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Digital Power Utility Market 2018 Global Industry Size, Share, Forecasts Analysis, Company Profiles, Competitive Landscape and Key Regions 2023 | 360 Market Updates

Digital Power Utility

Digital Power Utility Market (2018 – 2023) report provides the newest industry data and industry future trends, allowing you to identify the products and end users driving Revenue growth and profitability. The Digital Power Utility market report lists the leading competitors and provides the insights strategic industry Analysis of the key factors influencing the market.

Digital Power Utility Market report is anticipated to register a CAGR of XX% over a five years forecast period (2018 – 2023).”

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List of Major Key players operating in the Global Digital Power Utility Market are –

  • General Electric Co.-Siemens AG -ABB Ltd. -Accenture Plc-Capgemini SE-Sap SE-IBM-Microsoft Corporation -Oracle Corporation-Wipro Ltd.-Infosys Ltd.

The concept of digitalizing power utilities is gaining pace amidst recent technological advancements in power sector. Utilities are known as slow adopters when it comes to technology while government regulations have largely dis-incentivized the adoption of latest technology and planning processes. Several power utilities across the world have now learnt the advantages and importance of digitalization which are much prevalent in other industries. Today, several startups and big companies provide technologies and platforms that allow power producers, utilities and other companies in the energy sector to reduce their operating costs, increase revenues and exploit new business opportunities. Some of the key benefits for power utilities by going digital are optimized operation and maintenance, efficient asset management, managing electricity loads, higher customer satisfaction due to the higher predictability of energy ecosystem.

Increase in Renewable Energy Sector and Renewable Integration- Driving the Digital Power Utility Market
The last two decades have shown some remarkable transition in the power sector. A shift from conventional power centric policies to renewable focused policies by several nations have resulted in a significant rise in renewable energy share in the global energy mix. The next big change to impact the power sector is the rapid adoption of digital platforms, and the renewable sector is an early adopter of this technology. Along with several other advantages, digitalization can also help integrate variable renewables by enabling grids to better match energy demand to times when the sun is shining, and the wind is blowing. Digitalization can further facilitate the development of distributed energy resources, such as household solar PV panels and storage, by creating better incentives and making it easier for producers to store and sell surplus electricity to the grid. New tools such as blockchain could help to facilitate peer-to-peer electricity trade within local energy communities. Among all the renewable power generation technologies available in the world, the solar and wind have shown potential growth, attracting significant government spending. The policy landscape of governments and associations all over the world are focused primarily on these renewable power sources.

North America – Among the early adopter of digitalization
North American countries such as the US and Canada are among the few first countries to strengthen its power utilities using digital platforms. Digital transformation in North America is driving utilities to change their business and operating and information models. Further, North American power utility market is highly competitive, and any value addition to its existing services means a great deal to its consumers. With the potential of cleaner energy supply coming from renewable energy and the surge in shale gas in North America, utilities are in a position where they must evolve their supply mix and innovate to protect their customer base.

US Department of Energy’s (DOE) SunShot initiative – An effective step towards digitalization of solar power industry
The US Department of Energy’s (DOE) SunShot initiative seeks to make solar cost-competitive with other forms of electricity. The initiative funds innovative projects by organizations, universities and national laboratories that drive down the cost of solar technology. The SunShot program has made several mapping applications open-source, in order to assist in siting decisions. PVMapper is an example of a geographical information system that takes into account site location, time zone, sun path and nearby weather station data, among other variables, to optimize the decisions on location and commissioning. Since SunShot’s launched in 2011, the average price per kilowatt-hour of a utility-scale PV project has dropped from approximately USD 0.21 to USD 0.11, of which some value can be attributed to better siting. SunShot has achieved roughly 70% of the program’s goal after only three years of the 10-year timeline, demonstrating the initiative’s impact.

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Scope of the Report:

The report analyses Digital Power Utility market, which includes –

  • Analysis of the growth of Digital Power Utility market in global and regional level including Asia-Pacific, Americas, and EMEA.
  • The report provides Digital Power Utility market analysis for key countries including the US, Canada, Chile, China, India, Japan, the UK, Germany, France, and Italy.
  • The report offers country level Digital Power Utility market volume and value by end-user segment for the period 2012-2023.
  • Qualitative analysis of key market drivers and restraints, and analysis of their impacts on Digital Power Utility market are discussed.
  • The report provides competitive landscape at country level for the year 2018. It also covers key policies and initiatives, key deals, and key upcoming projects.

Highlighted points of Digital Power Utility Market Report:

  • Varying dynamics of the Digital Power Utility industry.
  • Prospective changes in sales volumes and worldwide share growth in upcoming years (2018-2023).
  • Digital Power Utility market report recognizes the key drivers of growth and challenges of the key industry players.
  • Competitors profiles along with product description, overview, and business data.
  • A complete analysis of market risks, opportunities, limitations, and growth of the market.
  • Market driving and restraining factors.
  • Delivers information on the historical and current market size and the future potential of the market.
  • Digital Power Utility market report provides a comprehensive analysis of the market with respect to market dynamics, competitive analysis, and upcoming trends of the market.

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Reasons to Purchase Digital Power Utility Market Report:

  • The report analyses how stringent emission control norms will drive the global Digital Power Utility market.
  • Analyzing various perspectives of the market with the help of Porter’s five forces analysis.
  • Study on the product type that is expected to dominate the market.
  • Study on the regions that are expected to witness the fastest growth during the forecast period.
  • Identify the latest developments, market shares and strategies employed by the major Digital Power Utility market players.
  • 3 months’ analyst support along with the Market Estimate sheet (in excel).

In this study, the years considered to estimate the market size of Digital Power Utility:

History Year: 2013-2017
Base Year: 2017
Estimated Year: 2018
Forecast Year 2018 to 2023

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Mr. Ajay More

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