IoT in Utilities Industry - Regional Synopsis
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 anticipated to hold largest revenue share by 2037, 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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Frequently Asked Questions (FAQ)
In the year 2025, the industry size of IoT in utilities is estimated at USD 57.29 billion.
IoT in Utilities Market size was over USD 52.15 billion in 2024 and is anticipated to cross USD 217.21 billion by 2037, growing at more than 11.6% CAGR during the forecast period i.e., between 2025-2037.
North America industry is anticipated to hold largest revenue share by 2037, 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.
