Digital Power Utility Market Overview, Analysis And Demand By 2034

For those planning market entry or expansion, this report lays out critical data and expert analysis on the digital power utility industry landscape.

What Is The Current Outlook For The Digital Power Utility Market By 2025?
The digital power utility market size has grown rapidly in recent years. It will grow from $92.43 billion in 2024 to $110.15 billion in 2025 at a compound annual growth rate (CAGR) of 19.2%. The growth in the historic period can be attributed to the rising focus on renewable energy projects and energy storage devices, rising distribution and transmission network, the increasing global warming and degradation of natural resources, growing environmental concerns, increasing number of renewable energy plants.

The digital power utility market size is expected to see rapid growth in the next few years. It will grow to $226.97 billion in 2029 at a compound annual growth rate (CAGR) of 19.8%. The growth in the forecast period can be attributed to the growing industrialization and urbanization have led to a surge in energy demand, the growing digitalization worldwide, increasing electricity generation and energy demand consumption, the rising need for renewable energy, rising need for green energy. Major trends in the forecast period include digitalization of power plants worldwide, technological advancements, increase in renewable energy sector and renewable integration, increased demand for energy from renewable sources, rapid digitalization are fueling the demand for digital utility solutions.

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What Are The Key Driving Factors For The Growth Of The Digital Power Utility Market?
The rising need for renewable energy is expected to propel the growth of the digital power utility market going forward. Renewable energy is energy derived from natural sources that are replenished at a higher rate than they are consumed. There is a growing public awareness of the environmental and social impacts of fossil fuels and increasing demand for cleaner and more sustainable energy solutions. Digital power utility is used in renewable energy to efficiently manage the fluctuating output of renewables, optimizing energy storage, and balancing supply and demand in real time. For instance, according to the European Commission, a Belgium-based governing body, in 2022, renewable energy accounted for 23.0% of energy consumed in the EU, up from 21.9% in 2021. Therefore, the rising need for renewable energy is driving the growth of the digital power utility market.

Global Digital Power Utility Market Report Segmentation
The digital power utilitymarket 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

What Are The Key Trends And Market Opportunities In The Digital Power Utility Sector?
Major companies operating in the digital power utility market are developing innovative solutions such as gridos to modernize and transform electricity grids for the future. This platform integrates energy data, network modeling, and AI and machine learning-driven analytics to power a suite of intelligent applications. For instance, in February 2023, GE Digital, a US-based Software industry corporation, launched gridos. The platform includes a 'zero trust' grid security model to protect resources from inside and outside threats. The partner ecosystem includes amazon web services (AWS) as a cloud provider and Accenture and Infosys among others as system integrators. The GridOS platform and application suite support GE Digital's grid operations portfolio mapping and design, advanced energy management system (aems) for transmission and market management operations, advanced distribution management system (ADMS) for distribution network operations, and distributed energy resource management system (derms) for forecasting and management.

Who Are The Leading Players 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

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Which Region Is Projected To Hold The Largest Market Share In The Global Digital Power Utility Market By 2029?
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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