Global IoT Utilities Market By Analysis and Growth On Focusing Key Players: IBM Corporation, Cisco Systems, Intel Corporation, Huawei Technologies, Honeywell International, Trilliant, Microsoft Corporation
The last half a decade has remarkably witnessed the Internet of Things penetrating the utilities domain, effectively commercializing IoT utilities market, a realm which is of late, being characterized by intense competition among tech behemoths. Having earned the tag of being one of most dynamically transformative technologies brainstormed in recent times, IoT has successfully been exploited to a massive extent in the utilities sector.
The deployment of this technology has helped utility companies monitor real time power consumption by effectively promoting connectivity, operational efficacy, & communication between smart meters, edge equipment, and sensors. Furthermore, IoT has necessitated the conception of contemporary business models in the utility sector, the mass acceptance of which has been forecast to have a profound impact on the overall IoT utilities industry size, pegged at a valuation of USD 4 billion in 2016.
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Top Key Players:
Companies operating in the IoT utilities market include IBM Corporation, Cisco Systems Inc., Intel Corporation, Huawei Technologies Inc., Honeywell International Inc., Trilliant Inc., Microsoft Corporation, Osisoft LLC and General Electric.
Market share calculation in this report is not done based on companies covered in it. The calculation of IoT utilities market share is done based on a regional approach and countries covered. On request, additional companies can be covered as well as regional data for particular country / countries can be provided.
Regional Segmentations: -
One of the most profitable avenues for the expansion of IoT utilities industry is the United States. Mass awareness regarding the benefits of IoT technology in sync with the presence of oil & gas production units across the country demanding the deployment of connected solutions are expected to drive U.S. IoT utilities market share.
Across the APAC zone however, the escalating need for smart meters coupled with the development of smart cities & construction activities in China and India will help transform the regional IoT utilities market outlook. Furthermore, the huge presence of numerous power generating units and high government funding for the power sector will also provide a boost to the Asia Pacific IoT utilities industry trends.
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Partial Chapter of the Table of Content
Chapter 1. Methodology & Scope
1.1.1. Initial data exploration
1.1.2. Statistical model and forecast
1.1.3. Industry insights and validation
1.1.4. Scope, definition and research parameters
1.2. Data Sources
Chapter 2. Executive Summary
2.1. IoT utilities industry 360º synopsis, 2013 - 2024
2.1.1. Business trends
2.1.2. Regional trends
2.1.3. Platform trends
2.1.4. Technology trends
2.1.5. Component trends
2.1.6. Application trends
2.1.7. Service trends
Chapter 3. Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2013 - 2024
3.3. Industry ecosystem analysis
3.3.1. Component suppliers
3.3.2. Software providers
3.3.3. Technology providers
3.3.4. Service providers
3.3.5. System integrators
3.3.6. Vendor matrix
3.3.7. Distribution channel analysis
3.4. Technology & innovation landscape
3.5. Regulatory landscape
3.6. Industry impact forces
3.6.1. Growth drivers
126.96.36.199. Increasing demand to enhance the operational efficiency in the U.S
188.8.131.52. Technological advancements in the U.S.
184.108.40.206. Low cost of components in Asia Pacific
220.127.116.11. Rising government initiatives in China and India
18.104.22.168. Growing adoption of cloud platform in Europe
22.214.171.124. Increasing demand for monitoring utility facilities in Europe
3.6.2. Industry pitfalls & challenges
126.96.36.199. Data security & privacy concerns
188.8.131.52. Unavailability of skilled workforce
184.108.40.206. High implementation cost
3.7. Growth potential analysis
3.8. Porter's analysis
3.9. Competitive landscape, 2016
3.9.1. Strategy dashboard
3.10. PESTEL analysis
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IoT applications assist utilities in interpreting the power consumption patterns and problem recognition, facilitating the effective allocation of resources. The evolution of IoT has made it viable for smart meters to connect with consumer electrical equipment through wireless connections and provide them with real time information about power consumption. On these grounds, over the last few years, the deployment of smart meters has gained intense popularity across the utility sector. The concept of smart cities has further helped promote the application of IoT devices across the construction sector, for the reason that IoT helps upgrade building and smart energy grid connectivity, which would eventually augment the profitability landscape of IoT utilities market.
Leading technocrats predict that utility firms would exploit IoT extensively in the ensuing years to reduce power consumption across the oil & gas, water, transportation, and electric sectors. For instance, the ability of the smart sensors to check the quality, pressure, temperature, and consumption of water has led to smart water management gaining renewed traction lately. A leading industry report predicts that utility firms are forecast to reduce their expenditure by nearly USD 157 billion by 2035 through smart meter applications, thereby stimulating IoT utilities market trends in the years ahead.
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