ICT in the Utilities Sector: Market Opportunity Forecasts to 2029
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This model provides historical data and forecasts for ICT products and services in the Utilities Sector
The global utilities sector ICT market was valued at US$ 145.96 billion in 2024 and will grow at a compounded annual growth rate (CAGR) of 12.97% to reach US$ 268.59 billion by 2029. The cumulative revenue generation for ICT in the utilities sector is estimated at US$ 1,188.90 billion for 2024-2029.The Asia Pacific region dominated the utilities ICT market with a revenue share of 35.0% in 2024. Undoubtedly, Japan was the major contributor to the utilities sector ICT market growth in this region.
Scope
This product provides revenue opportunity forecasts for ICT products and services in the Utilities sector from 2020 to 2029, spanning 18 IT Solutions, 128 Products/Services, 6 regions, and 59 geographies. The details of the IT solutions and the corresponding Products/Services has been provided.
Key Highlights
- The global ICT in the Utilities sector market is expected to grow at a CAGR of 62% during the forecast period.
- The sector’s top three product/service categories – IoT Hardware, IoT Software and SaaS.
- Asia-Pacific is expected to be the highest regional contributor with a market share of 33.0%, in the global ICT market in the Utilities sector, during the forecast period. Western Europe and North America will follow with market shares of 21.6% and 5%, respectively. The Central and Eastern Europe, Middle East Africa, and South and Central America together are expected to account for the remaining market share of 27.8%.
- IoT Hardware is expected to be the leading product/service segment of the ICT in the Utilities sector market during the forecast period.
Reasons to Buy
Access the current state and 5-year growth of ICT in the Utilities sector, along with historical trends, to identify fastest-growing products/services, most lucrative IT solutions, key geographies, and forward-looking enterprise investment strategies for profitable opportunities.
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