(I-BusinessNews.Com, March 13, 2019 ) The hardware segment of the technology is anticipated to dominate the market during the forecast period because it is widely used in equipment, like smart meters & smart transformers. Smart grids are more efficient and less capital intense, allowing for predictive maintenance and better asset health. The Digital Utility is providing platform solution for real-time analytics. All major energy suppliers have invested in online and especially mobile channels in recent years. The adoption of advanced digital technology in utility is widely used in U.S as it is driven by quality data and effective process automation.
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According to Publisher,the Global Digital Utility Market is accounted for $105.34 billion in 2016 and expected to grow at a CAGR of 15.0% to reach $281.08 billion by 2023. Factors such as growing distributed and renewable power generation projects and stringent regulatory norms for electric utilities are driving the market growth. However, high initial costs will hinder the market growth. Smart Cities along with Smart meters & smart grids will provide opportunity for the market to grow. Cyber security in the power and utilities sector is a major threat to the market.
The key players in global Digital Utility market are:
International Business Machine (IBM), Microsoft, Oracle, SAP SE, Schneider Electric SE, Siemens AG, ABB, Accenture PLC, Capgemini SA, Cisco Systems, Eaton Corporation PLC and General Electric Company.
Based on Network, the transmission and distribution segment dominated market due to increase in monitoring and management of electric transmission and distribution systems. The retail segment is anticipated to grow at the highest CAGR, during the forecast period as by using customer data analytics, one northern European energy supplier was able to increase up-selling and cross-selling significantly. For instance, Thermondo in Germany, have utilized their business model on improving various customer interaction points.
Deployment Modes Covered:
– On Premises
– Transmission & Distribution
Regional market size, production data and export & import:
Asia-Pacific, North America, Europe, South America, Middle East & Africa.
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The Research Report on Global Digital Utility Market provides a comprehensive study comprising of a top-to-bottom research on the market dynamics, including market size, applications, types, rising technology, industry vertical, region, growth drivers & restraints.
Table of Content:
1. Executive Summary
3. Market Trend Analysis
4. Porters Five Force Analysis
5. Global Digital Utility Market, By Deployment Mode
6. Global Digital Utility Market, By Technology
7. Global Digital Utility Market, By Network
8. Global Digital Utility Market, By Geography
9. Digital Utility Market, By Application
10. Digital Utility Market, By Type
11. Company Profiles
12. Market Opportunities, Challenges, Risks and Influences Factors Analysis
13. Value Chain and Sales Channels Analysis
14.Research Findings and Conclusion
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