The global digital utility market is estimated to grow at a significant CAGR of XX% during the forecast period. The market is mainly driven due to the increasing use of unpredictable renewable energy sources in power generation which has caused an imbalance of energy demand and supply. For managing this, utilities, independent power producers and other energy companies are exploring effective ways. The companies are leveraging digital technology for improving the accessibility and efficiency of renewable energy technologies. Moreover, growing smart city projects further provide substantial opportunity to market growth during the forecast period. However, the high initial cost of installation further expected to hinder the market growth.
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The global digital utility market is segmented on the basis of product type and network. Base on product type the global digital utility market is segmented into hardware and software & services. On the basis of network, the global digital utility market is segregated into retail, generation, transmission, and distribution. As per IFR, the estimated annual supply of industrial robots in the automotive industry has increased from 103,000 units in 2016 to 116,000 in 2018. Electrical and electronic held the second-largest position in industrial robots with 113,000 units’ installation in 2018. The rising demand for industrial robots and industry 4.0 further contributes to the growth of the hardware segment. On the basis of industry, the global digital utility market is segregated into automotive, aerospace & defense, electrical & electronics, energy & power, chemical industry, and others.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Digital Utility Market Segmentation
By Product Type
- Hardware
- Software and Services
By Network
- Retail
- Generation
- Transmission and Distribution
Global Digital Utility Market – Segment by Region
North America
- United States
- Canada
Europe
- Germany
- United Kingdom
- France
- Spain
- •Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
The Report Covers
- Market value data analysis of 2018 and forecast to 2025.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global digital utility market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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