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Global Digital Utility Market to reach USD 463.2 billion by the end of 2029

Global Digital Utility Market Size study&Forecast, by Technology (Hardware, Integrated Solutions) by Network (Generation, Transmission & Distribution, Retail) and Regional Analysis, 2022-2029

Product Code: ICTNGT-53620096
Publish Date: 20-03-2023
Page: 200

Global Digital Utility Market is valued at approximately USD 192.5 billion in 2021and is anticipated to grow with a healthy growth rate of more than 11.6% over the forecast period 2022-2029. Digital Utility is the adoption of digital ways ofworking for the digital transformation of industries. It is the combination of real-world and project-tested services or software designed with high configuration. The digitalutility includes several digital devices used in power generation, transmission, and distribution industries to improve efficiency and productivity. Additionally, the growing number of renewable power generation projects to protect the environment and the rising penetration of digital technologies globally aredriving the market of Digital Utility.

Digital utilities allow power generation plants and projects to help reduce the emission of greenhouse gases and manage operation sefficiently. According to Statista, the market share of renewable energy generation globally has doubled in 2021 at 28%. India is the fourth-leading nation in renewable power capacity. India is also planning to increase its renewable energy capacity to 500 GW by 2030. The rising penetration of digital technologies due to emerging digital transformation is also fueling the demand for digital utilities solutions. The worldwide spending on digitalization is projected to reach USD 3.4 trillion by 2026, a 20% increase was also seen in 2021. Moreover, digital utilities reduce the emission of greenhouse gases preventing the environment from harmful effects and continuous advancements in utility solution is boosting the market demand. However, the high initial cost of Digital Utilitiesstifles market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Digital Utility Marketstudy includesAsia Pacific, North America, Europe, Latin America, and Rest of the World.North America dominated the market with the increasing number of renewable power generation plants to cater for the need of the growing population. Increasing digitalization triggers the market growth of digital utilitysolutions. Increasing investments in electric infrastructure and the number of power plants aresurging the market demand. Asia-Pacific is expected to be the fastest-growing region due to growing energy needs.Rising environmental concerns due to high emissionsof greenhouse gases arealso surging the demand fordigital utilitysolutions.Growing infrastructural development and the energy needs of individuals increase the market demand.

Major market player included in this report are:
Microsoft Corporation
Oracle Corporation
ABB Ltd.
Capgemini SE
General Electric Company
The International Business Machines Corporation IBM Corporation
Siemens AG
Infosys Ltd.
Singapore Power Limited
Wipro Ltd.
Recent Developments in the Market:
 In September 2021, Microsoft Corporation and Infosys Ltd. came into a multi-year strategic engagement with Ausgrid to accelerate cloud transformation to improve the reliability of networks.
 In March 2021, ABB achieves 5GW Milestone for providing solar plant automation solution in India based on Programmable Logic Controller (PLC).
Global Digital Utility Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Technology, Network, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
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 incorporatespotential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Technology offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Technology:
Integrated Solutions
By Network:
Transmission & Distribution
By Region:
North America
Asia Pacific
South Korea
Latin America
Rest of the World

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2029 (USD Billion)
1.2.1. Digital Utility Market, by Region, 2019-2029 (USD Billion)
1.2.2. Digital Utility Market, by Technology,2019-2029 (USD Billion)
1.2.3. Digital Utility Market, by Network, 2019-2029 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Digital Utility Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Digital Utility Market Dynamics
3.1. Digital Utility Market Impact Analysis (2019-2029)
3.1.1. Market Drivers Growing number of renewable power generation projects Rising penetration of digital technologies
3.1.2. Market Challenges High Initial Cost of Digital Utility
3.1.3. Market Opportunities Advancements in Formulation Reduces emission of greenhouse gases
Chapter 4. Global Digital Utility MarketIndustry 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. Futuristic Approach to Porter’s 5 Force Model (2019-2029)
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.4. Investment Adoption Model
4.5. Analyst Recommendation & Conclusion
4.6. Top investment opportunity
4.7. Top winning strategies
Chapter 5. Risk Assessment: COVID-19 Impact
5.1. Assessment of the overall impact of COVID-19 on the industry
5.2. Pre COVID-19 and post COVID-19 Market scenario
Chapter 6. Global Digital Utility Market, by Technology
6.1. Market Snapshot
6.2. Global Digital Utility Market by Technology, Performance – Potential Analysis
6.3. Global Digital Utility Market Estimates & Forecasts by Technology 2019-2029 (USD Billion)
6.4. Digital Utility Market, Sub Segment Analysis
6.4.1. Hardware
6.4.2. Integrated Solutions
Chapter 7. Global Digital Utility Market, by Network
7.1. Market Snapshot
7.2. Global Digital Utility Market by Network, Performance – Potential Analysis
7.3. Global Digital Utility Market Estimates & Forecasts by Network 2019-2029 (USD Billion)
7.4. Digital Utility Market, Sub Segment Analysis
7.4.1. Generation
7.4.2. Transmission & Distribution
7.4.3. Retail
Chapter 8. Global Digital Utility Market, Regional Analysis
8.1. Digital Utility Market, Regional Market Snapshot
8.2. North America Digital Utility Market
8.2.1. U.S.Digital Utility Market Technologybreakdown estimates & forecasts, 2019-2029 Network breakdown estimates & forecasts, 2019-2029
8.2.2. CanadaDigital Utility Market
8.3. Europe Digital Utility Market Snapshot
8.3.1. U.K. Digital Utility Market
8.3.2. Germany Digital Utility Market
8.3.3. France Digital Utility Market
8.3.4. Spain Digital Utility Market
8.3.5. Italy Digital Utility Market
8.3.6. Rest of EuropeDigital Utility Market
8.4. Asia-PacificDigital Utility Market Snapshot
8.4.1. China Digital Utility Market
8.4.2. India Digital Utility Market
8.4.3. JapanDigital Utility Market
8.4.4. Australia Digital Utility Market
8.4.5. South Korea Digital Utility Market
8.4.6. Rest of Asia PacificDigital Utility Market
8.5. Latin America Digital Utility Market Snapshot
8.5.1. Brazil Digital Utility Market
8.5.2. MexicoDigital Utility Market
8.6. Rest of The World Digital Utility Market

Chapter 9. Competitive Intelligence
9.1. Top Market Strategies
9.2. Company Profiles
9.2.1. Microsoft Corporation Key Information Overview Financial (Subject to Data Availability) ProductSummary Recent Developments
9.2.2. Oracle Corporation
9.2.3. ABB Ltd.
9.2.4. Capgemini SE
9.2.5. General Electric Company
9.2.6. The International Business Machines Corporation (IBM) Corporation
9.2.7. Siemens AG
9.2.8. Infosys Ltd.
9.2.9. Singapore Power Limited
9.2.10. Wipro Ltd.
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. 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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