Press release
Digital Power Utility Market is anticipated to grow up to USD 282.4 Billion by 2032
New York, Global Digital Power Utility Market report from Global Insight Services is the single authoritative source of intelligence on Digital Power Utility Market . The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters' and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
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A digital power utility is a power utility that uses digital technology to manage and operate its infrastructure. This includes the use of digital devices and systems to monitor and control the generation, distribution, and consumption of electricity. The digital power utility is a relatively new concept, and its adoption is still in its early stages. However, its proponents believe that it has the potential to revolutionize the way power utilities operate. By leveraging digital technology, a digital power utility can improve efficiency, optimize operations, and better manage resources.
Major Players in the Global Digital Power Utility Market
The key players in the market are Microsoft Corporation, Siemens AG, General Electric, IBM, Oracle Corporation, SAP SE, Schneider Electric SE, ABB LTD, Eaton Corporation, and Capgemini, among others.
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Global Digital Power Utility Market Segmentation
By Technology
Hardware
Integrated Solutions
By Network
Power Generation
Transmission and Distribution (T&D)
Energy Storage
Energy Trading
Others
By Region
North America
The U.S.
Canada
Mexico
Europe
UK
Germany
France
Spain
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
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Market Trends and Drivers
Growing number of renewable power generation projects and energy efficiency mandates is one of the key trends stoking market growth. Stringent regulatory policies are further stimulating the growth of the market. Rising need for green energy and rapid digitalization are fueling the demand for digital utility solutions. Increasing penetration of digital technologies and spiraling demand for domestic electricity in countries such as China and India are anticipated to provide a fillip to the market. Moreover, increasing number of renewable energy plants and growing environmental concerns are supplementing the growth of the market. Additionally, rising number of government initiatives supporting digital transformation is projected to support the growth of the market in the country.
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