2025 Digital Power Utility Industry Trends Report: Long-Term Outlook Through 2034

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How Large Will the Digital Power Utility Market Size By 2025?
In recent times, the size of the digital power utility market has expanded at an impressive rate. Projections show that it is set to rise from its valuation of $92.43 billion in 2024 to an astounding $110.98 billion in 2025, representing a compound annual growth rate (CAGR) of 20.1%. This growth trend in the preceding years can be linked to several influencing factors. These include an enhanced emphasis on renewable energy initiatives and the proliferation of energy storage systems, expansion in distribution and transmission networks, as well as mounting concerns over global warming and the deterioration of natural resources. Growing environmental consciousness and a rising count of renewable energy facilities are also key growth drivers.

How Big Is the Digital Power Utility Market Size Expected to Grow by 2029?
In the coming years, the digital power utility market is projected to experience significant expansion, reaching $230.16 billion in 2029 with a compound annual growth rate (CAGR) of 20.0%. This growth throughout the predicted period is driven by factors such as the increasing industrialization and urbanization that results in higher energy demand, rapid digitalization on a global scale, boosted electricity production and energy consumption, as well as the escalating demand for renewable and green energy. The forecasted period will witness trends like power plant digitalization globally, technological progress, growth in the renewable energy sector and its integration, augmented demand for energy from renewable sources, and the swift digitalization that is heightening the need for digital utility solutions.

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Which Key Market Drivers Powering Digital Power Utility Market Expansion and Growth?
The growing demand for renewable energy is forecasted to drive the expansion of the digital power utility market. Renewable energy, sourced from natural elements that regenerate quicker than consumption rates, is gaining public traction due to the awareness of the adverse environmental and social effects of fossil fuels and the rising pressure for greener, sustainable energy alternatives. The application of digital power utility in renewable energy enables efficient handling of renewables' variable output, enhances energy storage, and maintains the balance of supply and demand in real time. For example, the European Commission, a governing body based in Belgium, reported in 2022 that renewable energy made up 23.0% of the EU's total energy consumption, an increase from 21.9% in 2021. So, the escalating demand for renewable energy is fostering the growth of the digital power utility market.

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Which Fast-Growing Trends Are Poised to Disrupt the Digital Power Utility Market?
Prominent businesses in the digital power utility market are introducing cutting-edge solutions such as gridos to upgrade and digitalize electricity grids to meet future demands. This innovative platform merges energy data, network design, and analytics powered by AI and machine learning to support a range of smart applications. For example, in February 2023, GE Digital, an American software industry giant, unveiled gridos. This platform offers a 'zero trust' grid defense model to shield resources from internal and external dangers. The collaboration network involves amazon web services (AWS) for cloud services and accenture* and Infosys among others for system integration. The gridos platform and its associated applications bolster GE Digital's grid functioning portfolio mapping and planning, advanced energy management system (aems) for transmission and market operations, advanced distribution management system (ADMS) for distribution network functions, and the distributed energy resource management system (derms) for prediction and management.

What Are the Emerging Segments in 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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Who Are the Global Leaders in the Digital Power Utility Market?
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

Which are the Top Profitable Regional Markets for the Digital Power Utility Industry?
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.

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