Key Market Insights
Increase in renewable energy projects will spur the market revenue growth
The global digital utility market accounted for US$ 191.04 Bn in 2021 and is anticipated to grow to US$ 515.24 Bn growing at a CAGR of 11.7% throughout the forecast period from 2022 to 2030.Using digital technology as an enabler of change aids utility companies to transform to new energy systems. The growth of digital utility market is driven by factors including strict environmental regulations and increase in renewable energy sector and renewable integration among others. The benefits offered by digitalization including reduced cost of operation, increase revenue and lucrative opportunities is attracting companies to adopt digitalization. Opportunities in different types of utilities will vary, for instance, fully integrated companies in regulated markets are inclined towards savings in operating costs, increased productivity and network reliability among others. The growth of the digital utility market is thus enhanced globally.
In addition, rising adoption of digital utility helps in providing contextual and real-time business insights with much better automation and integration, improved connectivity and collaboration by bifurcating processes and technology, and better mobility with devices and apps that make time and place irrelevant. For instance, AGL a leading utility provider of Australia adopted a cloud based online customer engagement platform integrated with Microsoft Azure, which resulted in 29% increase in mobile conversion and 47% more click through on web pages related to new projects.
Technology Analysis
Integrated solutions to register highest growth during the forecast period.
Based on technology, the digital utility market is segmented into hardware and integrated solution segments. Hardware segment accounted for more than 60% of the total revenue generated of the global digital utility market. Owing to rapid technological advancements in hardware including smart grids, smart meters, and transformers among other equipments. Organizations are looking for smart grid solutions as they allow for predictive maintenance, real-time analytics and efficient asset management.In contrast, integration solutions segment is expected to register highest growth during the forecast period. This can be associated with organizations rapidly deploying integrated solutions for digitally enabled workforce, assists in digitizing assets, and optimizing operations among others. Integrated solutions include both cloud as well as software services. Thus proliferating the digital utility market growth.
Network Analysis
Transmission and distribution segment expected to be dominant during the forecast period
Based on network, the global digital utility market is segmented into transmission and distribution, generation and retail. Transmission and generation segment is poised to dominate the market. This is due to the distribution and generation segment being widely used and the increasing focus on monitoring and managing electricity transmission and distribution. On the contrary, retail segment expected to witness highest growth throughout the forecast period in the digital utility market. Owing to increasing adoption of different data extraction and analytics tools for better customer management is proliferating the growth of the segment on a global scale.Regional Analysis
Rising environmental concerns to bolster the growth in Asia Pacific region
In 2021, North America region was leading the digital utility market and accounted for more than 30% of revenue generated worldwide followed by Europe. Owing to, the increasing number of renewable power plants, development of state-of-the-art infrastructure to meet increasing electricity demand among others in the region is proliferating the growth of digital utility market.In contrast, Asia Pacific region expected to grow at the highest rate. This is due to increased demand of electricity, development of smart cities and changing regulatory norms among others in the region. Thus bolstering the demand of the market in the region.
List of Companies Covered:
- General Electric Co.
- Siemens AG
- ABB Ltd.
- Accenture Plc
- Capegemini SE
- Sap SE
- IBM
- Microsoft Corporation
- Oracle Corporation
- Wipro Ltd
- Infosys Ltd
Key Industry Development:
- In January 2020, Thales group and General Electric entered into a partnership agreement to deliver a suite of cybersecurity solutions to power plant operators.
Historical & Forecast Period
This study report represents analysis of each segment from 2020 to 2030 considering 2021 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2022 to 2030.The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Digital Utility market are as follows:- Research and development budgets of manufacturers and government spending
- Revenues of key companies in the market segment
- Number of end users and consumption volume, price and value.
- Geographical revenues generate by countries considered in the report
- Micro and macro environment factors that are currently influencing the Digital Utility market and their expected impact during the forecast period.
Market Segmentation
Network
- Hardware
- Integrated Solution
Technology
- Transmission & Distribution
- Generation
- Retail
Key questions answered in this report
- What are the key micro and macro environmental factors that are impacting the growth of Digital Utility market?
- What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
- Estimated forecast and market projections up to 2030.
- Which segment accounts for the fastest CAGR during the forecast period?
- Which market segment holds a larger market share and why?
- Are low and middle-income economies investing in the Digital Utility market?
- Which is the largest regional market for Digital Utility market?
- What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
- Which are the key trends driving Digital Utility market growth?
- Who are the key competitors and what are their key strategies to enhance their market presence in the Digital Utility market worldwide?
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Table of Contents
1. Preface1.1. Report Description
1.1.1. Purpose of the Report
1.1.2. Target Audience
1.1.3. Key Offerings
1.2. Market Segmentation
1.3. Research Methodology
1.3.1. Phase I - Secondary Research
1.3.2. Phase II - Primary Research
1.3.3. Phase III - Expert Panel Review
1.3.4. Assumptions
1.3.5. Approach Adopted
2. Executive Summary
2.1. Market Snapshot: Global Digital Utility Market
2.2. Global Digital Utility Market, By Network , 2021 (US$ Billion)
2.3. Global Digital Utility Market, By Technology , 2021 (US$ Billion)
2.4. Global Digital Utility Market, By Geography, 2021 (US$ Billion)
2.5. Attractive Investment Proposition by Geography, 2021
3. Digital Utility Market: Competitive Analysis
3.1. Market Positioning of Key Digital Utility Market Vendors
3.2. Strategies Adopted by Digital Utility Market Vendors
3.3. Key Industry Strategies
3.4. Tier Analysis 2021 Versus 2030
4. Digital Utility Market: Macro Analysis & Market Dynamics
4.1. Introduction
4.2. Global Digital Utility Market Value, 2020 - 2030, (US$ Billion)
4.3. Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Key Challenges
4.3.4. Key Opportunities
4.4. Impact Analysis of Drivers and Restraints
4.5. See-Saw Analysis
5. Digital Utility Market: By Network , 2020-2030, USD (Billion)
5.1. Market Overview
5.2. Growth & Revenue Analysis: 2021 Versus 2030
5.3. Market Segmentation
5.3.1. Hardware
5.3.2. Integrated Solution
6. Digital Utility Market: By Technology , 2020-2030, USD (Billion)
6.1. Market Overview
6.2. Growth & Revenue Analysis: 2021 Versus 2030
6.3. Market Segmentation
6.3.1. Transmission & Distribution
6.3.2. Generation
6.3.3. Retail
7. North America Digital Utility Market, 2020-2030, USD (Billion)
7.1. Market Overview
7.2. Digital Utility Market: By Network , 2020-2030, USD (Billion)
7.3. Digital Utility Market: By Technology , 2020-2030, USD (Billion)
7.4.Digital Utility Market: By Region, 2020-2030, USD (Billion)
7.4.1.North America
7.4.1.1. U.S.
7.4.1.1.1. Digital Utility Market: By Network , 2020-2030, USD (Billion)
7.4.1.1.1. Digital Utility Market: By Technology , 2020-2030, USD (Billion)
7.4.1.2. Canada
7.4.1.2.1. Digital Utility Market: By Network , 2020-2030, USD (Billion)
7.4.1.2.1. Digital Utility Market: By Technology , 2020-2030, USD (Billion)
7.4.1.3. Rest of North America
7.4.1.3.1. Digital Utility Market: By Network , 2020-2030, USD (Billion)
7.4.1.3.1. Digital Utility Market: By Technology , 2020-2030, USD (Billion)
8. UK and European Union Digital Utility Market, 2020-2030, USD (Billion)
8.1. Market Overview
8.2. Digital Utility Market: By Network , 2020-2030, USD (Billion)
8.3. Digital Utility Market: By Technology , 2020-2030, USD (Billion)
8.4.Digital Utility Market: By Region, 2020-2030, USD (Billion)
8.4.1.UK and European Union
8.4.1.1. UK
8.4.1.1.1. Digital Utility Market: By Network , 2020-2030, USD (Billion)
8.4.1.1.1. Digital Utility Market: By Technology , 2020-2030, USD (Billion)
8.4.1.2. Germany
8.4.1.2.1. Digital Utility Market: By Network , 2020-2030, USD (Billion)
8.4.1.2.1. Digital Utility Market: By Technology , 2020-2030, USD (Billion)
8.4.1.3. Spain
8.4.1.3.1. Digital Utility Market: By Network , 2020-2030, USD (Billion)
8.4.1.3.1. Digital Utility Market: By Technology , 2020-2030, USD (Billion)
8.4.1.4. Italy
8.4.1.4.1. Digital Utility Market: By Network , 2020-2030, USD (Billion)
8.4.1.4.1. Digital Utility Market: By Technology , 2020-2030, USD (Billion)
8.4.1.5. France
8.4.1.5.1. Digital Utility Market: By Network , 2020-2030, USD (Billion)
8.4.1.5.1. Digital Utility Market: By Technology , 2020-2030, USD (Billion)
8.4.1.6. Rest of Europe
8.4.1.6.1. Digital Utility Market: By Network , 2020-2030, USD (Billion)
8.4.1.6.1. Digital Utility Market: By Technology , 2020-2030, USD (Billion)
9. Asia Pacific Digital Utility Market, 2020-2030, USD (Billion)
9.1. Market Overview
9.2. Digital Utility Market: By Network , 2020-2030, USD (Billion)
9.3. Digital Utility Market: By Technology , 2020-2030, USD (Billion)
9.4.Digital Utility Market: By Region, 2020-2030, USD (Billion)
9.4.1.Asia Pacific
9.4.1.1. China
9.4.1.1.1. Digital Utility Market: By Network , 2020-2030, USD (Billion)
9.4.1.1.1. Digital Utility Market: By Technology , 2020-2030, USD (Billion)
9.4.1.2. Japan
9.4.1.2.1. Digital Utility Market: By Network , 2020-2030, USD (Billion)
9.4.1.2.1. Digital Utility Market: By Technology , 2020-2030, USD (Billion)
9.4.1.3. India
9.4.1.3.1. Digital Utility Market: By Network , 2020-2030, USD (Billion)
9.4.1.3.1. Digital Utility Market: By Technology , 2020-2030, USD (Billion)
9.4.1.4. Australia
9.4.1.4.1. Digital Utility Market: By Network , 2020-2030, USD (Billion)
9.4.1.4.1. Digital Utility Market: By Technology , 2020-2030, USD (Billion)
9.4.1.5. South Korea
9.4.1.5.1. Digital Utility Market: By Network , 2020-2030, USD (Billion)
9.4.1.5.1. Digital Utility Market: By Technology , 2020-2030, USD (Billion)
9.4.1.6. Rest of Asia Pacific
9.4.1.6.1. Digital Utility Market: By Network , 2020-2030, USD (Billion)
9.4.1.6.1. Digital Utility Market: By Technology , 2020-2030, USD (Billion)
10. Latin America Digital Utility Market, 2020-2030, USD (Billion)
10.1. Market Overview
10.2. Digital Utility Market: By Network , 2020-2030, USD (Billion)
10.3. Digital Utility Market: By Technology , 2020-2030, USD (Billion)
10.4.Digital Utility Market: By Region, 2020-2030, USD (Billion)
10.4.1.Latin America
10.4.1.1. Brazil
10.4.1.1.1. Digital Utility Market: By Network , 2020-2030, USD (Billion)
10.4.1.1.1. Digital Utility Market: By Technology , 2020-2030, USD (Billion)
10.4.1.2. Mexico
10.4.1.2.1. Digital Utility Market: By Network , 2020-2030, USD (Billion)
10.4.1.2.1. Digital Utility Market: By Technology , 2020-2030, USD (Billion)
10.4.1.3. Rest of Latin America
10.4.1.3.1. Digital Utility Market: By Network , 2020-2030, USD (Billion)
10.4.1.3.1. Digital Utility Market: By Technology , 2020-2030, USD (Billion)
11. Middle East and Africa Digital Utility Market, 2020-2030, USD (Billion)
11.1. Market Overview
11.2. Digital Utility Market: By Network , 2020-2030, USD (Billion)
11.3. Digital Utility Market: By Technology , 2020-2030, USD (Billion)
11.4.Digital Utility Market: By Region, 2020-2030, USD (Billion)
11.4.1.Middle East and Africa
11.4.1.1. GCC
11.4.1.1.1. Digital Utility Market: By Network , 2020-2030, USD (Billion)
11.4.1.1.1. Digital Utility Market: By Technology , 2020-2030, USD (Billion)
11.4.1.2. Africa
11.4.1.2.1. Digital Utility Market: By Network , 2020-2030, USD (Billion)
11.4.1.2.1. Digital Utility Market: By Technology , 2020-2030, USD (Billion)
11.4.1.3. Rest of Middle East and Africa
11.4.1.3.1. Digital Utility Market: By Network , 2020-2030, USD (Billion)
11.4.1.3.1. Digital Utility Market: By Technology , 2020-2030, USD (Billion)
12. Company Profile
12.1. General Electric Co.
12.1.1. Company Overview
12.1.2. Financial Performance
12.1.3. Product Portfolio
12.1.4. Strategic Initiatives
12.2. Siemens AG
12.2.1. Company Overview
12.2.2. Financial Performance
12.2.3. Product Portfolio
12.2.4. Strategic Initiatives
12.3. ABB Ltd.
12.3.1. Company Overview
12.3.2. Financial Performance
12.3.3. Product Portfolio
12.3.4. Strategic Initiatives
12.4. Accenture Plc
12.4.1. Company Overview
12.4.2. Financial Performance
12.4.3. Product Portfolio
12.4.4. Strategic Initiatives
12.5. Capegemini SE
12.5.1. Company Overview
12.5.2. Financial Performance
12.5.3. Product Portfolio
12.5.4. Strategic Initiatives
12.6. Sap SE
12.6.1. Company Overview
12.6.2. Financial Performance
12.6.3. Product Portfolio
12.6.4. Strategic Initiatives
12.7. IBM Corporation
12.7.1. Company Overview
12.7.2. Financial Performance
12.7.3. Product Portfolio
12.7.4. Strategic Initiatives
12.8. Microsoft Corporation
12.8.1. Company Overview
12.8.2. Financial Performance
12.8.3. Product Portfolio
12.8.4. Strategic Initiatives
12.9. Oracle Corporation
12.9.1. Company Overview
12.9.2. Financial Performance
12.9.3. Product Portfolio
12.9.4. Strategic Initiatives
12.10. Wipro Ltd
12.10.1. Company Overview
12.10.2. Financial Performance
12.10.3. Product Portfolio
12.10.4. Strategic Initiatives
12.11. Infosys Ltd
12.11.1. Company Overview
12.11.2. Financial Performance
12.11.3. Product Portfolio
12.11.4. Strategic Initiatives
List of Figures
Figure 1 Global Digital Utility Market: Market Coverage
Figure 2 Research Methodology and Data Sources
Figure 3 Market Size Estimation - Top Down & Bottom-Up Approach
Figure 4 Global Digital Utility Market: Quality Assurance
Figure 5 Global Digital Utility Market, By Network , 2021
Figure 6 Global Digital Utility Market, By Technology , 2021
Figure 7 Global Digital Utility Market, By Geography, 2021
Figure 8 Market Geographical Opportunity Matrix - Global Digital Utility Market, 2021
Figure 9 Market Positioning of Key Digital Utility Market Players, 2021
Figure 10 Global Digital Utility Market - Tier Analysis - Percentage of Revenues by Tier Level, 2021 Versus 2030
Figure 11 Global Digital Utility Market, By Network , 2021 Vs 2030, %
Figure 12 Global Digital Utility Market, By Technology , 2021 Vs 2030, %
Figure 13 U.S. Digital Utility Market (US$ Billion), 2020 - 2030
Figure 14 Canada Digital Utility Market (US$ Billion), 2020 - 2030
Figure 15 Rest of North America Digital Utility Market (US$ Billion), 2020 - 2030
Figure 16 UK Digital Utility Market (US$ Billion), 2020 - 2030
Figure 17 Germany Digital Utility Market (US$ Billion), 2020 - 2030
Figure 18 Spain Digital Utility Market (US$ Billion), 2020 - 2030
Figure 19 Italy Digital Utility Market (US$ Billion), 2020 - 2030
Figure 20 France Digital Utility Market (US$ Billion), 2020 - 2030
Figure 21 Rest of Europe Digital Utility Market (US$ Billion), 2020 - 2030
Figure 22 China Digital Utility Market (US$ Billion), 2020 - 2030
Figure 23 Japan Digital Utility Market (US$ Billion), 2020 - 2030
Figure 24 India Digital Utility Market (US$ Billion), 2020 - 2030
Figure 25 Australia Digital Utility Market (US$ Billion), 2020 - 2030
Figure 26 South Korea Digital Utility Market (US$ Billion), 2020 - 2030
Figure 27 Rest of Asia Digital Utility Market (US$ Billion), 2020 - 2030
Figure 28 Brazil Digital Utility Market (US$ Billion), 2020 - 2030
Figure 29 Mexico Digital Utility Market (US$ Billion), 2020 - 2030
Figure 30 Rest of Latin America Digital Utility Market (US$ Billion), 2020 - 2030
Figure 31 GCC Digital Utility Market (US$ Billion), 2020 - 2030
Figure 32 Africa Digital Utility Market (US$ Billion), 2020 - 2030
Figure 33 Rest of Middle East and Africa Digital Utility Market (US$ Billion), 2020 - 2030
List of Tables
Table 1 Global Digital Utility Market By Network , 2020-2030, USD (Billion)
Table 2 Global Digital Utility Market By Technology , 2020-2030, USD (Billion)
Table 3 North America Digital Utility Market By Network , 2020-2030, USD (Billion)
Table 4 North America Digital Utility Market By Technology , 2020-2030, USD (Billion)
Table 5 U.S. Digital Utility Market By Network , 2020-2030, USD (Billion)
Table 6 U.S. Digital Utility Market By Technology , 2020-2030, USD (Billion)
Table 7 Canada Digital Utility Market By Network , 2020-2030, USD (Billion)
Table 8 Canada Digital Utility Market By Technology , 2020-2030, USD (Billion)
Table 9 Rest of North America Digital Utility Market By Network , 2020-2030, USD (Billion)
Table 10 Rest of North America Digital Utility Market By Technology , 2020-2030, USD (Billion)
Table 11 UK and European Union Digital Utility Market By Network , 2020-2030, USD (Billion)
Table 12 UK and European Union Digital Utility Market By Technology , 2020-2030, USD (Billion)
Table 13 UK Digital Utility Market By Network , 2020-2030, USD (Billion)
Table 14 UK Digital Utility Market By Technology , 2020-2030, USD (Billion)
Table 15 Germany Digital Utility Market By Network , 2020-2030, USD (Billion)
Table 16 Germany Digital Utility Market By Technology , 2020-2030, USD (Billion)
Table 17 Spain Digital Utility Market By Network , 2020-2030, USD (Billion)
Table 18 Spain Digital Utility Market By Technology , 2020-2030, USD (Billion)
Table 19 Italy Digital Utility Market By Network , 2020-2030, USD (Billion)
Table 20 Italy Digital Utility Market By Technology , 2020-2030, USD (Billion)
Table 21 France Digital Utility Market By Network , 2020-2030, USD (Billion)
Table 22 France Digital Utility Market By Technology , 2020-2030, USD (Billion)
Table 23 Rest of Europe Digital Utility Market By Network , 2020-2030, USD (Billion)
Table 24 Rest of Europe Digital Utility Market By Technology , 2020-2030, USD (Billion)
Table 25 Asia Digital Utility Market By Network , 2020-2030, USD (Billion)
Table 26 Asia Digital Utility Market By Technology , 2020-2030, USD (Billion)
Table 27 China Digital Utility Market By Network , 2020-2030, USD (Billion)
Table 28 China Digital Utility Market By Technology , 2020-2030, USD (Billion)
Table 29 Japan Digital Utility Market By Network , 2020-2030, USD (Billion)
Table 30 Japan Digital Utility Market By Technology , 2020-2030, USD (Billion)
Table 31 India Digital Utility Market By Network , 2020-2030, USD (Billion)
Table 32 India Digital Utility Market By Technology , 2020-2030, USD (Billion)
Table 33 Australia Digital Utility Market By Network , 2020-2030, USD (Billion)
Table 34 Australia Digital Utility Market By Technology , 2020-2030, USD (Billion)
Table 35 South Korea Digital Utility Market By Network , 2020-2030, USD (Billion)
Table 36 South Korea Digital Utility Market By Technology , 2020-2030, USD (Billion)
Table 37 Latin America Digital Utility Market By Network , 2020-2030, USD (Billion)
Table 38 Latin America Digital Utility Market By Technology , 2020-2030, USD (Billion)
Table 39 Brazil Digital Utility Market By Network , 2020-2030, USD (Billion)
Table 40 Brazil Digital Utility Market By Technology , 2020-2030, USD (Billion)
Table 41 Mexico Digital Utility Market By Network , 2020-2030, USD (Billion)
Table 42 Mexico Digital Utility Market By Technology , 2020-2030, USD (Billion)
Table 43 Rest of Latin America Digital Utility Market By Network , 2020-2030, USD (Billion)
Table 44 Rest of Latin America Digital Utility Market By Technology , 2020-2030, USD (Billion)
Table 45 Middle East and Africa Digital Utility Market By Network , 2020-2030, USD (Billion)
Table 46 Middle East and Africa Digital Utility Market By Technology , 2020-2030, USD (Billion)
Table 47 GCC Digital Utility Market By Network , 2020-2030, USD (Billion)
Table 48 GCC Digital Utility Market By Technology , 2020-2030, USD (Billion)
Table 49 Africa Digital Utility Market By Network , 2020-2030, USD (Billion)
Table 50 Africa Digital Utility Market By Technology , 2020-2030, USD (Billion)
Table 51 Rest of Middle East and Africa Digital Utility Market By Network , 2020-2030, USD (Billion)
Table 52 Rest of Middle East and Africa Digital Utility Market By Technology , 2020-2030, USD (Billion)
Companies Mentioned
- General Electric Co.
- Siemens AG
- ABB Ltd.
- Accenture Plc
- Capegemini SE
- Sap SE
- IBM
- Microsoft Corporation
- Oracle Corporation
- Wipro Ltd
- Infosys Lt.
