Digital Power Utilities Industry Report 2025, Featuring Microsoft, Siemens, General Electric, Accenture, IBM & More - Global Market to Grow from $111 Billion in 2025 to $230 Billion by 2029

Core Insights - The digital power utility market is projected to grow from $92.43 billion in 2024 to $110.98 billion in 2025, reflecting a compound annual growth rate (CAGR) of 20.1% [2][14] - By 2029, the market size is expected to reach $230.16 billion, maintaining a CAGR of 20% during the forecast period [6][14] - Key drivers for this growth include increasing industrialization, urbanization, and the rising demand for renewable energy sources [6][8] Market Characteristics - The report covers market characteristics, size, growth, segmentation, regional breakdowns, competitive landscape, market shares, trends, and strategies [3] - North America was the largest region in the digital power utility market in 2024, while Asia-Pacific is anticipated to be the fastest-growing region in the forecast period [3] Major Trends - Significant trends include the digitalization of power plants, technological advancements, and increased demand for renewable energy solutions [7] - The European Commission reported that renewable energy consumption in the EU rose to 23% in 2022, up from 21.9% in 2021, indicating a growing focus on renewable energy [8] Key Companies - Major companies in the digital power utility market include Microsoft Corporation, Siemens AG, General Electric Company, Accenture PLC, and IBM [4][18] - Companies are developing innovative solutions like GridOS to enhance electricity grid security and operations [9][10] Report Scope - The report includes market segmentation by type (hardware and software services), sector (power generation, transmission and distribution, energy storage, energy trading), and organization size [11] - It covers various countries and regions, including Australia, Brazil, China, and the USA, with a time series of five years historic and ten years forecast [11]