Press release
Digital Utility Market 2023: Industry Growth, Revenue, and Demand Scope by Top Key Players and Future Prospects by 2032
Digital Utility Market
The global digital utility market size is expected to grow from $203.74 billion in 2022 to $229.40 billion in 2023 at a compound annual growth rate (CAGR) of 12.59%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The digital utility market is expected to reach $374.91 billion in 2027 at a compound annual growth rate (CAGR) of 13.07%.
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Major players in the digital utility market are ABB Ltd., General Electric Company, Siemens AG, Capgemini SE, SAP SE, IBM, Microsoft Corporation, Oracle Corporation, Wipro Ltd., Infosys Ltd., Cognizant Technology Solutions Corporation, International Business Machines Corporation, Cisco Systems Inc., and Eaton Corporation PLC.
Technological advancements are a key trend gaining popularity in the Digital Utility market. Major companies operating in the market are developing advanced technologies and software to sustain their position in the market. For instance, in February 2022, Radisys Corporation, a US-based company that provides open telecom solutions, launched the Connect RAN Digital Utility software stack, which provides an exhaustive list of 5G RAN technology. Connect radio access network (RAN) software for Digital Utility includes unique features such as technologies for a wide range of IoT use cases, metering and asset tracking, ultra-low latency, time-sensitive industrial deployments, video surveillance, and wearable deployments. With less initial CAPEX investment, Radisys' Connect RAN Digital Utility software provides a quick time-to-market for new use cases.
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The Digital Utility market is segmented -
1) By Component: Solution, Hardware, Software and Platform, Services
2) By Network Type: 5G Standalone (SA), 5G Non-Standalone (NSA)
3) By Enterprise Size: Large Enterprises, Small and Medium Enterprises
4) By End User: Manufacturing, Healthcare, Energy and Utilities, Automotive and Transportation, Supply Chain and Logistics, Government and Public Safety, Agriculture, Other End Users
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Digital Utility market.
The Business Research Company's "Global Digital Utility Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Digital Utility Market Include:
1. Executive Summary
2. Digital Utility Market Characteristics
3. Digital Utility Market Trends And Strategies
4. Digital Utility Market - Macro Economic Scenario
5. Digital Utility Market Size And Growth
.....
26. Africa Digital Utility Market
27. Digital Utility Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Digital Utility Market
29. Digital Utility Market Future Outlook and Potential Analysis
30. Appendix
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