Avalibale Format*: |
ReportID: EACT168 |
Category: Information Technology | Sub-Category: Emerging and Connected Technology
Publishing Soon | US$4250 |
Internet of things to become next wave of technology in energy and utility sector by offering insights to enhance decision making capabilities, create innovative experiences, and solve critical problems in real-time. With growing number of connected devices and rising amount of data generated from these devices issues associated with interoperability and data security is also increasing. To overcome such issues energy & utility companies are investing substantial amount on scalable and integrated solutions. This is encouraging prominent players to deliver reliable and efficient solutions and systems to meet diverse end user need.
Growing demand for automated systems and solutions in energy & utility sector to offer uninterrupted electricity distribution to end users is boosting growth of the market across the globe. Additionally, increasing focus of utilities to enhance grid reliability and security is expected to fuel the growth of IoT market in energy & utility sector. Other factors such as need to improve workflow, meeting customer requirements and regulatory compliances, and enhance productivity are projected to increase the demand for advanced IoT enabled solutions and systems in the energy & utility sector.
The Internet of things market in energy & utilities has been segmented into offering, hardware, software, services and end users. Based on offering, the IoT market in energy & utility is bifurcated into hardware, software, and service. The software segment is further sub-segmented into power loss and theft detection solution, asset management, energy management, demand response and other software. The IoT market in energy & utilities is classified based on services into consulting, repair & maintenance, integration & implementation, and other services. The end users covered in the market are oil & gas, water, and electricity utilities.
Major geographies covered in the IoT market in energy & utilities are North America, Western Europe, Eastern Europe, Latin America, Asia Pacific, and Middle East & Africa. North America and Europe are the two prominent regional markets accounting for major share of the overall pie. Introduction of favorable government initiatives to transform traditional electricity grid to smart grid is increasing the uptake of intelligent IoT systems and solutions in these regions. Other emerging regional markets are Asia Pacific and Latin America where energy and utility companies are increasingly shifting towards transforming their existing business models and focusing on providing real time digital services to customers.
Prominent players operating in the energy & utilities IoT market are General Electric Company, ABB Ltd., Siemens AG, Cisco Systems, Inc., Schneider Electric SA, Oracle Corporation, Aclara Technologies LLC, Open Systems International, Inc., IBM Corporation, and Wipro Limited. Major players in the market follow the strategy of investing substantial amount on research and development activities and introduction of application specific solutions to nullify completion.
Major Regions/Countries include:
This research report on IoT market in energy and utilities would be produced using first-hand market information gathered from industry experts and major participants across the value chain, during primary research. It would provide broad view of current market trends, growth factors and competitive analysis.