South America Digital Power Utility Market: Regional Industry Analysis and Forecast (2024-2030)

South America Digital Power Utility Market Definition:

The South America Digital Power Utility solution offers a real-time asset control solution via cloud and Internet of Things applications, which is advantageous to the power distributor. Also, it can give cloud-based solutions to speed up delivery while also enhancing the process's flexibility, security, and ability to store information. Further, the South America Digital Power Utility market is segmented by Technology, Sector, and country. On the basis of Technology, the South America Digital Power Utility market is segmented under Hardware, and Software & Service. Based on the Sector, the South America Digital Power Utility market is segmented under the channels of Power Generation, Transmission & Distribution and Power Consumption. By geography, the market covers the following Country: Brazil, Colombia, Venezuela, Chile Rest of South America. For each segment, the market sizing and forecasts have been done on the basis of value (in USD Billion).

 

 

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South America Digital Power Utility Market Dynamics:

Market Growth is Boosted by Increased Transmission and Distribution (T&D) Use.

 

Digital devices are being utilised more frequently in the power generation, transmission, and distribution industries to increase plant productivity, dependability, and protection. Smart metres, sensors, and smart grids are digital devices that give consumers and companies a more accurate and timely accounting of their energy use. Power generating and distribution systems benefit from these technologies' increased productivity, effectiveness, safety, enforcement, and dependability. As a result, quality and customer satisfaction increase, as well as asset management, planning, and execution.

 

Market growth can be hampered by the high cost of upgrading current infrastructure.

 

Leading stakeholders in the landscape are forecast to face difficulties due to the need for a substantial infusion of capital. India would need to invest between $60 and $80 billion over the next five years to upgrade its grid infrastructure, according to the MMR results. Globally, electric utilities forecast to invest USD 3.2 trillion on transmission and distribution infrastructure that is both new and replaced. The market would be stymied since a substantial investment would be required for the digital transformation or improvement of current infrastructure. The modernization of current infrastructures and improvements in the effectiveness of electricity distribution systems, however, are supporting the growth of the digital power utility sector.

 

The Risk of Cyberattack.

 

In South America, there is a major backlash against gas and electric service. In South America and the Caribbean, cyberattacks against energy power facilities "may become the most serious threat to any government due to the impact on the people and the physical damage of infrastructure in an extraordinarily large area.  The combined ownership of public and private enterprises for energy generation, transmission, and distribution also poses a significant problem for South American electric-power and gas corporations.

 

South America Digital Power Utility Market Segment Analysis:

By Technology, Hardware, software, and services make up the three technology segments. The hardware industry dominated the regional market as a result of investments in smart metering and EV charging. The utilities sector can gain from cutting-edge software solutions like AI, ML, and other digital technologies that are propelling the fast growth of the software and services market. Since automated systems require digital help to function efficiently, the market for software and services is growing as system automation trends rise.

 

By Sector, The three sector segments are power generation, transmission, and distribution, along with consumption. Because of the growing demand for energy from non-residential buildings and increased HVAC usage, the power consumption sector is forecast to dominate the local market. Because the digital utility solution enables users to effectively execute transmission and distribution tasks, the transmission and distribution sector is forecasted to grow at the fastest rate in the regional market.

 

South America Digital Power Utility Market Regional Insights:

In 2023, Middle East & Africa also holds a 9.1% share of the global market for digital power utilities and is expected to increase at a CAGR of 5.2% from 2024 to 2030. In order to support the growth of the market, the South American region is concentrating on growing its capacity for electricity transmission and distribution in a number of nations, including Brazil, Mexico, and Argentina.

 

The energy industry is going through a number of various changes that could reshape it over the course of the next few decades. The new generation sources (wind and solar) would have the greatest influence on system operators since they would cause daily fluctuation and lack of predictability to reach previously unheard-of levels. Wind power is becoming more and more important in Brazil, but it also increases the difficulty of coordinating a number of new, dispersed, decentralised facilities. Never before has matching supply and demand been so difficult. Digitalization is also altering how ONS operates to handle this complexity. Real-time simulations, automated systems, smart metres, remote controls, and other emerging technologies have improved their capacity to anticipate, monitor, and react to changes.

 

The equipment from GE's Grid Solutions was used in Colombia's first digital substation, which was recently unveiled by the country's energy utility Enel-Codensa. The operation of energy transmission is facilitated and autonomous decisions are made possible by the digital substation. Digital substations are a significant turning point for the electrical industry since they reflect the change from analogue to digital technology. Its advantages would also assist the community, distributing energy in a more dependable, sustainable, and accessible way for the daily lives of millions of people, taking into account the shorter installation periods as well as the power and quality of services.

 

South America Digital Power Utility Market Key Players Insights:

The market is characterized by the existence of a number of well-known firms. These companies control a large portion of the market, have a wide product portfolio, and have a regional presence. In addition, the market comprises small to mid-sized competitors that sell a limited variety of items, some of which are self-publishing organizations.

 

The market's major companies have a significant impact because most of them have extensive regional networks through which they can reach their massive client bases. To drive revenue growth and strengthen their positions in the regional market, key players in the market, particularly in North America and Europe, are focusing on strategic initiatives such as acquisitions, new collection launches, and partnerships.

 

The objective of the report is to present a comprehensive analysis of the South America Digital Power Utility market to the stakeholders in the industry. The report provides trends that are most dominant in the South America Digital Power Utility market and how these trends will influence new business investments and market development throughout the forecast period. The report also aids in the comprehension of the South America Digital Power Utility Market dynamics and competitive structure of the market by analyzing market leaders, market followers, and regional players.

 

The qualitative and quantitative data provided in the South America Digital Power Utility market report is to help understand which market segments, regions are expected to grow at higher rates, factors affecting the market, and key opportunity areas, which will drive the industry and market growth through the forecast period. The report also includes the competitive landscape of key players in the industry along with their recent developments in the South America Digital Power Utility market. The report studies factors such as company size, market share, market growth, revenue, production volume, and profits of the key players in the South America Digital Power Utility market.

 

The report provides Porter's Five Force Model, which helps in designing the business strategies in the market. The report helps in identifying how many rivals exist, who they are, and how their product quality is in the South America Digital Power Utility market. The report also analyses if the South America Digital Power Utility market is easy for a new player to gain a foothold in the market, do they enter or exit the market regularly, if the market is dominated by a few players, etc.

 

The report also includes a PESTEL Analysis, which aids in the development of company strategies. Political variables help in figuring out how much a government can influence the South America Digital Power Utility market. Economic variables aid in the analysis of economic performance drivers that have an impact on the South America Digital Power Utility market. Understanding the impact of the surrounding environment and the influence of environmental concerns on the South America Digital Power Utility market is aided by legal factors.

 

South America Digital Power Utility Market Scope:

South America Digital Power Utility Market
Market Size in 2023	USD 5.37 Bn.
Market Size in 2030	USD 7.66 Bn.
CAGR (2024-2030)	7 %
Historic Data	2018-2022
Base Year	2023
Forecast Period	2024-2030
Segment Scope	by Technology Hardware Software & Service
	by Product Power Generation Transmission & Distribution Power Consumption
	Country Scope		Brazil  Argentina  Rest of South America

 

South America Digital Power Utility Market Key Players: 

• GE (US)
• Mckinsey (US)
• IBM Corporation (U.S.)
• Microsoft Corporation (U.S.)
• Oracle Corporation (U.S.)