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IoT in Utilities Market to Witness Substantial Gains Over 2020-2024 | Key Players are Microsoft Corporation, Intel Corporation, Cisco Systems Inc., IBM Corporation, Huawei Technologies Co. Ltd. General Electric, Trilliant Inc., Osisoft LLC, Honeywell Inte
IoT Utilities Market
The advent of IoT has paved the way for new utility services and business prototypes. Experts have forecast that network management systems will serve as a main component of the IoT in Utilities market, with utility service providers handling heterogenous communication systems such as multi-vendor and multi-protocol networks. In addition, the deployment of network management systems would have a considerable impact on IoT in utility market size, which is likely to accrue substantial gains subject to the robust growth of the telecommunications sector.
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The competitive spectrum of IoT in utilities market comprises the big shots such as Cisco Systems, Huawei Technologies Company Limited, Intel Corporation, and Honeywell International Incorporation, striving to bring about up-to-the-minute technological advancements that would have a commendable impact on the revenue of this business space.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. ABB Ltd.
2. Bosch Software Innovations GmbH
3. Cisco Systems Inc.
4. Hitachi Ltd
5. Honeywell International Inc.
6. Huawei Technologies Co. Ltd.
7. IBM Corporation
8. Intel Corporation
9. Microsoft Corporation
10. NEC Corporation
11. NXP Semiconductors
12. Osisoft, LLC
13. SAP SE
The success story of smart grids and smart meter deployment is one of the vital factors that may have pushed IoT in utilities market size in recent years, on the grounds of the fact that the incorporation of IoT in electric meters has indeed helped in power conservation. Today, IoT is being prominently adopted across the utility sector, with the deployment of cost-effective sensor technology in synchrophasors and smart grids.
The last half a decade has remarkably witnessed the Internet of Things penetrating the utilities domain, effectively commercializing IoT in 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.
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