Digital Utility Market 2030: Harnessing the Power of AI and IoT
Digital Utility Market Growth & Trends The global digital utility market size is anticipated to reach USD 396.36 billion by 2030, according to a new report by Grand View Research, Inc. The market is projected to grow at a CAGR of 10.0% from 2024 to 2030. Technological advancements are leading to the digitalization of businesses, including the power industry. The power industry is increasingly realizing the importance of digital technologies, which in turn is anticipated to augment the market over the forecast period. Companies have recognized the benefits of digitalization and are now focusing on two key areas, namely customer engagement and improvement of operations and productivity, thus transforming the way businesses are conducted in the power industry. The growth of the digital utility market is driven by factors such as stringent regulatory norms and an increasing number of distributed and renewable power generation projects. The demand for digital u...