What Are the Key Milestones in the Digital Power Utility Market’s Growth Trajectory From 2025 To 2034?
The market size for digital power utilities has seen a significant rise over the past few years. It is projected to increase from $92.43 billion in 2024 to $110.98 billion in 2025, with a compound annual growth rate (CAGR) of 20.1%. The historical growth can be credited to a heightened emphasis on renewable energy ventures and energy storage systems, expanding networks for distribution and transmission, escalating concerns about global warming and the deterioration of natural resources, increased environmental consciousness, and a rise in the quantity of renewable energy facilities.

Anticipated to witness a significant surge in the coming years, the market size of digital power utilities will expand to a massive $230.16 billion by 2029, experiencing a compound annual growth rate (CAGR) of 20.0%. This projected growth throughout the predicted period can be traced back to numerous factors such as escalating global industrialization and urbanization which in turn has multiplied the demand for energy; heightened levels of digitalization globally; augmented generative capacity of electricity and consumption of energy; and an escalating demand for green and renewable energy. Several key trends that will define the forecast period include a global movement towards the digitalization of power plants, advances in technology, the swelling renewable energy sector and its integration, augmented demand for energy produced from renewable sources, and a swift digitalization that is catalyzing the demand for digital utility solutions.

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How Are Key Drivers in the Industry Acting as Catalysts for the Growth of the Digital Power Utility Market?
The surge in demand for renewable energy is anticipated to catalyze the expansion of the digital power utility market in the future. Renewable energy, which is energy sourced from natural elements that regenerate faster than they are utilized, is gaining traction. The public is increasingly conscious of the environmental and social repercussions of fossil fuels, and the call for cleaner and more environmentally friendly energy alternatives is escalating. Digital power utility plays a crucial role in renewable energy by effectively dealing with the variable output of renewables, maximizing energy storage, and equalizing supply and demand instantaneously. The European Commission, based in Belgium, reports that 23.0% of energy consumed in the EU in 2022 came from renewable sources, a rise from 21.9% in 2021. Thus, the escalating demand for renewable energy is powering the advance of the digital power utility market.

Which Segments in the Digital Power Utility Offer the Most Growth?
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

Subsegments:
1) By Hardware Service: Smart Meters, Grid Management Equipment, Communication Infrastructure, Substation Automation Devices, Distributed Energy Resource (DER) Management Hardware
2) By Software Service: Energy Management Software, Advanced Metering Infrastructure (AMI) Software, Grid Analytics Software, Outage Management Software, Customer Engagement Software

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What Are the Fastest-Growing Geographies in the Digital Power Utility Market?
North America was the largest region in the digital power utility market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the digital power utility market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

What Are the Current Market Growth and Trends in the Digital Power Utility Industry?
Leading businesses in the digital power utility market are pioneering novel solutions such as gridos to upgrade and overhaul power grids to adapt to future requirements. This platform blends energy data, network design, and analytics guided by AI and machine learning to fuel a variety of smart applications. For example, in February 2023, GE Digital, a prominent Software enterprise from the United States, introduced gridos. This platform comes equipped with a ‘zero trust’ grid security model designed to safeguard resources against both internal and external threats. The partner framework includes renowned cloud service provider Amazon Web Services (AWS), and system integration partners such as Accenture and Infosys. The GridOS platform and the suite of applications are pivotal to GE Digital’s grid operations portfolio organization and design, superior energy management system (AEMS) for transmission and market management operations, advanced distribution management system (ADMS) for distribution network operations, and the distributed energy resource management system (DERMS) intended for prediction and management.

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What Are the Key Elements That Define the Digital Power Utility Market?
Digital power utility refers to the integration of advanced technologies, data analytics, and communication systems within the traditional utilities infrastructure to enhance efficiency, reliability, and sustainability. This concept involves the use of digital devices and systems to monitor and control the generation, distribution and consumption of electricity.

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