Global Digital Utility Market by Technology (Integrated Solutions, Hardware), by Network (Generation, Transmission & Distribution, Retail) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Industry Insights

In 2016, the global digital utility market was worth USD 117.7 million. The market is expected to grow at 11.6% during the forecast period. Market growth is being fueled by the increasing number of renewable power generator projects and mandates for energy efficiency. Market growth is further stimulated by stringent regulatory policies.

The rising demand for green energy and rapid digitization are driving the market for digital utility solutions. The market will see a boost from the increasing penetration of digital technology and the spiralling demand for domestic electricity, such as in India and China.

The U.S. market is expected to have the largest North American market share during the forecast period. The market is growing due to the increasing use of renewable energy and rising environmental concerns. The country is expected to see a rise in government initiatives that support the digital transformation.

Digital utility solutions allow power plants to efficiently manage their operations and reduce greenhouse gas emissions. The market will be strengthened by strict regulatory norms over the forecast period.

The market will likely see a significant increase in data collection and exchange, as well as an increase in connected devices. Technology factors like predictive maintenance, information exchange, operational control solutions, and predictive maintenance play a crucial role in the growth of the market.

Technology Insights

Digital utility technology can be used to communicate, network, or use mobile devices. Digital utility hardware and integrated solutions are created to meet the requirements of users in relation to utility operations. These solutions scan, record and maintain asset performance.

In 2016, hardware is expected to lead the market as the most revenue-generating technology segment. The segment is growing due to technological developments in hardware, as well as the extensive use of smart meters and transformers and other intelligent equipment. Organizations are looking for smart grid solutions because they allow predictive maintenance, real time analytics, and effective asset managing.

Over the forecast period, the segment of integrated solutions is expected to see the highest CAGR. Cloud and software services are two types of integrated solutions that are available in the market. Software solutions are useful for digitizing assets, optimising operations, improving reliability, and providing flexibility.

Network Insights

The market for digital utilities can be divided by network into three segments: transmission & distribution, generation, and retail. Over the forecast period, the transmission & distribution segment will dominate the market. Because of the increasing importance placed on monitoring and managing electric transmission and distribution systems, transmission & distribution solutions are used widely in the utility sector.

Retail is expected to experience the greatest CAGR in the coming years. The segment is expected to grow rapidly over the forecast period thanks to the widespread use of data extraction and analytics technologies for customer management.

Regional Insights

Due to rising investment in electrical infrastructure and the growing number of renewable power stations, the North American market was the largest in terms of market revenue in 2016. The market will likely grow due to digitalization and the rise of connected devices.

Asia Pacific will be the region's most promising market in the same time frame. The region's rising demand for electricity and changes in regulatory norms are expected to increase the demand for digital utility services. The market is expected to see remarkable growth due to APAC's growing energy demand and increasing infrastructural developments.

Digital Utility Market Share Insights

ABB Ltd. Capgemini SA and General Electric Company are some of the companies that operate in this market.

The competition is expected to increase with the increasing number of market players. It is expected to lower the cost of digital utility services in the next few years. To meet changing consumer demands, market players are investing in research and development.

The Report Covers Certain Segments

The report predicts revenue growth at both the country and global levels. It also provides analysis of industry trends for each sub-segment from 2014 through 2025. Up Market Research has divided the global digital utility market report by technology, region, and network.

• Technology Outlook (Revenue USD Billion, 2014-2025)

  • Hardware

  • Integrated Solutions

• Network Outlook (Revenue, USD Billion, 2014 - 2025)

  • Generation

  • Transmission & Distribution

  • Retail

• Regional Outlook (Revenue USD Billion, 2014-2025)

  • North America

    • The U.S.

    • Canada

  • Europe

    • Germany

    • France

  • Asia Pacific

    • China

    • India

    • Japan

  • Rest of the World

Up Market Research published a new report titled “Digital Utility Market research report which is segmented by Technology (Integrated Solutions, Hardware), by Network (Generation, Transmission & Distribution, Retail), By Players/Companies cloud and software services The software solution assists in digitizing assets, improving reliability, providing flexibility, optimizing operations”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Digital Utility Market Report Segments:

The market is segmented by Technology (Integrated Solutions, Hardware), by Network (Generation, Transmission & Distribution, Retail).

Digital Utility Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Digital Utility Market

Overview of the regional outlook of the Digital Utility Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Digital Utility Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Digital Utility Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Integrated Solutions

                2. Hardware

                1. Generation

                2. Transmission & Distribution

                3. Retail

8. Market scenario by region, sub-region, and country.
9. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
10. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
11. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Digital Utility Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

How you may use our products:

• Correctly Positioning New Products
• Market Entry Strategies
• Business Expansion Strategies
• Consumer Insights
• Understanding Competition Scenario
• Product & Brand Management
• Channel & Customer Management
• Identifying Appropriate Advertising Appeals

Reasons to Purchase the Digital Utility Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.