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Digital Utility Market Surges With The Rise Of Distributed And Renewable Power Generation Projects Driving Market Acceleration in the Digital Utility Industry, 2025
Digital Utility
How Large Will the Digital Utility Market Size By 2025?
The size of the digital utility market has seen robust growth over the recent years. An escalation from $248.33 billion in 2024 to $272.19 billion in 2025 is projected, representing a compound annual growth rate (CAGR) of 9.6%. The historic period's growth can be ascribed to factors such as the rise in renewable energy resources, rigorous regulations and compliance requirements, an aging infrastructure, heightened energy demand, data generation growth, and an increase in natural disasters.
How Big Is the Digital Utility Market Size Expected to Grow by 2029?
The market size for digital utilities is forecasted to undergo swift expansion in the coming years, with an expected valuation of $461.47 billion in 2029 and a compound annual growth rate (CAGR) of 14.1%. The projected growth during this period can be credited to fast-paced urbanization, escalating concerns over cyber threats, the proliferation of electric vehicle assets, wider acceptance of cloud-based computing, and the application of 5G technology. Key trends anticipated during this forecast period are grid digitization, the deployment of AI and machine learning, the integration of energy storage, customer-oriented strategies, and progress towards smart cities.
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Which Key Market Drivers Powering Digital Utility Market Expansion and Growth?
The rise in the number of distributed and renewable power generation projects is anticipated to propel the growth of the digital utility market within the forecast period. Distributed generation is defined as the production of electricity from multiple sources, often from renewable energy sources. The growth in distributed projects is due to the fact that renewable and distributed power generation lower the necessity for electricity to be produced at centralized power facilities, lessening environmental impacts and safeguarding the environment. The substantial environmental impact of distributed and renewable energy generation projects is encouraging an upsurge in these projects. For example, according to an article released by Eurostat, a government agency based in Luxembourg, in June 2024, the production of renewable energies increased by 4.4% in 2023 compared to 2022, amounting to roughly 10.9 million terajoule (TJ). Hence, the rise in the number of distributed and renewable power generation projects is accelerating the growth of the digital utility market.
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Which Fast-Growing Trends Are Poised to Disrupt the Digital Utility Market?
Prominent companies in the digital utility market are forging strategic alliances to enhance their offerings and create innovative solutions. An example can be seen in October 2024 when ELES, or Elektro-Slovenija, d.o.o., the government-run electricity transmission system operator in Slovenia, partnered with Siemens Energy to accelerate digital progress in electricity grids. The partnership, underpinned by a memorandum of understanding, aims to innovate in areas such as augmented and virtual reality tools, robotic substation inspections, and sophisticated sensor monitoring systems. The intention of this joint venture is to increase the effectiveness and sustainability of energy infrastructure while supporting initiatives to cut down carbon emissions. Siemens Energy is an energy technology firm based in Germany, committed to delivering innovative solutions across the entire energy value chain.
What Are the Emerging Segments in the Digital Utility Market?
The digital utilitymarket 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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Who Are the Global Leaders 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
Which are the Top Profitable Regional Markets for the Digital Utility Industry?
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.
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