HOME Research Insight General Electric Company (U.S.) and Accenture plc (Ireland) are the Key Players in the Digital Utility Market



General Electric Company (U.S.) and Accenture plc (Ireland) are the Key Players in the Digital Utility Market


Global digital utility market is projected to grow at a CAGR of 12.57%, from 2017 to 2022. North American market held the largest share in 2016 followed by the markets in Europe and Asia-Pacific. However, by 2022, the market in Asia-Pacific is projected to gain the largest share. Digital utility market growth is driven by strict regulatory requirements for electric utilities, energy efficiency mandates demanding carbon emission reduction, and increase in the number of distributed and renewable power generation projects.

Digital utility market is dominated by a few global players including key systems integrators Accenture plc (Ireland), Cognizant Technology Solutions Corporation (U.S.), and Cap Gemini S.A. (France). The major automation and integrated solutions providers include ABB Ltd (Switzerland), Siemens AG (Germany), and General Electric Company (U.S.). The main players offering cloud platforms include SAP SE (Germany), International Business Machines Corporation (U.S.), and Oracle Corporation (U.S.).

Major growth strategies adopted by the key players in the digital utility market in the period 2013 – 2017 (June) include new contracts & agreements, new product launches, facility expansions, and mergers & acquisitions of which contracts & agreements was the most adopted. The second most preferred growth strategy was mergers & acquisitions which include acquisition of Davies Consulting LLC (U.S.), by Accenture plc in 2017.

General Electric Company (U.S.) is one among the largest infrastructure and financial services companies in the world. It operates through eight major business segments, namely, power and water, oil & gas, energy management, aviation, healthcare, transportation, appliances and lighting, and capital. GE provides asset performance management, operations optimization, and business optimization solutions for utilities. In 2016, the company acquired four companies, namely, Wise.io, Inc. (U.S.), ServiceMax (U.S.), Bit Stew Systems Inc. (Canada), and Meredium, Inc. (U.S.) to further enhance and expand its digital capabilities.

Accenture plc (Ireland) is a leading global professional services company, providing comprehensive services and solutions in the strategy, digital, consulting, technology, and operations sectors. With respect to the digital utility market, it delivers superior management and technology consulting, systems integration, and managed services capabilities to its customers in the smart grid sector to enhance their grid operations and improve energy efficiency. Accenture focuses on aggressive growth strategies to expand and deliver professional services. For instance, the acquisition of Davies Consulting LLC (U.S.), in March 2017, helped Accenture strengthen its utility business by providing innovative asset management solutions.

SAP SE (Germany) and is a leading provider of enterprise business software. It is a leading player in the digital utility market, offering utilities-based customer information systems through the SAP HANA platform. In March 2017, SAP and Siemens AG (Germany) collaborated to address multiple digital business scenarios for energy and utilities clients worldwide. In 2016, the company strengthened its R&D by expanding its SAP Innovation Center locations in India, Israel, and the U.S. It also follows an aggressive market expansion strategy through mergers & acquisitions.

Related Reports:

Digital Utility Market by Network (Generation, Transmission and Distribution, and Retail), Technology (Hardware and Integrated Solutions (Cloud and Software, Services)), and Region (North America, Europe, and Asia-Pacific) - Global Forecast to 2022

Contact:
Mr. Rohan
MarketsandMarkets™ INC. 
630 Dundee Road 
Suite 430 
Northbrook, IL 60062 
USA : 1-888-600-6441 
sales@marketsandmarkets.com

Connect Us

Follow us on LinkedIn  Follow us on Facebook   Follow us on Twitter 
Live Chat Support


US : 1-888-600-6441

Search reports