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Global Digital Power Utility Market to reach USD XX billion by the end of 2030

Global Digital Power Utility Market Size study & Forecast, by Technology (Hardware, Software & Service), by Sector (Power Generation, Transmission & Distribution, Power Consumption) and Regional Analysis, 2023-2030

Product Code: EPPGS-84026098
Publish Date: 10-08-2023
Page: 200

Global Digital Power Utility Market is valued at approximately USD XX billion in 2022 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2023-2030. A Digital Power Utility refers to the integration of advanced digital technologies into the operations and management of a power utility. The traditional power utility industry has been undergoing a transformation driven by rapid advancements in digital technologies, data analytics, and automation. The aim is to enhance efficiency, reliability, and sustainability while providing better services to customers. The key factors driving the market growth are growing capital investment in renewable energy projects, rising implementation of smart grid, and rising demand for energy in various sectors is anticipated to promote the adoption of digitalization that anticipated to support the market growth during the forecast period 2023-2030.

Moreover, the growing demand for smart grids is a significant factor supporting the growth of the digital power utility market. As the world shifts towards a cleaner and more sustainable energy mix, there is increasing integration of renewable energy sources such as solar, wind, and hydroelectric power. Smart grids play a crucial role in efficiently integrating these intermittent energy sources into the grid. Digital power utility solutions enable real-time monitoring and control of renewable energy generation, ensuring its smooth integration and optimizing its use. According to Statista, in 2022, the global Smart grid technology market was valued at USD 49.7 billion, and it is anticipated to reach USD 130.2 billion by 2028. Additionally, cohesive government initiatives are anticipated to create lucrative opportunities for the market during the forecast period. However, the high operating cost to transform the existing infrastructure stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Digital Power Utility Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the rise in the footprint of various sectors in the region, which has led to the expansion of the power transmission & distribution industry. Also, the increasing need for intelligent buildings and building automation contributed to the installation of smart metering and sensors in the area, and that also supported the market growth. Whereas, the Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as the rising government backing, adoption of green building trends, and investment in renewable energy are the key factors contributing to the market’s expansion. It is anticipated that the expansion of fossil fuel power generation in countries such as China and India would expand the region’s market.

Major market player included in this report are:
ABB Ltd. (Switzerland)
General Electric Company (U.S.)
Siemens (Germany)
Accenture Plc (Ireland)
Capgemini Ltd (France)
SAP SE (Germany)
International Business Machines Corporation (U.S.)
Microsoft Corporation (U.S.)
Oracle Corporation (U.S.)
Wipro Ltd (India)
Recent Developments in the Market:
Ø In October 2021, Wipro Limited, an Indian multinational corporation, has entered into a multi-year worldwide strategic IT and digital agreement with National Grid, a British multinational electricity and gas utility company, to accelerate its digital innovation journey.
Global Digital Power Utility Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Technology, Sector, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Technology:
Software & Service
By Sector:
Power Generation
Transmission & Distribution
Power Consumption
By Region:

North America


Asia Pacific
South Korea

Latin America

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. Digital Power Utility Market, by Region, 2020-2030 (USD Billion)
1.2.2. Digital Power Utility Market, by Technology, 2020-2030 (USD Billion)
1.2.3. Digital Power Utility Market, by Sector, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Digital Power Utility Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Digital Power Utility Market Dynamics
3.1. Digital Power Utility Market Impact Analysis (2020-2030)
3.1.1. Market Drivers Growing capital investment in renewable energy projects Rising implementation of smart grid Rising demand for energy in various sectors
3.1.2. Market Challenges High operating cost to transform the existing infrastructure
3.1.3. Market Opportunities Cohesive government initiatives Growing power Consumption
Chapter 4. Global Digital Power Utility Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Digital Power Utility Market, by Technology
5.1. Market Snapshot
5.2. Global Digital Power Utility Market by Technology, Performance – Potential Analysis
5.3. Global Digital Power Utility Market Estimates & Forecasts by Technology 2020-2030 (USD Billion)
5.4. Digital Power Utility Market, Sub Segment Analysis
5.4.1. Hardware
5.4.2. Software & Service
Chapter 6. Global Digital Power Utility Market, by Sector
6.1. Market Snapshot
6.2. Global Digital Power Utility Market by Sector, Performance – Potential Analysis
6.3. Global Digital Power Utility Market Estimates & Forecasts by Sector 2020-2030 (USD Billion)
6.4. Digital Power Utility Market, Sub Segment Analysis
6.4.1. Power Generation
6.4.2. Transmission & Distribution
6.4.3. Power Consumption
Chapter 7. Global Digital Power Utility Market, Regional Analysis
7.1. Top Leading Countries
7.2. Top Emerging Countries
7.3. Digital Power Utility Market, Regional Market Snapshot
7.4. North America Digital Power Utility Market
7.4.1. U.S. Digital Power Utility Market Technology breakdown estimates & forecasts, 2020-2030 Sector breakdown estimates & forecasts, 2020-2030
7.4.2. Canada Digital Power Utility Market
7.5. Europe Digital Power Utility Market Snapshot
7.5.1. U.K. Digital Power Utility Market
7.5.2. Germany Digital Power Utility Market
7.5.3. France Digital Power Utility Market
7.5.4. Spain Digital Power Utility Market
7.5.5. Italy Digital Power Utility Market
7.5.6. Rest of Europe Digital Power Utility Market
7.6. Asia-Pacific Digital Power Utility Market Snapshot
7.6.1. China Digital Power Utility Market
7.6.2. India Digital Power Utility Market
7.6.3. Japan Digital Power Utility Market
7.6.4. Australia Digital Power Utility Market
7.6.5. South Korea Digital Power Utility Market
7.6.6. Rest of Asia Pacific Digital Power Utility Market
7.7. Latin America Digital Power Utility Market Snapshot
7.7.1. Brazil Digital Power Utility Market
7.7.2. Mexico Digital Power Utility Market
7.8. Middle East & Africa Digital Power Utility Market
7.8.1. Saudi Arabia Digital Power Utility Market
7.8.2. South Africa Digital Power Utility Market
7.8.3. Rest of Middle East & Africa Digital Power Utility Market

Chapter 8. Competitive Intelligence
8.1. Key Company SWOT Analysis
8.1.1. Company 1
8.1.2. Company 2
8.1.3. Company 3
8.2. Top Market Strategies
8.3. Company Profiles
8.3.1. ABB Ltd (Switzerland) Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
8.3.2. General Electric Company (U.S.)
8.3.3. Siemens (Germany)
8.3.4. Accenture Plc (Ireland)
8.3.5. Capgemini Ltd (France)
8.3.6. SAP SE (Germany)
8.3.7. International Business Machines Corporation (U.S.)
8.3.8. Microsoft Corporation (U.S.)
8.3.9. Oracle Corporation (U.S.)
8.3.10. Wipro Ltd (India)
Chapter 9. Research Process
9.1. Research Process
9.1.1. Data Mining
9.1.2. Analysis
9.1.3. Market Estimation
9.1.4. Validation
9.1.5. Publishing
9.2. Research Attributes
9.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
After conducting the research, our experts analyze the findings in relation to the research objectives and the specific needs of the client. They generate valuable insights and recommendations that directly address the client’s business challenges. These insights are carefully connected to the research findings to provide a comprehensive understanding.
Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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