Computer-Based Utility Market is driven by increasing number of renewable power generation project
According to new report published by Reports Monitor titled, “ Computer Based Utility Market: Global Market Synopsis, Growth Factors, Industry Segmentation, Regional Analysis And Competitive Analysis 2017 - 2025,” Computer Based Utility was valued at XX million in 2016, and is projected to reach at XX million by 2025, growing at CAGR of XX% from2017 to 2025.
Digital utilities provide new ways to help employees how to work smarter therefore they can do their operations more effectively and deliver better services to customers. Computer based digital Utilities are emphasizing on better ways to make relationship with customers and delight them for lifetime. Digital utility are offering the solutions how to solve traditional customer issues such as unsatisfied customer service, high cost to serve and inaccurate billing.
Australia’s leading energy based utility company AGL is providing around 3.5 million customers with electricity and gas services. AGL found unique ways to compete in the market with competitors and sought different ways to sell new services and products and how to reduce customer turnover. AGL tied up with cloud-based platform operating on Microsoft Azure that works upon customer online engagement to assure better online customer experience which resulted in an around 29% increase in AGL mobile conversions and approx. 47% increase in per page click on web pages regarding AGL energy utility based management plans.
On the basis of network, the market is segmented into generation, transmission and distribution and retail. On the basis of technology, the market is segmented into hardware and integrated solutions. Integrated solution is further is sub-segmented into services and cloud and software.
Digital utility market is driven by factors such as which include rising number of renewable power generation projects and strict regulatory norms. The demand for digital utility market is rising globally due to the fact that there are several benefits provided by digital utility technologies such as management of digital asset, digital utility enterprise architecture and digital utility maturity. However, there are several factors which will hinder the growth of the market which include funds needed to kick start the project of digital utility technologies; cyber security will be a threat to digital utilities digitalizing their application in the market.
Geographically, the market is segmented into North America, Europe, Asia-Pacific and LAMEA. North America holds the largest market share of digital utility market followed by Europe. Growing investment in electric infrastructure, high demand for electricity, rising need of up-gradation of electric infrastructure are the leading factor that are driving the demand in this region.
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