance. A rise in digitization is anticipated to make digital utility a more desirable option. However, implementing digital utilities for energy grid operations involves numerous expenses. Globally, most of the transmission and distribution networks were constructed in the 20th century, making them Incompatible with digital integration. Modern software components and digital utility solutions cannot be implemented on outdated utility equipment. It requires the replacement of all network components with their modern equivalents. The replacement significantly Increases the cost of operating digital utility solutions. Some of the most prominent digital utility solution providers are engineering firms, and their proprietary software operates solely on outdated equipment and outdated hardware It hinders interoperability and Increases costs. Massive investments in digital utility solutions are expected to provide marginal benefits, if any, to countries that are developing or underdeveloped, as several fundamental issues regarding power generation, transmission, and distribution remain unresolved. The cost of integrating digital utilities restricts their adoption and poses a significant obstacle to the market's expansion
Digitalization in plants has Increased due to the growth of digital technology and the emergence of software distribution models, such as software services. This software makes digital solutions more cost-effective for developers. Moreover, the use of digital solutions in power plants can reduce carbon dioxide emissions by facilitating fuel analysis and enhanced combustion performance. It Increases flexibility to Increase the proportion of renewable energy sources and mitigate cycling's negative effects. In addition, digitalization permits the developer to adapt to regulatory and market changes. In buildings, digitalization and technological advancement are expected to facilitate energy efficiency and enhanced power management. Sensors used in the digitalization of buildings must be able to detect energy and electricity demand, temperature, air quality, presence of moisture, and its impact. Digital technologies and solutions will be required to realize automated, energy-efficient buildings. In new construction and existing buildings, an Increase in the number of standards and guidelines regarding future-oriented, integrated investment strategies for digitalization technologies related to buildings will offer lucrative opportunities for the digital utility market.

The digital utility market is segmented on the basis of technology, network, and region. By technology, the market is divided into hardware and integrated solutions. On the basis of the network, it is categorized into power generation, transmission and distribution, and retail. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.

The major players operating in the global digital utility market are ABB Ltd., General Electric Company, Siemens AG, SAP SE, Oracle Corporation., Cisco Systems Inc., Accenture plc, Capgemini SE, Microsoft Corporation, and Schneider Electric SE.

Key Benefits For Stakeholders
  • This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the digital utility market analysis from 2022 to 2032 to identify the prevailing digital utility market opportunities.
  • The market research is offered along with information related to key drivers, restraints, and opportunities.
  • Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
  • In-depth analysis of the digital utility market segmentation assists to determine the prevailing market opportunities.
  • Major countries in each region are mapped according to their revenue contribution to the global market.
  • Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
  • The report Includes the analysis of the regional as well as global digital utility market trends, key players, market segments, application areas, and market growth strategies.

Key Market Segments

By Technology

  • Hardware
  • Type
  • Smart Grids
  • Smart Meters
  • Transformers
  • Integrated Solutions
  • Type
  • Service
  • Cloud and Software

By Network

  • Power Generation
  • Transmission and Distribution
  • Retail

By Region

  • North America
  • U.S.
  • Canada
  • Mexico
  • Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Rest of Europe
  • Asia-Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
  • Rest of Asia-Pacific
  • LAMEA
  • Brazil
  • Saudi Arabia
  • South Africa
  • Rest of LAMEA

Key Market Players

  • ABB Ltd.
  • Accenture plc
  • Capgemini
  • Cisco Systems Inc.
  • General Electric Company
  • Microsoft Corporation
  • Oracle Corporation.
  • SAP SE
  • Schneider Electric SE.
  • Siemens

Table of Contents

CHAPTER 1: INTRODUCTION
1.1. Report description
1.2. Key market segments
1.3. Key benefits to the stakeholders
1.4. Research Methodology
1.4.1. Primary research
1.4.2. Secondary research
1.4.3. Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY
2.1. CXO Perspective
CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top impacting factors
3.2.2. Top investment pockets
3.3. Porter’s five forces analysis
3.3.1. Bargaining power of suppliers
3.3.2. Bargaining power of buyers
3.3.3. Threat of substitutes
3.3.4. Threat of new entrants
3.3.5. Intensity of rivalry
3.4. Market dynamics
3.4.1. Drivers
3.4.1.1. Rise in focus on energy utility operations efficiency
3.4.1.2. Increase in investments in renewable energy
3.4.2. Restraints
3.4.2.1. High operating cost
3.4.3. Opportunities
3.4.3.1. Increase in digital power plants and digital buildings
3.5. COVID-19 Impact Analysis on the market
3.6. Key Regulation Analysis
3.7. Patent Landscape
3.8. Regulatory Guidelines
3.9. Value Chain Analysis
CHAPTER 4: DIGITAL UTILITY MARKET, BY TECHNOLOGY
4.1. Overview
4.1.1. Market size and forecast
4.2. Hardware
4.2.1. Key market trends, growth factors and opportunities
4.2.2. Market size and forecast, by region
4.2.3. Market share analysis by country
4.2.4. Hardware Digital Utility Market by Type
4.2.4.1. Smart Grids Market size and forecast, by region
4.2.4.2. Smart Grids Market size and forecast, by country
4.2.4.3. Smart Meters Market size and forecast, by region
4.2.4.4. Smart Meters Market size and forecast, by country
4.2.4.5. Transformers Market size and forecast, by region
4.2.4.6. Transformers Market size and forecast, by country
4.3. Integrated Solutions
4.3.1. Key market trends, growth factors and opportunities
4.3.2. Market size and forecast, by region
4.3.3. Market share analysis by country
4.3.4. Integrated Solutions Digital Utility Market by Type
4.3.4.1. Service Market size and forecast, by region
4.3.4.2. Service Market size and forecast, by country
4.3.4.3. Cloud and Software Market size and forecast, by region
4.3.4.4. Cloud and Software Market size and forecast, by country
CHAPTER 5: DIGITAL UTILITY MARKET, BY NETWORK
5.1. Overview
5.1.1. Market size and forecast
5.2. Power Generation
5.2.1. Key market trends, growth factors and opportunities
5.2.2. Market size and forecast, by region
5.2.3. Market share analysis by country
5.3. Transmission and Distribution
5.3.1. Key market trends, growth factors and opportunities
5.3.2. Market size and forecast, by region
5.3.3. Market share analysis by country
5.4. Retail
5.4.1. Key market trends, growth factors and opportunities
5.4.2. Market size and forecast, by region
5.4.3. Market share analysis by country
CHAPTER 6: DIGITAL UTILITY MARKET, BY REGION
6.1. Overview
6.1.1. Market size and forecast By Region
6.2. North America
6.2.1. Key trends and opportunities
6.2.2. Market size and forecast, by Technology
6.2.2.1. North America Hardware Digital Utility Market by Type
6.2.2.2. North America Integrated Solutions Digital Utility Market by Type
6.2.3. Market size and forecast, by Network
6.2.4. Market size and forecast, by country
6.2.4.1. U.S.
6.2.4.1.1. Key market trends, growth factors and opportunities
6.2.4.1.2. Market size and forecast, by Technology
6.2.4.1.2.1. U.S. Hardware Digital Utility Market by Type
6.2.4.1.2.2. U.S. Integrated Solutions Digital Utility Market by Type
6.2.4.1.3. Market size and forecast, by Network
6.2.4.2. Canada
6.2.4.2.1. Key market trends, growth factors and opportunities
6.2.4.2.2. Market size and forecast, by Technology
6.2.4.2.2.1. Canada Hardware Digital Utility Market by Type
6.2.4.2.2.2. Canada Integrated Solutions Digital Utility Market by Type
6.2.4.2.3. Market size and forecast, by Network
6.2.4.3. Mexico
6.2.4.3.1. Key market trends, growth factors and opportunities
6.2.4.3.2. Market size and forecast, by Technology
6.2.4.3.2.1. Mexico Hardware Digital Utility Market by Type
6.2.4.3.2.2. Mexico Integrated Solutions Digital Utility Market by Type
6.2.4.3.3. Market size and forecast, by Network
6.3. Europe
6.3.1. Key trends and opportunities
6.3.2. Market size and forecast, by Technology
6.3.2.1. Europe Hardware Digital Utility Market by Type
6.3.2.2. Europe Integrated Solutions Digital Utility Market by Type
6.3.3. Market size and forecast, by Network
6.3.4. Market size and forecast, by country
6.3.4.1. Germany
6.3.4.1.1. Key market trends, growth factors and opportunities
6.3.4.1.2. Market size and forecast, by Technology
6.3.4.1.2.1. Germany Hardware Digital Utility Market by Type
6.3.4.1.2.2. Germany Integrated Solutions Digital Utility Market by Type
6.3.4.1.3. Market size and forecast, by Network
6.3.4.2. UK
6.3.4.2.1. Key market trends, growth factors and opportunities
6.3.4.2.2. Market size and forecast, by Technology
6.3.4.2.2.1. UK Hardware Digital Utility Market by Type
6.3.4.2.2.2. UK Integrated Solutions Digital Utility Market by Type
6.3.4.2.3. Market size and forecast, by Network
6.3.4.3. France
6.3.4.3.1. Key market trends, growth factors and opportunities
6.3.4.3.2. Market size and forecast, by Technology
6.3.4.3.2.1. France Hardware Digital Utility Market by Type
6.3.4.3.2.2. France Integrated Solutions Digital Utility Market by Type
6.3.4.3.3. Market size and forecast, by Network
6.3.4.4. Spain
6.3.4.4.1. Key market trends, growth factors and opportunities
6.3.4.4.2. Market size and forecast, by Technology
6.3.4.4.2.1. Spain Hardware Digital Utility Market by Type
6.3.4.4.2.2. Spain Integrated Solutions Digital Utility Market by Type
6.3.4.4.3. Market size and forecast, by Network
6.3.4.5. Italy
6.3.4.5.1. Key market trends, growth factors and opportunities
6.3.4.5.2. Market size and forecast, by Technology
6.3.4.5.2.1. Italy Hardware Digital Utility Market by Type
6.3.4.5.2.2. Italy Integrated Solutions Digital Utility Market by Type
6.3.4.5.3. Market size and forecast, by Network
6.3.4.6. Rest of Europe
6.3.4.6.1. Key market trends, growth factors and opportunities
6.3.4.6.2. Market size and forecast, by Technology
6.3.4.6.2.1. Rest of Europe Hardware Digital Utility Market by Type
6.3.4.6.2.2. Rest of Europe Integrated Solutions Digital Utility Market by Type
6.3.4.6.3. Market size and forecast, by Network
6.4. Asia-Pacific
6.4.1. Key trends and opportunities
6.4.2. Market size and forecast, by Technology
6.4.2.1. Asia-Pacific Hardware Digital Utility Market by Type
6.4.2.2. Asia-Pacific Integrated Solutions Digital Utility Market by Type
6.4.3. Market size and forecast, by Network
6.4.4. Market size and forecast, by country
6.4.4.1. China
6.4.4.1.1. Key market trends, growth factors and opportunities
6.4.4.1.2. Market size and forecast, by Technology
6.4.4.1.2.1. China Hardware Digital Utility Market by Type
6.4.4.1.2.2. China Integrated Solutions Digital Utility Market by Type
6.4.4.1.3. Market size and forecast, by Network
6.4.4.2. India
6.4.4.2.1. Key market trends, growth factors and opportunities
6.4.4.2.2. Market size and forecast, by Technology
6.4.4.2.2.1. India Hardware Digital Utility Market by Type
6.4.4.2.2.2. India Integrated Solutions Digital Utility Market by Type
6.4.4.2.3. Market size and forecast, by Network
6.4.4.3. Japan
6.4.4.3.1. Key market trends, growth factors and opportunities
6.4.4.3.2. Market size and forecast, by Technology
6.4.4.3.2.1. Japan Hardware Digital Utility Market by Type
6.4.4.3.2.2. Japan Integrated Solutions Digital Utility Market by Type
6.4.4.3.3. Market size and forecast, by Network
6.4.4.4. South Korea
6.4.4.4.1. Key market trends, growth factors and opportunities
6.4.4.4.2. Market size and forecast, by Technology
6.4.4.4.2.1. South Korea Hardware Digital Utility Market by Type
6.4.4.4.2.2. South Korea Integrated Solutions Digital Utility Market by Type
6.4.4.4.3. Market size and forecast, by Network
6.4.4.5. Australia
6.4.4.5.1. Key market trends, growth factors and opportunities
6.4.4.5.2. Market size and forecast, by Technology
6.4.4.5.2.1. Australia Hardware Digital Utility Market by Type
6.4.4.5.2.2. Australia Integrated Solutions Digital Utility Market by Type
6.4.4.5.3. Market size and forecast, by Network
6.4.4.6. Rest of Asia-Pacific
6.4.4.6.1. Key market trends, growth factors and opportunities
6.4.4.6.2. Market size and forecast, by Technology
6.4.4.6.2.1. Rest of Asia-Pacific Hardware Digital Utility Market by Type
6.4.4.6.2.2. Rest of Asia-Pacific Integrated Solutions Digital Utility Market by Type
6.4.4.6.3. Market size and forecast, by Network
6.5. LAMEA
6.5.1. Key trends and opportunities
6.5.2. Market size and forecast, by Technology
6.5.2.1. LAMEA Hardware Digital Utility Market by Type
6.5.2.2. LAMEA Integrated Solutions Digital Utility Market by Type
6.5.3. Market size and forecast, by Network
6.5.4. Market size and forecast, by country
6.5.4.1. Brazil
6.5.4.1.1. Key market trends, growth factors and opportunities
6.5.4.1.2. Market size and forecast, by Technology
6.5.4.1.2.1. Brazil Hardware Digital Utility Market by Type
6.5.4.1.2.2. Brazil Integrated Solutions Digital Utility Market by Type
6.5.4.1.3. Market size and forecast, by Network
6.5.4.2. Saudi Arabia
6.5.4.2.1. Key market trends, growth factors and opportunities
6.5.4.2.2. Market size and forecast, by Technology
6.5.4.2.2.1. Saudi Arabia Hardware Digital Utility Market by Type
6.5.4.2.2.2. Saudi Arabia Integrated Solutions Digital Utility Market by Type
6.5.4.2.3. Market size and forecast, by Network
6.5.4.3. South Africa
6.5.4.3.1. Key market trends, growth factors and opportunities
6.5.4.3.2. Market size and forecast, by Technology
6.5.4.3.2.1. South Africa Hardware Digital Utility Market by Type
6.5.4.3.2.2. South Africa Integrated Solutions Digital Utility Market by Type
6.5.4.3.3. Market size and forecast, by Network
6.5.4.4. Rest of LAMEA
6.5.4.4.1. Key market trends, growth factors and opportunities
6.5.4.4.2. Market size and forecast, by Technology
6.5.4.4.2.1. Rest of LAMEA Hardware Digital Utility Market by Type
6.5.4.4.2.2. Rest of LAMEA Integrated Solutions Digital Utility Market by Type
6.5.4.4.3. Market size and forecast, by Network
CHAPTER 7: COMPETITIVE LANDSCAPE
7.1. Introduction
7.2. Top winning strategies
7.3. Product Mapping of Top 10 Player
7.4. Competitive Dashboard
7.5. Competitive Heatmap
7.6. Top player positioning, 2022
CHAPTER 8: COMPANY PROFILES
8.1. ABB Ltd.
8.1.1. Company overview
8.1.2. Key Executives
8.1.3. Company snapshot
8.1.4. Operating business segments
8.1.5. Product portfolio
8.1.6. Business performance
8.1.7. Key strategic moves and developments
8.2. General Electric Company
8.2.1. Company overview
8.2.2. Key Executives
8.2.3. Company snapshot
8.2.4. Operating business segments
8.2.5. Product portfolio
8.2.6. Business performance
8.2.7. Key strategic moves and developments
8.3. SAP SE
8.3.1. Company overview
8.3.2. Key Executives
8.3.3. Company snapshot
8.3.4. Operating business segments
8.3.5. Product portfolio
8.3.6. Business performance
8.4. Oracle Corporation.
8.4.1. Company overview
8.4.2. Key Executives
8.4.3. Company snapshot
8.4.4. Operating business segments
8.4.5. Product portfolio
8.4.6. Business performance
8.5. Cisco Systems Inc.
8.5.1. Company overview
8.5.2. Key Executives
8.5.3. Company snapshot
8.5.4. Operating business segments
8.5.5. Product portfolio
8.5.6. Business performance
8.6. Accenture plc
8.6.1. Company overview
8.6.2. Key Executives
8.6.3. Company snapshot
8.6.4. Operating business segments
8.6.5. Product portfolio
8.6.6. Business performance
8.7. Microsoft Corporation
8.7.1. Company overview
8.7.2. Key Executives
8.7.3. Company snapshot
8.7.4. Operating business segments
8.7.5. Product portfolio
8.7.6. Business performance
8.8. Schneider Electric SE.
8.8.1. Company overview
8.8.2. Key Executives
8.8.3. Company snapshot
8.8.4. Operating business segments
8.8.5. Product portfolio
8.8.6. Business performance
8.9. Siemens
8.9.1. Company overview
8.9.2. Key Executives
8.9.3. Company snapshot
8.9.4. Operating business segments
8.9.5. Product portfolio
8.9.6. Business performance
8.10. Capgemini
8.10.1. Company overview
8.10.2. Key Executives
8.10.3. Company snapshot
8.10.4. Operating business segments
8.10.5. Product portfolio
8.10.6. Business performance
List of Tables
TABLE 01. GLOBAL DIGITAL UTILITY MARKET, BY TECHNOLOGY, 2022-2032 ($MILLION)
TABLE 02. DIGITAL UTILITY MARKET FOR HARDWARE, BY REGION, 2022-2032 ($MILLION)
TABLE 03. GLOBAL HARDWARE DIGITAL UTILITY MARKET, BY TYPE, 2022-2032 ($MILLION)
TABLE 04. DIGITAL UTILITY MARKET FOR SMART GRIDS, BY REGION, 2022-2032 ($MILLION)
TABLE 05. DIGITAL UTILITY MARKET FOR SMART METERS, BY REGION, 2022-2032 ($MILLION)
TABLE 06. DIGITAL UTILITY MARKET FOR TRANSFORMERS, BY REGION, 2022-2032 ($MILLION)
TABLE 07. DIGITAL UTILITY MARKET FOR INTEGRATED SOLUTIONS, BY REGION, 2022-2032 ($MILLION)
TABLE 08. GLOBAL INTEGRATED SOLUTIONS DIGITAL UTILITY MARKET, BY TYPE, 2022-2032 ($MILLION)
TABLE 09. DIGITAL UTILITY MARKET FOR SERVICE, BY REGION, 2022-2032 ($MILLION)
TABLE 10. DIGITAL UTILITY MARKET FOR CLOUD AND SOFTWARE, BY REGION, 2022-2032 ($MILLION)
TABLE 11. GLOBAL DIGITAL UTILITY MARKET, BY NETWORK, 2022-2032 ($MILLION)
TABLE 12. DIGITAL UTILITY MARKET FOR POWER GENERATION, BY REGION, 2022-2032 ($MILLION)
TABLE 13. DIGITAL UTILITY MARKET FOR TRANSMISSION AND DISTRIBUTION, BY REGION, 2022-2032 ($MILLION)
TABLE 14. DIGITAL UTILITY MARKET FOR RETAIL, BY REGION, 2022-2032 ($MILLION)
TABLE 15. DIGITAL UTILITY MARKET, BY REGION, 2022-2032 ($MILLION)
TABLE 16. NORTH AMERICA DIGITAL UTILITY MARKET, BY TECHNOLOGY, 2022-2032 ($MILLION)
TABLE 17. NORTH AMERICA HARDWARE DIGITAL UTILITY MARKET, BY TYPE, 2022-2032 ($MILLION)
TABLE 18. NORTH AMERICA INTEGRATED SOLUTIONS DIGITAL UTILITY MARKET, BY TYPE, 2022-2032 ($MILLION)
TABLE 19. NORTH AMERICA DIGITAL UTILITY MARKET, BY NETWORK, 2022-2032 ($MILLION)
TABLE 20. NORTH AMERICA DIGITAL UTILITY MARKET, BY COUNTRY, 2022-2032 ($MILLION)
TABLE 21. U.S. DIGITAL UTILITY MARKET, BY TECHNOLOGY, 2022-2032 ($MILLION)
TABLE 22. U.S. HARDWARE DIGITAL UTILITY MARKET, BY TYPE, 2022-2032 ($MILLION)
TABLE 23. U.S. INTEGRATED SOLUTIONS DIGITAL UTILITY MARKET, BY TYPE, 2022-2032 ($MILLION)
TABLE 24. U.S. DIGITAL UTILITY MARKET, BY NETWORK, 2022-2032 ($MILLION)
TABLE 25. CANADA DIGITAL UTILITY MARKET, BY TECHNOLOGY, 2022-2032 ($MILLION)
TABLE 26. CANADA HARDWARE DIGITAL UTILITY MARKET, BY TYPE, 2022-2032 ($MILLION)
TABLE 27. CANADA INTEGRATED SOLUTIONS DIGITAL UTILITY MARKET, BY TYPE, 2022-2032 ($MILLION)
TABLE 28. CANADA DIGITAL UTILITY MARKET, BY NETWORK, 2022-2032 ($MILLION)
TABLE 29. MEXICO DIGITAL UTILITY MARKET, BY TECHNOLOGY, 2022-2032 ($MILLION)
TABLE 30. MEXICO HARDWARE DIGITAL UTILITY MARKET, BY TYPE, 2022-2032 ($MILLION)
TABLE 31. MEXICO INTEGRATED SOLUTIONS DIGITAL UTILITY MARKET, BY TYPE, 2022-2032 ($MILLION)
TABLE 32. MEXICO DIGITAL UTILITY MARKET, BY NETWORK, 2022-2032 ($MILLION)
TABLE 33. EUROPE DIGITAL UTILITY MARKET, BY TECHNOLOGY, 2022-2032 ($MILLION)
TABLE 34. EUROPE HARDWARE DIGITAL UTILITY MARKET, BY TYPE, 2022-2032 ($MILLION)
TABLE 35. EUROPE INTEGRATED SOLUTIONS DIGITAL UTILITY MARKET, BY TYPE, 2022-2032 ($MILLION)
TABLE 36. EUROPE DIGITAL UTILITY MARKET, BY NETWORK, 2022-2032 ($MILLION)
TABLE 37. EUROPE DIGITAL UTILITY MARKET, BY COUNTRY, 2022-2032 ($MILLION)
TABLE 38. GERMANY DIGITAL UTILITY MARKET, BY TECHNOLOGY, 2022-2032 ($MILLION)
TABLE 39. GERMANY HARDWARE DIGITAL UTILITY MARKET, BY TYPE, 2022-2032 ($MILLION)
TABLE 40. GERMANY INTEGRATED SOLUTIONS DIGITAL UTILITY MARKET, BY TYPE, 2022-2032 ($MILLION)
TABLE 41. GERMANY DIGITAL UTILITY MARKET, BY NETWORK, 2022-2032 ($MILLION)
TABLE 42. UK DIGITAL UTILITY MARKET, BY TECHNOLOGY, 2022-2032 ($MILLION)
TABLE 43. UK HARDWARE DIGITAL UTILITY MARKET, BY TYPE, 2022-2032 ($MILLION)
TABLE 44. UK INTEGRATED SOLUTIONS DIGITAL UTILITY MARKET, BY TYPE, 2022-2032 ($MILLION)
TABLE 45. UK DIGITAL UTILITY MARKET, BY NETWORK, 2022-2032 ($MILLION)
TABLE 46. FRANCE DIGITAL UTILITY MARKET, BY TECHNOLOGY, 2022-2032 ($MILLION)
TABLE 47. FRANCE HARDWARE DIGITAL UTILITY MARKET, BY TYPE, 2022-2032 ($MILLION)
TABLE 48. FRANCE INTEGRATED SOLUTIONS DIGITAL UTILITY MARKET, BY TYPE, 2022-2032 ($MILLION)
TABLE 49. FRANCE DIGITAL UTILITY MARKET, BY NETWORK, 2022-2032 ($MILLION)
TABLE 50. SPAIN DIGITAL UTILITY MARKET, BY TECHNOLOGY, 2022-2032 ($MILLION)
TABLE 51. SPAIN HARDWARE DIGITAL UTILITY MARKET, BY TYPE, 2022-2032 ($MILLION)
TABLE 52. SPAIN INTEGRATED SOLUTIONS DIGITAL UTILITY MARKET, BY TYPE, 2022-2032 ($MILLION)
TABLE 53. SPAIN DIGITAL UTILITY MARKET, BY NETWORK, 2022-2032 ($MILLION)
TABLE 54. ITALY DIGITAL UTILITY MARKET, BY TECHNOLOGY, 2022-2032 ($MILLION)
TABLE 55. ITALY HARDWARE DIGITAL UTILITY MARKET, BY TYPE, 2022-2032 ($MILLION)
TABLE 56. ITALY INTEGRATED SOLUTIONS DIGITAL UTILITY MARKET, BY TYPE, 2022-2032 ($MILLION)
TABLE 57. ITALY DIGITAL UTILITY MARKET, BY NETWORK, 2022-2032 ($MILLION)
TABLE 58. REST OF EUROPE DIGITAL UTILITY MARKET, BY TECHNOLOGY, 2022-2032 ($MILLION)
TABLE 59. REST OF EUROPE HARDWARE DIGITAL UTILITY MARKET, BY TYPE, 2022-2032 ($MILLION)
TABLE 60. REST OF EUROPE INTEGRATED SOLUTIONS DIGITAL UTILITY MARKET, BY TYPE, 2022-2032 ($MILLION)
TABLE 61. REST OF EUROPE DIGITAL UTILITY MARKET, BY NETWORK, 2022-2032 ($MILLION)
TABLE 62. ASIA-PACIFIC DIGITAL UTILITY MARKET, BY TECHNOLOGY, 2022-2032 ($MILLION)
TABLE 63. ASIA-PACIFIC HARDWARE DIGITAL UTILITY MARKET, BY TYPE, 2022-2032 ($MILLION)
TABLE 64. ASIA-PACIFIC INTEGRATED SOLUTIONS DIGITAL UTILITY MARKET, BY TYPE, 2022-2032 ($MILLION)
TABLE 65. ASIA-PACIFIC DIGITAL UTILITY MARKET, BY NETWORK, 2022-2032 ($MILLION)
TABLE 66. ASIA-PACIFIC DIGITAL UTILITY MARKET, BY COUNTRY, 2022-2032 ($MILLION)
TABLE 67. CHINA DIGITAL UTILITY MARKET, BY TECHNOLOGY, 2022-2032 ($MILLION)
TABLE 68. CHINA HARDWARE DIGITAL UTILITY MARKET, BY TYPE, 2022-2032 ($MILLION)
TABLE 69. CHINA INTEGRATED SOLUTIONS DIGITAL UTILITY MARKET, BY TYPE, 2022-2032 ($MILLION)
TABLE 70. CHINA DIGITAL UTILITY MARKET, BY NETWORK, 2022-2032 ($MILLION)
TABLE 71. INDIA DIGITAL UTILITY MARKET, BY TECHNOLOGY, 2022-2032 ($MILLION)
TABLE 72. INDIA HARDWARE DIGITAL UTILITY MARKET, BY TYPE, 2022-2032 ($MILLION)
TABLE 73. INDIA INTEGRATED SOLUTIONS DIGITAL UTILITY MARKET, BY TYPE, 2022-2032 ($MILLION)
TABLE 74. INDIA DIGITAL UTILITY MARKET, BY NETWORK, 2022-2032 ($MILLION)
TABLE 75. JAPAN DIGITAL UTILITY MARKET, BY TECHNOLOGY, 2022-2032 ($MILLION)
TABLE 76. JAPAN HARDWARE DIGITAL UTILITY MARKET, BY TYPE, 2022-2032 ($MILLION)
TABLE 77. JAPAN INTEGRATED SOLUTIONS DIGITAL UTILITY MARKET, BY TYPE, 2022-2032 ($MILLION)
TABLE 78. JAPAN DIGITAL UTILITY MARKET, BY NETWORK, 2022-2032 ($MILLION)
TABLE 79. SOUTH KOREA DIGITAL UTILITY MARKET, BY TECHNOLOGY, 2022-2032 ($MILLION)
TABLE 80. SOUTH KOREA HARDWARE DIGITAL UTILITY MARKET, BY TYPE, 2022-2032 ($MILLION)
TABLE 81. SOUTH KOREA INTEGRATED SOLUTIONS DIGITAL UTILITY MARKET, BY TYPE, 2022-2032 ($MILLION)
TABLE 82. SOUTH KOREA DIGITAL UTILITY MARKET, BY NETWORK, 2022-2032 ($MILLION)
TABLE 83. AUSTRALIA DIGITAL UTILITY MARKET, BY TECHNOLOGY, 2022-2032 ($MILLION)
TABLE 84. AUSTRALIA HARDWARE DIGITAL UTILITY MARKET, BY TYPE, 2022-2032 ($MILLION)
TABLE 85. AUSTRALIA INTEGRATED SOLUTIONS DIGITAL UTILITY MARKET, BY TYPE, 2022-2032 ($MILLION)
TABLE 86. AUSTRALIA DIGITAL UTILITY MARKET, BY NETWORK, 2022-2032 ($MILLION)
TABLE 87. REST OF ASIA-PACIFIC DIGITAL UTILITY MARKET, BY TECHNOLOGY, 2022-2032 ($MILLION)
TABLE 88. REST OF ASIA-PACIFIC HARDWARE DIGITAL UTILITY MARKET, BY TYPE, 2022-2032 ($MILLION)
TABLE 89. REST OF ASIA-PACIFIC INTEGRATED SOLUTIONS DIGITAL UTILITY MARKET, BY TYPE, 2022-2032 ($MILLION)
TABLE 90. REST OF ASIA-PACIFIC DIGITAL UTILITY MARKET, BY NETWORK, 2022-2032 ($MILLION)
TABLE 91. LAMEA DIGITAL UTILITY MARKET, BY TECHNOLOGY, 2022-2032 ($MILLION)
TABLE 92. LAMEA HARDWARE DIGITAL UTILITY MARKET, BY TYPE, 2022-2032 ($MILLION)
TABLE 93. LAMEA INTEGRATED SOLUTIONS DIGITAL UTILITY MARKET, BY TYPE, 2022-2032 ($MILLION)
TABLE 94. LAMEA DIGITAL UTILITY MARKET, BY NETWORK, 2022-2032 ($MILLION)
TABLE 95. LAMEA DIGITAL UTILITY MARKET, BY COUNTRY, 2022-2032 ($MILLION)
TABLE 96. BRAZIL DIGITAL UTILITY MARKET, BY TECHNOLOGY, 2022-2032 ($MILLION)
TABLE 97. BRAZIL HARDWARE DIGITAL UTILITY MARKET, BY TYPE, 2022-2032 ($MILLION)
TABLE 98. BRAZIL INTEGRATED SOLUTIONS DIGITAL UTILITY MARKET, BY TYPE, 2022-2032 ($MILLION)
TABLE 99. BRAZIL DIGITAL UTILITY MARKET, BY NETWORK, 2022-2032 ($MILLION)
TABLE 100. SAUDI ARABIA DIGITAL UTILITY MARKET, BY TECHNOLOGY, 2022-2032 ($MILLION)
TABLE 101. SAUDI ARABIA HARDWARE DIGITAL UTILITY MARKET, BY TYPE, 2022-2032 ($MILLION)
TABLE 102. SAUDI ARABIA INTEGRATED SOLUTIONS DIGITAL UTILITY MARKET, BY TYPE, 2022-2032 ($MILLION)
TABLE 103. SAUDI ARABIA DIGITAL UTILITY MARKET, BY NETWORK, 2022-2032 ($MILLION)
TABLE 104. SOUTH AFRICA DIGITAL UTILITY MARKET, BY TECHNOLOGY, 2022-2032 ($MILLION)
TABLE 105. SOUTH AFRICA HARDWARE DIGITAL UTILITY MARKET, BY TYPE, 2022-2032 ($MILLION)
TABLE 106. SOUTH AFRICA INTEGRATED SOLUTIONS DIGITAL UTILITY MARKET, BY TYPE, 2022-2032 ($MILLION)
TABLE 107. SOUTH AFRICA DIGITAL UTILITY MARKET, BY NETWORK, 2022-2032 ($MILLION)
TABLE 108. REST OF LAMEA DIGITAL UTILITY MARKET, BY TECHNOLOGY, 2022-2032 ($MILLION)
TABLE 109. REST OF LAMEA HARDWARE DIGITAL UTILITY MARKET, BY TYPE, 2022-2032 ($MILLION)
TABLE 110. REST OF LAMEA INTEGRATED SOLUTIONS DIGITAL UTILITY MARKET, BY TYPE, 2022-2032 ($MILLION)
TABLE 111. REST OF LAMEA DIGITAL UTILITY MARKET, BY NETWORK, 2022-2032 ($MILLION)
TABLE 112. ABB LTD.: KEY EXECUTIVES
TABLE 113. ABB LTD.: COMPANY SNAPSHOT
TABLE 114. ABB LTD.: PRODUCT SEGMENTS
TABLE 115. ABB LTD.: PRODUCT PORTFOLIO
TABLE 116. ABB LTD.: KEY STRATERGIES
TABLE 117. GENERAL ELECTRIC COMPANY: KEY EXECUTIVES
TABLE 118. GENERAL ELECTRIC COMPANY: COMPANY SNAPSHOT
TABLE 119. GENERAL ELECTRIC COMPANY: PRODUCT SEGMENTS
TABLE 120. GENERAL ELECTRIC COMPANY: PRODUCT PORTFOLIO
TABLE 121. GENERAL ELECTRIC COMPANY: KEY STRATERGIES
TABLE 122. SAP SE: KEY EXECUTIVES
TABLE 123. SAP SE: COMPANY SNAPSHOT
TABLE 124. SAP SE: SERVICE SEGMENTS
TABLE 125. SAP SE: PRODUCT PORTFOLIO
TABLE 126. ORACLE CORPORATION.: KEY EXECUTIVES
TABLE 127. ORACLE CORPORATION.: COMPANY SNAPSHOT
TABLE 128. ORACLE CORPORATION.: SERVICE SEGMENTS
TABLE 129. ORACLE CORPORATION.: PRODUCT PORTFOLIO
TABLE 130. CISCO SYSTEMS INC.: KEY EXECUTIVES
TABLE 131. CISCO SYSTEMS INC.: COMPANY SNAPSHOT
TABLE 132. CISCO SYSTEMS INC.: PRODUCT SEGMENTS
TABLE 133. CISCO SYSTEMS INC.: PRODUCT PORTFOLIO
TABLE 134. ACCENTURE PLC: KEY EXECUTIVES
TABLE 135. ACCENTURE PLC: COMPANY SNAPSHOT
TABLE 136. ACCENTURE PLC: SERVICE SEGMENTS
TABLE 137. ACCENTURE PLC: PRODUCT PORTFOLIO
TABLE 138. MICROSOFT CORPORATION: KEY EXECUTIVES
TABLE 139. MICROSOFT CORPORATION: COMPANY SNAPSHOT
TABLE 140. MICROSOFT CORPORATION: SERVICE SEGMENTS
TABLE 141. MICROSOFT CORPORATION: PRODUCT PORTFOLIO
TABLE 142. SCHNEIDER ELECTRIC SE.: KEY EXECUTIVES
TABLE 143. SCHNEIDER ELECTRIC SE.: COMPANY SNAPSHOT
TABLE 144. SCHNEIDER ELECTRIC SE.: PRODUCT SEGMENTS
TABLE 145. SCHNEIDER ELECTRIC SE.: PRODUCT PORTFOLIO
TABLE 146. SIEMENS: KEY EXECUTIVES
TABLE 147. SIEMENS: COMPANY SNAPSHOT
TABLE 148. SIEMENS: PRODUCT SEGMENTS
TABLE 149. SIEMENS: PRODUCT PORTFOLIO
TABLE 150. CAPGEMINI: KEY EXECUTIVES
TABLE 151. CAPGEMINI: COMPANY SNAPSHOT
TABLE 152. CAPGEMINI: PRODUCT SEGMENTS
TABLE 153. CAPGEMINI: PRODUCT PORTFOLIO
List of Figures
FIGURE 01. DIGITAL UTILITY MARKET, 2022-2032
FIGURE 02. SEGMENTATION OF DIGITAL UTILITY MARKET, 2022-2032
FIGURE 03. TOP INVESTMENT POCKETS IN DIGITAL UTILITY MARKET (2023-2032)
FIGURE 04. MODERATE BARGAINING POWER OF SUPPLIERS
FIGURE 05. HIGH BARGAINING POWER OF BUYERS
FIGURE 06. HIGH THREAT OF SUBSTITUTES
FIGURE 07. LOW THREAT OF NEW ENTRANTS
FIGURE 08. HIGH INTENSITY OF RIVALRY
FIGURE 09. DRIVERS, RESTRAINTS AND OPPORTUNITIES: GLOBALDIGITAL UTILITY MARKET
FIGURE 10. IMPACT OF KEY REGULATION: DIGITAL UTILITY MARKET
FIGURE 11. PATENT ANALYSIS BY COMPANY
FIGURE 12. PATENT ANALYSIS BY COUNTRY
FIGURE 13. REGULATORY GUIDELINES: DIGITAL UTILITY MARKET
FIGURE 14. VALUE CHAIN ANALYSIS: DIGITAL UTILITY MARKET
FIGURE 15. DIGITAL UTILITY MARKET, BY TECHNOLOGY, 2022(%)
FIGURE 16. COMPARATIVE SHARE ANALYSIS OF DIGITAL UTILITY MARKET FOR HARDWARE, BY COUNTRY 2022 AND 2032(%)
FIGURE 17. COMPARATIVE SHARE ANALYSIS OF DIGITAL UTILITY MARKET FOR INTEGRATED SOLUTIONS, BY COUNTRY 2022 AND 2032(%)
FIGURE 18. DIGITAL UTILITY MARKET, BY NETWORK, 2022(%)
FIGURE 19. COMPARATIVE SHARE ANALYSIS OF DIGITAL UTILITY MARKET FOR POWER GENERATION, BY COUNTRY 2022 AND 2032(%)
FIGURE 20. COMPARATIVE SHARE ANALYSIS OF DIGITAL UTILITY MARKET FOR TRANSMISSION AND DISTRIBUTION, BY COUNTRY 2022 AND 2032(%)
FIGURE 21. COMPARATIVE SHARE ANALYSIS OF DIGITAL UTILITY MARKET FOR RETAIL, BY COUNTRY 2022 AND 2032(%)
FIGURE 22. DIGITAL UTILITY MARKET BY REGION, 2022
FIGURE 23. U.S. DIGITAL UTILITY MARKET, 2022-2032 ($MILLION)
FIGURE 24. CANADA DIGITAL UTILITY MARKET, 2022-2032 ($MILLION)
FIGURE 25. MEXICO DIGITAL UTILITY MARKET, 2022-2032 ($MILLION)
FIGURE 26. GERMANY DIGITAL UTILITY MARKET, 2022-2032 ($MILLION)
FIGURE 27. UK DIGITAL UTILITY MARKET, 2022-2032 ($MILLION)
FIGURE 28. FRANCE DIGITAL UTILITY MARKET, 2022-2032 ($MILLION)
FIGURE 29. SPAIN DIGITAL UTILITY MARKET, 2022-2032 ($MILLION)
FIGURE 30. ITALY DIGITAL UTILITY MARKET, 2022-2032 ($MILLION)
FIGURE 31. REST OF EUROPE DIGITAL UTILITY MARKET, 2022-2032 ($MILLION)
FIGURE 32. CHINA DIGITAL UTILITY MARKET, 2022-2032 ($MILLION)
FIGURE 33. INDIA DIGITAL UTILITY MARKET, 2022-2032 ($MILLION)
FIGURE 34. JAPAN DIGITAL UTILITY MARKET, 2022-2032 ($MILLION)
FIGURE 35. SOUTH KOREA DIGITAL UTILITY MARKET, 2022-2032 ($MILLION)
FIGURE 36. AUSTRALIA DIGITAL UTILITY MARKET, 2022-2032 ($MILLION)
FIGURE 37. REST OF ASIA-PACIFIC DIGITAL UTILITY MARKET, 2022-2032 ($MILLION)
FIGURE 38. BRAZIL DIGITAL UTILITY MARKET, 2022-2032 ($MILLION)
FIGURE 39. SAUDI ARABIA DIGITAL UTILITY MARKET, 2022-2032 ($MILLION)
FIGURE 40. SOUTH AFRICA DIGITAL UTILITY MARKET, 2022-2032 ($MILLION)
FIGURE 41. REST OF LAMEA DIGITAL UTILITY MARKET, 2022-2032 ($MILLION)
FIGURE 42. TOP WINNING STRATEGIES, BY YEAR
FIGURE 43. TOP WINNING STRATEGIES, BY DEVELOPMENT
FIGURE 44. TOP WINNING STRATEGIES, BY COMPANY
FIGURE 45. PRODUCT MAPPING OF TOP 10 PLAYERS
FIGURE 46. COMPETITIVE DASHBOARD
FIGURE 47. COMPETITIVE HEATMAP: DIGITAL UTILITY MARKET
FIGURE 48. TOP PLAYER POSITIONING, 2022
FIGURE 49. ABB LTD.: NET REVENUE, 2020-2022 ($MILLION)
FIGURE 50. ABB LTD.: RESEARCH & DEVELOPMENT EXPENDITURE, 2020-2022 ($MILLION)
FIGURE 51. ABB LTD.: REVENUE SHARE BY REGION, 2022 (%)
FIGURE 52. ABB LTD.: REVENUE SHARE BY SEGMENT, 2022 (%)
FIGURE 53. GENERAL ELECTRIC COMPANY: NET REVENUE, 2020-2022 ($MILLION)
FIGURE 54. GENERAL ELECTRIC COMPANY: REVENUE SHARE BY SEGMENT, 2022 (%)
FIGURE 55. GENERAL ELECTRIC COMPANY: REVENUE SHARE BY REGION, 2021 (%)
FIGURE 56. SAP SE: NET REVENUE, 2020-2022 ($MILLION)
FIGURE 57. SAP SE: RESEARCH & DEVELOPMENT EXPENDITURE, 2020-2022 ($MILLION)
FIGURE 58. SAP SE: REVENUE SHARE BY SEGMENT, 2022 (%)
FIGURE 59. SAP SE: REVENUE SHARE BY REGION, 2022 (%)
FIGURE 60. ORACLE CORPORATION.: NET REVENUE, 2020-2022 ($MILLION)
FIGURE 61. ORACLE CORPORATION.: RESEARCH & DEVELOPMENT EXPENDITURE, 2020-2022 ($MILLION)
FIGURE 62. ORACLE CORPORATION.: REVENUE SHARE BY SEGMENT, 2022 (%)
FIGURE 63. ORACLE CORPORATION.: REVENUE SHARE BY REGION, 2022 (%)
FIGURE 64. CISCO SYSTEMS INC.: RESEARCH & DEVELOPMENT EXPENDITURE, 2020-2022 ($MILLION)
FIGURE 65. CISCO SYSTEMS INC.: NET SALES, 2020-2022 ($MILLION)
FIGURE 66. CISCO SYSTEMS INC.: REVENUE SHARE BY SEGMENT, 2022 (%)
FIGURE 67. CISCO SYSTEMS INC.: REVENUE SHARE BY REGION, 2022 (%)
FIGURE 68. ACCENTURE PLC: NET REVENUE, 2020-2022 ($MILLION)
FIGURE 69. ACCENTURE PLC: RESEARCH & DEVELOPMENT EXPENDITURE, 2020-2022 ($MILLION)
FIGURE 70. ACCENTURE PLC: REVENUE SHARE BY REGION, 2022 (%)
FIGURE 71. ACCENTURE PLC: REVENUE SHARE BY SEGMENT, 2022 (%)
FIGURE 72. MICROSOFT CORPORATION: NET REVENUE, 2020-2022 ($MILLION)
FIGURE 73. MICROSOFT CORPORATION: RESEARCH & DEVELOPMENT EXPENDITURE, 2020-2022 ($MILLION)
FIGURE 74. MICROSOFT CORPORATION: REVENUE SHARE BY SEGMENT, 2022 (%)
FIGURE 75. MICROSOFT CORPORATION: REVENUE SHARE BY REGION, 2022 (%)
FIGURE 76. SCHNEIDER ELECTRIC SE.: NET REVENUE, 2020-2022 ($MILLION)
FIGURE 77. SCHNEIDER ELECTRIC SE.: RESEARCH & DEVELOPMENT EXPENDITURE, 2020-2022 ($MILLION)
FIGURE 78. SCHNEIDER ELECTRIC SE.: REVENUE SHARE BY SEGMENT, 2022 (%)
FIGURE 79. SCHNEIDER ELECTRIC SE.: REVENUE SHARE BY REGION, 2022 (%)
FIGURE 80. SIEMENS: NET REVENUE, 2020-2022 ($MILLION)
FIGURE 81. SIEMENS: REVENUE SHARE BY SEGMENT, 2022 (%)
FIGURE 82. SIEMENS: REVENUE SHARE BY REGION, 2022 (%)
FIGURE 83. CAPGEMINI: NET REVENUE, 2020-2022 ($MILLION)
FIGURE 84. CAPGEMINI: REVENUE SHARE BY REGION, 2022 (%)
FIGURE 85. CAPGEMINI: REVENUE SHARE BY SEGMENT, 2022 (%)

Executive Summary

According to a new report, titled, 'Digital Utility Market,' The digital utility market was valued at $214.2 million in 2022, and is estimated to reach $594.2 million by 2032, growing at a CAGR of 10.8% from 2023 to 2032.

Digital utility refers to the utilization of digital technologies and data-driven solutions to optimize the delivery, management, and consumption of utility services such as electricity, water, gas, and waste management. It involves the integration of advanced technologies such as smart grids, sensors, Internet of Things (IoT) devices, artificial intelligence (AI), and analytics to enable efficient resource management, enhance operational effectiveness, and provide personalized user experiences.

Digital utility involves the implementation of smart grids, which leverage advanced metering infrastructure, real-time monitoring, and control systems to enable two-way communication between utilities and consumers. This allows for optimized energy distribution, demand response management, and improved grid reliability. Digital utility solutions focus on energy optimization by leveraging data analytics, predictive modeling, and AI algorithms to analyze consumption patterns, identify energy-saving opportunities, and enable better load management. It also includes integrating renewable energy sources and facilitating energy storage technologies.

The growing focus on renewable energy projects and energy storage devices, thermally activated technologies, and transmission & distribution systems have allowed an increase in investments in renewable energy projects. The United Nations Environment Program published a report indicating that global investment in renewable energy projects increased to $272.9 billion in 2018, signifying the fifth year in a row that the investment exceeded $250 billion. In addition, stringent regulatory standards and an increase in distributed and renewable power generation initiatives drive the expansion of the digital utility market. Digital utility solutions are in high demand due to the benefits provided by technologies such as digital asset management, digital utility maturity assessment, and digital utility enterprise architecture.

The adoption of digital utilities offers numerous advantages for energy operations, including increased efficiency, decreased outages, and proactive maintenance. A rise in digitization is anticipated to make digital utility a more desirable option. However, implementing digital utilities for energy grid operations involves numerous expenses. Globally, most of the transmission and distribution networks were constructed in the 20th century, making them incompatible with digital integration. Modern software components and digital utility solutions cannot be implemented on outdated utility equipment. It requires the replacement of all network components with their modern equivalents. The replacement significantly increases the cost of operating digital utility solutions. Some of the most prominent digital utility solution providers are engineering firms, and their proprietary software operates solely on outdated equipment and outdated hardware It hinders interoperability and increases costs. Massive investments in digital utility solutions are expected to provide marginal benefits, if any, to countries that are developing or underdeveloped, as several fundamental issues regarding power generation, transmission, and distribution remain unresolved. The cost of integrating digital utilities restricts their adoption and poses a significant obstacle to the market's expansion.

Digitalization in plants has increased due to the growth of digital technology and the emergence of software distribution models, such as software services. This software makes digital solutions more cost-effective for developers. Moreover, the use of digital solutions in power plants can reduce carbon dioxide emissions by facilitating fuel analysis and enhanced combustion performance. It increases flexibility to increase the proportion of renewable energy sources and mitigate cycling's negative effects. In addition, digitalization permits the developer to adapt to regulatory and market changes. In buildings, digitalization and technological advancement are expected to facilitate energy efficiency and enhanced power management. Sensors used in the digitalization of buildings must be able to detect energy and electricity demand, temperature, air quality, presence of moisture, and its impact. Digital technologies and solutions will be required to realize automated, energy-efficient buildings. In new construction and existing buildings, an increase in the number of standards and guidelines regarding future-oriented, integrated investment strategies for digitalization technologies related to buildings will offer lucrative opportunities for the digital utility market.

The digital utility market is segmented on the basis of technology, network, and region. On the basis of technology, the market is divided into hardware and integrated solutions. Furthermore, on the basis of the network, it is classified into power generation, transmission and distribution, and retail. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The major players operating in the global digital utility market are ABB Ltd., General Electric Company, Siemens AG, SAP SE, Oracle Corporation., Cisco Systems Inc., Accenture plc, Capgemini SE, Microsoft Corporation, and Schneider Electric SE.

Key findings of the study

  • By technology, the hardware segment is expected to grow at a CAGR of 10.9%, in terms of revenue, during the forecast period.
  • By network, the transmission and distribution segment is expected to grow at a CAGR of 10.9%, in terms of revenue, during the forecast period.
  • Region-wise, Asia-Pacific garnered a major share in 2022 in terms of revenue.

Companies Mentioned

  • ABB Ltd.
  • Accenture plc
  • Capgemini
  • Cisco Systems Inc.
  • General Electric Company
  • Microsoft Corporation
  • Oracle Corporation.
  • SAP SE
  • Schneider Electric SE.
  • Siemens

Methodology

The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.

They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.

They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:

  • Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic news articles and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast

Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.

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Table Information

Report AttributeDetails
No. of Pages450
PublishedJune 2023
Forecast Period2022 - 2032
Estimated Market Value ( USD ) in 2022 $ 214.2 million
Forecasted Market Value ( USD ) by 2032 $ 594.2 million
Compound Annual Growth Rate10.7%
Regions CoveredGlobal
No. of Companies Mentioned10

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