Press release
Global Internet Of Things (IoT) In Energy Market: Surging at a CAGR of 10.4% with a Forecast of $47.41 billion by 2029
Internet Of Things (IoT) In Energy Market
Harnessing Digital Transformation in the Energy Sector: IoT Authenticates a Greener and Efficient Future
What Is The Projected Market Size Of The Global Internet Of Things (IoT) In Energy Market And Its Growth Rate?
•Growth from 2024 to 2025: The market is expected to grow from $25.97 billion to $28.68 billion, advancing at a CAGR of 10.4%. The growth can be attributed to smart grid development, cost reduction, rising energy demand, grid modernization initiatives, and environmental concerns.
•Forecast for 2029: The market will further grow to $47.41 billion in 2029 at a CAGR of 13.4%. This growth is expected due to real-time asset monitoring, decentralized energy generation, IoT device proliferation, climate change mitigation, and energy management systems.
What Is Driving The Growth In The Internet Of Things (IoT) In Energy Market?
Increasing adoption of energy management systems is fueling the growth of the internet of things in the energy market. Energy management strategies, which incorporate the proactive, systematic and coordinated management of energy, are being widely used to meet environmental and economic goals. In the energy sector, real-time power consumption data obtained from IoT-based systems is being used to optimize electricity usage, develop efficient and sustainable energy consumption strategies, and transition to more cost- and resource-efficient regimes. For instance, a report by the Federal Statistical Office of Germany shows that as of 2022, one out of every ten households in Germany utilizes smart energy management systems, such as intelligent thermostats and electricity meters, to conserve energy. This trend indicates the growing demand for IoT solutions in the energy industry.
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Who Are the Key Players Driving Internet Of Things (IoT) In Energy Market Growth?
•Cisco Systems Inc.
•International Business Machines Corporation
•Intel Corporation
•SAP SE
•AGT International
•Davra Networks
•HCL Technologies Ltd.
•Acce*nture PLC
•Google LLC
•Altair Engineering Inc.
•Siemens AG
•Schneider Electric SE
•Rockwell Automation Inc.
•Asea Brown Boveri Ltd.
•Aclara Technologies LLC
•C3.ai Inc.
•Honeywell International Inc.
•Vodafone Group PLC
•Duke Energy Corporation
•Enel S.p.A.
•Électricité de France
•Pacific Gas and Electric Company
•National Grid PLC
•Southern Company
•Carriots SL
•Flutura Business Solutions LLC
•Maven Systems Private Ltd.
•Wind River Systems Inc.
What Are The Key Trends In The Internet Of Things (IoT) In Energy Market?
•Adaptive Energy Management
•Energy Consumption Analytics
•Blockchain for Energy Transactions
•Renewable Energy Integration
•IoT-enabled Smart Buildings
What Are The Segments Of The Global Internet Of Things (IoT) In Energy Market?
1) By Component: Solution, Platforms, Services
2) By Technology: Cellular Network, Satellite Network, Radio Network, Other Technologies
3) By Application: Energy Generation, Energy Consumption, Network Security, Email Security, Database And Cloud Security, Other Applications
Which Region Leads The Internet Of Things (IoT) In Energy Market?
North America was the largest market for IoT in Energy in 2024. However, during the forecast period, Asia-Pacific is expected to witness the fastest growth. The report also covers other regions including Western Europe, Eastern Europe, South America, the Middle East, and Africa.
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What Is Covered In The Internet Of Things (IoT) In Energy Market Global Market Report?
- Market Size Analysis: Analyze the Internet Of Things (IoT) In Energy Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Internet Of Things (IoT) In Energy Market for effective categorization.
- Key Player Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Internet Of Things (IoT) In Energy Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Internet Of Things (IoT) In Energy Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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