Digital Utility Market By Network (Retail, Transmission & Distribution, Generation), By Technology (Cloud & Software, Hardware, Services) - Global Opportunity Analysis and Industry Forecast, 2018-2023
Global Digital Utility Market was valued at USD 134.16 Billion for the year 2017. Digital Utility Market is further expected to grow at a CAGR of 12.38% from 2018 to reach USD 270.24 Billion by the year 2023.
North America region holds the highest market share in 2017. While Asia-Pacific region is considered as the fastest growing market in the forecasted period.
U.S. is the major market in 2017 at country level and China is further anticipated to grow at a steady pace in the next 5 years.
Accenture plc (Ireland), General Electric Company (US), Siemens AG (Germany), SAP SE (Germany) and IBM Corporation (US) are some of the top players in the Digital Utility Market with IBM Corporation holding a substantial market share in 2017. Better global reach at operational level is the main reason for holding this market share.
Rising research and development expenses to satisfy the changing demands of end users, new product launches and organic growth strategies were few techniques adopted by various manufacturers in last 5 years.
Rising demand for renewable power generation ventures
High Initial Investments
Asian countries adopting to smart city concepts
Implementation & adoption of new technology
The segmentation done on the basis of Technology includes Cloud & Software, Hardware and Services of which the Hardware segment is expected to hold the highest market share during the forecast period.
The segmentation done on the basis of Network include Retail, Transmission & Distribution, and Generation of which the Transmission & Distribution segment is expected to grow at the highest CAGR during the forecasted period.
Key Benefits for Stakeholders
Digital Utility System service providers
Research and Consulting organization
End use industries
Regulatory bodies, policy makers and consumers.
Transmission & Distribution
Cloud & Software
Key Market Players
Eaton Corporation PLC
Cisco Systems Inc.
General Electric Company
Schneider Electric SE
(Another brief information of 13 companies will provided in report)
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