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Learn details of the digital utility market that will grow at a CAGR of 12.79% by 2022

“Digital Utility Market By Network (Generation, Transmission And Distribution, And Retail), Technology (Hardware And Integrated Solutions (Cloud And Software, Services)), And Region (North America, Europe, And Asia-Pacific) - Global Forecast To 2022.”

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The digital utility market is projected to grow at a CAGR of 12.59%, from 2017 to 2022.

The digital utility market is projected to reach USD 244.32 billion by 2022, at a CAGR of 12.59%, 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.

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The retail sub segment of the network segment is expected grow at the highest CAGR, during the forecast period.

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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.

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