Digital Power Utility Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

Global Digital Power Utility Market Research report is segmented by Technology (Integrated Solutions and Hardware), Sector (Power Generation, Transmission and Distribution (T&D), Energy Storage, and Energy Trading), and Geography (North America, South America, Europe, Middle East & Africa, and Asia-Pacific).

Digital Power Utility Market Size

Digital Power Utility Market Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
CAGR > 5.80 %
Fastest Growing Market Asia-Pacific
Largest Market Asia-Pacific
Market Concentration Medium

Major Players

Digital Power Utility Market Major Players

*Disclaimer: Major Players sorted in no particular order


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

Digital Power Utility Market Analysis

forecast period, 2022-2027. The COVID-19 outbreak in Q1 of 2020 has severely depressed electricity demand across the globe. Also, led to declining investments in the energy industry and delayed the ongoing projects. Factors such as the growing electricity generation and energy consumption demand, especially renewable energy consumption, are expected to drive the digital power utility market during the forecast period. However, soaring operating costs for transmission and distribution infrastructure are expected to restrain the digital power utility market during the forecast period.

  • The power generation segment is expected to witness significant growth in the global digital power utility market during the forecast period.
  • Increasing demand for renewable energy, rising electric vehicles, and the adoption of heat pumps are expected to provide immense opportunities for the digital power utility market.
  • Asia-Pacific is expected to be the dominating market during the forecast period, owing to the high urbanization growth rate and growing electricity demand, mainly from China and India.

Digital Power Utility Market Trends

This section covers the major market trends shaping the Digital Power Utility Market according to our research experts:

Power Generation Segment to Witness Significant Growth

  • Power generation uses a variety of sources ranging from fossil fuels like coal, oil, and others to renewable sources like wind, solar, and others. The energy mix for electricity generation is dominated by fossil fuels like coal, oil, and natural gas, with the three constituting almost 60% of the global energy mix.
  • The power generation mix is heavily skewed toward coal with major contributions because of cheaper domestic fuel availability. Its share in the mix has increased over the years due to constraints in adding other conventional generation sources such as hydro, nuclear, and gas.
  • Coal thermal power plants are the most widely used thermal power plant and are expected to have the largest share of the global electricity supply by 2025. More efficient technologies like ultra-supercritical coal technology, which also reduces the amount of pollution (per KW), are likely to replace the aging power plants.
  • In 2020, the global electricity generation accounted for 26,823.2 Terawatt-hours (TWh), comprising natural gas by 6,268.1 TWh, coal by 9,421.4 TWh, oil by 758.0 TWh, nuclear energy by 2,700.1 TWh, hydroelectric by 4,296.8, and renewables by 3,378.8 TWh. The increasing electricity generation capacity is expected to witness significant demand in the digital power utility market.
  • China is constructing the highest number of thermal power plants in the world. Ultra-supercritical coal plants like Fuyang Power Station and Huadian Laizhou Power Station are being built to match the electricity demand.
  • In February 2021, General Electric Company (GE), CTCI Corporation (CTCI), and Southern Power Generation Sdn Bhd (SPG) announced the start of their commercial operation for Southern Power Generation's Track 4A Power Plant, a 1,440 MW combined-cycle gas power plant in Pasir Gudang, Johor, Malaysia. GE is expected to provide a full spectrum of digital solutions and plant improvement services, major inspections of the 9HA.02 gas turbines, and technical advisory services.
  • Therefore, based on the above-mentioned factors, digital power utility for power generation is expected to witness significant growth during the forecast period.
Digital Power Utility Market: Electricity Generation, in TWh, by Fuel Type, Global, 2020

Asia-Pacific to Dominate the Market

  • Asia-Pacific is the regional hotspot for the power market, owing to governmental support, numerous incentives, and national targets. In 2020, the primary energy consumption reached 556.63 exajoules all over the world.
  • Major countries in Asia-Pacific have inadequate transmission and distribution (T&D) networks, and hence, electricity is not available in some of the remote and rural areas. To bring electricity to these areas, the countries in the region are investing heavily in building a transmission line network.
  • According to IEA, in 2020, China was the largest market for power sector investment, supported by increased demand for power in the industrial and commercial sectors. Also, the power transmission and distribution grid of China has been experiencing major upgrades and modifications to make it capable of transmitting higher electricity and coping with future demand.
  • Energy investment in India has grown most rapidly over the past four years, up by more than 10%. In 2020, renewable spending continued to exceed that for fossil fuel-based power generation, supported by tendering of solar PV and wind projects. This is expected to drive the digital power utility market during the forecast period.
  • Also, as of 2020, nuclear power plants of 7,000 MW capacity were under various phases of construction in India.
  • In February 2022, the Indian government announced to allocate INR 19,500 crore to boost the manufacturing of solar modules under the government's flagship Production Linked Incentive (PLI) scheme. This is expected to drive the digital power utility market.
  • Therefore, based on the above factors, especially in the Asia-Pacific region, increased power demand is expected to have a positive impact on the digital power utility market during the forecast period.
Digital Power Utility Market: Electricity Generation, in TWh, by Fuel Type, Global, 2020

Digital Power Utility Industry Overview

The digital power utility market is moderately fragmented. The key players in the market include General Electric Company, Siemens AG, ABB Ltd., IBM Corporation, and Microsoft Corporation.

Digital Power Utility Market Leaders

  1. General Electric Company

  2. ABB Ltd.

  3. IBM Corporation

  4. Microsoft Corporation

  5. Siemens AG

*Disclaimer: Major Players sorted in no particular order

Digital Power Utility Market Concentration
Need More Details on Market Players and Competitors?
Download PDF

Digital Power Utility Market News

  • In March 2021, ABB reached the cumulative 5-gigawatt (GW) mark in providing Programmable Logic Controller-based (PLC) solar plant automation solutions in India.
  • In September 2021, Infosys Ltd and Microsoft Corp. signed a multi-year strategic deal with Ausgrid to accelerate the cloud transformation of the largest electricity distributor on Australia's east coast.
  • In October 2021, SP Group partnered with the Energy Market Authority (EMA) and the Science and Technology Policy and Plans Office to develop the country's first digital twin for the national grid. The digital twin is expected to help improve the resilience and reliability of the Singapore grid through real-time monitoring of events.

Digital Power Utility Market Report - Table of Contents


    1. 1.1 Scope of the Study

    2. 1.2 Market Definition

    3. 1.3 Study Assumptions




    1. 4.1 Introduction

    2. 4.2 Market Size and Demand Forecast in USD billion, till 2027

    3. 4.3 Recent Trends and Developments

    4. 4.4 Government Policies and Regulations

    5. 4.5 Market Dynamics

      1. 4.5.1 Drivers

      2. 4.5.2 Restraints

    6. 4.6 Supply Chain Analysis

    7. 4.7 Porter's Five Forces Analysis

      1. 4.7.1 Bargaining Power of Suppliers

      2. 4.7.2 Bargaining Power of Consumers

      3. 4.7.3 Threat of New Entrants

      4. 4.7.4 Threat of Substitutes Products and Services

      5. 4.7.5 Intensity of Competitive Rivalry


    1. 5.1 Technology

      1. 5.1.1 Integrated Solutions

      2. 5.1.2 Hardware

    2. 5.2 Sector

      1. 5.2.1 Power Generation

      2. 5.2.2 Transmission and Distribution (T&D)

      3. 5.2.3 Energy Storage

      4. 5.2.4 Energy Trading

    3. 5.3 Geography

      1. 5.3.1 North America

      2. 5.3.2 Europe

      3. 5.3.3 Asia-Pacific

      4. 5.3.4 South America

      5. 5.3.5 Middle East & Africa


    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Strategies Adopted by Leading Players

    3. 6.3 Company Profiles

      1. 6.3.1 General Electric Company

      2. 6.3.2 Siemens AG

      3. 6.3.3 ABB Ltd

      4. 6.3.4 Accenture PLC

      5. 6.3.5 Capgemini SE

      6. 6.3.6 IBM Corporation

      7. 6.3.7 SAP SE

      8. 6.3.8 Microsoft Corporation

      9. 6.3.9 Wipro Limited

      10. 6.3.10 Infosys Limited

    4. *List Not Exhaustive

**Subject to Availability
You Can Purchase Parts Of This Report. Check Out Prices For Specific Sections
Get Price Break-up Now

Digital Power Utility Industry Segmentation

The digital power utility market report includes:

Integrated Solutions
Power Generation
Transmission and Distribution (T&D)
Energy Storage
Energy Trading
North America
South America
Middle East & Africa
Need A Different Region Or Segment?
Customize Now

Digital Power Utility Market Research FAQs

The Digital Power Utility Market is projected to register a CAGR of greater than 5.80% during the forecast period (2024-2029)

General Electric Company, ABB Ltd., IBM Corporation, Microsoft Corporation and Siemens AG are the major companies operating in the Digital Power Utility Market.

Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the Asia-Pacific accounts for the largest market share in Digital Power Utility Market.

The report covers the Digital Power Utility Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Digital Power Utility Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Digital Power Utility Industry Report

Statistics for the 2024 Digital Power Utility market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Digital Power Utility analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

80% of our clients seek made-to-order reports. How do you want us to tailor yours?

Please enter a valid email id!

Please enter a valid message!

Digital Power Utility Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)