Press release
Digital Utility Market 2018 Global Leaders Analysis: Cisco Systems, Oracle, Capgemini SA, Accenture PLC, SAP SE, Siemens AG, General Electric Company, ABB
Market Scenario:
The major regions in the continents like United States, China, Japan, Germany has the major contribution in the digital utility market. The companies like International Business Machine Corporation (U.S.), Oracle Corporation (U.S.), SAP SE (Germany), Siemens AG (Germany), General Electric Company (U.S.), are largest investors for the development in digital utilities transformation. In 2017, SAP SE (Germany) has joined African Utility week that are mainly concentrating on importance of digital utility and its advantage in coming years. It is focusing on advanced technology such as big data which can be widely used by the organizations for the improvement of performance of utilities Infrastructure, prolong use of assets, & maximize energy production and others.
The digital utilities is estimated to grow in the forecast years due to its numerous features that include renewable, distributed generation, and smart grids that are further required by new business models and regulatory frameworks. These utilities are used to influence the smart energy generation and management at the minimum cost. The growing demand of renewable power generations and its distributions, regulatory requirements for electric utilities and energy efficiency demanding carbon emission reductions, are driving the market growth to the large extent.
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The global digital utilities are bifurcated into component, deployment type, end-users, and region. The component includes hardware, software, services and other. The deployment type includes on premises, cloud, and hybrid. The end-users includes residential, commercial, retail and others. The region includes North America, Europe, Asia Pacific and rest of the world.
The global Digital Utility Market is expected to grow at USD ~253 Billion by 2023, at ~12% of CAGR between 2017 and 2023.
Digital Utility Market Global Market - Segmentation
• Segmentation by Component: Hardware, Software and Services.
• Segmentation by Deployment: On-Premise, hybrid, and On-cloud.
• Segmentation by Services: Professional services, and Managed Services.
• Segmentation by End-user: Residential, Commercial, and Others.
• Segmentation by Region: North America, Europe, Asia Pacific, and the Rest of the World.
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.
Digital Utility Market Global Market - Regional Analysis
North America is presumed to dominate the global digital utility market with the largest market share in the region. The U.S. and Canada are the leading countries in the region. The growth is attributed to presence of giant companies such Oracle Corporation, IBM Corporation and others, which providing constant innovative solutions in the region. Europe, again, is expected to have a substantial growth over the forecast period. Germany and France are the leading countries in the region. This is attributed to increase in services rate of the cloud deployment of the digital utility. Furthermore, Asia Pacific is anticipated to be the fastest growing region is over the forecast period. China, India, and Japan are the leading countries in the region. This is due to rapid development of economy and increased investment in the government initiatives such as smart city projects.
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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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