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Digital Power Utility Market Size to Worth Around USD 239.38 Billion by 2028: Fortune Business Insights

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Pune, India, Sept. 27, 2022 (GLOBE NEWSWIRE) — The global digital power utility market to depict 23.4% CAGR from 2021 to 2028; North America to witness investments in smart buildings. According to the study, an increased focus on sustainability and environmentally friendly energy portfolios will act as a catalyst towards robust growth. Amidst prevailing challenges stemming from transmission & distribution and power generation processes, digital power solutions are expected to be sought-after globally. However, the COVID-19 pandemic could change the global dynamics.

Digital Power Utility Companies analyzed in report are ABB (Switzerland), General Electric Company (U.S.), Siemens (Germany), Accenture Plc (Ireland), Capgemini Ltd (France), SAP SE (Germany), IBM Corporation (U.S.), Microsoft Corporation (U.S.), Oracle Corporation (U.S.), Wipro Ltd (India), Infosys Ltd (India), and Cognizant Technology Solutions (U.S.).

Request a Sample Copy of the Research Report: https://www.fortunebusinessinsights.com/enquiry/sample/digital-power-utility-market-100959

Report Highlights:

Report Coverage Details
Forecast Period 2021-2028
Forecast Period 2021 to 2028 CAGR 23.4%
2028 Value Projection USD 239.38 billion
Base Year 2020
Market Size in 2021 USD 55.02 billion
Historical Data for 2017-2019
No. of Pages 180
Segments covered By Technology, By Sector, and By Region
Growth Drivers Soaring Demand for Energy, Investments in Renewable Projects to Boost RoI
Dip in Industrial Demand Dents Growth Prospect

Global Digital Power Utility Market Highlights:

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Market Drivers and Restraints-

Soaring Demand for Energy, Investments in Renewable Projects to Boost RoI

Digital power utility market share will gain traction from burgeoning industrialization and urbanization across advanced- and emerging economies. The U.N. predicts around 68% of the global population to live in urban areas by 2050. Stakeholders expect substantial investments in renewable energy at a time when electricity demand has peaked dramatically. According to the U.S. Energy Information Administration (EIA), renewable energy would contribute close to 50% towards global electricity output by 2050. Moreover, growth in renewable energy projects, as well as robust government policies, will augur well for the business outlook.

However, soaring operating costs for transmission and distribution infrastructure could dent the market growth.

Digital Power Utility Industry Developments:

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September 2021 –Infosys and Microsoft entered into multi-year agreement with Ausgrid to expedite the cloud transformation of the largest electricity distributor on Australia east coast.

March 2021 – The Swiss multinational corporation ABB Ltd reached the cumulative 5- gigawatt mark in providing Programmable Logic Controller based (PLC) solar plant automation solution in India.

Digital Power Utility Market COVID-19 Impact:

Dip in Industrial Demand Dents Growth Prospect

Supply chain disruptions across emerging and advanced economies had a notable influence on the global business outlook. While 2020 and 2021 witnessed fluctuation in demand and supply, the next few years could unlock growth opportunities. Renewable energy projects could pick pace amidst reduced demand for power plants. Leading companies are expected to up their investments across power plant sectors.

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To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit: https://www.fortunebusinessinsights.com/industry-reports/digital-power-utility-market-100959

Report Coverage:

The report is prepared rigorously with the use of qualitative and quantitative analysis. The use of primary sources, including interviews of stakeholders and suppliers, has propelled the integrity of the report. The report also includes secondary sources, including annual reports, SEC filings and studies published by notable organizations. The report also includes top-down and bottom-up approaches to boost estimations and product mapping

Digital Power Utility Market Segmentation:

In terms of technology, the digital power utility market is segregated into software & service and hardware.

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Based on sector, the market is segmented into power generation, power consumption and transmission & distribution. With resp ect to geography, the market is fragmented into North America, Asia Pacific, Europe, Latin America and the Middle East and Africa. 

Digital Power Utility Market Regional Insights:

North America to Provide Lucrative Growth Opportunities with the Trend for Smart Buildings

The rising trend for intelligent buildings and building automation across the U.S. and Canada will boost North America digital power utility market growth. The installation of sensors and smart metering is likely to be noticeable in the ensuing period. Additionally, robust government policies will bolster the penetration of smart solutions. Prominently, investments to expand smart cities and electric vehicles will add fillip to the regional growth.

Stakeholders envisage Asia Pacific to emerge as a happy hunting ground in the wake of surging investments in infrastructure development. Commercial and industrial projects are expected to be pronounced across China, India and Japan. Governments are expected to invest in green building models and renewables.

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The Middle East and Africa industry forecast will be bullish during the assessment period, mainly due to investments in augmented data analytics integrated distributed energy resource (iDER). Key industry players could infuse funds into smart grids and artificial intelligence in UAE, Saudi Arabia and South Africa to tap lucrative markets.

Digital Power Utility Market Competitive Landscape

Stakeholders Invest in Strategic Engagement to Gain a Competitive Edge

Industry players are poised to infuse funds into mergers & acquisitions, R&D activities and technological advancements. The competitiveness of the market indicates leading players could invest in geographical expansion and product portfolio expansion.

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Scope of the Report:

  • Introduction
      • Research Scope
      • Market Segmentation
      • Research Methodology
      • Definitions and Assumptions
  • Executive Summary
  • Market Dynamics
      • Market Drivers
      • Market Restraints
      • Market Opportunities
  • Key Insights
      • Key Emerging Trends – For Major Countries
      • Latest Technological Advancements
      • Regulatory Landscape
      • Industry SWOT Analysis
      • Porters Five Forces Analysis
  • Qualitative Analysis – Impact of COVID-19
      • Impact of COVID-19 on the Digital Power Utility Market
      • Steps Taken by the Government to Overcome the Impact
      • Key Developments by the Industry Players in Response to COVID-19
      • Potential Opportunities and Challenges due to COVID-19 Outbreak
  • Global Digital Power Utility Market Analysis (USD Billion), Insights and Forecast, 2017-2028
      • Key Findings / Summary
      • Market Analysis, Insights and Forecast – By Technology
        • Hardware
        • Software & Services
      • Market Analysis, Insights and Forecast – By Sector
        • Power Generation
        • Transmission & Distribution
        • Power Consumption
      • Market Analysis, Insights and Forecast – By Region
        • North America
        • Europe
        • Asia Pacific
        • Latin America
        • Middle East & Africa

Have Any Query? Ask Our Experts: https://www.fortunebusinessinsights.com/enquiry/queries/digital-power-utility-market-100959

About Us:

Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.

Contact Us:

Fortune Business Insights™ Pvt. Ltd.

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Phone:

US :+1 424 253 0390

UK : +44 2071 939123

APAC : +91 744 740 1245

Email: [email protected]

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GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Artificial Intelligence

Altair Announces Material Collaboration with HP Inc.

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HP data will bolster Altair® Material Data Center™ bridging gap between design and production of 3D-printed parts
TROY, Mich., June 24, 2024 /PRNewswire/ — Altair (Nasdaq: ALTR), a global leader in computational intelligence, has signed an agreement with HP Inc. in which HP will provide Altair with proprietary material information that will bolster the Altair® Material Data Center™, which enables designers, engineers, and scientists to browse, search, and compare materials in a standalone application or through the interface of their simulation and optimization tools. The collaboration will help break down traditional barriers to 3D printing adoption and ultimately help customers better design parts for Multi Jet Fusion and Metal Jet printers.

“Collaborating with HP will empower our customers to overcome the common challenge of access to accurate material property data, that often hinders the design and production of 3D-printed parts,” said Yeshwant Mummaneni, chief engineer, data management and analytics, Altair. “3D printing solutions are providing new and unique opportunities for businesses and industries of all sizes around the world – we are thrilled to continue providing best-in-class solutions and databases that help more people benefit from the technology and its adoption.”
The collaboration between Altair and HP bridges the often-siloed functions of the design and production of 3D-printed parts. As a result of the partnership, engineers with access to the Altair Material Data Center will be able to use HP material data to design efficient parts, conduct structural analysis using finite element analysis (FEA), and predict and fix manufacturing defects during design and simulation.
“3D printing is at the forefront of so many next-generation opportunities – we are delighted to reinforce Altair’s robust databases and solutions with our library of material information,” said Arvind Rangarajan, global head, software and data, personalization, and 3D printing, HP. “Partnering with a technological leader like Altair will help organizations worldwide develop better products, shorten timelines, and minimize the prototyping process to reduce waste.”
The collaboration will also benefit users of Altair® Inspire™ Print3D, which accelerates the creation, optimization, and study of innovative, structurally efficient additively manufactured parts by providing a fast and accurate toolset for the design and process simulation of parts made by metal binder jetting.
To learn more, visit Altair in booth #800 at RAPID + TCT June 25-27 or visit https://materials.altairone.com/page/landing to register for free access to the Altair Material Data Center.
About Altair
Altair is a global leader in computational intelligence that provides software and cloud solutions in simulation, high-performance computing (HPC), data analytics, and AI. Altair enables organizations across all industries to compete more effectively and drive smarter decisions in an increasingly connected world – all while creating a greener, more sustainable future. To learn more, please visit www.altair.com.
Media contacts
Altair Corporate
Altair Investor Relations
Bridget Hagan
Stephen Palmtag
+1.216.769.2658
+1.669.328.9111
[email protected]
[email protected]
Altair Europe/The Middle East/Africa
Charlotte Hartmann
+49 7031 6208 0
[email protected]
 
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Logo – https://mma.prnewswire.com/media/1421069/Altair_Logo.jpg

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Artificial Intelligence

FX Veteran John Bogue Joins ATFX as Director of Institutional Operation

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LONDON, June 24, 2024 /PRNewswire/ — ATFX, a leading global online trading broker, is pleased to announce the appointment of John Bogue as the Director of Institutional Operation. With over 30 years of experience in the FX market, John brings invaluable expertise in trading, prime brokerage, and e-brokerage to ATFX.

John’s extensive background includes significant roles at NatWest Markets Plc and Euronext FX Inc., formerly FastMatch. His deep understanding and seasoned oversight have been honed through his exposure to all facets of the FX asset class, including operations, risk management, and sales functions.
John’s prior position was as Director for EMEA FX at TraderTools. He was instrumental in rolling out their PriceOn™ algo offering across Europe, the Middle East, and Africa. His work significantly enhanced the technology’s penetration among banks and brokers within these regions.
“We are thrilled to welcome John Bogue to our team,” said Joe Li, Chairman at ATFX. “John’s relentless focus on accuracy, clarity, and prioritization of clients and team will be immensely beneficial as we continue expanding our capabilities and services.”
This recruitment is a strategic step for ATFX after their recent integration of PriceOn™ from TraderTools. With AI technology and algorithms, ATFX can optimize liquidity flow and provide top-notch services for institutional and retail clients. Competitive pricing accelerates global business growth and meets clients’ dynamic needs worldwide.
With the addition of John Bogue and ATFX’s recent hires of FX industry masters Drew Niv as the Chief Strategic Officer, Siju Daniel as the Chief Commercial Officer, Hormoz Faryar as Managing Director of Institutional, and Aditya Singh as Business Development Director International, this reaffirms ATFX’s commitment to long-term success and solidifies its position as a dominant player in the global financial marketplace.
About ATFXATFX is a leading global fintech broker with a local presence in 23 locations and licenses from regulatory authorities, including the UK’s FCA, Cypriot CySEC, UAE’s SCA, Australian ASIC, and South African FSCA. With a strong commitment to customer satisfaction, innovative technology, and strict regulatory compliance, ATFX provides exceptional trading experiences to clients worldwide.
For further information on ATFX, please visit the ATFX website: https://www.atfx.com. 
Photo – https://mma.prnewswire.com/media/2444530/IMG_John_Bogue.jpg

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Artlist Revolutionizes Video Creation with an Innovative AI Voiceover Feature

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Artlist becomes first creative asset platform to offer an in-product AI voice generator, unveiling an exclusive voice catalog
TEL AVIV, Israel, June 24, 2024 /PRNewswire/ — Artlist, a creative technology company that provides a vast catalog of royalty-free digital assets to empower brands and content creators worldwide, today announced its latest offering — an in-product AI voiceover generator for video creators. This groundbreaking feature marks a new era in content creation and another significant step in Artlist’s mission to empower brands and creators with everything they need to create videos in one place. The AI voiceover generator feature is included in the Artlist Max plan, offering even more value for the same price, and as a stand-alone plan.

To view the Multimedia News Release, please click:  https://www.multivu.com/players/uk/9276151-artlist-video-creation-innovative-ai-voiceover/
Artlist’s AI voice generator feature seamlessly integrates into existing workflows alongside Artlist’s music, sound effects, footage, and template offering. By eliminating the need for external voiceover services, brands and creators can save valuable time and resources, accelerating content creation and unlocking new storytelling possibilities.
“We’re excited to introduce the AI voiceover generator to our platform,” says Itzik Elbaz, Co-Founder and Co-CEO of Artlist. “This new feature will enhance the ability of brands and creators to craft immersive narratives and bring their visions to life with unmatched clarity and emotion. Whether you’re a high-end production company, an in-house creative team, or an emerging content creator, Artlist provides the tools you need to succeed in today’s competitive creator economy all in one place.”
Artlist’s voiceover feature represents a significant breakthrough in content creation, providing creators with unparalleled access to a unique, high-quality voice catalog crafted by top-tier artists. Creators can now enrich their videos with professional-grade narrations, elevating the quality of their content and captivating audiences like never before with an array of exclusive voices at their fingertips.
“We developed a catalog of exclusive voices with a goal of democratizing access to high-quality narrations, to enable brands and creators to enhance their videos with professional-grade voiceovers,” said Roee Peled, Chief Product Officer of Artlist. “By leveraging advanced AI and speech synthesis technologies, we can make it easier and more cost-effective for brands and creators to produce engaging voiceovers at scale.”
AI voiceover technology is rapidly transforming, offering increased efficiency, cost savings, and creative flexibility for content creators. This surge in popularity has led businesses and creators to recognize its potential to improve engagement and convey messages effectively. From promotional videos to tutorials and beyond, AI voiceover generator offers an efficient solution for capturing audience attention and driving results.
About Artlist 
Artlist is a leading creative technology company empowering global brands and individual creators with an extensive catalog of over 2.5 million high-quality, royalty-free digital creative assets, including music, sound effects, footage, templates, and plugins, made by award-winning artists. The company has over 26M users, including top-tier global brands like Google, Amazon, Microsoft, and Calvin Klein, who trust Artlist as a complete solution for video creation. With a simple global license and unlimited usage, Artlist’s mission is to enable creativity without limits through Artlist, its all-in-one video creation platform, and the Motion Array catalog for content creators. Artlist has been recognized as a top startup by Wired and LinkedIn. Founded in 2016, it has continued to revolutionize the creative industry by offering exclusive assets under a subscription-based model. For more information, please visit www.artlist.io.
Contact: Ravit Shimony, PR and Communications Manager at Artlist, [email protected]
Video – https://www.youtube.com/watch?v=16ggAKMeCsk&ab_channel=Artlist
 
 

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