IoT in Utilities Market value is projected to reach US$ 101.34 billion at the end of the forecast period and it is expected to grow at the CAGR of 13.5%. The report covers the detailed analysis of the global IoT in the utility industry with the classifications of the market on the basis of component, technology, application, and region. Analysis of past market dynamics from 2022 to 2029 is given in the report, which will help readers to benchmark the past trends with current market scenarios with the key players' contribution in it.To know about the Research Methodology :- Request Free Sample Report The report has profiled major key players in the market from different regions. However, the report has considered all market leaders, followers, and new entrants with investors while analyzing the market and estimating the size of the same. The manufacturing environment in each region is different and focus is given on the regional impact on the cost of manufacturing, supply chain, availability of raw materials, labor cost, availability of advanced technology, trusted vendors are analyzed and the report has come up with recommendations for a future hot spot in North America region.
IoT in Utilities Market Dynamics
Increasing adoption of smart meters and smart grid to drive the market The global energy demand rose by 2.3% in 2022, which is the highest increase since 2010 due to the high adoption of smart devices is rising the electricity consumption across the globe. Global energy consumption is expected to grow by 48% by 2029. In recent time utilities are using smart meter reading to gain analytical understanding down to the substation level, feeder and last mile. Smart meters have become a preferred IoT device among utility service provider as it allows to track, forecast and plan the volatility of today’s energy consumption and production patterns. However, smart grid smart grids offer real-time data that can help utility providers to carry out demand-based power generation and distribution. With this approach, providers can distribute a utility based on consumption. Governments of different countries are moving towards smart meters to manage utilities and offer customer value-adding services such as direct usage feedback, flexible tariffs and smart home applications. As result, the increasing adoption of smart meters and smart grids is expected to drive the global IoT in the utilities market during the forecast period. The electricity grid management segment is expected to hold the largest market share of xx% by 2029. The electrical grid serves residents, business and infrastructure service for efficient management and delivery of power. Most utilities industries are held by the government, municipalities are adopting electric grid technology to improve electricity usage and provide better customer service to the citizens. Grid with IoT uses smart sensors, smart meters, smart receivers etc. for communication. With the smart meters, the service provider can discover real-time power demands with granularity and accuracy, which is simply not possible with older technology. The electrical grid helps to collect and analyze data that are acquired from transmission lines, distribution substations, and consumers, which allows the service provider to predict sudden increases in demand and how to best manage power.Regional Insights
North America is expected to witness the highest growth during the forecast period North America is expected to lead the IoT in the utility market during the forecast period due to the increased adoption of advanced technologies and connected devices in countries like the US and Canada. The energy consumption of the US is expected to rise by 43% by 2022. In the US there are 200,000 miles of high voltage transmission lines, which collectively carry more than one million megawatts of electricity in the country. As result, it increased demand for smart meters and smart grid for efficient management and delivery of power in the region, which is expected to boost the market in North America. Asia Pacific is expected to hold the largest market share of xx% by 2029. The large market share in the region is attributed to developing countries like India and China. The awareness of technological advancements and benefits of IoT led to adopt cutting-edge IoT solutions in utility industries in countries like India, China and GCC countries. However, other factors like government initiative to promote smart cities & smart buildings and the expansion of gas & electricity production facilities are expected to create many lucrative opportunities in the Asia Pacific. The objective of the report is to present a comprehensive analysis of the global IoT in the utilities market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SWOT, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding global IoT in utility market dynamics, structure by analyzing the market segments and project global IoT in utility market clear representation of competitive analysis of key players by price, financial position, by detection and equipment portfolio, growth strategies, and regional presence in the global IoT in utility market make the report investor’s guide.IoT in utility Market Scope: Inquire before buying
IoT in utility Market Report Coverage Details Base Year: 2022 Forecast Period: 2023-2029 Historical Data: 2018 to 2022 Market Size in 2022: US $ 41.76 Bn. Forecast Period 2023 to 2029 CAGR: 13.5% Market Size in 2029: US $ 101.34 Bn. Segments Covered: by Component Platform Solutions Asset Monitoring Management Safety and Security Supervisory Control and Data Acquisition (SCADA) Workforce Management Network Management Customer Information System (CIS) and Billing System Services Consulting Integration and Deployment Support and Maintenance by Technology Sensors RFID Connectivity Technology by Application Water and Wastewater Management Gas Management Electricity Grid Management by Region
North America (United States, Canada and Mexico) Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe) Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC) Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A) South America (Brazil, Argentina Rest of South America)IoT in Utilities Market Key Players
1. IBM 2. Oracle 3. Verizon 4. Cisco 5. Telit 6. Landis Gyr 7. Itron 8. Schneider Electric 9. Huawei 10. Trimble 11. Aclara 12. Trilliant 13. Energyworx 14. HCL 15. Altair 16. Actility 17. Waviot 18. Rayven 19. Saviant Consulting 20. ABB 21. Siemens 22. Honeywell 23. GE 24. GSMA 25. SAS 26. Comcast Corporation 27. Ericsson 28. Fujitsu 29. Sierra Wireless 30. AT&T 31. Sprint 32. Carina Technology 33. Hunt Power 34. Juniper Networks 35. Silicon Labs 36. Tantalus Systems 37. GridPoint Frequently Asked Questions: 1. Which region has the largest share in Global IoT in Utilities Market? Ans: Asia Pacific region held the highest share in 2022. 2. What is the growth rate of Global IoT in Utilities Market? Ans: The Global IoT in Utilities Market is growing at a CAGR of 13.5% during forecasting period 2023-2029. 3. What is scope of the Global IoT in Utilities market report? Ans: Global IoT in Utilities Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period. 4. Who are the key players in Global IoT in Utilities market? Ans: The important key players in the Global IoT in Utilities Market are – IBM, Oracle, Verizon, Cisco, Telit, Landis Gyr, Itron, Schneider Electric, Huawei, Trimble, Aclara, Trilliant, Energyworx, HCL, Altair, Actility, Waviot, and Rayven 5. What is the study period of this market? Ans: The Global IoT in Utilities Market is studied from 2022 to 2029.
1. Preface 1.1. Market Definition and Key Research Objectives 1.2. Research Highlights 2. Assumptions and Research Methodology 2.1. Report Assumptions 2.2. Abbreviations 2.3. Research Methodology 2.3.1. Secondary Research 2.3.1.1. Secondary data 2.3.1.2. Secondary Sources 2.3.2. Primary Research 2.3.2.1. Data from Primary Sources 2.3.2.2. Breakdown of Primary Sources 3. Executive Summary: Global IoT in Utilities Market Size, by Market Value (US$ Mn) 3.1. Global Market Segmentation 3.2. Global Market Segmentation Share Analysis, 2022 3.2.1. Global 3.2.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 3.3. Geographical Snapshot of the IoT in Utilities Market 3.4. Geographical Snapshot of the IoT in Utilities Market, By Manufacturer share 4. Global IoT in Utilities Market Overview, 2022-2029 4.1. Market Dynamics 4.1.1. Drivers 4.1.1.1. Global 4.1.1.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.2. Restraints 4.1.2.1. Global 4.1.2.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.3. Opportunities 4.1.3.1. Global 4.1.3.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.4. Challenges 4.1.4.1. Global 4.1.4.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.5. Industry Trends and Emerging Technologies 4.1.6. Porters Five Forces Analysis 4.1.6.1. Threat of New Entrants 4.1.6.2. Bargaining Power of Buyers/Consumers 4.1.6.3. Bargaining Power of Suppliers 4.1.6.4. Threat of Substitute Products 4.1.6.5. Intensity of Competitive Rivalry 4.1.7. Value Chain Analysis 4.1.8. Technological Roadmap 4.1.9. Regulatory landscape 4.1.10. Impact of the Covid-19 Pandemic on the Global IoT in Utilities Market 5. Supply Side and Demand Side Indicators 6. Global IoT in Utilities Market Analysis and Forecast, 2022-2029 6.1. Global IoT in Utilities Market Size & Y-o-Y Growth Analysis. 7. Global IoT in Utilities Market Analysis and Forecasts, 2022-2029 7.1. Market Size (Value) Estimates & Forecast By Component, 2022-2029 7.1.1. Platform 7.1.2. Solutions 7.1.2.1. Asset Monitoring Management 7.1.2.2. Safety and Security 7.1.2.3. Supervisory Control and Data Acquisition (SCADA) 7.1.2.4. Workforce Management 7.1.2.5. Network Management 7.1.2.6. Customer Information System (CIS) and Billing System 7.1.3. Services 7.1.3.1. Consulting 7.1.3.2. Integration and Deployment 7.1.3.3. Support and Maintenance 7.2. Market Size (Value) Estimates & Forecast By Technology, 2022-2029 7.2.1. Sensors 7.2.2. RFID 7.2.3. Connectivity Technology 7.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 7.3.1. Water and Wastewater Management 7.3.2. Gas Management 7.3.3. Electricity Grid Management 8. Global IoT in Utilities Market Analysis and Forecasts, By Region 8.1. Market Size (Value) Estimates & Forecast By Region, 2022-2029 8.1.1. North America 8.1.2. Europe 8.1.3. Asia-Pacific 8.1.4. Middle East & Africa 8.1.5. South America 9. North America IoT in Utilities Market Analysis and Forecasts, 2022-2029 9.1. Market Size (Value) Estimates & Forecast By Component, 2022-2029 9.1.1. Platform 9.1.2. Solutions 9.1.2.1. Asset Monitoring Management 9.1.2.2. Safety and Security 9.1.2.3. Supervisory Control and Data Acquisition (SCADA) 9.1.2.4. Workforce Management 9.1.2.5. Network Management 9.1.2.6. Customer Information System (CIS) and Billing System 9.1.3. Services 9.1.3.1. Consulting 9.1.3.2. Integration and Deployment 9.1.3.3. Support and Maintenance 9.2. Market Size (Value) Estimates & Forecast By Technology, 2022-2029 9.2.1. Sensors 9.2.2. RFID 9.2.3. Connectivity Technology 9.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 9.3.1. Water and Wastewater Management 9.3.2. Gas Management 9.3.3. Electricity Grid Management 10. North America IoT in Utilities Market Analysis and Forecasts, By Country 10.1. Market Size (Value) Estimates & Forecast By Country, 2022-2029 10.1.1. US 10.1.2. Canada 10.1.3. Mexico 11. U.S. IoT in Utilities Market Analysis and Forecasts, 2022-2029 11.1. Market Size (Value) Estimates & Forecast By Component, 2022-2029 11.2. Market Size (Value) Estimates & Forecast By Technology, 2022-2029 11.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 12. Canada IoT in Utilities Market Analysis and Forecasts, 2022-2029 12.1. Market Size (Value) Estimates & Forecast By Component, 2022-2029 12.2. Market Size (Value) Estimates & Forecast By Technology, 2022-2029 12.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 13. Mexico IoT in Utilities Market Analysis and Forecasts, 2022-2029 13.1. Market Size (Value) Estimates & Forecast By Component, 2022-2029 13.2. Market Size (Value) Estimates & Forecast By Technology, 2022-2029 13.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 14. Europe IoT in Utilities Market Analysis and Forecasts, 2022-2029 14.1. Market Size (Value) Estimates & Forecast By Component, 2022-2029 14.2. Market Size (Value) Estimates & Forecast By Technology, 2022-2029 14.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 15. Europe IoT in Utilities Market Analysis and Forecasts, By Country 15.1. Market Size (Value) Estimates & Forecast By Country, 2022-2029 15.1.1. U.K 15.1.2. France 15.1.3. Germany 15.1.4. Italy 15.1.5. Spain 15.1.6. Sweden 15.1.7. CIS Countries 15.1.8. Rest of Europe 16. U.K. IoT in Utilities Market Analysis and Forecasts, 2022-2029 16.1. Market Size (Value) Estimates & Forecast By Component, 2022-2029 16.2. Market Size (Value) Estimates & Forecast By Technology, 2022-2029 16.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 17. France IoT in Utilities Market Analysis and Forecasts, 2022-2029 17.1. Market Size (Value) Estimates & Forecast By Component, 2022-2029 17.2. Market Size (Value) Estimates & Forecast By Technology, 2022-2029 17.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 18. Germany IoT in Utilities Market Analysis and Forecasts, 2022-2029 18.1. Market Size (Value) Estimates & Forecast By Component, 2022-2029 18.2. Market Size (Value) Estimates & Forecast By Technology, 2022-2029 18.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 19. Italy IoT in Utilities Market Analysis and Forecasts, 2022-2029 19.1. Market Size (Value) Estimates & Forecast By Component, 2022-2029 19.2. Market Size (Value) Estimates & Forecast By Technology, 2022-2029 19.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 20. Spain IoT in Utilities Market Analysis and Forecasts, 2022-2029 20.1. Market Size (Value) Estimates & Forecast By Component, 2022-2029 20.2. Market Size (Value) Estimates & Forecast By Technology, 2022-2029 20.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 21. Sweden IoT in Utilities Market Analysis and Forecasts, 2022-2029 21.1. Market Size (Value) Estimates & Forecast By Component, 2022-2029 21.2. Market Size (Value) Estimates & Forecast By Technology, 2022-2029 21.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 22. CIS Countries IoT in Utilities Market Analysis and Forecasts, 2022-2029 22.1. Market Size (Value) Estimates & Forecast By Component, 2022-2029 22.2. Market Size (Value) Estimates & Forecast By Technology, 2022-2029 22.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 23. Rest of Europe IoT in Utilities Market Analysis and Forecasts, 2022-2029 23.1. Market Size (Value) Estimates & Forecast By Component, 2022-2029 23.2. Market Size (Value) Estimates & Forecast By Technology, 2022-2029 23.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 24. Asia Pacific IoT in Utilities Market Analysis and Forecasts, 2022-2029 24.1. Market Size (Value) Estimates & Forecast By Component, 2022-2029 24.2. Market Size (Value) Estimates & Forecast By Technology, 2022-2029 24.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 25. Asia Pacific IoT in Utilities Market Analysis and Forecasts, by Country 25.1. Market Size (Value) Estimates & Forecast By Country, 2022-2029 25.1.1. China 25.1.2. India 25.1.3. Japan 25.1.4. South Korea 25.1.5. Australia 25.1.6. ASEAN 25.1.7. Rest of Asia Pacific 26. China IoT in Utilities Market Analysis and Forecasts, 2022-2029 26.1. Market Size (Value) Estimates & Forecast By Component, 2022-2029 26.2. Market Size (Value) Estimates & Forecast By Technology, 2022-2029 26.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 27. India IoT in Utilities Market Analysis and Forecasts, 2022-2029 27.1. Market Size (Value) Estimates & Forecast By Component, 2022-2029 27.2. Market Size (Value) Estimates & Forecast By Technology, 2022-2029 27.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 28. Japan IoT in Utilities Market Analysis and Forecasts, 2022-2029 28.1. Market Size (Value) Estimates & Forecast By Component, 2022-2029 28.2. Market Size (Value) Estimates & Forecast By Technology, 2022-2029 28.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 29. South Korea IoT in Utilities Market Analysis and Forecasts, 2022-2029 29.1. Market Size (Value) Estimates & Forecast By Component, 2022-2029 29.2. Market Size (Value) Estimates & Forecast By Technology, 2022-2029 29.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 30. Australia IoT in Utilities Market Analysis and Forecasts, 2022-2029 30.1. Market Size (Value) Estimates & Forecast By Component, 2022-2029 30.2. Market Size (Value) Estimates & Forecast By Technology, 2022-2029 30.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 31. ASEAN IoT in Utilities Market Analysis and Forecasts, 2022-2029 31.1. Market Size (Value) Estimates & Forecast By Component, 2022-2029 31.2. Market Size (Value) Estimates & Forecast By Technology, 2022-2029 31.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 32. Rest of Asia Pacific IoT in Utilities Market Analysis and Forecasts, 2022-2029 32.1. Market Size (Value) Estimates & Forecast By Component, 2022-2029 32.2. Market Size (Value) Estimates & Forecast By Technology, 2022-2029 32.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 33. Middle East Africa IoT in Utilities Market Analysis and Forecasts, 2022-2029 33.1. Market Size (Value) Estimates & Forecast By Component, 2022-2029 33.2. Market Size (Value) Estimates & Forecast By Technology, 2022-2029 33.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 34. Middle East Africa IoT in Utilities Market Analysis and Forecasts, by Country 34.1. Market Size (Value) Estimates & Forecast by Country, 2022-2029 34.1.1. South Africa 34.1.2. GCC Countries 34.1.3. Egypt 34.1.4. Nigeria 34.1.5. Rest of ME&A 35. South Africa IoT in Utilities Market Analysis and Forecasts, 2022-2029 35.1. Market Size (Value) Estimates & Forecast By Component, 2022-2029 35.2. Market Size (Value) Estimates & Forecast By Technology, 2022-2029 35.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 36. GCC Countries IoT in Utilities Market Analysis and Forecasts, 2022-2029 36.1. Market Size (Value) Estimates & Forecast By Component, 2022-2029 36.2. Market Size (Value) Estimates & Forecast By Technology, 2022-2029 36.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 37. Egypt IoT in Utilities Market Analysis and Forecasts, 2022-2029 37.1. Market Size (Value) Estimates & Forecast By Component, 2022-2029 37.2. Market Size (Value) Estimates & Forecast By Technology, 2022-2029 37.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 38. Nigeria IoT in Utilities Market Analysis and Forecasts, 2022-2029 38.1. Market Size (Value) Estimates & Forecast By Component, 2022-2029 38.2. Market Size (Value) Estimates & Forecast By Technology, 2022-2029 38.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 39. Rest of ME&A IoT in Utilities Market Analysis and Forecasts, 2022-2029 39.1. Market Size (Value) Estimates & Forecast By Component, 2022-2029 39.2. Market Size (Value) Estimates & Forecast By Technology, 2022-2029 39.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 40. South America IoT in Utilities Market Analysis and Forecasts, 2022-2029 40.1. Market Size (Value) Estimates & Forecast By Component, 2022-2029 40.2. Market Size (Value) Estimates & Forecast By Technology, 2022-2029 40.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 41. South America IoT in Utilities Market Analysis and Forecasts, by Country 41.1. Market Size (Value) Estimates & Forecast by Country, 2022-2029 41.1.1. Brazil 41.1.2. Argentina 41.1.3. Rest of South America 42. Brazil IoT in Utilities Market Analysis and Forecasts, 2022-2029 42.1. Market Size (Value) Estimates & Forecast By Component, 2022-2029 42.2. Market Size (Value) Estimates & Forecast By Technology, 2022-2029 42.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 43. Argentina IoT in Utilities Market Analysis and Forecasts, 2022-2029 43.1. Market Size (Value) Estimates & Forecast By Component, 2022-2029 43.2. Market Size (Value) Estimates & Forecast By Technology, 2022-2029 43.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 44. Rest of South America IoT in Utilities Market Analysis and Forecasts, 2022-2029 44.1. Market Size (Value) Estimates & Forecast By Component, 2022-2029 44.2. Market Size (Value) Estimates & Forecast By Technology, 2022-2029 44.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 45. Competitive Landscape 45.1. Geographic Footprint of Major Players in the Global IoT in Utilities Market 45.2. Competition Matrix 45.2.1. Competitive Benchmarking of Key Players By Price, Presence, Market Share, Applications and R&D Investment 45.2.2. New Product Launches and Product Enhancements 45.2.3. Market Consolidation 45.2.3.1. M&A by Regions, Investment and Verticals 45.2.3.2. M&A, Forward Integration and Backward Integration 45.2.3.3. Partnership, Joint Ventures and Strategic Alliances/ Sales Agreements 45.3. Company Profile: Key Players 45.3.1. IBM 45.3.1.1. Company Overview 45.3.1.2. Financial Overview 45.3.1.3. Geographic Footprint 45.3.1.4. Product Portfolio 45.3.1.5. Business Strategy 45.3.1.6. Recent Developments 45.3.2. Oracle 45.3.3. Verizon 45.3.4. Cisco 45.3.5. Telit 45.3.6. Landis Gyr 45.3.7. Itron 45.3.8. Schneider Electric 45.3.9. Huawei 45.3.10. Trimble 45.3.11. Aclara 45.3.12. Trilliant 45.3.13. Energyworx 45.3.14. HCL 45.3.15. Altair 45.3.16. Actility 45.3.17. Waviot 45.3.18. Rayven 45.3.19. Saviant Consulting 45.3.20. ABB 45.3.21. Siemens 45.3.22. Honeywell 45.3.23. GE 45.3.24. GSMA 45.3.25. SAS 45.3.26. Comcast Corporation 45.3.27. Ericsson 45.3.28. Fujitsu 45.3.29. Sierra Wireless 45.3.30. AT&T 45.3.31. Sprint 45.3.32. Carina Technology 45.3.33. Hunt Power 45.3.34. Juniper Networks 45.3.35. Silicon Labs 45.3.36. Tantalus Systems 45.3.37. GridPoint 46. Primary Key Insights