Dublin, Jan. 22, 2024 (GLOBE NEWSWIRE) -- The "Global Digital Utility Market Size, Share & Trends Analysis Report by Technology (Hardware, Integrated Solutions), Network (Transmission & Distribution, Retail, Generation), Region, and Segment Forecasts, 2023-2030" report has been added to ResearchAndMarkets.com's offering.
The global digital utility market is projected to reach a staggering USD 396.36 billion by 2030. This rise represents a robust compound annual growth rate (CAGR) of 9.6% from 2023 through 2030. The report delves into detailed insights on market segments, including hardware and integrated solutions, as well as network typologies like transmission & distribution, generation, and retail sectors.
In an era marked by rapid technological transformation, the power industry is steering towards the integration of digital initiatives. The report emphasizes how digital utilities are revolutionizing customer engagement and operational efficiency, spearheading a new era in power generation, distribution, and retail.
The analysis highlights the key drivers of market growth, accentuating the impact of stringent regulatory standards alongside escalating numbers of distributed and renewable power projects. With a spotlight on the technological underpinnings of the market - including advancements in digital asset management and enterprise architecture - the report outlines the potential trajectories for the industry.
Key Highlights from the Digital Utility Market Report
- The hardware segment is expected to command significant market share with the adoption of smart technology in utilities infrastructure.
- Transmission and distribution networks will likely dominate market applications, favored by their crucial role in the modernization of grid operations.
- The North American region led the market in terms of revenue contribution, with research underscoring a surge in renewable energy projects and electric infrastructure investments.
As digital utility solutions witness escalating demand, the market sees a surge in notable players who are steering the sector towards an innovative future. The comprehensive report offers a lucid understanding of market dynamics, competitive landscapes, and the strategic outlook of a rapidly evolving industry.
For industry stakeholders, utility companies, technology providers, and investors, the findings encapsulated in the report offer a foundational metric for informed decision-making and strategic planning in the arena of digital utilities.
The detailed analysis encapsulates a broad spectrum of market intelligence, from regional analyses to competitive benchmarks, setting a precedent for comprehensive, data-driven insights that are pivotal for the energy sector's digital transformation.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 79 |
| Forecast Period | 2022-2030 |
| Estimated Market Value (USD) in 2022 | $179.27 Billion |
| Forecasted Market Value (USD) by 2030 | $396.36 Billion |
| Compound Annual Growth Rate | 9.6% |
| Regions Covered | Global |
Companies Profiled
- ABB
- Capgemini
- General Electric
- Microsoft
- Oracle
- IBM Corporation
- Siemens
- SAP SE
- Eaton Corporation plc
- Schneider Electric
For more information about this report visit https://www.researchandmarkets.com/r/w6lsul
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