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Digital Utility Market Expected to Cross $299.1 Billion by 2025: Grand View Research, Inc

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Digital Utility Market Expected to Cross $299.1 Billion by 2025: Grand View Research, Inc

September 16
22:45 2019
Digital Utility Market Expected to Cross $299.1 Billion by 2025: Grand View Research, Inc

Grand View Research, Inc. – Market Research And Consulting.
According to report published by Grand View Research, The global digital utility market size was valued at USD 117.7 billion in 2016. It is expected to exhibit a CAGR of 11.6% over the forecast period.

The global digital utility market size is expected to reach USD 299.1 billion by 2025, according to a new study by Grand View Research, Inc., expanding at a CAGR of 11.6% during the forecast period. Technological advancements are leading to digitalization of businesses, including the power industry. The power industry is increasingly realizing the importance of digital technologies, which in turn is anticipated to augment the market over the forecast period. Companies have recognized the benefits of digitalization and are now focusing on two key areas, namely customer engagement and improvement of operations and productivity, thus transforming the way businesses are conducted in the power industry.

The growth of the digital utility market is driven by factors such as stringent regulatory norms and increasing number of distributed and renewable power generation projects. The demand for digital utility solutions is increasing rapidly owing to benefits provided by technologies such as digital asset management, digital utility maturity assessment, and digital utility enterprise architecture.

U.S. digital utility market size, by network, 2014-2025 (USD Billion)

The North America region commanded the leading revenue share in 2016 owing to factors such as rapid technological advancements, enhanced network connectivity, and high adoption rate of digital services.Some of the prominent companies operating in the market are ABB Ltd., IBM Corporation, International Business Machine Corporation, Microsoft Corporation, Oracle Corporation, and SAP SE.

Browse Details of Report, Please Visit @ https://www.grandviewresearch.com/industry-analysis/digital-utility-market

Key Takeaways from the report:

  • The hardware segment is likely to gain the highest share in the market over the forecast period. Hardware is extensively used in next generation equipment such as smart meters and transformers.
  • The transmission & distribution segment is poised to dominate the market over the forecast period. Digital utility solutions enable users to effectively perform the transmission & distribution activities.
  • North America was the leading revenue contributor in 2016owing to increasing number of renewable power plants and rising investments in electrical infrastructure.

Global digital utility market share, by technology, 2016 (%)

Have Any Query? Ask Our Experts @ https://www.grandviewresearch.com/inquiry/5074/ibb

Grand View Research has segmented the global digital utility market report based on technology, network, and region:

Digital Utility Technology Outlook (Revenue, USD Million, 2014 – 2025)

  • Hardware 
  • Integrated Solutions 

Digital Utility Network Outlook (Revenue, USD Million, 2014 – 2025)

  • Generation
  • Transmission & Distribution
  • Retail

Digital Utility Regional Outlook (Revenue, USD Million, 2014 – 2025)

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
  • Asia Pacific
    • China
    • India
    • Japan
  • Rest of The World

Browse Related Reports :

Narrowband-IoT Market Size, Share & Trends Analysis Report By Component (Network, Module), By Deployment (In-band, Guard-band, Standalone), By Device Type, By End Use, By Region, And Segment Forecasts, 2019 – 2025

https://www.grandviewresearch.com/industry-analysis/narrowband-nb-iot-market

Software Defined Perimeter Market Size, Share & Trends Analysis Report By Enforcement Point (Gateway, Controller, End-Point), By Deployment, By Organization, By Application, And Segment Forecasts, 2019 – 2025

https://www.grandviewresearch.com/industry-analysis/software-defined-perimeter-sdp-market

About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

Media Contact
Company Name: Grand View Research, Inc.
Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.
Email: Send Email
Phone: 1-415-349-0058, Toll Free: 1-888-202-9519
Address:201, Spear Street, 1100
City: San Francisco
State: California
Country: United States
Website: www.grandviewresearch.com/industry-analysis/digital-utility-market

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