Digital Power Utility Market Share, Analysis - Segmented by Technology (Integrated Solutions, Hardware), Sector (Power Generation, Transmission And Distribution, Energy Storage, Energy Trading) and Geography - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Looking to buy the report?

Digital Power Utility Market

The concept of digitalizing power utilities is gaining pace amidst recent technological advancements in power sector. Utilities are known as slow adopters when it comes to technology while government regulations have largely dis-incentivized the adoption of latest technology and planning processes. Several power utilities across the world have now learnt the advantages and importance of digitalization which are much prevalent in other industries. Today, several startups and big companies provide technologies and platforms that allow power producers, utilities and other companies in the energy sector to reduce their operating costs, increase revenues and exploit new business opportunities. Some of the key benefits for power utilities by going digital are optimized operation and maintenance, efficient asset management, managing electricity loads, higher customer satisfaction due to the higher predictability of energy ecosystem.

Increase in Renewable Energy Sector and Renewable Integration- Driving the Digital Power Utility Market

The last two decades have shown some remarkable transition in the power sector. A shift from conventional power centric policies to renewable focused policies by several nations have resulted in a significant rise in renewable energy share in the global energy mix. The next big change to impact the power sector is the rapid adoption of digital platforms, and the renewable sector is an early adopter of this technology. Along with several other advantages, digitalization can also help integrate variable renewables by enabling grids to better match energy demand to times when the sun is shining, and the wind is blowing. Digitalization can further facilitate the development of distributed energy resources, such as household solar PV panels and storage, by creating better incentives and making it easier for producers to store and sell surplus electricity to the grid. New tools such as blockchain could help to facilitate peer-to-peer electricity trade within local energy communities. Among all the renewable power generation technologies available in the world, the solar and wind have shown potential growth, attracting significant government spending. The policy landscape of governments and associations all over the world are focused primarily on these renewable power sources.

North America – Among the early adopter of digitalization

North American countries such as the US and Canada are among the few first countries to strengthen its power utilities using digital platforms. Digital transformation in North America is driving utilities to change their business and operating and information models.  Further, North American power utility market is highly competitive, and any value addition to its existing services means a great deal to its consumers. With the potential of cleaner energy supply coming from renewable energy and the surge in shale gas in North America, utilities are in a position where they must evolve their supply mix and innovate to protect their customer base.

US Department of Energy’s (DOE) SunShot initiative – An effective step towards digitalization of solar power industry

The US Department of Energy’s (DOE) SunShot initiative seeks to make solar cost-competitive with other forms of electricity. The initiative funds innovative projects by organizations, universities and national laboratories that drive down the cost of solar technology. The SunShot program has made several mapping applications open-source, in order to assist in siting decisions. PVMapper is an example of a geographical information system that takes into account site location, time zone, sun path and nearby weather station data, among other variables, to optimize the decisions on location and commissioning. Since SunShot's launched in 2011, the average price per kilowatt-hour of a utility-scale PV project has dropped from approximately USD 0.21 to USD 0.11, of which some value can be attributed to better siting. SunShot has achieved roughly 70% of the program's goal after only three years of the 10-year timeline, demonstrating the initiative's impact.

                                             Digital Power Utility Market

Key Developments in the Digital Power Utility Market

  • October 2017: General Electric and Microsoft enter into an IoT partnership to cater its North American customers. November 2017 onwards, North American customers and developers using Predix, GE’s software platform for the Industrial Internet, will be able to build powerful industrial apps on Azure, Microsoft’s cloud for businesses.

Digital Power Utility Market Major Players

  • General Electric Co.
  • Siemens AG
  • ABB Ltd.
  • Accenture Plc
  • Capgemini SE
  • Sap SE
  • IBM
  • Microsoft Corporation
  • Oracle Corporation
  • Wipro Ltd
  • Infosys Ltd

Reasons to Purchase Digital Power Utility Market Report

  • Current and future digital power utility market outlook in the developed and emerging markets
  • Analyzing various perspectives of the market with the help of Porter’s five forces analysis
  • The segment that is expected to dominate the market
  • Regions that are expected to witness fastest growth during the forecast period
  • Identify the latest developments, and strategies employed by the major market players.
  • 3 months analyst support along with the Market Estimate sheet (in excel)

Customize Digital Power Utility Market Report

  • This report can be customized to meet your requirements. Please connect with our representative, who will ensure you to get a report that suits your needs.

1. Executive Summary

2. Research Methodology

                2.1 Scope Of Study

                2.2 Market Definition

                2.3 Study Assumptions

                2.4 Study Deliverables

                2.5 Research Phases

3. Digital Power Utility Market Overview

                3.1 Introduction

                3.2 Current Installed Power Capacity

                3.3 Current Energy Mix

                3.4 Current Electricity Production And Consumption

                3.5 Recent Trends And Developments

4. Investment Opportunities

5. Government Policies, Regulations, And Targets

6. Market Dynamics

                6.1 Digital Power Utility Market Drivers

                6.2 Digital Power Utility Market Restraints

                6.3 Digital Power Utility Market Opportunities

7. Digital Power Utility Market Value Chain Analysis

8. Porter’s Five Forces Analysis

                8.1 Bargaining Power Of Suppliers

                8.2 Bargaining Power Of Consumers

                8.3 Threat Of New Entrants

                8.4 Threat Of Substitute Products And Services

                8.5 Intensity Of Competitive Rivalry

9.  Global Digital Power Utility Market Analysis, By Technology  (Market Overview, Installed Capacity And Forecast Until 2023)

                9.1 Integrated Solutions

                9.2 Hardware    

10. Global Digital Power Utility Market Analysis, By Sector

                10.1 Power Generation

                10.2 Transmission And Distribution

                10.3 Energy Storage

                10.4 Energy Trading

11. Global Digital Power Utility Market Analysis, By Geography

                11.1 North America Digital Power Utility Market Analysis (2018-2023)

                11.2 Asia-pacific Digital Power Utility Market Analysis (2018-2023)

                11.3 Europe Digital Power Utility Market Analysis (2018-2023)

                11.4 Middle East & Africa Digital Power Utility Market Analysis (2018-2023)

                11.5 South America Digital Power Utility Market Analysis (2018-2023)

12. Key Digital Power Utility Projects

                12.1 Existing Projects

                12.2 Upcoming Projects

                12.3 Projects In Pipeline

13. Digital Power Utility Market Key Company Profiles* (Overview, Products & Services, Financials**, Recent Developments)

                13.1 General Electric Co.

                13.2 Siemens AG       

                13.3 ABB Ltd.       

                13.4 Accenture Plc

                13.5 Capgemini SE

                13.6 Sap SE

                13.7 IBM

                13.8 Microsoft Corporation     

                13.9 Oracle Corporation

                13.10 Wipro Ltd.

                13.11 Infosys Ltd.

                 * List of companies is not exhaustive. Please Let us know, if interested in any other company.

                ** Subject to availability on public domain

14. Digital Power Utility Market Competitive Landscape

                14.1 Mergers & Acquisitions

                14.2 Joint Ventures, Collaborations, And Agreements

                14.3 Strategies Adopted By Leading Players

15. Future of the Digital Power Utility Market

16. Appendix

Looking to buy the report?

Need a report that reflects how COVID-19 has impacted this market and its growth?

Looking to customize report?



By submitting, you confirm that you agree to our privacy policy