Internet of Things (IoT) in Energy Market is Expected to Grow at a CAGR of 17.3% by 2027, Owing to the Growing Investments by Enterprises Aiming to Enter the IoT in Energy Sector: Says Absolute Markets Insights

Companies operating in the energy sector are increasingly investing on IoT technology to improve performance, eliminate uncertainties and discover maintenance issues in real time. As per statistics from TCS, energy companies have spent more than USD 70 million towards IoT in 2015 which is expected to increase over the consecutive years. The investments are primarily being undertaken in production monitoring, distribution operations and premises monitoring. With investments in supply chain monitoring being highest amongst others, Internet of things (IoT) in energy market is expected to grow at a CAGR of 17.3% during the forecasted period (2019 – 2027).

Global companies are exploring acquisition and partnerships with start-ups who are combining technology and data driven insights for sectoral disruption. For instance, a Hero Group company, Hero Electronix, acquired Zenatix, a provider of IoT based energy monitoring and control products, to assist in their geographical expansion strategies. Furthermore, through this expansion, the company has expanded its operations in the Internet-of-things (IoT) space. On similar lines, Hitachi has invested into startup Flutura, which focuses on machine to machine and big data analytics for IoT applications, to supplement and strengthen their existing offerings in the high-tech solution space. Hence, the strategic initiatives being undertaken by existing participants and potential investors into the internet of things (IoT) in energy market is anticipated to influence the market growth in the forecast period.

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“Several deals among energy companies and startups are marking the wave of consolidations and acquisitions in the IoT in energy market. The technologically advanced startups, equipped with novel solutions, are being acquired and funded by large corporations, with an objective to expand their portfolio and business operations. Thus, the on-going and up-coming strategic developments in the industry, are expected to steer the growth of internet of things (IoT) in energy market.

The detailed research study provides qualitative and quantitative analysis of internet of things (IoT) in energy market. The market has been analyzed from demand as well as supply side. The geographical analysis emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East, Africa and Latin America.

Some of the players operating in the internet of things (IoT) in energy market are Accenture, Actility, Altair Engineering, Inc., Cisco Systems, Inc., Flutura, IBM Corporation, Intel, Meazon, Northwest Analytics, Inc., PingThings, SAP SE, Schneider Electric, Siemens, SYMBOTICWARE INC, Telit and Wind River Systems, Inc.

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By Offerings

Hardware
Software
Services
By Network Technology

Cellular Network
Satellite Network
Radio Network
By Application

Energy Management
Power Distribution
Mobile Workforce Management
Asset and Equipment Monitoring
Field Surveillance
Others
By Region

North America
U.S.
Canada
Mexico
Rest of North America
Europe
France
The UK
Spain
Germany
Italy
Nordic Countries
Denmark
Finland
Iceland
Norway
Sweden
The Benelux Union
Belgium
The Netherlands
Luxemburg
Rest of Europe
Asia Pacific
China
Japan
India
Australia
New Zealand
South Korea
Southeast Asia
Indonesia
Thailand
Malaysia
Singapore
Rest of Southeast Asia
Rest of Asia Pacific
Middle East and Africa
Saudi Arabia
Egypt
Kuwait
South Africa
Rest of Middle East and Africa
Latin America
Brazil
Argentina
Rest of Latin America

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