Evolve Business Intelligence
The Internet of Things (IoT) in the Energy market is poised for significant growth, with a market size of US$ 22.10 billion in 2023 and a projected compound annual growth rate (CAGR) of 11.38% from 2023 to 2033. This robust growth is primarily driven by advancements in smart grid technologies, which enable efficient energy management, real-time monitoring, and predictive maintenance. These technologies are transforming the energy sector by optimizing resource usage, reducing operational costs, and enhancing grid reliability. However, the market faces challenges, particularly the perception of data security risks and the high initial costs associated with IoT implementation. These concerns can deter some energy companies from adopting IoT solutions, despite their long-term benefits. Opportunities abound in the development of smart grids, which promise to revolutionize the energy sector. Smart grids integrate IoT technologies to create more resilient and flexible energy systems, capable of managing demand more effectively and incorporating renewable energy sources. This integration not only improves efficiency but also supports sustainability goals, making the development of smart grids a critical opportunity for growth in the IoT in the Energy market. As these technologies continue to evolve, they are expected to drive significant advancements and adoption across the energy industry.
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The report includes 10 key players in the Internet of Things (IoT) in Energy market ecosystem that have been strategically profiled, along with the market ranking/share for major players. The key players profiled in the report are:
• IBM
• Actility
• ABB
• SAP
• Cisco Systems
• Siemens
• Intel
• AGT International
• Davra Networks
• smartGAS
The competitive landscape of the Internet of Things (IoT) in the Energy market is characterized by the presence of several key players who are driving innovation and growth through advanced technological solutions. Notable companies in this space include IBM, Actility, ABB, SAP, Cisco Systems, Siemens, Intel, AGT International, Davra Networks, and smartGAS. IBM and SAP are leveraging their strong expertise in software and analytics to provide comprehensive IoT solutions that enhance energy management and operational efficiency. Cisco Systems and Intel are contributing through their cutting-edge hardware and networking solutions, enabling robust IoT infrastructures. ABB and Siemens are integrating IoT with their extensive industrial and automation capabilities to offer smart grid and energy management solutions. Actility focuses on IoT connectivity platforms, facilitating seamless communication between devices in energy systems. AGT International and Davra Networks provide specialized IoT platforms that offer advanced data analytics and management capabilities. smartGAS offers innovative gas sensor solutions, contributing to safer and more efficient energy operations. These companies are at the forefront of developing and implementing IoT technologies in the energy sector, addressing the industry’s need for improved efficiency, reliability, and sustainability. Their efforts are crucial in overcoming challenges related to data security and high initial costs, driving the adoption and growth of IoT solutions in the energy market. As the market evolves, these key players are expected to continue leading innovation, fostering advancements that will shape the future of energy management and smart grid technologies.
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Market Segment By Service with focus on market share, consumption trend, and growth rate of Internet of Things (IoT) in Energy Market:
o Consulting
o Integration and Deployment
o Support and Maintenance
o Others
Market Segment By Solution with focus on market share, consumption trend, and growth rate of Internet of Things (IoT) in Energy Market:
o Asset Management
o Safety
o Connected Logistics
o Compliance and Risk Management
o Data Management and Analytics
o SCADA
o Mobile Workforce Management
o Neywork Management
o Energy Management
o Others
Market Segment By application with focus on market share, consumption trend, and growth rate of Internet of Things (IoT) in Energy Market:
o Oil and Gas
o Coal Mining
o Smart Grid
o Others
Market Segment By network technology with a focus on market share, consumption trend, and growth rate of Internet of Things (IoT) in Energy Market:
o Cellular Network
o Satellite Network
o Radio Network
o Others
Global Internet of Things (IoT) in Energy Geographic Coverage:
• North America
o US
o Canada
o Mexico
• Europe
o UK
o Germany
o France
o Italy
o Spain
o Benelux
o Nordic
o Rest of Europe
• Asia Pacific
o China
o Japan
o South Korea
o Indonesia
o Austalia
o Malaysia
o India
o Rest of Asia Pacific
• South America
o Brazil
o Argentina
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Egypt
o South Africa
o Rest of the Middle East & Africa
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Key Matrix for Latest Report Update
• Base Year: 2023
• Estimated Year: 2024
• CAGR: 2024 to 2034
About EvolveBI
Evolve Business Intelligence is a market research, business intelligence, and advisory firm providing innovative solutions to challenging pain points of a business. Our market research reports include data useful to micro, small, medium, and large-scale enterprises. We provide solutions ranging from mere data collection to business advisory.
Evolve Business Intelligence is built on account of technology advancement providing highly accurate data through our in-house AI-modelled data analysis and forecast tool – EvolveBI. This tool tracks real-time data including, quarter performance, annual performance, and recent developments from fortune’s global 2000 companies.
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Evolve Business Intelligence is a market research, business intelligence, and advisory firm providing innovative solutions to challenging pain points of a business. Our market research reports include data useful to micro, small, medium, and large-scale enterprises. We provide solutions ranging from mere data collection to business advisory.
Evolve Business Intelligence is built on account of technology advancement providing highly accurate data through our in-house AI-modelled data analysis and forecast tool – EvolveBI. This tool tracks real-time data including, quarter performance, annual performance, and recent developments from Fortune’s global 2000 companies.
This release was published on openPR.