Digital Utility Market - 2022 Analysis, Trends and Forecasts
Digital Utility Market research report categorizes by by Network (Generation, Transmission and Distribution, and Retail), Technology (Hardware and Integrated Solutions (Cloud and Software, Services)), and Geography (North America, Europe, and Asia-Pacifi
(EMAILWIRE.COM, October 12, 2018 ) The global digital utility market is projected to grow at a CAGR of 12.57%, from 2017 to 2022, to reach a market size of USD 244.31 Billion by 2022. An increase in the number of distributed and renewable power generation projects, energy efficiency mandates demanding carbon emission reduction, and strict regulatory requirements for electric utilities will drive the digital utility market during the forecast period.
The report segments the digital utility market, by network, into generation, transmission and distribution, and retail. The transmission and distribution subsegment dominated the network segment as it accounted for the largest part of the spending on aged infrastructure. New digital devices and communications and control systems improve the efficiency of assets and increase the ability of operators to monitor and manage electric transmission and distribution systems.
Based on technology, the digital utility market is segmented into integrated solutions and hardware. Hardware is the largest segment of the digital utility market, by technology. Hardware covers all the equipment in a digital substation, such as smart meters, smart thermostats, programmable logic controllers, and smart transformers, among others. The cost of hardware is high and, hence, the segment accounts for a larger share of the market.
To know about the assumptions considered for the study, Download the PDF Brochure @ https://www.marketsandmarkets.com/pdfdownload.asp?id=230978516
In this report, the digital utility market has been analyzed with respect to six regions, namely, North America, Europe, Asia-Pacific, South America, the Middle East, and Africa. The market in North America is expected to lead the global digital utility market during the forecast period, due to the upgradation of aging infrastructure and increase in electricity demand in the region.
Upcoming smart cities and a need to improve the productivity and efficiency of power utilities can lead to opportunities in the digital utility market. But, high initial costs could be a restraint for the digital utility market, leading to declining profits.
Some of the leading players in the digital utility market include Accenture plc (Ireland), Cap Gemini S.A. (France), General Electric Company (U.S.), Siemens AG (Germany), SAP SE (Germany), and International Business Machines Corporation (U.S.), among others. Contracts & agreements and new product launches were the most adopted strategies by players to ensure their dominance in the market.
To speak to our analyst for a discussion on the above findings, click Speak to Analyst @ https://www.marketsandmarkets.com/speaktoanalyst.asp?id=230978516
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: 1-888-600-6441
newsletter@marketsandmarkets.com
The report segments the digital utility market, by network, into generation, transmission and distribution, and retail. The transmission and distribution subsegment dominated the network segment as it accounted for the largest part of the spending on aged infrastructure. New digital devices and communications and control systems improve the efficiency of assets and increase the ability of operators to monitor and manage electric transmission and distribution systems.
Based on technology, the digital utility market is segmented into integrated solutions and hardware. Hardware is the largest segment of the digital utility market, by technology. Hardware covers all the equipment in a digital substation, such as smart meters, smart thermostats, programmable logic controllers, and smart transformers, among others. The cost of hardware is high and, hence, the segment accounts for a larger share of the market.
To know about the assumptions considered for the study, Download the PDF Brochure @ https://www.marketsandmarkets.com/pdfdownload.asp?id=230978516
In this report, the digital utility market has been analyzed with respect to six regions, namely, North America, Europe, Asia-Pacific, South America, the Middle East, and Africa. The market in North America is expected to lead the global digital utility market during the forecast period, due to the upgradation of aging infrastructure and increase in electricity demand in the region.
Upcoming smart cities and a need to improve the productivity and efficiency of power utilities can lead to opportunities in the digital utility market. But, high initial costs could be a restraint for the digital utility market, leading to declining profits.
Some of the leading players in the digital utility market include Accenture plc (Ireland), Cap Gemini S.A. (France), General Electric Company (U.S.), Siemens AG (Germany), SAP SE (Germany), and International Business Machines Corporation (U.S.), among others. Contracts & agreements and new product launches were the most adopted strategies by players to ensure their dominance in the market.
To speak to our analyst for a discussion on the above findings, click Speak to Analyst @ https://www.marketsandmarkets.com/speaktoanalyst.asp?id=230978516
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: 1-888-600-6441
newsletter@marketsandmarkets.com
Contact Information:
MarketsandMarkets™
Mr. Shelly Singh
Tel: 1-888-600-6441
Email us
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MarketsandMarkets™
Mr. Shelly Singh
Tel: 1-888-600-6441
Email us
----
This press release is posted on EmailWire.com -- a global newswire that provides Press Release Distribution Services with Guaranteed Results