Updated Top 10 Utility Industry Trends
Image courtesy of Jonathan Cutrer under Attribution-NonCommercial 2.0 Generic Deed, resized to 700 x 391 pixels.
I stumbled onto an interesting piece of data-driven research from SmartUS Insights that identified the top 10 utility industry trends (updated) currently facing leaders and decision makers across the globe in 2025. Although the start of each new year is typically when research like this is published, this particular piece was released in April 2025. And because it is interactive and extremely detailed, I thought I would highlight it for today’s blog post.
Top 10 Utility Industry Trends in 2025 and Beyond
What follows is an abbreviated list of the top 10 utility industry trends identified in the report. Click here if you want to read the full report.
- Clean energy: The worldwide renewable energy market exceeded $1.48 billion in 2024 and is expected to more than quadruple to just over $7 billion by 2034.
- Decentralized utility strategies: The worldwide decentralized power generation market is forecast to nearly double from $52.75 billion in 2025 to $102.78 billion by 2034.
- Energy storage growth: The worldwide energy storage market is expected to more than double from $58.41 billion in 2025 to $14 billion in just 5 years.
- The rise of IoT devices: This category, which encompasses smart devices such as smart meters, AI, electric vehicles (EVs), and similar technologies, is expected to increase from just over $47 billion to $153 billion in just 5 years.
- The rise of generative AI: This category encompasses real-time optimization, demand forecasting, and scenario simulation techniques designed to enhance grid management, and is expected to explode from $713 million to $13.3 billion in 10 years.
- Decarbonization: The worldwide decarbonization market should increase from $2 trillion in 2024 to over $3 trillion by 2030.
- Digital twinning: Digital twins are utilized to simulate the grid in real time for load flow analyses, renewable energy integration, and contingency planning, and is forecast to reach a market size of $1.6 billion in 2023 to $4.8 billion in 2030.
- Advanced nuclear technology: The worldwide market for nuclear fusion technology is expected to double from $460k in 2023 to just under $1 million in 2033.
- Optimization of the customer experience: The category, which encompasses personalized communication and other tactics to enhance the customer experience, is expected to double in size from $1.37 billion in 2024 to $2.86 billion in 7 years.
- Grid modernization: The smart grid market is expected to grow from $73.85 billion in 2024 to $161.15 billion in 5 years.
Well, there you have it – the top 10 utility trends in 2025 as identified by SmartUS Insights. Hope you enjoyed the list!
