IoT in Utility market forecast to grow at a CAGR of more than 18 Percent
Published on : Tuesday 10-12-2019
The report predicts that the global IoT in utility market will grow at a CAGR of more than 18% during the forecast period 2019-2025.
Dublin, December 2019 – The ‘IoT in Utility Market By Component, By Application, By Region – Global Forecast up to 2025’ report has been added to ResearchAndMarkets.com's offering.
The report predicts that the global IoT in utility market will grow at a CAGR of more than 18% during the forecast period 2019-2025. The market for IoT in utility is determined by the increased interest among consumers to optimise and monitor the usage of electricity and water services, among others.
IoT in utility is poised to transform the utility industry in terms of energy distribution and usage. With a focus on analytics and AI, IoT is leveraging the power of data to make informed decisions that help in minimising costs.
The report covers and analyses the global IoT in utility market. The key players are adopting various organic as well as inorganic growth strategies such as collaborations & partnerships, joint ventures, and few other strategies to be in a strong position in the market.
Few of the Key Vendors in the IoT in Utility Market are: PingThings, Itron, Actility, Trilliant, and Smappee. There are few other vendors that have been analysed based on their portfolio, geographical presence, marketing & distribution channels, revenue generation, and significant investments in R&D for analysis of the entire ecosystem.
The report provides an in-depth analysis of the global IoT in utility market. IoT in utility combines various technologies for improving, improvising, and offer better results to deliver. It analyses customer touchpoints, network, and operational faults in systems and notifies in case of any failures.
A number of emerging vendors are entering the market with a focus on leveraging IoT applications, and the leading IoT vendors, i.e., Schneider Electric and Siemens, are focusing on IoT platform and integration capabilities. The intelligent integration of building automation systems (BAS) and energy management systems is driving the growth of the IoT in utility market.