Digital Utility Industry to 2023- By Network - Generation , Transmission & Distribution , Retail
The Digital Utility market size will grow from USD 134.76 Billion in 2017 to USD 275.24 Billion by 2023, at an estimated CAGR of 12.64%. The base year considered for the study is 2017, and the market size is projected from 2018 to 2023.
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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. 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.
By Market Players:
ABB Ltd. , Accenture PLC , Capgemini SA , Cisco Systems Inc. , Eaton Corporation PLC , General Electric Company , International Business Machine Corporation , Mircosoft Corporation , Oracle Corporation , SAP SE , Schneider Electric SE , Siemens AG,
By Network
Generation , Transmission & Distribution , Retail,
By Technology
Hardware , Services, Cloud & Software,
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