Internet of Things (IoT) Energy Market: Global Market Size, Industry Growth, Future Prospects, Opportunities and Forecast 2019-2025

The Internet of Things (IoT) energy market is anticipated to grow at a significant rate during the forecast period. IoT technology has been witnessing rising implementation in numerous end-user industries across the globe. The growing usage of IoT in the energy and utility sector for management of the infrastructures that provide essential community services including water, gas, and electricity is a major factor to drive the growth of the global IoT energy market. The application of IoT solutions and services offers energy and utility firms to take real-time information and connection with the end-point devices to capture data for further analysis. These firms are using these services to enhance their operational efficiency, reduce their maintenance costs, and to eliminate the energy trading risk factors.

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Moreover, IoT is being used in creating innovative grids that are expected to create profits for energy companies and customers. The IoT smart grids integrate the networking and computational ability and offer a flawless energy distribution and transmission. IoT integration services play a crucial role in the management and integration of complex and heterogeneous components that are used in the smart utilities. These services improve productivity in the field of energy and utilities. Therefore, the energy and utility application of IoT is gaining higher traction as many firms in this sector are adopting smart energy management systems and smart grid sensors to monitor and offer real-time insights. 

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IoT integration services enable the integration and management of the smart grid sensors that are used in the field of smart utilities. The utility of this service or solution ensures effective and efficient transmission of electricity. Improved security, reduced operations cost, reduced peak demand, and better integration of power generation systems are the other benefits offered by these services. In the production phase, these services ensure the right integration and deployment of required technology to improve operational efficiency. The growing application of IoT integration service is expected to drive the growth of the global IoT energy market.

Current Market Trends covered in the market report

• Shifting of the service-centric population to server-centric population
• North America held the major share in the cloud infrastructure service market
• Rising data security, privacy concerns with a lack of interconnectivity interoperability are the major factor to restrain the market growth
• Increasing spending on IoT in the oil and gas sector is expected to be a major opportunity for the market

Internet of Things (IoT) Energy Market Segmentation

By Solution Type

• Asset Maintenance
• Connected Logistics
• Monitoring and Management
• IoT Analytics
• Others

By End-User

• Oil & Gas
• Mining
• Wind
• Solar
• Others

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Internet of Things (IoT) Energy Market – Segment by Region 

North America           

• US
• Canada

Europe

• Germany
• UK
• France
• Spain
• Italy
• Rest of Europe

Asia-Pacific    

• China
• India
• Japan
• Rest of Asia-Pacific

Rest of the World

• Middle East & Africa
• Latin America

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Source: Internet of Things (IoT) Energy Market