The Digital Power Utility Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
Learn More On The Digital Power Utility Market:
https://www.thebusinessresearchcompany.com/report/digital-power-utility-global-market-report
According to The Business Research Company’s Digital Power Utility Global Market Report 2024, 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.
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.
Get A Free Sample Of The Report (Includes Graphs And Tables):
https://www.thebusinessresearchcompany.com/sample.aspx?id=13837&type=smp
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
Major companies operating in the digital power utility market are developing innovative solutions such as gridos to modernize and transform electricity grids for the future. This platform integrates energy data, network modeling, and AI and machine learning-driven analytics to power a suite of intelligent applications. For instance, in February 2023, GE Digital, a US-based Software industry corporation, launched gridos. The platform includes a ‘zero trust’ grid security model to protect resources from inside and outside threats. The partner ecosystem includes amazon web services (AWS) as a cloud provider and Accenture and Infosys among others as system integrators. The GridOS platform and application suite support GE Digital’s grid operations portfolio mapping and design, advanced energy management system (aems) for transmission and market management operations, advanced distribution management system (ADMS) for distribution network operations, and distributed energy resource management system (derms) for forecasting and management.
The digital power utility market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
.
.
.
27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: [email protected]
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
