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IoT In Utilities Market Outlook 2023: Expected Market Growth Rate, Major Driver And Segments | International Business Machines Corporation, Oracle Corporation, Verizon Communications, Cisco Systems Inc
IoT In Utilities Global Market Report
The Business Research Company's IoT In Utilities Global Market Report 2023 identifies the increasing demand for digitization is expected to propel the growth of the IoT in the utility market going forward. 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.
The global iot in utilities market size will grow from $43.86 billion in 2022 to $49.68 billion in 2023 at a compound annual growth rate (CAGR) of 13.3%. 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, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the iot in utilities is expected to grow to $81.01 billion in 2027 at a CAGR of 13.0%.
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Major players in the IoT in utilities 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.
A key trend in the IoT In Utilities market includes the Integration of new technologies has emerged as a key trend gaining popularity in the IoT in the utility market. Major companies operating in the market are focused on integrating new technologies to gain a competitive advantage.
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The IoT In Utilities 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
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the IoT In Utilities market.
The Business Research Company's "Global IoT In Utilities Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The IoT In Utilities Market 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
……
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
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