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IoT in Utilities Market Share

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

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IoT in Utilities Market Share

Regionally, the global IoT in utilities market is studied into five major regions including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa region. 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. Additionally, rising demand for electricity and exponential growth in the metering industry of the region are also estimated to drive the market growth over the forecast period. Data released by U.S. Energy Information Administration (EIA) stated that in 2021, the electricity consumed in the USA region was nearly 3.9 trillion kilowatt-hours.

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IoT in Utilities Market Size & Share, Growth Trends 2036

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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