Press release
Digital Utility Market 2018 Global Key Players: Accenture PLC, Microsoft, Cognizant Technology Solutions, Oracle, SAP SE, Siemens AG, General Electric Company, Capgemini SA
Digital Utility Market Global Market- Overview
With advancement of technology, the utility service providers are also transforming rapidly. However, it is estimated that by 2019, 75 percent of utilities will be engaged a risk based cyber-security which will signify a transformation from compliance approach to security approach. Additionally, by 2019, 50 percent of utilities service providers are likely to invest in capital expenditure on operational technology. With the integration of internet of things is expected to boost the distributed energy resources, asset operations and field services. Implementation of smart meters to provide two way communication is also increasing in Europe and Asia Pacific region. In order to increase the efficiency during routing, sampling, and interpreting phases of supply chain water and waste utility providers are laying their focus towards engaging the geospatial information system. However, regulatory policies in terms of tariff rates of utility could be one of the challenging factors to the digital utility market over the forecast period. Furthermore, high installation cost for setting the digital utility for residential sector could hinder the growth of the market over the forecast period.
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Key Players
The prominent players in the global Digital Utility Market are – Capgemini SA (France), International Business Machine Corporation (U.S.), Accenture PLC (Ireland), Microsoft Corporation (U.S.), Cognizant Technology Solutions Corporation (U.S.), Cisco Systems Inc. (U.S.), Oracle Corporation (U.S.), SAP SE (Germany), Siemens AG (Germany), General Electric Company (U.S.), and ABB Ltd.(Switzerland), among others.
Segments:
The global digital utility market has been segmented on the basis of component, deployment type, end-users, and region.
Global Digital Utility Market by Component:
• Hardware
• Software
• Services
- On cloud services
- On premises services
Global Digital Utility Market by Deployment Type:
• On premises
• Cloud
• Hybrid
Global Digital Utility Market by End-Users:
• Residential
• Commercial
• Retail
• Others
Global Digital Utility Market by Regions:
• North America
• Europe
• APAC
• Rest Of The World
Digital Utility Market Global Market - Regional Analysis
The regional analysis of digital utility market is being studied for region such as Asia pacific, North America, Europe and Rest of the World. North America is one of the leading region across the world in terms of market share in digital utility market. The integrated digital utilities transformation helps to reinvent by leveraging mobility, analytics, cloud technologies and others in the North America region.The digital utility market in Europe region is expected to witness rapid growth in the forthcoming period. Whereas, Asia-Pacific countries like China, Japan and India is an emerging market for digital utility market and expected to be the highest CAGR in the coming years.
Industry News
October 2017, New York Power Authority (NYPA) and General Electric had come aligned to develop world first digital utility. By this new partnership, the NYPA aims is to implement digital solutions to enhance their entire electricity value network, from production of electricity to consumption, for consistency, affordability, and to emit lowest form of carbon foot-print .
June 2017, Vattenfall to had partnered with Accenture PLC. Vattenfall, one of the European leading electricity and heat retailers and producers, had partnered with Accenture PLC into a five-year agreement to digitally transform their human resources (HR) function, which include the engagement of a new platform and offers of end-to-end HR services.
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Intended Audience
• Digital utility manufacturing companies
• Product sales and distribution companies
• Digital utility providers
• Electric utilities
• Electrical infrastructure providers
• IT vendors
• Research and development companies
• Market research and consulting firms
• Solution providers
• Technology standards organizations
• Technology investors
• System Integrators
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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
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