To strategically analyze the digital utility market with respect to individual growth trends, future prospects, and contribution of each segment to the market
The digital utility market is projected to grow at a CAGR of 12.57%, from 2017 to 2022.
The digital utility market is projected to reach USD 244.31 billion by 2022, at a CAGR of 12.57%, from 2017 to 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 are the major drivers of the digital utility market. High initial costs can hinder the growth of the digital utility market.
“The retail sub segment of the network segment is expected to grow at the highest CAGR, from 2017 to 2022.”
The retail sub segment of the network segment is expected grow at the highest CAGR, during the forecast period. Electric utilities are gradually transforming from being electricity suppliers to energy service providers, and the customers are also becoming involved in the electric value chain.
End-users are installing power generating sources such as solar panels and small wind, among others, to become self-sufficient, and also actively participating in demand response programs.
*Top 15 Companies Analyzed for This Studies are - The leading players in the switchgear market include ABB Ltd. (Switzerland), General Electric Company (US), Siemens AG (Germany), Eaton Corporation plc (Ireland),and Schneider Electric SE (France).
The target audience of this report includes:
- Switchgear manufacturers, dealers, and suppliers
- Transmission and distribution utilities
- State and national regulatory authorities
- Power generation plants
- Consulting companies in the energy and power sector
- Government and research organizations
- Environmental research institutes
- Process industries and power and energy associations
- Investment firms
Key point from table of content
6 Switchgear Market, By Voltage
6.2 <1 kV
6.3 1 kV to 36 kV
6.4 36 kV to 72.5 kV
7 Switchgear Market, By End-User
7.2 Transmission & Distribution Utilities
7.3 Manufactuirng and Process Industries
8 Switchgear Market, By Equipment
8.2 MCB & MCCB
8.3 Ring Main Unit
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