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Digital Utility Market worth $208.15 billion by 2030, growing at a CAGR of 8.86% - Exclusive Report by 360iResearch
Digital Utility Market | 360iResearch
The Global Digital Utility Market to grow from USD 114.83 billion in 2023 to USD 208.15 billion by 2030, at a CAGR of 8.86%.
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The digital utility market refers to the integration of digital technologies into the infrastructure and operations of utility companies to increase operational efficiency, improve customer engagement, and effectively manage utility networks. The rising need for clean and reliable energy and regulatory pressures to modernize the aging utility infrastructure further drive the demand for digital utility services. The digital utility sector is experiencing transformative growth, driven by the integration of digital solutions across electric, water, and gas utilities. Furthermore, several factors, including government policies supporting smart grids, advancements in IoT, AI, and analytical tools, pressing environmental issues, and the escalating global demand for energy, are propelling the market growth. However, the industry faces challenges such as cybersecurity threats, the burden of high initial investments, varying regulatory frameworks, and the complex melding of new and old systems. Market players need to focus on developing scalable cybersecurity solutions tailored for utility networks, exploring blockchain applications for secure and transparent energy transactions, and researching energy storage technologies to remain competitive in the highly developing market landscape.
Market Segmentation & Coverage:
This research report categorizes the Digital Utility Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Technology, market is studied across Hardware and Integrated Solutions. The Integrated Solutions is further studied across Cloud & Software and Services. The Hardware is projected to witness significant market share during forecast period.
Based on Network, market is studied across Generation, Retail, and Transmission & Distribution. The Transmission & Distribution is projected to witness significant market share during forecast period.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Americas commanded largest market share of 38.41% in 2023, followed by Europe, Middle East & Africa.
FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the Digital Utility Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the Digital Utility Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the Digital Utility Market, highlighting leading vendors and their innovative profiles. These include ABB Ltd., Capgemini Services SAS, Cisco Systems Inc., Cognizant Technology Solutions Corporation, Eaton Corporation PLC, General Electric Company, International Business Machine Corporation, Microsoft Corporation, Oracle Corporation, SAP SE, Schneider Electric SE, and Siemens AG.
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Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Digital Utility Market, by Technology
7. Digital Utility Market, by Network
8. Americas Digital Utility Market
9. Asia-Pacific Digital Utility Market
10. Europe, Middle East & Africa Digital Utility Market
11. Competitive Landscape
12. Competitive Portfolio
13. Appendix
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Digital Utility Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Digital Utility Market?
3. What is the competitive strategic window for opportunities in the Digital Utility Market?
4. What are the technology trends and regulatory frameworks in the Digital Utility Market?
5. What is the market share of the leading vendors in the Digital Utility Market?
6. What modes and strategic moves are considered suitable for entering the Digital Utility Market?
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About 360iResearch
360iResearch is a market research and business consulting company headquartered in India, with clients and focus markets spanning the globe.
We are a dynamic, nimble company that believes in carving ambitious, purposeful goals and achieving them with the backing of our greatest asset - our people.
Quick on our feet, we have our ear to the ground when it comes to market intelligence and volatility. Our market intelligence is diligent, real-time and tailored to your needs, and arms you with all the insight that empowers strategic decision-making.
Our clientele encompasses about 80% of the Fortune Global 500, and leading consulting and research companies and academic institutions that rely on our expertise in compiling data in niche markets. Our meta-insights are intelligent, impactful and infinite, and translate into actionable data that support your quest for enhanced profitability, tapping into niche markets, and exploring new revenue opportunities.
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