Global Internet of Things (IoT) in Energy and Utility Applications Market Should Reach $59.9 billion by 2022

A fresh report has been added to the wide database of Market Research Hub (MRH) titled “Global Internet of Things (IoT) in Energy and Utility Market Systems, Technologies and Global Markets” offers a detailed synopsis of this industry and discusses the major factors affecting the growth. The impact on the market over the next few years has also been discussed at length in this study. It further forecasts the size and valuation of the Internet of Things (IoT) in Energy and Utility market for the forthcoming years.

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Key Highlights:

• The global market for Internet of Things (IoT) in energy and utility applications should reach $59.9 billion by 2022 from $21.4 billion in 2017 at a compound annual growth rate (CAGR) of 22.9%, from 2017 to 2022.
• The hardware segment is the largest technology type of the global IoT in Energy and Utility Applications market. The market is expected to grow from $6.5 billion in 2017 to $17.3 billion in 2022 at a CAGR of 21.7% for the period 2017-2022.
• The services segment of the global market for the IoT in energy and utility applications is expected to grow from $5.9 billion in 2017 to $17.0 billion in 2022 at a CAGR of 23.5% for the period 2017-2022.
Report Includes:
• 90 data tables and 10 additional tables
• A global market overview of the Internet of Things (IoT) in energy and utility applications
• Analyses of global market trends, with data from 2016, estimates for 2017, and projections of compound annual growth rates (CAGRs) through 2022
• Analyses of the market by technology, end user, and service
• Detailed discussion of the impact of the key trends and key stakeholders in the market
• In-depth patent analysis of IoT product technologies currently under investigation or new in the market
• Profiles of manufacturers and suppliers of IoT technology products

Report Scope:

Internet of Things (IoT) is defined as a system of interconnected devices, machines, digital devices, objects, animals and/or humans, each provided with unique identifiers and with the ability to transfer data over a network that requires human-to-human or human-to-computer interaction. In IoT, objects are embedded with sensors, actuators and monitors, allowing them to communicate. IoT works in conjunction with software and hardware and includes a range of software such as analytics, data analysis, etc., and hardware such as sensors, actuators and devices.

The IoT in energy and utilities market can be broadly categorized into hardware, software, services and connectivity (technology classification). While hardware and services dominate the market, software, services and connectivity are the three strongest growing categories. In connectivity, low power wide area (LPWA) is the strongest growing sub segment.

IoT is witnessing strong penetration in all industry-level sub segments such as oil and gas, utility gas management, water management, and electricity grid and supply management. The utility gas management sub segment is witnessing the strongest growth, while the mining category is experiencing particularly slow growth.

The scope of this report includes hardware, software, services and connectivity technologies related to IoT in energy and utilities, and hence all calculations and segmentations consider hardware, software, services and connectivity technologies in the IoT in energy and utilities market. Along with product and solutions revenue, BCC Research has also considered services revenue. The report includes distinct types of companies such as:

• Connected device and IoT technology providers
• Large technology vendors that have a presence in many verticals
• Energy and utility technology manufacturers
• Energy and utility companies that have a presence in the technology space
• Others, including suppliers and distributors

In the services segment, the report covers all forms of services such as professional services, deployment and integration, and support and maintenance. However, stand-alone service providers that provide post-sale services are out of scope of this report. The report also excludes technology companies that may have a strong presence in the IoT space but do not offer any solutions or services in the energy and utilities sector.
The report begins by introducing the reader to how the market for IoT in energy and utilities has evolved over time and how various factors impact the market. The report will then proceed to identify the following:

• Primary forces with a direct impact on the IoT in energy and utilities sector
• Secondary forces that have an indirect impact
• Key funding and financing in this space
• Some key challenges that may hinder the growth of this market
• Key trends visible in the market
• Leading end users of IoT in the energy and utilities sector
• Demand in Asia-Pacific, North America, Europe, Middle East and Africa, and South America for IoT in energy and utilities

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Table of Content:
Chapter- 1: Introduction
Chapter- 2: Summary and Highlights
Chapter- 3: Market and Technology Background
Chapter- 4: Market Breakdown by Technology Type
Chapter- 5: Market Breakdown by End User
Chapter- 6: Market Breakdown by Connectivity
Chapter- 7: Market Breakdown by Region

….continue

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This release was published on openPR.