Digital Power Utility Market Analysis, Future Data, Trends, Growth Opportunities And Forecast 2024-2033

The Business Research Company has released its latest global market reports, covering insights for 2024 and offering projections up to 2033.

The Business Research Company presents an extensive market research report on the Digital Power Utility Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.

Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.

Market Sizing:

The digital power utility market size has grown exponentially in recent years. It will grow from $76.68 billion in 2023 to $92.43 billion in 2024 at a compound annual growth rate (CAGR) of 20.5%. The growth in the historic period can be attributed to the rising focus on renewable energy projects and energy storage devices, rising distribution and transmission network, the increasing global warming and degradation of natural resources, growing environmental concerns, increasing number of renewable energy plants.

The digital power utility market size is expected to see exponential growth in the next few years. It will grow to $191.34 billion in 2028 at a compound annual growth rate (CAGR) of 20.0%. The growth in the forecast period can be attributed to the growing industrialization and urbanization have led to a surge in energy demand, the growing digitalization worldwide, increasing electricity generation and energy demand consumption, the rising need for renewable energy, rising need for green energy. Major trends in the forecast period include digitalization of power plants worldwide, technological advancements, increase in renewable energy sector and renewable integration, increased demand for energy from renewable sources, rapid digitalization are fueling the demand for digital utility solutions.

Request for free sample report -
https://www.thebusinessresearchcompany.com/sample.aspx?id=13837&type=smp

Key Market Players:

Major companies operating in the digital power utility market report are Microsoft Corporation, Siemens AG, General Electric Company, Accentur*e PLC, The International Business Machines Corporation, Cisco Systems Inc., Oracle Corporation, Schneider Electric SE, Honeywell International Inc., SAP SE, ABB Ltd., Capgemini Ltd., Eaton Corporation plc, Cognizant, Infosys Ltd., Vestas Wind Systems A/S , Emerson Electric Co., Hitachi Energy Ltd., Wipro Ltd., Siemens Gamesa Renewable Energy S.A., Rockwell Automation Inc. , Nordex SE , PTC Inc., National Instruments Corporation, Mitsubishi Power Ltd., Toshiba Energy Systems & Solutions Corporation

Market Drivers:

The rising need for renewable energy is expected to propel the growth of the digital power utility market going forward. Renewable energy is energy derived from natural sources that are replenished at a higher rate than they are consumed. There is a growing public awareness of the environmental and social impacts of fossil fuels and increasing demand for cleaner and more sustainable energy solutions. Digital power utility is used in renewable energy to efficiently manage the fluctuating output of renewables, optimizing energy storage, and balancing supply and demand in real time. For instance, according to the European Commission, a Belgium-based governing body, in 2022, renewable energy accounted for 23.0% of energy consumed in the EU, up from 21.9% in 2021. Therefore, the rising need for renewable energy is driving the growth of the digital power utility market.

Learn More About The Market Report -
https://www.thebusinessresearchcompany.com/report/digital-power-utility-global-market-report

The digital power utility market covered in this report is segmented -
1) By Type: Hardware Service, Software Service
2) By Sector: Power Generation, Transmission And Distribution, Energy Storage, Energy Trading
3) By Organization Size: Large Enterprises, Small-sized Enterprises, Medium-sized Enterprises

Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model

Want To Know More About The Business Research Company?

The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialise in various industries including manufacturing, healthcare, financial services, chemicals, and technology.

Global Market Model - World's Most Comprehensive Database

The Business Research Company's flagship product, Global Market Model (www.thebusinessresearchcompany.com/global-market-model) is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps

This release was published on openPR.