The Internet of things (IoT) is the network of physical devices, vehicles, home appliances, and other items embedded with electronics, software, sensors, actuators, and connectivity which enables these things to connect, collect and exchange data,creating opportunities for more direct integration of the physical world into computer-based systems, resulting in efficiency improvements, economic benefits, and reduced human exertions.The utility industry continues to face difficulty related to the complexity and high costs associated with maintaining their assets. Increasing incidents of cyber threats poses significant challenge to the industry growth. IoT technology is witnessing huge adoption in industries to remote monitoring of assets, pre-identification of faults and restoring without actually visiting the facility. Also, the implementation of the technology for electricity grid management is helping the companies to achieve their goals of efficiency, reliability and environmental responsibility.
When the utility industry adopts IoT, it is creating new opportunities to connect with the consumer, with the grid, and with the world. Suddenly there is an influx of data streaming into the utility that they can harness to make decisions. For example, companies can utilize home automation to monitor consumer use, then adjust access as necessary. They can gather information on how to deliver services, manage infrastructure, and continue to meet consumer needs.
In 2017, the global IoT Utilities market size was 4000 million US$ and it is expected to reach 4000 million US$ by the end of 2025, with a CAGR of xx% during 2018-2025.
This report focuses on the global IoT Utilities status, future forecast, growth opportunity, key market and key players. The study objectives are to present the IoT Utilities development in United States, Europe and China.
The key players covered in this study
Bosch Software Innovations GmbH
Cisco Systems Inc.
Honeywell International Inc.
Huawei Technologies Co. Ltd.
Market segment by Type, the product can be split into
Market segment by Application, split into
Electricity Grid Management
Water and Waste Management
Market segment by Regions/Countries, this report covers
Central & South America
The study objectives of this report are:
To analyze global IoT Utilities status, future forecast, growth opportunity, key market and key players.
To present the IoT Utilities development in United States, Europe and China.
To strategically profile the key players and comprehensively analyze their development plan and strategies.
To define, describe and forecast the market by product type, market and key regions.
In this study, the years considered to estimate the market size of IoT Utilities are as follows:
History Year: 2013-2017
Base Year: 2017
Estimated Year: 2018
Forecast Year 2018 to 2025
For the data information by region, company, type and application, 2017 is considered as the base year. Whenever data information was unavailable for the base year, the prior year has been considered.