Internet of Things (IoT) in Energy Market is Expected to Grow at a CAGR of 17.3% by 2027, Owing to the Growing Investments by Enterprises Aiming to Enter the IoT in Energy Sector: Says Absolute Markets Insights

Companies operating in the energy sector are increasingly investing on IoT technology to improve performance, eliminate uncertainties and discover maintenance issues in real time. As per statistics from TCS, energy companies have spent more than USD 70 million towards IoT in 2015 which is expected to increase over the consecutive years. The investments are primarily being undertaken in production monitoring, distribution operations and premises monitoring. With investments in supply chain monitoring being highest amongst others, Internet of things (IoT) in energy market is expected to grow at a CAGR of 17.3% during the forecasted period (2019 – 2027).

Global companies are exploring acquisition and partnerships with start-ups who are combining technology and data driven insights for sectoral disruption. For instance, a Hero Group company, Hero Electronix, acquired Zenatix, a provider of IoT based energy monitoring and control products, to assist in their geographical expansion strategies. Furthermore, through this expansion, the company has expanded its operations in the Internet-of-things (IoT) space. On similar lines, Hitachi has invested into startup Flutura, which focuses on machine to machine and big data analytics for IoT applications, to supplement and strengthen their existing offerings in the high-tech solution space. Hence, the strategic initiatives being undertaken by existing participants and potential investors into the internet of things (IoT) in energy market is anticipated to influence the market growth in the forecast period.

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“Several deals among energy companies and startups are marking the wave of consolidations and acquisitions in the IoT in energy market. The technologically advanced startups, equipped with novel solutions, are being acquired and funded by large corporations, with an objective to expand their portfolio and business operations. Thus, the on-going and up-coming strategic developments in the industry, are expected to steer the growth of internet of things (IoT) in energy market.

The detailed research study provides qualitative and quantitative analysis of internet of things (IoT) in energy market. The market has been analyzed from demand as well as supply side. The geographical analysis emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East, Africa and Latin America.

Some of the players operating in the internet of things (IoT) in energy market are Accenture, Actility, Altair Engineering, Inc., Cisco Systems, Inc., Flutura, IBM Corporation, Intel, Meazon, Northwest Analytics, Inc., PingThings, SAP SE, Schneider Electric, Siemens, SYMBOTICWARE INC, Telit and Wind River Systems, Inc.

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By Offerings

  • Hardware
  • Software
  • Services

By Network Technology

  • Cellular Network
  • Satellite Network
  • Radio Network

By Application

  • Energy Management
  • Power Distribution
  • Mobile Workforce Management
  • Asset and Equipment Monitoring
  • Field Surveillance
  • Others

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Nordic Countries
      • Denmark
      • Finland
      • Iceland
      • Norway
      • Sweden
    • The Benelux Union
      • Belgium
      • The Netherlands
      • Luxemburg
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • New Zealand
    • South Korea
    • Southeast Asia
      • Indonesia
      • Thailand
      • Malaysia
      • Singapore
      • Rest of Southeast Asia
    • Rest of Asia Pacific
  • Middle East and Africa
    • Saudi Arabia
    • Egypt
    • Kuwait
    • South Africa
    • Rest of Middle East and Africa
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America

 

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