Market Size of Digital Power Utility Industry
| 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
*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.
