Press release
Global Digital Power Utility Market Analysis 2025-2030: Growth Drivers, Challenges, And Opportunities
Digital Power Utility
How Big Is the Digital Power Utility Market Size Expected to Be by 2034?
The size of the digital power utility market has seen significant expansion in the last few years. The market, which is projected to escalate from $92.43 billion in 2024 to $110.98 billion in 2025, boasts a compound annual growth rate (CAGR) of 20.1%. Factors like the surge in interest in renewable energy projects and energy storage devices, the expansion of distribution and transmission networks, the escalating issues of global warming and depletion of natural resources, burgeoning environmental worries, and a growth in the number of renewable energy plants explain the growth observed in the historic period.
It is anticipated that the market size for digital power utilities will witness substantial growth in the upcoming years, expanding to a value of $230.16 billion in 2029 with a compound annual growth rate (CAGR) of 20.0%. This growth trajectory during the forecast period can be ascribed to several factors such as the rise in industrialization and urbanization, which has contributed to an increased demand for energy. Additionally, global digitalization trends, the increasing output and consumption of electricity, and a growing necessity for renewable and sustainable energy are key drivers. Notable trends throughout this period are expected to be the ongoing digital transformation of power plants globally, advances in technology, growth in the renewable energy sector, higher integration of renewables, and an increasing demand for energy sourced from renewables. These factors are propelling the growth of digital utility solutions.
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What Are the Emerging Segments Within the Digital Power Utility Market?
The digital power utility market covered in this report is segmented -
1) By Type: Hardware Service, Software Service
2) By Sector: Power Generation, Transmission And Distribution, Energy Storage, Energy Trading
3) By Organization Size: Large Enterprises, Small-sized Enterprises, Medium-sized Enterprises
Subsegments:
1) By Hardware Service: Smart Meters, Grid Management Equipment, Communication Infrastructure, Substation Automation Devices, Distributed Energy Resource (DER) Management Hardware
2) By Software Service: Energy Management Software, Advanced Metering Infrastructure (AMI) Software, Grid Analytics Software, Outage Management Software, Customer Engagement Software
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What Long-Term Drivers Are Shaping Digital Power Utility Market Trends?
The escalating demand for renewable energy is projected to propel the expansion of the digital power utility market in the future. Renewable energy, obtained from continually replenishing natural sources at a rate higher than consumption, is gaining traction due to increasing public consciousness regarding the adverse environmental and social effects of fossil fuels and a surging demand for greener, more sustainable energy alternatives. Digital power utility is employed in managing the inconsistent yields from renewable energy sources, optimizing energy storage, and ensuring supply-demand equilibrium in real time. For example, as per the European Commission, a governing body based in Belgium, the proportion of energy consumption in the EU derived from renewable sources increased from 21.9% in 2021 to 23.0% in 2022. Thus, the burgeoning demand for renewable energy fuels the expansion of the digital power utility market.
Who Are the Top Competitors in Key Digital Power Utility Market Segments?
Major companies operating in the digital power utility market report are Microsoft Corporation, Siemens AG, General Electric Company, accenture* PLC, The International Business Machines Corporation, Cisco Systems Inc., Oracle Corporation, Schneider Electric SE, Honeywell International Inc., SAP SE, ABB Ltd., Capgemini Ltd., Eaton Corporation plc, Cognizant, Infosys Ltd., Vestas Wind Systems A/S, Emerson Electric Co., Hitachi Energy Ltd., Wipro Ltd., Siemens Gamesa Renewable Energy S.A., Rockwell Automation Inc., Nordex SE, PTC Inc., National Instruments Corporation, Mitsubishi Power Ltd., Toshiba Energy Systems & Solutions Corporation
What Digital Power Utility Market Trends Are Gaining Traction Across Different Segments?
Leading businesses in the digital power utility market, such as GE Digital, are crafting innovative solutions including gridos to revolutionize and evolve electricity grids for the upcoming years. This platform combines energy information, network modeling, and analytics powered by AI and machine learning to enable smart applications. For example, in February 2023, GE Digital, an American software industry firm, introduced gridos. This platform features a 'zero trust' grid security model to defend resources from both internal and external threats. Collaborating partners for the project encompass cloud provider Amazon Web Services (AWS) and system integrators like accenture* and Infosys. The GridOS platform and suite of applications bolster GE Digital's initiatives such as grid operations portfolio mapping and design, advanced energy management system (aems) for regulating transmission and market management operations, advanced distribution management system (ADMS) for distribution network operations, and the distributed energy resource management system (derms) for forecasting and management.
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Which Regions Are Becoming Hubs for Digital Power Utility Market Innovation?
North America was the largest region in the digital power utility market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the digital power utility market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Digital Power Utility Market?
2. What is the CAGR expected in the Digital Power Utility Market?
3. What Are the Key Innovations Transforming the Digital Power Utility Industry?
4. Which Region Is Leading the Digital Power Utility Market?
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