Report: 

Digital Utility Market

Digital Utility Market

by Digiavenir

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Report: Digital Utility Market

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Report: Digital Utility Market

Digital Utility Market

Global Digital Utility Market

TITLE
Category
Report Type
PAGES
1-User PDF
Enterprise PDF
Continents
Author's Name
Global Digital Utility Market Research Report – Forecast till 2030
IT
CRR
128
USD 4450
USD 6450
Global
Digiavenir

Global Digital Utility Market Research Report: Information By Component

(Hardware, Software, and Services), By Deployment Type (On-Premises, Cloud,
and Hybrid), By End-Users (Residential, Commercial, and Retail), And By Region
(North America, Europe, Asia-Pacific, And Rest Of The World) –Market Forecast
Till 2030.

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 Report: Digital Utility Market

Digital Utility Market Overview:

1
Global Digital Utility Market Size was valued at USD 210.6 billion in 2022. The
Digital Utility market is projected to grow from USD 235.872 Billion in 2023 to
USD 465.569 billion by 2030, exhibiting a compound annual growth rate (CAGR)
of 12.00% during the forecast period (2023 - 2030). The growing demand for
green energy, rapid digitalization and rising domestic electricity demand in
2
countries are the key market drivers enhancing market growth.

Source: Secondary Research, Primary Research, MRFR Database and Analyst

Review
Digital Utility Market Trends
The growing demand for green energy, combined with rapid digitalization, is
driving market growth.
The growing demand for green energy and rapid digitalization drive the demand
for digital utility solutions. Increased digital technology penetration and rising
domestic electricity demand in countries such as China and India are expected
to boost the market. During the forecast period, the market in the United States
is expected to have the largest market share in the North American region. The
growing number of renewable energy plants and environmental concerns
supplement the market growth. Furthermore, the growing number of
government initiatives supporting digital transformation is expected to support
the country's market growth. Digital utility solutions help power generation
plants manage operations more efficiently and reduce greenhouse gas

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 Report: Digital Utility Market

emissions. Over the forecast period, strict regulatory norms are also expected
1
to strengthen the market.
An increase in the amount of data collected and exchanged, combined with an
increase in the number of connected devices, will likely give the market a huge
boost. Furthermore, technological factors such as predictive maintenance,
information exchange, and operational control solutions are critical to the
2
market's growth. Everything is now more accessible and faster thanks to
3
digitalization. The Industrial Internet of Things (IIoT) has digitalized various
industrial processes in the energy and utility sectors, including power
generation, distribution, and transmission. The integration of digital and
physical infrastructure is transforming industry processes. The digital
transformation of utilities has increased the efficiency of power generation,
transmission, and distribution. Digital utility has expanded capabilities by
making physical systems more productive and autonomous and providing more
energy usage options. Because of the growing concern about customer
satisfaction in the utility sector, digital transformation occurs across the entire
energy value chain. The utility industry rapidly embraces cutting-edge digital
technologies such as blockchain and artificial intelligence. Thus, driving the
Digital Utility market revenue.
Digital Utility Market Segment Insights:
Digital Utility Component Insights
Based on components, the global digital utility market segmentation includes
hardware, software, and services. The hardware segment dominated the
market, and Hardware technological advancements and the widespread use of
smart meters, transformers, and other intelligent equipment are contributing
to the segment's growth. Organizations are interested in smart grid solutions
because they enable predictive maintenance, real-time analytics, and effective

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 Report: Digital Utility Market

asset management, which has recently enhanced the Digital Utility market
1
CAGR globally.

4
Figure 1: Global Digital Utility Market by Components, 2022 & 2030 (USD billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst
Review
2
Digital Utility Deployment Type Insights
3
Based on deployment type, the global digital utility market segmentation
5
includes on-premises, cloud, and hybrid. The cloud segment held the majority
share in 2022 concerning the Global Digital Utility market revenue. Because of
the low cost and ease of access to cloud-based IT Asset Management Software
Market solutions. Cloud-based IT Asset Management Software Market
solutions are increasingly used in banking, financial services, insurance (BFSI),
healthcare, retail, government, IT and telecommunication, manufacturing, etc.
Cloud-based IT Asset Management Software Market solutions enable the
migration of data, applications, and all critical business elements from on-
premise data centers to the cloud or from one cloud to another.
Digital Utility End-Users Insights
Based on the end-users, the global digital utility market data includes
residential, commercial, and retail. The retail category generated the most
income Retailers can use data on customer behavior, preferences, and
purchase history to understand their customers' needs better and tailor their
offerings accordingly. This can result in more personalized marketing, accurate
product recommendations, and increased customer loyalty. Retailers can
optimize their inventory levels and reduce waste by using data on sales trends,
6
stock levels, and supplier lead times. This can lead to cost savings and

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 Report: Digital Utility Market

increased profitability implants for Digital utilities, positively impacting market

1
growth.

74
Digital Utility Regional Insights
By Region, the study provides market insights into North America, Europe,
Asia-Pacific and the Rest of the World. The Europe Digital Utility market will
2
dominate this market owing to the increasing number of renewable power
3
plants and rising investments in electrical infrastructure. Furthermore, growing
5
digitalization and the emergence of several connected devices are expected to
drive market growth over the forecast period.
8
Further, the major countries studied in the market report are The U.S., Canada,
German, France, the UK, Italy, Spain, China, Japan, India, Australia, South
Korea, and Brazil.
9
Figure 2: GLOBAL DIGITAL UTILITY SHARE BY REGION 2022 (%)

Source: Secondary Research, Primary Research, MRFR Database and Analyst

Review
Asia Pacific Digital Utility market accounts for the second-largest market
share. Rising domestic electricity demand and shifting regional regulatory
norms are expected to drive demand for digital utility solutions. Furthermore,
rising infrastructure development activities and rising energy demand in APAC
are assisting the regional market is growing. Further, the India Digital Utility
market held the largest market share, and the China Digital Utility market was
the fastest-growing market in the Asia Pacific region.
The North America Digital Utility Market is expected to grow at the fastest
6
CAGR from 2023 to 2030. The growing number of renewable power plants being
built to meet the needs of the world's growing population is propelling the

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 Report: Digital Utility Market

digital utility market forward. Changing utility regulations and government

1
policies drive green energy penetration in developed and developing
economies. Moreover, the US Digital Utility market held the largest market
74
share, and the Canada Digital Utility market was the fastest-growing market in
the North American region.

3
Digital Utility Key Market Players & Competitive Insights
5
Leading market players are investing heavily in research and development to
expand their product lines, which will help the Digital Utility market grow even
108
more. Market participants are also undertaking various strategic activities to
expand their Global footprint, with important market developments including
new product launches, contractual agreements, mergers and acquisitions,
9
higher investments, and collaboration with other organizations. To expand and
survive in a more competitive and rising market climate, the Digital Utility
industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business
tactics manufacturers use in the Global Digital Utility industry to benefit clients
and increase the market sector. The Digital Utility industry has recently offered
some of the most significant medical advantages. Major players in the Digital
Utility market, including Capgemini SA (France), International Business
Machine Corporation (US), Accenture PLC (Ireland), Microsoft Corporation (US),
Cognizant Technology Solutions, Corporation (US), Cisco Systems Inc. (US),
Oracle Corporation (US), SAP SE (Germany), Siemens AG (Germany), General
11
Electric Company (US), ABB Ltd. (Switzerland) and others, are attempting to
6
increase market demand by investing in research and development operations.

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 Report: Digital Utility Market

Capgemini SA (France) Capgemini is the strategic partner who will use

1
technology to help you ask tough questions and find the right answers. We use
diverse skills to address business needs in four areas: strategy and
74
transformation, applications and technology, engineering, and operations.
Providing strategy, innovation, and transformation consulting by leveraging
technology, data science, and creative design expertise. We concentrate on
2
assisting in creating value in three key areas: customer experience, intelligent
3
industry, and enterprise management. In doing so, we assist our clients in
5
adopting key technologies such as cloud, data, and artificial intelligence, as
well as working to improve their cybersecurity and environmental impact.
108
Thanks to our deep, sector-specific expertise, we can develop solutions aligned
with industry standards.
International Business Machine Corporation has collaborated to create
9
TradeLens, a blockchain shipping solution. The solution aims to promote secure
and efficient global trade by incorporating blockchain technology into the
supply chain. Oracle Corporation launched the Oracle blockchain application
cloud to assist customers in providing agility and increasing trust in
transactions across their businesses. The new suite uses SaaS to improve
transparency and traceability across the supply chain. International Business
Machine Corporation Corporation collaborated on supply chain solutions with
Ford Motor Company, RCS Global, LG Chem Ltd, and Huayou Cobalt Corporation
Ltd. This would enable the companies to validate and track a variety of minerals
used in consumer goods.
Key Companies in the Digital Utility market include
11
Capgemini SA (France)
6
International Business Machine
Corporation (US)

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 Report: Digital Utility Market

Accenture PLC (Ireland)

1
Microsoft Corporation (US)
Cognizant Technology Solutions
74
Corporation (US)
Cisco Systems Inc. (US)
Oracle Corporation (US)
2
SAP SE (Germany)
3
Siemens AG (Germany)
5
General Electric Company (US)
ABB Ltd. (Switzerland)
108
Digital Utility Industry Developments
August 2021: Wipro Limited, an Indian multinational corporation, has entered
into a multi-year global strategic IT and digital agreement with National Grid, a
9
British multinational electricity and gas utility provider, to accelerate its digital
innovation journey.
September 2022: General Electric, an American multinational corporation, has
signed a three-year agreement with Enel green power to provide centralized
data collection, remote monitoring services, on-site sensor assessment, and
predictive analytics solutions to advance its operation and maintenance
service.
Digital Utility Report Scope
Report Attribute/Metric
Details
Market Size 2022
11
USD 210.6 billion
6
Market Size 2023
USD 235.872 billion

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 Report: Digital Utility Market

Market Size 2030

1
USD 465.569 billion
Compound Annual Growth Rate (CAGR)
74
12.00% (2023-2030)
Base Year
2022
2
Market Forecast Period
3
2023-2030
5
Historical Data
2019- 2021
108
12
Market Forecast Units
Value (USD Billion)
Report Coverage
9
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Segments Covered
Component, Deployment Type, End-Users and Region
Geographies Covered
13
North America, Europe, Asia Pacific, and the Rest of the World
Countries Covered
The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India,
Australia, South Korea, and Brazil
Key Companies Profiled
Capgemini SA (France), International Business Machine Corporation (US),
Accenture PLC (Ireland), Microsoft Corporation (US), Cognizant Technology
11
Solutions, Corporation (US), Cisco Systems Inc. (US), Oracle Corporation (US),
6
SAP SE (Germany), Siemens AG (Germany), General Electric Company (US), ABB
Ltd. (Switzerland)

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 Report: Digital Utility Market

Key Market Opportunities

1
Rising domestic electricity demand in countries
Key Market Dynamics
74
The growing demand for green energy, combined with rapid digitalization

2
Digital Utility Market Segmentation:
3
Digital Utility Component Outlook
5
Hardware
Software
108
12
Services
Digital Utility Deployment Type Outlook
On-Premises
9
Cloud
Hybrid
Digital Utility End-Users Outlook
Residential
13
Commercial
Retail
Digital Utility Regional Outlook
North America
US
Canada
Europe
11
Germany
6
France
UK

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 Report: Digital Utility Market

Italy
1
Spain
Rest of Europe
74
Asia-Pacific
China
Japan
2
India
3
Australia
5
South Korea
Australia
108
12
Rest of Asia-Pacific
Rest of the World
Middle East
9
Africa
Latin America

Frequently Asked Questions (FAQ):

13
How much is the digital utility market?
14
The global digital utility market size was valued at USD 210.6 Billion in 2022.
15
What is the growth rate of the digital utility market?
The global market is projected to grow at a CAGR of 12.00% during the forecast
period, 2023-2030.
Which region held the largest digital utility market share?
Europe had the largest share of the global market
11
Who are the key players in the digital utility market?
6
The key players in the market are Capgemini SA (France), International
Business Machine Corporation (US), Accenture PLC (Ireland), Microsoft

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 Report: Digital Utility Market

Corporation (US), Cognizant Technology Solutions, Corporation (US), Cisco

1
Systems Inc. (US), Oracle Corporation (US), SAP SE (Germany), Siemens AG
(Germany), General Electric Company (US), ABB Ltd. (Switzerland).
74
Which component led the digital utility market?
The hardware category dominated the market in 2022.
Which deployment type had the largest digital utility market share?
2
The cloud had the largest share of the global market.
3

108
12

13

14

15

11

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 Report: Digital Utility Market

1. Global Digital Utility Market Size was Digital Utility Market Size | Global Originality
1 valued at USD Industry Report, 2020-2025
https://www.grandviewresearch.c
om/industry-analysis/digital-
utility-market
74

2. are the key market drivers enhancing Embedded Technology Market Originality
market growth. Source: Secondary Report- Global Forecast 2030
Research, Primary Research, MRFR https://www.marketresearchfutur
Database and Analyst Review e.com/reports/embedded-
2
technology-market-1041
3
3. The Industrial Internet of Things (IIoT) Digital Utility Market Size | Global Originality
5
has digitalized various industrial Industry Report, 2020-2025
processes https://www.grandviewresearch.c
om/industry-analysis/digital-
108
12 utility-market

4. 2022 & 2030 (USD billion)

Source: Embedded Technology Market
Secondary Research, Primary
Research, MRFR Database and Analyst
9 Review
Originality
Report- Global Forecast 2030
https://www.marketresearchfutur
e.com/reports/embedded-
technology-market-1041

5. The cloud segment held the majority Embedded Technology Market Originality
share in 2022 Report- Global Forecast 2030
https://www.marketresearchfutur
e.com/reports/embedded-
13 technology-market-1041
14
6. This can lead to cost savings and The impact of digital Originality
15 increased transformation on traditional
business models
https://www.linkedin.com/pulse/i
mpact-digital-transformation-
traditional-business-models

7. Regional Insights By Region, the study Embedded Technology Market Originality

provides market insights into North Report- Global Forecast 2030
America, Europe, Asia-Pacific and the https://www.marketresearchfutur
11
Rest of the World. e.com/reports/embedded-
6 technology-market-1041

8. Further, the major countries studied in Embedded Technology Market Originality

the market report are The U.S., Canada, Report- Global Forecast 2030

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 Report: Digital Utility Market

https://www.marketresearchfutur
e.com/reports/embedded-
1 technology-market-1041

9. SHARE BY REGION 2022 (%)

Source: Embedded Technology Market Originality
74 Secondary Research, Primary Report- Global Forecast 2030
Research, MRFR Database and Analyst https://www.marketresearchfutur
Review e.com/reports/embedded-
technology-market-1041

210. Market participants are also Embedded Technology Market Originality

undertaking various strategic activities Report- Global Forecast 2030
3
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5 e.com/reports/embedded-
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11. and others, are attempting to increase Embedded Technology Market Originality
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market demand by Report- Global Forecast 2030
https://www.marketresearchfutur
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9
12. Market Forecast Units
Value (USD Global Watch Market Overview: - Originality
Billion)
Report Coverage
Revenue Market Research Future
Forecast, Market Competitive https://www.marketresearchfutur
Landscape, Growth Factors, and Trends e.com/reports/watch-market-
Segments Covered 8027

1313. North America, Europe, Asia Pacific, United States : NGOs And Originality
and the Rest of the World Charitable Organizations highlight
14 the Prominent and Striking
Opportunities Scenario from
15
2019-2026

14. The global digital utility market size Digital Utility Market Size | Global Originality
was valued at USD Industry Report, 2020-2025
https://www.grandviewresearch.c
om/industry-analysis/digital-
utility-market

1115. market?
The global market is projected Embedded Technology Market Originality
to grow at a CAGR of Report- Global Forecast 2030
6
https://www.marketresearchfutur
e.com/reports/embedded-
technology-market-1041

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