The global digital utility market size was US$ 212.3 billion in 2021. The global digital utility market size is forecast to reach US$ 579.3 billion by 2030, growing at a compound annual growth rate (CAGR) of 11.8% during the forecast period from 2022 to 2030.

In order to be geographically enabled and highly adjustable, Digital Utility Solutions are built from a combination of real-world, project-tested services and software. A digital utility is a utility that has undergone a digital transformation through the adoption of new digital working practices, frequently to achieve new business objectives. Common company objectives can include streamlining processes, enhancing client relations, increasing efficiency, and hoping to inspire new business ideas.

Factors Influencing Market Growth
The growing number of renewable power generation projects and energy efficiency mandates drive the global market.

The rise in efficiency in the distribution of power utilities and productivity advancements boosts the global market growth.

The growing integration of technologies, such as the Internet of Things, with digital utility services is forecast to offer lucrative opportunities for the global market.

The increasing demand for distributed energy generation, renewable energy sources, and smart grids boost the global market growth.

The increased operating costs of upgrading existing infrastructure may slow down the overall market growth.

The increase in customer demand for highly responsive systems and advanced user experiences fuels the global market.

Impact Analysis of COVID-19
The COVID-19 pandemic had a positive impact on the global market. Several governments worldwide imposed a lockdown in order to curb the virus from spreading, which has increased the demand for work-from-home trends. In addition, online access to digital utility services has proven useful for users, boosted demand, and drive expansion.

Regional Analysis
The Asia Pacific region garnered a substantial market share in 2021 and is forecast to remain dominant during the forecast period. As a result of the growing demand for domestic electricity and the shift in regulatory standards. In addition, growing infrastructural expansion activities and rising energy needs.

North America is forecast to have considerable growth during the forecast period. As a result of the rising number of renewable power plants and growing investments in electrical infrastructure. In addition, increasing digitalization and the advent of several connected devices. Additionally, the growing number of renewable power plants cater to the requirements of the rising population. Thus, these factors drive the market growth in the region.

Leading Competitors
The leading prominent companies profiled in the global digital utility market are:
Capgemini SA
Accenture PLC
Cisco Systems Inc
Microsoft Corporation
International Business Machine Corporation
SAP SE
Oracle Corporation
Cognizant Technology Solutions Corporation
Siemens AG
General Electric Company
Other Prominent Players

Scope of the Report
The global digital utility market segmentation focuses on Network, Technology, and Region.
Segmentation based on Network
Generation
Transmission and Distribution
Retail
Segmentation based on Technology
Hardware
Integrated Solutions
o Cloud and Software
o Services
Segmentation based on Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America

Meta Title: Digital Utility Market Size, Share, Insight, and Forecast 2022 to 2030
Meta Description: Global Digital Utility Market is projected to reach US$ 579.3 billion by the end of 2030 from US$ 212.3 billion in 2021, at a CAGR of 11.8%
Meta Keywords: digital utility market Size, digital utility market share, digital utility market trend, digital utility market Forecast, digital utility market insight