2022 IoT In Utilities Market Report: Size, Share, Growth, Trends, Demand, Insights And Forecast Up To 2031

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The global IoT in the utility market report by the business research company The increasing demand for digitization to be a major growth driver for the IoT in the utility market. Digitization in the IoT in the utility market uses digital tools to logically monitor and upgrade physical infrastructure, automation to improve workforce safety and efficiency, and hence improve customer interaction. Digitization also improves the integration of distributed systems with an advanced grid digital technology. For instance, according to Trade Arabia, an Abu Dhabi-based news agency, in April 2022, the utility sector saw a spike in the implementation of digitization technology driven by a reduction in operating expenses of up to 25% and performance gains of 20% to 40% in areas such as safety, reliability, customer satisfaction, and regulatory compliance. Therefore, increasing demand for digitization is driving the growth of the IoT in the utility market.

The global IoT in utilities market size is expected to grow from $38.21 billion in 2021 to $43.78 billion in 2022 at a compound annual growth rate (CAGR) of 14.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, affecting many markets across the globe. The IoT in the utilities market is expected to reach $69.86 billion in 2026 at a CAGR of 12.4%.

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North America was the largest region in the IoT in utilities market in 2021. The regions covered in the IoT in utilities market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Major players in the IoT in the utility market are International Business Machines Corporation, Oracle Corporation, Verizon Communications, Cisco Systems Inc, Vodafone Group, Telit, Landis+Gyr, Itron Inc, Schneider Electric SE, Huawei Technologies, Trimble Inc, ABB Corporation, Honeywell International Inc, Siemens AG, General Electric, Aclara Technologies LLC, Trilliant Networks Inc, Energyworx, HCL Technologies, Altair Engineering, Actility S.A, WAVIoT, and Rayven LLC

The global IoT in the utility market is segmented -
1) By Component: Platform, Solutions, Services, Other Components
2) By Technology: Sensors, RFID, Connectivity Technology
3) By Application: Electricity Grid Management, Gas Management, Water and Waste Management, Other Applications

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The IoT in the utility market Report Contents Include
1. Executive Summary
2. IoT In Utilities Market Characteristics
3. IoT In Utilities Market Trends And Strategies
4. IoT In Utilities Market - Macro Economic Scenario
5. IoT In Utilities Market Size And Growth
........
26. Africa IoT In Utilities Market
27. IoT In Utilities Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The IoT In Utilities Market
29. IoT In Utilities Market Future Outlook and Potential Analysis
30. Appendix

This report covers the trends and market dynamics of the IoT in the utility market in major countries - Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The report also includes consumer surveys and various future opportunities for the market.

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