Global Iot In Utilities Market: Industry Analysis, Size, Share, Growth, Trends

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Global IoT in Utilities Market size is expected to reach US$ XX Mn. by 2026 from US$ XX Mn. in 2019, at a CAGR of 14.8% during the forecast period.

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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 2016 to 2019 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.

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.
Global 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 2018, 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 2024. 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.
Global IoT in Utilities Market

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The electricity grid management segment is expected to hold the largest market share of XX% by 2026. 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.
Global IoT in Utilities Regional Insights

Global IoT in Utilities 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. North America holds the major share of utilities due to the high consumption of energies. 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 2026. 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.

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Global IoT in utility Market

Global IoT in Utilities Market, by Region

• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa
Global IoT in Utilities Market Key Players

• IBM
• Oracle
• Verizon
• Cisco
• Telit
• Landis Gyr
• Itron
• Schneider Electric
• Huawei
• Trimble
• Aclara
• Trilliant
• Energyworx
• HCL
• Altair
• Actility
• Waviot
• Rayven
• Saviant Consulting
• ABB
• Siemens
• Honeywell
• GE
• GSMA
• SAS
• Comcast Corporation
• Ericsson
• Fujitsu
• Sierra Wireless
• AT&T
• Sprint
• Carina Technology
• Hunt Power
• Juniper Networks
• Silicon Labs
• Tantalus Systems
• GridPoint

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