IoT utilities Technology Market Size
The insufficiency of technically skilled workforce coupled with the lack of standards is expected to hinder the IoT utilities market growth. Growing incidents of cyber security breaches throughout the industries accessing highly sensitive information coupled with the lack of interoperability might pose a challenge to the IoT utilities market.
Increasing demand from users for remote monitoring of facilities for quick identification and restoration of any kind of leakage and faults is expected to give rise to the adoption of IoT solutions for gas management. Leakage in the facility assets such as pipelines might cause a large amount of destruction which can be avoided by using such advanced solutions.
IoT Utilities Market is set to exceed USD 15 billion by Market Size Forecasters Add New Global IoT Utilities Market by Manufacturers, Countries, Type and Application, Forecast to 2024 to its research database. The report presents a deep study of the market growth factors and drivers. The report spread across 145 pages with table and figures in it.
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Scope of the Report:
Increased demand for smart solutions in the energy sector in the U.S. will continue to bring demand for advanced solutions driving the growth. Moreover, advanced infrastructure of the country is increasing the demand for cloud solutions, which will further fuel consumption.
Asia Pacific IoT utilities market is expected to witness huge adoption owing to the rising demand for smart metering solutions and efforts to promote smart buildings & cities. The potential of smart meters to significantly reduce cost by improved outage management & easier payments and enhanced customer service are enabling huge growth opportunities in the region. Moreover, the rising use cases coupled with the presence of large number of gas & electricity production facilities and heavy investments to improve the energy infrastructure in the region is fueling the IoT utilities market growth.
Players operating in the IoT utilities market include Microsoft Corporation, Intel Corporation, Cisco Systems Inc., IBM Corporation and Huawei Technologies Co. Ltd. General Electric, Trilliant Inc., Osisoft LLC and Honeywell International Inc. are among the other prominent industry players. The industry is currently witnessing heavy investments on R&D for fully connected solutions by major players. IoT solutions are considered as a necessity for the utility industry eliminating the requirements for physical visits to monitor the assets, fault & leakage detection and restoration.
IoT Utilities Market, By Platform
Network Management, Device Management, Application Management
IoT Utilities Market, By Technology
Sensor, RFID, Connectivity technology, Others
IoT Utilities Market, By Component
Software, Data management, Streaming analytics, Security, Remote monitoring, Bandwidth management
Hardware, IoT Utilities Market, By Service
IoT Utilities Market, By Application
Electricity grid management
Water & waste management
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TABLE 1 IoT utilities industry 360 degree synopsis, 2013 – 2024
TABLE 2 Global IoT utilities market, 2013 – 2024, (USD Billion)
TABLE 3 Global IoT utilities market estimates by region, 2013 – 2024 (USD Billion)
TABLE 4 Global IoT utilities market estimates by platform, 2013 – 2024 (USD Billion)
TABLE 5 Global IoT utilities market estimates by technology, 2013 – 2024 (USD Billion)
TABLE 6 Global IoT utilities market estimates by service, 2013 – 2024 (USD Billion)
TABLE 7 Global IoT utilities market estimates by component, 2013 – 2024 (USD Billion)
TABLE 8 Global IoT utilities market estimates by application, 2013 – 2024 (USD Billion)
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