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IoT Utilities - Market Research Report | Growth Forecast 2025

A new report on IoT Utilities market that provides a comprehensive review of this industry with respect to the driving forces influencing the market size. Comprising the current and future trends defining the dynamics of this industry vertical, this report also incorporates the regional landscape of IoT Utilities market in tandem with its competitive terrain.

The increasing need to enhance the operational efficiency in the utility sector is expected to boost the IoT utilities market growth. Increasing concerns to make the most effective use of energy in order to reduce the ever-increasing energy need contributes to the growth. The potential of IoT in the utility sector is huge owing to the benefits provided by these solutions such as gaining real-time visibility into every process in the facility.

IoT Utilities Market is set to exceed USD 15 billion by 2024; as per a new research report

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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 Research Report | Growth Forecast 2025
IoT Utilities - Market Research Report | Growth Forecast 2025

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Government initiatives for implement smart grid in countries such as India and China is expected to propel the IoT utilities market growth. The smart grid initiatives by Indian MNCs such as Crompton Greaves, North Delhi Power Limited lies lucrative growth opportunities. Smart grids can transform an electric power grid using IoT by integrating the devices, processes and the energy infrastructure into a more connected and collaborative process. It enables the generated energy to get distributed and consumed in a more efficient and timely manner resulting in enhanced reliability and security to the users.

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.

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.

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.

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.

Internet of Things in utility market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2013 to 2024, for the following segments:

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
Professional service
Managed service

IoT Utilities Market, By Application
Electricity grid management
Gas management
Water & waste management

Major Highlights from Table of contents are listed below for quick lookup into IoT Utilities Market report

Chapter 1. Methodology and Scope

  • Definitions & forecast parameters
  • Methodology and forecast parameters
  • Data Sources

Chapter 2. Executive Summary

  • Business trends of IoT Utilities Market
  • Product trends
  • Application trends

Chapter 3. IoT Utilities Industry Insights

  • IoT Utilities Market Industry segmentation
  • Industry landscape
  • Analysis of Manufacturers in the IoT Utilities industry
  • Distribution channel analysis
  • End-use landscape
  • Vendor matrix
  • IoT Utilities Market Technology & innovation landscape
  • Industry impact forces
  • IoT Utilities Market Growth drivers
  • Industry pitfalls & challenges
  • Key trends by Segments

Chapter 4. Company Profiles

  • Business Overview of IoT Utilities Market Companies
  • Financial Data
  • Product Landscape
  • Strategic Outlook and Decisive Analysis of companies in IoT Utilities Market
  • SWOT Analysis

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