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Top Factor Driving Digital Utility Market Growth in 2025: Digital Utility Market Surges With The Rise Of Distributed And Renewable Power Generation Projects
Digital Utility Market Size
The digital utility market is projected to grow due to the increasing number of dispersed and green energy production projects. Dispersed generation involves the production of electricity through multiple sources, often renewable ones. The escalation in the number of these projects can be attributed to the ability of dispersed and green energy production to decrease the need for centralized power facilities, which contributes to environmental protection and reduces the environmental footprints of centralized generation. For example, Eurostat, a government agency based in Luxembourg, reported in June 2024 that in 2023, the supply of renewable energies had risen 4.4% from 2022, amounting to roughly 10.9 million terajoule (TJ). As such, this surge in dispersed and green energy production projects is stimulating the expansion of the digital utility market.
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What is the future CAGR of the digital utility market, and how will it impact industry expansion?
The size of the digital utility market has experienced a swift expansion in the past few years. The market value is projected to rise from $248.33 billion in 2024 to $273.84 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 10.3%. The notable growth during the historical period is a result of factors including the rise of renewable energy sources, tighter regulatory standards and adherence, decaying infrastructure, growing energy demand, escalation in data generation, and an increase in natural disasters.
In the coming years, the digital utility market is projected to witness swift expansion, reaching up to $470.9 billion by 2029 with a Compound Annual Growth Rate (CAGR) of 14.5%. This growth during the forecast period is influenced by rapid urbanization, heightened risk of cyber attacks, increased electric vehicle infrastructure, widespread use of cloud computing and the introduction of the 5G network. Key trends to watch during the forecast period are grid digitalization, the application of AI and machine learning, the integration of energy storage, solutions focused on the customer, and the move towards smart cities.
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What are the most significant trends transforming the digital utility market today?
Major firms in the digital utility industry are forming strategic alliances to enhance their product line and create groundbreaking solutions. For instance, in October 2024, a strategic partnership was forged between ELES (Elektro-Slovenija, d.o.o.), Slovenia's state-owned electricity transmission system operator, and Siemens Energy, aiming to accelerate digital progress in electricity grids. The mutual agreement involves the development of cutting-edge solutions, including augmented and virtual reality instruments, robotic inspections of substations, and sophisticated sensor monitoring systems. The central objective of this collaboration is to elevate the efficiency and sustainability of energy infrastructure, thereby aiding in carbon emission reduction efforts. Siemens Energy, a German energy technology firm, concentrates on innovative solutions across the entire energy value chain.
Which key market segments comprise the digital utility market and drive its revenue growth?
The digital utility market covered in this report is segmented -
1) By Deployment: On-Premise, Hybrid, Cloud
2) By Network: Generation, Transmission And Distribution, Retail
3) By Technology: Hardware, Integrated Solutions
4) By End-Use: Banking, Financial Services And Insurance (BFSI), Media And Communication Services, Manufacturing And Natural Resources, Aerospace And Defense, Transportation And Logistics, Government And Utilities, Other End-Users
Subsegments:
1) By On-Premise: Installed Software, On-Premise Infrastructure
2) By Hybrid: Combination Of On-Premise And Cloud Services, Integrated Systems
3) By Cloud: Public Cloud, Private Cloud, Multi-Cloud Solutions
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What regions are at the forefront of digital utility market expansion?
North America was the largest region in the global digital utility market in 2024. The regions covered in the digital utility market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the leading players fueling growth in the digital utility market?
Major companies operating in the digital utility market include Bosch.IO GmbH, Siemens AG, General Electric Company, accenture* plc, IBM Corporation, Cisco Systems Inc., Oracle Corporation, Schneider Electric SE, Honeywell International Inc., SAP SE, ABB Ltd., Capgemini SE, Eaton Corporation plc, Rockwell Automation Inc., Trimble Inc., Itron Inc., Landis+Gyr Group AG, Enel X North America Inc., Schweitzer Engineering Laboratories, Kalkitech Inc., Aclara Technologies LLC, Open Systems International Inc., OSIsoft LLC, Sensus USA Inc., C3.ai Inc., Trilliant Holdings Inc., Utilidata Inc., Echelon Corporation
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What Is Covered In The Digital Utility Global Market Report?
•Market Size Forecast: Examine the digital utility market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the digital utility market for a structured understanding.
•Key Players Overview: Analyze major players in the digital utility market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the digital utility market.
•Segment Contributions: Evaluate how different segments drive overall growth in the digital utility market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the digital utility market.
•Industry Challenges: Identify potential risks and obstacles affecting the digital utility market.
•Competitive Landscape: Review strategic developments in the digital utility market, including expansions, agreements, and new product launches.
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