Press release
Digital Utility Market 2019 Global Leaders Analysis: Oracle, SAP SE, General Electric Company, Capgemini SA, Accenture PLC, Cisco Systems, Siemens AG, ABB Ltd
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.
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.
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.
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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