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Apr 06, 2023 (The Expresswire) --The latest market research report on the Global "IoT in Utilities Market" is segmented by Regions, Country, Company and other Segments. The global IoT in Utilities market is dominated by key Players, such as [HBM, Emerson Electric Co., AMETEK.Inc., OMRON Corporation, GENERAL ELECTRIC, Yokogawa Test and Measurement Corporation, Schneider Electric, Keysight Technologies, ABB, Honeywell, Advantech Co., Ltd., The MathWorks, Inc., Teledyne e2v (UK) Ltd, Campbell Scientific, Inc., BrÃ¼elandKjÃ¦r, National Instruments, Siemens Product Lifecycle Management Software Inc., Mitsubishi Electric Corporation, Kistler Group] these players have adopted various strategies to increase their market penetration and strengthen their position in the industry. Stake holders and other participants in the global IoT in Utilities market will be able to gain the upper hand by using the report as a powerful resource for their business needs.
What is the IoT in Utilities market growth?
IoT in Utilities Market Size is projected to Reach Multimillion USD by 2031, In comparison to 2023, at unexpected CAGR during the forecast Period 2023-2031.
Browse Detailed TOC, Tables and Figures with Charts which is spread across 101 Pages that provides exclusive data, information, vital statistics, trends, and competitive landscape details in this niche sector.
Client Focus 1. Does this report consider the impact of COVID-19 and the Russia-Ukraine war on the IoT in Utilities market?
1. Does this report consider the impact of COVID-19 and the Russia-Ukraine war on the IoT in Utilities market?Yes. As the COVID-19 and the Russia-Ukraine war are profoundly affecting the global supply chain relationship and raw material price system, we have definitely taken them into consideration throughout the research, and in Chapters, we elaborate at full length on the impact of the pandemic and the war on the IoT in Utilities Industry
Final Report will add the analysis of the impact of Russia-Ukraine War and COVID-19 on this IoT in Utilities Industry.
This research report is the result of an extensive primary and secondary research effort into the IoT in Utilities market. It provides a thorough overview of the market's current and future objectives, along with a competitive analysis of the industry, broken down by application, type and regional trends. It also provides a dashboard overview of the past and present performance of leading companies. A variety of methodologies and analyses are used in the research to ensure accurate and comprehensive information about the IoT in Utilities Market.
Which are the driving factors of the IoT in Utilities market?
Growing demand for [Water Management, Gas Management, Electricity Grid Management, Others] around the world has had a direct impact on the growth of the IoT in Utilities
The IoT in Utilities segments and sub-section of the market are illuminated below:
Based on Product Types the Market is categorized into [Network Management, Device Management, Application Management] that held the largest IoT in Utilities market share In 2022.
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IoT in Utilities Market - Competitive and Segmentation Analysis:
2.How do you determine the list of the key players included in the report?
With the aim of clearly revealing the competitive situation of the industry, we concretely analyze not only the leading enterprises that have a voice on a global scale, but also the regional small and medium-sized companies that play key roles and have plenty of potential growth.
Short Description About IoT in Utilities Market:
The Global IoT in Utilities market is anticipated to rise at a considerable rate during the forecast period, between 2022 and 2031. In 2021, the market is growing at a steady rate and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.
North America, especially The United States, will still play an important role which cannot be ignored. Any changes from United States might affect the development trend of IoT in Utilities. The market in North America is expected to grow considerably during the forecast period. The high adoption of advanced technology and the presence of large players in this region are likely to create ample growth opportunities for the market.
Europe also play important roles in global market, with a magnificent growth in CAGR During the Forecast period 2022-2029.
IoT in Utilities Market size is projected to reach Multimillion USD by 2029, In comparison to 2022, at unexpected CAGR during 2022-2029.
Despite the presence of intense competition, due to the global recovery trend is clear, investors are still optimistic about this area, and it will still be more new investments entering the field in the future.
This report focuses on the IoT in Utilities in global market, especially in North America, Europe and Asia-Pacific, South America, Middle East and Africa. This report categorizes the market based on manufacturers, regions, type and application.
The report focuses on the IoT in Utilities market size, segment size (mainly covering product type, application, and geography), competitor landscape, recent status, and development trends. Furthermore, the report provides detailed cost analysis, supply chain.
Technological innovation and advancement will further optimize the performance of the product, making it more widely used in downstream applications. Moreover, Consumer behavior analysis and market dynamics (drivers, restraints, opportunities) provides crucial information for knowing the IoT in Utilities market.
3.What are your main data sources?Both Primary and Secondary data sources are being used while compiling the report.
Primary sources include extensive interviews of key opinion leaders and industry experts (such as experienced front-line staff, directors, CEOs, and marketing executives), downstream distributors, as well as end-users. Secondary sources include the research of the annual and financial reports of the top companies, public files, new journals, etc. We also cooperate with some third-party databases.
Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historical data and forecast (2017-2027) of the following regions are covered in Chapters:
● North America (United States, Canada and Mexico)
● Europe (Germany, UK, France, Italy, Russia and Turkey etc.)
● Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
● South America (Brazil, Argentina, Columbia etc.)
● Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
This IoT in Utilities Market Research/Analysis Report Contains Answers to your following Questions
● What are the global trends in the IoT in Utilities market? Would the market witness an increase or decline in the demand in the coming years?
● What is the estimated demand for different types of products in IoT in Utilities? What are the upcoming industry applications and trends for IoT in Utilities market?
● What Are Projections of Global IoT in Utilities Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about Import and Export?
● Where will the strategic developments take the industry in the mid to long-term?
● What are the factors contributing to the final price of IoT in Utilities? What are the raw materials used for IoT in Utilities manufacturing?
● How big is the opportunity for the IoT in Utilities market? How will the increasing adoption of IoT in Utilities for mining impact the growth rate of the overall market?
● How much is the global IoT in Utilities market worth? What was the value of the market In 2020?
● Who are the major players operating in the IoT in Utilities market? Which companies are the front runners?
● Which are the recent industry trends that can be implemented to generate additional revenue streams?
● What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for IoT in Utilities Industry?
Customization of the Report
Can I modify the scope of the report and customize it to suit my requirements?
Yes. Customized requirements of multi-dimensional, deep-level and high-quality can help our customers precisely grasp market opportunities, effortlessly confront market challenges, properly formulate market strategies and act promptly, thus to win them sufficient time and space for market competition.
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Detailed TOC of Global IoT in Utilities Market Insights and Forecast to 2031
Major Points from Table of Contents
Global IoT in Utilities Market Research Report 2023-2031, by Manufacturers, Regions, Types and Applications
1.1 Objective of the Study
1.2 Definition of the Market
1.3 Market Scope
1.3.1 Market Segment by Type, Application and Marketing Channel
1.3.2 Major Regions Covered (North America, Europe, Asia Pacific, Mid East and Africa)
1.4 Years Considered for the Study (2015-2031)
1.5 Currency Considered (U.S. Dollar)
2 Key Findings of the Study
3 Market Dynamics
3.1 Driving Factors for this Market
3.2 Factors Challenging the Market
3.3 Opportunities of the Global IoT in Utilities Market (Regions, Growing/Emerging Downstream Market Analysis)
3.4 Technological and Market Developments in the IoT in Utilities Market
3.5 Industry News by Region
3.6 Regulatory Scenario by Region/Country
3.7 Market Investment Scenario Strategic Recommendations Analysis
4 Value Chain of the IoT in Utilities Market
4.1 Value Chain Status
4.2 Upstream Raw Material Analysis
4.3 Midstream Major Company Analysis (by Manufacturing Base, by Product Type)
4.5 Downstream Major Customer Analysis (by Region)
5 Global IoT in Utilities Market-Segmentation by Type
6 Global IoT in Utilities Market-Segmentation by Application
7 Global IoT in Utilities Market-Segmentation by Marketing Channel
7.1 Traditional Marketing Channel (Offline)
7.2 Online Channel
8 Competitive Intelligence Company Profiles
9 Global IoT in Utilities Market-Segmentation by Geography
9.1 North America
9.4 Latin America
9.5 Middle East and Africa
10 Future Forecast of the Global IoT in Utilities Market from 2023-2031
10.1 Future Forecast of the Global IoT in Utilities Market from 2023-2031 Segment by Region
10.2 Global IoT in Utilities Production and Growth Rate Forecast by Type (2023-2031)
10.3 Global IoT in Utilities Consumption and Growth Rate Forecast by Application (2023-2031)
12.2 Research Data Source
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The global Internet of Things (IoT) in utilities market size expected to grow from USD 28.6 billion in 2019 to USD 53.8 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 13.5% during the forecast period.What is the forecast for IoT services? ›
The global iot services market size is expected to grow to $400.78 billion in 2027 at a CAGR of 16.9%.How much economic value will IoT create by 2023? ›
Globally, the Internet of Things market is expecting to grow to USD 1,386.06 billion in 2023, from USD 761.4 billion in 2020, a 10.53 percent compound annual growth rate throughout the forecast period (2021-2023).What is the trend in IoT in utilities? ›
IoT is redefining the power grid
With increasingly rapid mobile connectivity speeds, smart meters provide near real-time information on energy consumption and transmission. This data allows for more efficient, demand-based electricity generation and distribution.
IoT In Utilities Market Outlook (2022-2032)
[300 Pages Report] The global IoT in the utilities market garnered US$ 36.8 Billion in 2021 and is likely to exhibit a Y-o-Y increase of 11.9% to be valued at US$ 41.8 Billion in 2022.
The global Internet of Things (IoT) market size was valued at USD 544.38 billion in 2022 and is projected to grow from USD 662.21 billion in 2023 to USD 3,352.97 billion by 2030, exhibiting a CAGR of 26.1% during the forecast period.What will the IoT market be worth in 2030? ›
|Life Sciences||Construction & Manufacturing||Semiconductor & Electronics|
|Consumer Goods||Food & Beverages||Automotive & Tarnsportation|
Industrial IoT - market size worldwide 2020-2028
The market is expected to grow in size in the coming years, reaching some 1.11 trillion U.S. dollars by 2028.
By 2050, there will be 24 billion interconnected devices, meaning almost every object us around us: streetlights, thermostats, electric meters, fitness trackers, water pumps, cars, elevators, even gym vests.
The extensive application of IoT in the utilities sector is an opportunity to monitor and manage energy more effectively, reduce energy waste, and, ultimately, improve safety and operational efficiency along with allowing for an economical use of natural resources.What is the biggest threat to IoT? ›
Tampering with IoT devices: One of the most common ways to exploit IoT devices is to tamper with their firmware, which can result in data being lost or corrupted.What is the biggest problem with IoT? ›
Security. In our opinion, security is the most crucial issue that needs to be addressed for IoT. Developers working on your IoT programming are usually not security experts, which opens your code to a range of vulnerabilities and your devices to unauthorized access.What will be the economic impact of IoT devices by 2025? ›
In our research for the McKinsey Global Institute, we looked at more than 150 specific IoT applications that exist today or could be in widespread use within 10 years and estimate that they could have a total economic impact of $3.9 trillion to $11.1 trillion per year in 2025.What is the future of IoT devices by 2025? ›
According to a report by ResearchAndMarkets, the global IoT and AI market is expected to reach $26.79 billion by 2025, growing at a CAGR of 29.7% from 2020 to 2025. In addition to healthcare, IoT is also being increasingly used in agriculture to monitor crops and improve yield.What will be the IoT successful in the coming years? ›
1. The Internet of Things will be successful in coming years because it will enable a more efficient use of resources. The Internet of Things (IoT) is a network of physical objects that are connected to the internet. These objects can collect and share data about themselves and their surroundings.Can you predict how many IoT will be in 5 or 10 years from now? ›
The facts below are an eye-opener about the future of IoT: IoT devices will increase by 18% to 14.4 billion in 2023, and by 2025, there may be 27 billion connected IoT devices. By 2030, it is estimated that there will be 25.4 billion IoT devices. Over 400 IoT platforms are currently active.Will there be 75 billion IoT devices by 2025? ›
In just a few years, billions of sensors have redefined how businesses operate and how people interact with each another. However, this is only the start. IHS predicts that IoT will reach a staggering 75 billion devices connected by 2025.Does IoT have a bright future? ›
The future of IoT has the potential to be limitless. Advances to the industrial internet will be accelerated through increased network agility, integrated artificial intelligence (AI) and the capacity to deploy, automate, orchestrate and secure diverse use cases at hyperscale.What is the future of IoT market? ›
The internet of things market volume is expected to reach US$33.74bn by 2027, with a staggering CAGR of 11.49 from 2022 to 2027. Among enterprise IoT usage, most deployments are in electricity, gas, steam, water supply, and waste management.
According to the latest available data, there are approximately 15.14 billion connected IoT devices. This figure is expected to almost double to 29.42 billion by 2030.How many IoT devices in 2030? ›
The number of connected Internet of Things (IoT) devices worldwide will jump 12 percent on average annually, from nearly 27 billion in 2017 to 125 billion in 2030, according to new analysis from IHS Markit (Nasdaq: INFO).Who is the market leader in IoT? ›
|Microsoft Azure IoT||1350||16.21%|
|Google Cloud IoT||968||11.62%|
|IoT companies||IoT Products/services||Founded|
|PTC||Industrial IoT-Build, Develop, & Deploy smart connected solutions.||1985|
|Cisco||IoT Networking, IoT Gateways, IoT Operations Management, IoT Data Management, IoT Security.||1984|
|ARM||Connectivity Management, Device Management, & Data Management.||1990|
Top Competitors and Alternatives of Microsoft Azure IoT
The top three of Microsoft Azure IoT's competitors in the IoT Platform category are Google Cloud IoT with 11.70%, Cisco IoT with 11.36%, Oracle IoT with 10.03% market share.
But in 2023, we are seeing the IoT trend of a move into the area of higher bandwidth applications with larger volumes of data being transmitted at higher rates. And this is going to lead to a significant enlargement of the potential for the technology.What is the next big technology in it in 2023? ›
New Technology Trends 2023 :
Artificial Intelligence (AI) and Machine Learning (ML) Robotic Process Automation (RPA) Edge Computing. Quantum Computing.
There will be 22 billion connected devices in the world by 2025. IoT technology can be used in sectors like Manufacturing, Agriculture, Healthcare, Transportation, Media/Advertising, Retail, Water and Waste Management, Power Distribution, etc.How many IoT devices by 2035? ›
ARM predicts 1 trillion IoT devices by 2035 with new end-to-end platform - ITU Hub.What is the market size for utilities? ›
The market size, measured by revenue, of the Utilities industry is $1.1tr in 2023. What is the growth rate of the Utilities industry in the US in 2023?
|Market size value in 2021||USD 3.77 Billion|
|Revenue forecast in 2030||USD 9.46 Billion|
|CAGR||11.5% from 2022 - 2030|
IoT Infrastructure Market size was valued at over USD 15 billion in 2016 and will grow at more than 25% CAGR estimation from 2017 to 2024. Rising investments in smart city projects across the globe is anticipated to drive the IoT infrastructure market growth.What are the 4 market utilities? ›
Marketing utilities are the unique value proposition offered by a product that helps it stand out from the competition. There are several types of utility: time utility, form utility, information utility, place utility, service utility, and possession utility.What is the overview of utilities industry? ›
The utilities sector consists of companies that provide electricity, natural gas, water, sewage, and other services to homes and businesses. Public utilities are privately owned companies that are regulated by public utility commissions that operate at a variety of jurisdictional levels, usually at the state level.What are the four utilities of market value? ›
There are four basic principles that fall under this umbrella, including form utility, time utility, place utility, and possession utility. Companies can boost their sales and revenues by understanding and tailoring their marketing and production efforts to the way individuals purchase and consume their products.What will be the size of IoT market in 2030? ›
|Characteristic||Revenue in billion U.S. dollars|
|Market Size in 2022||USD 392.85 Billion|
|Market Size by 2030||USD 1742.8 Billion|
|Growth Rate from 2022 to 2030||CAGR of 20.47%|
The global renewable energy market is expected to continue its upward growth over the next years. According to the Group Next Move Strategy Consulting, the market will reach over two trillion U.S. dollars by 2030.What is the utility marketing model? ›
Also known as the utility marketing model, marketing utility involves identifying the needs of a particular consumer group then finding ways to align business activities with those needs.
The top 5 industries benefiting from IoT are health, hospitality, finance, agriculture, and manufacturing. IoT helps minimise costs, maintain databases, and reduce waste in the healthcare industry.What are the biggest industries for IoT? ›
Currently, the manufacturing industry is the most prominent investor in the Internet of things. The leading IoT applications in manufacturing include: Monitoring of the Production flow leads to flow optimization, waste reduction, and the minimization of unnecessary work in process inventory.What will be the size of IoT market by 2025? ›
The Indian IoT market is expected to reach US$9.28 billion by 2025 from US$4.98 billion in 2020, driven mostly by changes in enterprise behaviour triggered by the COVID-19 pandemic and verticals' focus on automation are driving the market.