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Digital Utility Industry Report 2026-2035, Profiles of ABB, Accenture, Capgemini, Cisco, Cognizant, Eaton, GE, Honeywell, IBM, Itron, Microsoft, Oracle, SAP, Schneider Electric, Siemens, Toshiba

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ACN Accenture is mentioned as a company within the digital utility market report, indicating its involvement in the sector. The article does not provide specific sentiment towards Accenture's performance or prospects. IBM IBM is listed as a company within the digital utility market report. The article does not offer specific sentiment or analysis regarding IBM's position or performance in this sector. MSFT Microsoft is mentioned as a company in the digital utility market report. The article does not provide specific sentiment or analysis regarding Microsoft's performance or prospects in this sector. ORCL Oracle is listed as a company within the digital utility market report. The article does not provide specific sentiment or analysis regarding Oracle's performance or prospects in this sector. GE General Electric (GE) is mentioned as a company within the digital utility market report. The article does not provide specific sentiment or analysis regarding GE's performance or prospects in this sector. HON Honeywell is listed as a company within the digital utility market report. The article does not provide specific sentiment or analysis regarding Honeywell's performance or prospects in this sector. ETN Eaton is mentioned as a company within the digital utility market report. The article does not provide specific sentiment or analysis regarding Eaton's performance or prospects in this sector. ITRN Itron is listed as a company within the digital utility market report. The article does not provide specific sentiment or analysis regarding Itron's performance or prospects in this sector. AVGO Cisco is mentioned as a company within the digital utility market report. The article does not provide specific sentiment or analysis regarding Cisco's performance or prospects in this sector. CTSH Cognizant is listed as a company within the digital utility market report. The article does not provide specific sentiment or analysis regarding Cognizant's performance or prospects in this sector.

Digital Utility Industry Report 2026-2035, Profiles of ABB, Accenture, Capgemini, Cisco, Cognizant, Eaton, GE, Honeywell, IBM, Itron, Microsoft, Oracle, SAP, Schneider Electric, Siemens, Toshiba Dublin, March 03, 2026 (GLOBE NEWSWIRE) -- The "Digital Utility Market Till 2035: Distribution by Type of Component, Type of Deployment, Type of Network, Areas of Application, Type of Technology, Type of End-User, Company Size, and Key Geographical Regions: Industry Trends and Global Forecasts" report has been added to ResearchAndMarkets.com's offering.

The global digital utility market size is estimated to grow from USD 227.85 billion in the current year USD 654.68 billion by 2035, at a CAGR of 11.13% during the forecast period, till 2035

Digital utility refers to the incorporation of cutting-edge technologies, data analytics, and communication systems into conventional utility frameworks to enhance efficiency, dependability, and sustainability. Within the sectors of electricity, water, and gas, digital utility solutions employ smart meters, sensors, and Internet of Things (IoT) devices to gather real-time data on usage trends and grid operations. This wealth of data enables utilities to improve resource management, swiftly detect issues, and respond more adeptly to variations in demand.

The utility industry is progressively adopting innovative digital technologies, such as blockchain, artificial intelligence (AI), and machine learning, to improve their operations, customer interactions, and partnerships within the supply chain. These digital approaches allow users to manage energy production and distribution more efficiently, providing capabilities like predictive maintenance along with increased safety and efficiency, which ultimately enhances customer satisfaction.

The expansion of this sector is fueled by factors including the growth of renewable energy initiatives and mandates focused on energy efficiency. Furthermore, the pressing need for green energy and swift advancements are driving this momentum.

Digital Utility Market: Key Segments

Market Share by Type of Component

Based on type of component, the global digital utility market is segmented into hardware, services and software. According to our estimates, currently, the hardware segment captures the majority of the market share. This can be attributed to the widespread adoption of smart meters, transformers, and other advanced equipment that are crucial for digital utility solutions.

However, the services segment is expected to grow at a higher CAGR during the forecast period. This increase is driven by improvements in data extraction and analytics for better customer management, as well as a rising consumer preference for renewable energy options and sustainable practices from utility providers.

Market Share by Type of Deployment

Based on type of deployment, the global digital utility market is segmented into cloud, hybrid and on-premises. According to our estimates, currently, the on-premises segment captures the majority of the market share. This can be attributed to its established infrastructure and the control it provides utilities over their operations and data security. However, the cloud deployment segment is expected to grow at a higher CAGR during the forecast period. This increase is due to the widespread adoption of cloud deployment for its scalability, flexibility, and cost-effectiveness in managing digital utility functions.

Market Share by Type of Network

Based on type of network, the global digital utility market is segmented into energy storage, energy trading, power generation, retail, transmission & distribution. According to our estimates, currently, the transmission & distribution segment captures the majority of the market share. This growth is largely due to the substantial investments necessary to upgrade outdated infrastructure and enhance the efficiency of electricity delivery systems.

However, the retail segment is expected to grow at a higher CAGR during the forecast period. This increase is driven by heightened consumer awareness regarding environmental issues and an increasing demand for renewable energy alternatives.

Market Share by Area of Application

Based on area of application, the global digital utility market is segmented into asset management, smart grid and smart meeting. According to our estimates, currently, the smart grid segment captures the majority of the market share. This increase can be attributed to the essential function the smart grid sector serves in upgrading energy infrastructure and enhancing both the efficiency and reliability of electricity distribution. However, the smart metering sector is expected to grow at a higher CAGR during the forecast period. This growth is linked to the increasing demand for precise billing, improved customer engagement, and more effective energy management solutions.

Market Share by Type of Technology

Based on type of technology, the global digital utility market is segmented into artificial intelligence (AI), big data analytics, and the internet of things (IoT). According to our estimates, currently, the artificial intelligence (AI) segment captures the majority of the market share. This growth can be attributed to its capacity to boost operational efficiency, enhance predictive maintenance, and support data-driven decision-making among utility providers.

However, the internet of things (IoT) segment is expected to grow at a higher CAGR during the forecast period. This increase is linked to the rising number of connected devices and sensors that enable real-time monitoring and management of energy resources.

Market Share by Type of End User

Based on type of end user, the global digital utility market is segmented into commercial, residential and retail. According to our estimates, currently, the commercial segment captures the majority of the market share. This increase can be attributed to the rising adoption of digital utility solutions by businesses aiming to boost operational efficiency and lower energy expenses.

However, the retail segment is expected to grow at a higher CAGR during the forecast period. This increase is linked to the increasing dependence on data analytics to gain deeper insights into customer behaviors and preferences. By employing digital utility solutions, retailers can enhance their energy management strategies, resulting in reduced costs and improved customer satisfaction.

Market Share by Company Size

Based on company size, the global digital utility market is segmented into large and small and medium enterprise. According to our estimates, currently, the large enterprise segment captures the majority of the market share. Meanwhile, the small and medium enterprise segments is expected to grow at a higher CAGR during the forecast period. This growth can be attributed to their adaptability, innovation, focus on specialized markets, and capacity to respond to evolving customer needs and market dynamics.

Market Share by Geographical Regions

Based on geographical regions, the digital utility market is segmented into North America, Europe, Asia, Latin America, Middle East and North Africa, and the rest of the world. According to our estimates, currently North America captures the majority share of the market, owing to the region's advanced technological infrastructure, early integration of smart grid solutions, and strong initiatives toward grid modernization.

Key Questions Answered in this Report

Company Profiles

Scope of the Report

Type of Component

Type of Deployment

Type of Network

Areas of Application

Type of Technology

Type of End-User

Company Size

Geographical Regions

Additional Benefits

For more information about this report visit https://www.researchandmarkets.com/r/vxmivs

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