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IoT in Utilities Market Analysis

  • Report ID: 4216
  • Published Date: Aug 19, 2024
  • Report Format: PDF, PPT

IoT in Utilities Market Analysis

The IoT in utilities market is segmented and analyzed for demand and supply by application into gas, water, electricity grid, wastewater, and others, out of which, the electricity grid segment is projected to acquire the largest share in the IoT in utilities market over the forecast period. The growth of the segment can be accounted to the skyrocketing demand for electricity in each sector of all sorts of industries. Electricity grids comprise enhanced meters, receivers, sensors, and energy boxes that share data pockets by communicating with each other. For instance, about 25,000 terawatts of energy were produced in the year 2021. 

Our in-depth analysis of the global IoT in utilities market includes the following segments:

          By Component
  • Software
  • Hardware
  • Services

 

          By Application
  • Gas
  • Water
  • Electricity Grid
  • Wastewater
  • Others

        By Management Type
  • Application
  • Device
  • Network
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Browse Key Market Insights with Data Illustration:

Author Credits:  Abhishek Verma


  • Report ID: 4216
  • Published Date: Aug 19, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

In the year 2024, the industry size of IoT in utilities is estimated at USD 51.07 billion.

IoT in Utilities Market size was valued at USD 46.73 billion in 2023 and is poised to cross USD 194.64 billion by 2036, registering more than 11.6% CAGR during the forecast period i.e., between 2024-2036. Spiking number of devices connected to IoT and escalating need for IoT in water distribution and generation will boost the market growth.

North America industry is set to account for largest revenue share by 2036, driven by higher adoption of smart grid technology and presence of large investors.

The major players in the market are General Electric Company, Cisco Systems, Inc., Vodafone Group Plc, Oracle Corporation, Honeywell International Inc., Telit IoT Platforms, LLC, Trimble Inc., Landis+Gyr AG, and others.
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