PUBLISHER: The Business Research Company | PRODUCT CODE: 2104672
PUBLISHER: The Business Research Company | PRODUCT CODE: 2104672
Utilities refer to essential public services that supply basic needs such as electricity, water, natural gas, and sewage management to residential, commercial, industrial, and institutional users. These services are fundamental to modern living and economic activity, ensuring access to clean water, reliable energy, and waste management. Utilities are used continuously in daily life for activities such as lighting, heating, cooling, sanitation, manufacturing, and infrastructure operations. They are typically consumed in real time, meaning production and consumption occur simultaneously, particularly in the case of electricity and water supply systems.
The utilities market consists of sales of utilities by entities (organizations, sole traders and partnerships) that provide essential services including electricity, water supply, sewage treatment, and natural gas distribution to end users. These services are critical to residential, commercial, and industrial operations and are delivered through established infrastructure systems, software and related technologies designed for continuous and reliable supply.
The global utilities market was valued at $4,677.8 billion in 2020 which grew till 2025 at a compound annual growth rate (CAGR) of more than 8.00%.
Rising Investments In Utility-Scale Energy Storage Projects
During the historic period, the utilities market was driven by the rising investments in utility-scale energy storage projects. As renewable energy sources like solar and wind which are intermittent by nature account for a growing share of the power mix, storage systems such as lithium-ion batteries, pumped hydro, and flow batteries capture excess energy generated during peak production periods (e.g., sunny afternoons or windy nights) and release it during high-demand hours or when generation lulls. For example, in November 2025, Adani Group, an India-based conglomerate company, announced its entry into the Battery Energy Storage Systems (BESS) sector with a pioneering 1126 megawatts (MW) / 3530 megawatts hours (MWh) project, the BESS project would have a power capacity of 1126 MW and energy capacity 3530 MWh. This means that BESS would be able to store 3530 MWh of energy - extending power capacity of 1126 MW by ~3 hours). This project, entailing deployment of more than 700 BESS containers, will be the largest BESS installation in India and one of the world's largest single-location BESS deployments. Therefore, the utilities market was driven by the rising investments in utility-scale energy storage projects.
Artificial Intelligence And Autonomous Intelligence
Major companies operating in the utilities market are increasingly focusing on integrating artificial intelligence and grid edge intelligence capabilities to enhance real-time decision-making, improve grid resilience and optimize distributed energy resource (DER) management. These solutions leverage edge computing, advanced analytics and AI-powered platforms to process large volumes of data locally, enabling faster insights, reduced latency and improved operational efficiency. The growing complexity of decentralized energy systems and increasing demand for real-time grid visibility are accelerating the adoption of such intelligent solutions. For instance, in March 2025, Itron, Inc., a US-based provider of grid edge intelligence and metering solutions, collaborated with NVIDIA to integrate NVIDIA's AI-powered technologies, including the Jetson Orin Nano and NVIDIA AI Enterprise platforms, into its Grid Edge Intelligence portfolio. This integration enables utilities to perform real-time data processing at the grid edge, supporting applications such as demand forecasting, distributed energy resource management and enhanced grid resilience, thereby improving overall grid performance and operational agility.
The global utilities market is fairly fragmented, with a large number of small players operating in the market. The top 10 competitors in the market made up 13.3% of the total market in 2024.
Utilities Global Market Opportunities And Strategies To 2035 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global utilities market as it emerges from the COVID-19 shut down.
Where is the largest and fastest-growing market for utilities? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The utilities market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider utilities; and compares it with other markets.