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PUBLISHER: Acute Market Reports | PRODUCT CODE: 1128633

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PUBLISHER: Acute Market Reports | PRODUCT CODE: 1128633

Digital Utility Market - Growth, Future Prospects and Competitive Analysis, 2022 - 2030

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PAGES: 115 Pages
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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 forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

ATTRIBUTE DETAILS

Research Period 2020-2030

Base Year 2021

Forecast Period 2022-2030

Historical Year 2020

Unit USD Billion

Segmentation

Network

Hardware

Integrated Solution

Technology

Transmission & Distribution

Generation

Retail

Region Segment (2020-2030; US$ Billion)

North America

U.S.

Canada

Rest of North America

UK and European Union

UK

Germany

Spain

Italy

France

Rest of Europe

Asia Pacific

China

Japan

India

Australia

South Korea

Rest of Asia Pacific

Latin America

Brazil

Mexico

Rest of Latin America

Middle East and Africa

GCC

Africa

Rest of Middle East and Africa

Global Impact of COVID-19 Segment (2020-2021; US$ Billion )

Pre COVID-19 situation

Post COVID-19 situation

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?
Product Code: 139175-08-22

Table of Contents

1. Preface

  • 1.1. 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. Impact of Covid 19
  • 2.6. Attractive Investment Proposition by Geography, 2021
  • 2.7. Competitive Analysis
    • 2.7.1. Market Positioning of Key Digital Utility Market Vendors
    • 2.7.2. Strategies Adopted by Digital Utility Market Vendors
    • 2.7.3. Key Industry Strategies

3. Digital Utility Market: Business Outlook & Market Dynamics

  • 3.1. Introduction
  • 3.2. Global Digital Utility Market Value, 2020 - 2030, (US$ Billion)
  • 3.3. Market Dynamics
    • 3.3.1. Market Drivers
    • 3.3.2. Market Restraints
    • 3.3.3. Key Challenges
    • 3.3.4. Key Opportunities
  • 3.4. Impact Analysis of Drivers and Restraints
  • 3.5. See-Saw Analysis
  • 3.6. Porter's Five Force Model
    • 3.6.1. Supplier Power
    • 3.6.2. Buyer Power
    • 3.6.3. Threat Of Substitutes
    • 3.6.4. Threat Of New Entrants
    • 3.6.5. Competitive Rivalry
  • 3.7. PESTEL Analysis
    • 3.7.1. Political Landscape
    • 3.7.2. Economic Landscape
    • 3.7.3. Technology Landscape
    • 3.7.4. Legal Landscape
    • 3.7.5. Social Landscape

4. Digital Utility Market: By Network , 2020-2030, USD (Billion)

  • 4.1. Market Overview
  • 4.2. Growth & Revenue Analysis: 2021 Versus 2030
  • 4.3. Market Segmentation
    • 4.3.1. Hardware
    • 4.3.2. Integrated Solution

5. Digital Utility Market: By Technology , 2020-2030, USD (Billion)

  • 5.1. Market Overview
  • 5.2. Growth & Revenue Analysis: 2021 Versus 2030
  • 5.3. Market Segmentation
    • 5.3.1. Transmission & Distribution
    • 5.3.2. Generation
    • 5.3.3. Retail

6. North America Digital Utility Market, 2020-2030, USD (Billion)

  • 6.1. Market Overview
  • 6.2. Digital Utility Market: By Network , 2020-2030, USD (Billion)
  • 6.3. Digital Utility Market: By Technology , 2020-2030, USD (Billion)
  • 6.4.Digital Utility Market: By Region, 2020-2030, USD (Billion)
    • 6.4.1.North America
      • 6.4.1.1. U.S.
      • 6.4.1.2. Canada
      • 6.4.1.3. Rest of North America

7. UK and European Union 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.UK and European Union
      • 7.4.1.1. UK
      • 7.4.1.2. Germany
      • 7.4.1.3. Spain
      • 7.4.1.4. Italy
      • 7.4.1.5. France
      • 7.4.1.6. Rest of Europe

8. Asia Pacific 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.Asia Pacific
      • 8.4.1.1. China
      • 8.4.1.2. Japan
      • 8.4.1.3. India
      • 8.4.1.4. Australia
      • 8.4.1.5. South Korea
      • 8.4.1.6. Rest of Asia Pacific

9. Latin America 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.Latin America
      • 9.4.1.1. Brazil
      • 9.4.1.2. Mexico
      • 9.4.1.3. Rest of Latin America

10. Middle East and Africa 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.Middle East and Africa
      • 10.4.1.1. GCC
      • 10.4.1.2. Africa
      • 10.4.1.3. Rest of Middle East and Africa

11. Company Profile

  • 11.1. General Electric Co.
    • 11.1.1. Company Overview
    • 11.1.2. Financial Performance
    • 11.1.3. Product Portfolio
    • 11.1.4. Strategic Initiatives
  • 11.2. Siemens AG
    • 11.2.1. Company Overview
    • 11.2.2. Financial Performance
    • 11.2.3. Product Portfolio
    • 11.2.4. Strategic Initiatives
  • 11.3. ABB Ltd.
    • 11.3.1. Company Overview
    • 11.3.2. Financial Performance
    • 11.3.3. Product Portfolio
    • 11.3.4. Strategic Initiatives
  • 11.4. Accenture Plc
    • 11.4.1. Company Overview
    • 11.4.2. Financial Performance
    • 11.4.3. Product Portfolio
    • 11.4.4. Strategic Initiatives
  • 11.5. Capegemini SE
    • 11.5.1. Company Overview
    • 11.5.2. Financial Performance
    • 11.5.3. Product Portfolio
    • 11.5.4. Strategic Initiatives
  • 11.6. Sap SE
    • 11.6.1. Company Overview
    • 11.6.2. Financial Performance
    • 11.6.3. Product Portfolio
    • 11.6.4. Strategic Initiatives
  • 11.7. IBM Corporation
    • 11.7.1. Company Overview
    • 11.7.2. Financial Performance
    • 11.7.3. Product Portfolio
    • 11.7.4. Strategic Initiatives
  • 11.8. Microsoft Corporation
    • 11.8.1. Company Overview
    • 11.8.2. Financial Performance
    • 11.8.3. Product Portfolio
    • 11.8.4. Strategic Initiatives
  • 11.9. Oracle Corporation
    • 11.9.1. Company Overview
    • 11.9.2. Financial Performance
    • 11.9.3. Product Portfolio
    • 11.9.4. Strategic Initiatives
  • 11.10. Wipro Ltd
    • 11.10.1. Company Overview
    • 11.10.2. Financial Performance
    • 11.10.3. Product Portfolio
    • 11.10.4. Strategic Initiatives
  • 11.11. Infosys Ltd
    • 11.11.1. Company Overview
    • 11.11.2. Financial Performance
    • 11.11.3. Product Portfolio
    • 11.11.4. Strategic Initiatives
Product Code: 139175-08-22

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 UK and European Union Digital Utility Market By Network , 2020-2030, USD (Billion)
  • TABLE 6 UK and European Union Digital Utility Market By Technology , 2020-2030, USD (Billion)
  • TABLE 7 Asia Pacific Digital Utility Market By Network , 2020-2030, USD (Billion)
  • TABLE 8 Asia Pacific Digital Utility Market By Technology , 2020-2030, USD (Billion)
  • TABLE 9 Latin America Digital Utility Market By Network , 2020-2030, USD (Billion)
  • TABLE 10 Latin America Digital Utility Market By Technology , 2020-2030, USD (Billion)
  • TABLE 11 Middle East and Africa Digital Utility Market By Network , 2020-2030, USD (Billion)
  • TABLE 12 Middle East and Africa Digital Utility Market By Technology , 2020-2030, USD (Billion)

List of Figures

  • FIG. 1 Global Digital Utility Market: Market Coverage
  • FIG. 2 Research Methodology and Data Sources
  • FIG. 3 Market Size Estimation - Top Down & Bottom-Up Approach
  • FIG. 4 Global Digital Utility Market: Quality Assurance
  • FIG. 5 Global Digital Utility Market, By Network , 2021
  • FIG. 6 Global Digital Utility Market, By Technology , 2021
  • FIG. 7 Global Digital Utility Market, By Geography, 2021
  • FIG. 8 Global Digital Utility Market, By Network , 2021 Vs 2030, %
  • FIG. 9 Global Digital Utility Market, By Technology , 2021 Vs 2030, %
  • FIG. 10 U.S. Digital Utility Market (US$ Billion), 2020 - 2030
  • FIG. 11 Canada Digital Utility Market (US$ Billion), 2020 - 2030
  • FIG. 12 Rest of North America Digital Utility Market (US$ Billion), 2020 - 2030
  • FIG. 13 UK Digital Utility Market (US$ Billion), 2020 - 2030
  • FIG. 14 Germany Digital Utility Market (US$ Billion), 2020 - 2030
  • FIG. 15 Spain Digital Utility Market (US$ Billion), 2020 - 2030
  • FIG. 16 Italy Digital Utility Market (US$ Billion), 2020 - 2030
  • FIG. 17 France Digital Utility Market (US$ Billion), 2020 - 2030
  • FIG. 18 Rest of Europe Digital Utility Market (US$ Billion), 2020 - 2030
  • FIG. 19 China Digital Utility Market (US$ Billion), 2020 - 2030
  • FIG. 20 Japan Digital Utility Market (US$ Billion), 2020 - 2030
  • FIG. 21 India Digital Utility Market (US$ Billion), 2020 - 2030
  • FIG. 22 Australia Digital Utility Market (US$ Billion), 2020 - 2030
  • FIG. 23 South Korea Digital Utility Market (US$ Billion), 2020 - 2030
  • FIG. 24 Rest of Asia Digital Utility Market (US$ Billion), 2020 - 2030
  • FIG. 25 Brazil Digital Utility Market (US$ Billion), 2020 - 2030
  • FIG. 26 Mexico Digital Utility Market (US$ Billion), 2020 - 2030
  • FIG. 27 Rest of Latin America Digital Utility Market (US$ Billion), 2020 - 2030
  • FIG. 28 GCC Digital Utility Market (US$ Billion), 2020 - 2030
  • FIG. 29 Africa Digital Utility Market (US$ Billion), 2020 - 2030
  • FIG. 30 Rest of Middle East and Africa Digital Utility Market (US$ Billion), 2020 - 2030
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Christine Sirois

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