IoT in Utilities Market Analysis and Forecast to 2032: By Component (Solutions, Services, Platform), Application (Water and Wastewater Management, Utility Gas Management, Electricity Grid Management), and Region

Published Date : August, 2023 Report Code : GIS23727 Number of Pages: 312
Industry : Technology, Media, & Telecom Publication Status : Published

The IoT in Utilities Market Market size was USD 41.8 Billion in 2022 and it is anticipated to grow over USD 92.9 Billion by 2032, at a CAGR of over 7.8% during the forecast period.

Internet of Things has introduced a lot of benefits into the utility industry. Smart technologies help in utilities management, offer remote control options, increase safety, reduce costs, as well as help solve the problem of resource depletion faced by all regions of our planet. To rationalize the management of assets, utilities companies partner with providers and try to get the most of IoT, big data and machine learning technologies. There is still a lot of space for improvement when it comes to the right approach to allocation and preserving of resources. With the emergence of smart cities, innovations such as IoT power grids, water meters, and cutting-edge techniques for generation and transportation of energy have appeared. The extensive application of IoT in the utilities sector is an opportunity to monitor and manage energy more effectively, reduce energy waste, and, ultimately, improve safety and operational efficiency along with allowing for an economical use of natural resources. With possibilities for predictive management, stable and safe transmission of energy is now possible.

Key Drivers & Trends

The key drivers of the IoT in Utilities market are the need for improved operational efficiency, the need for improved asset management, the need for improved customer service, and the need for improved sustainability. Operational efficiency is a key driver for the IoT in Utilities market as utilities look to improve their overall performance. The IoT can help utilities to reduce their energy consumption, lower their maintenance costs, and improve their overall efficiency. Asset management is another key driver for the IoT in Utilities market as utilities seek to improve the management of their assets. The IoT can help utilities to track their assets, monitor their performance, and make better decisions about their maintenance and replacement. Customer service is another key driver for the IoT in Utilities market as utilities seek to improve the way they interact with their customers. The IoT can help utilities to provide better information to their customers, improve the way they respond to customer inquiries, and make it easier for customers to access their services. Sustainability is another key driver for the IoT in Utilities market as utilities seek to reduce their impact on the environment. The IoT can help utilities to reduce their emissions, improve their water management, and make their operations more sustainable.

Key Restraints & Challenges

Several industries are investing in smart technologies to replace legacy systems with automated asset management solutions. However, owing to the high-power consumption of systems, the demand for loT in utilities is suffering consistently. Although these asset management systems require multiple devices, software, and services from plentiful vendors, this, in turn, restrains the market expansion. Apart from this, IoT solutions can be expensive or infeasible to execute because of the gigantic area the asset needs to travel. The foremost challenge is linking remote sensors wirelessly to the internet across a range of sites, both indoors and outdoors even across diverse economies. This aspect is likely to hamper the market growth of the loT in Utilities during the forecast period. Besides, the swelling demands and shortage of labor across the world, agriculture robots or commonly known as Agribots are starting to gain attention among farmers. Recent developments in sensors and Al technology have made these robots more notable. Although the technology is still in the early stages and yet to harness the full potential of loT in agriculture, the manufacturers are making hefty investments since they are witnessing positive responses all over the world.

Market Segments

The IoT in Utilities Market has been segmented into Component, Application, and Region. On the basis of Component, it is segmented into Solutions, Services, and Platform. Based on Application, the market is segmented into Water and Wastewater Management, Utility Gas Management, and Electricity Grid Management. Region-wise, it is studied across North America, Europe, Asia Pacific, and Rest of the World.

Key Players

The IoT in Utilities Market report includes players such as Oracle Corporation (US), Cisco Systems, Inc. (US), Huawei Technologies Co., Ltd. (China), IBM Corporation (US), Itron Inc. (US), Schneider Electric (France), Siemens (Germany), Telit (US), Verizon (US), and Vodafone Limited (UK).

Why GIS?

Table of Contents

Chapter 1. IoT in Utilities Market Overview
1.1. Objectives of the Study
1.2. Market Definition and Research & Scope
1.3. Research Limitations
1.4. Research Methodologies
1.4.1. Secondary Research
1.4.2. Market Size Estimation Technique
1.4.3. Forecasting
1.4.4. Primary Research and Data Validation

Chapter 2. Executive Summary
2.1. Summary
2.2. Key Highlights of the Market

Chapter 3. Premium Insights on the Market
3.1. Market Attractiveness Analysis, By Region
3.2. Market Attractiveness Analysis, By Component
3.3. Market Attractiveness Analysis, By Application

Chapter 4. IoT in Utilities Market Outlook
4.1. IoT in Utilities Market Segmentation
4.2. Market Dynamics
4.2.1. Market Drivers
4.2.1.1. Driver 1
4.2.1.2. Driver 2
4.2.1.3. Driver 3
4.2.2. Market Restraints
4.2.2.1. Restraint 1
4.2.2.2. Restraint 2
4.2.3. Market Opportunities
4.2.3.1. Opportunity 1
4.2.3.2. Opportunity 2
4.3. Porter’s Five Forces Analysis
4.3.1. Threat of New Entrants
4.3.2. Threat of Substitutes
4.3.3. Bargaining Power of Buyers
4.3.4. Bargaining Power of Supplier
4.3.5. Competitive Rivalry
4.4. PESTLE Analysis
4.5. Value Chain Analysis
4.5.1. Raw Material Suppliers
4.5.2. Manufacturers
4.5.3. Wholesalers and/or Retailers
4.6. Impact of COVID-19 on the IoT in Utilities Market
4.7. Impact of the Russia and Ukraine War on the IoT in Utilities Market
4.8. Case Study Analysis
4.9. Pricing Analysis

Chapter 5. IoT in Utilities Market, By Component
5.1. Market Overview
5.2. Solutions
5.2.1. Key Market Trends & Opportunity Analysis
5.2.2. Market Size and Forecast, By Region
5.2.3. Market Size and Forecast, By Sub-segments
5.2.3.1. Asset Monitoring Management
5.2.3.2. Safety and Security
5.2.3.3. Supervisory Control and Data Acquisition (SCADA)
5.2.3.4. Workforce Management
5.2.3.5. Network Management
5.2.3.6. Customer Information System (CIS) and Billing System
5.3. Services
5.3.1. Key Market Trends & Opportunity Analysis
5.3.2. Market Size and Forecast, By Region
5.3.3. Market Size and Forecast, By Sub-segments
5.3.3.1. Consulting
5.3.3.2. Integration and Deployment
5.3.3.3. Support and Maintenance
5.4. Platform

Chapter 6. IoT in Utilities Market, By Application
6.1. Market Overview
6.2. Water and Wastewater Management
6.2.1. Key Market Trends & Opportunity Analysis
6.2.2. Market Size and Forecast, By Region
6.3. Utility Gas Management
6.3.1. Key Market Trends & Opportunity Analysis
6.3.2. Market Size and Forecast, By Region
6.4. Electricity Grid Management
6.4.1. Key Market Trends & Opportunity Analysis
6.4.2. Market Size and Forecast, By Region

Chapter 7. IoT in Utilities Market, by Region
7.1. Overview
7.2. North America
7.2.1. Key Market Trends and Opportunities
7.2.2. North America IoT in Utilities Market Size and Forecast, by Component
7.2.3. North America IoT in Utilities Market Size and Forecast, by Application
7.2.4. North America IoT in Utilities Market Size and Forecast, by Country
7.2.5. The U.S.
7.2.5.1. The U.S. IoT in Utilities Market Size and Forecast, by Component
7.2.5.2. The U.S. IoT in Utilities Market Size and Forecast, by Application
7.2.6. Canada
7.2.6.1. Canada IoT in Utilities Market Size and Forecast, by Component
7.2.6.2. Canada IoT in Utilities Market Size and Forecast, by Application
7.2.7. Mexico
7.2.7.1. Mexico IoT in Utilities Market Size and Forecast, by Component
7.2.7.2. Mexico IoT in Utilities Market Size and Forecast, by Application
7.3. Europe
7.3.1. Key Market Trends and Opportunities
7.3.2. Europe IoT in Utilities Market Size and Forecast, by Component
7.3.3. Europe IoT in Utilities Market Size and Forecast, by Application
7.3.4. Europe IoT in Utilities Market Size and Forecast, by Country
7.3.5. The U.K.
7.3.5.1. The U.K. IoT in Utilities Market Size and Forecast, by Component
7.3.5.2. The U.K. IoT in Utilities Market Size and Forecast, by Application
7.3.6. Germany
7.3.6.1. Germany IoT in Utilities Market Size and Forecast, by Component
7.3.6.2. Germany IoT in Utilities Market Size and Forecast, by Application
7.3.7. France
7.3.7.1. France IoT in Utilities Market Size and Forecast, by Component
7.3.7.2. France IoT in Utilities Market Size and Forecast, by Application
7.3.8. Spain
7.3.8.1. Spain IoT in Utilities Market Size and Forecast, by Component
7.3.8.2. Spain IoT in Utilities Market Size and Forecast, by Application
7.3.9. Italy
7.3.9.1. Italy IoT in Utilities Market Size and Forecast, by Component
7.3.9.2. Italy IoT in Utilities Market Size and Forecast, by Application
7.3.10. Netherlands
7.3.10.1. Netherlands IoT in Utilities Market Size and Forecast, by Component
7.3.10.2. Netherlands IoT in Utilities Market Size and Forecast, by Application
7.3.11. Sweden
7.3.11.1. Sweden IoT in Utilities Market Size and Forecast, by Component
7.3.11.2. Sweden IoT in Utilities Market Size and Forecast, by Application
7.3.12. Switzerland
7.3.12.1. Switzerland IoT in Utilities Market Size and Forecast, by Component
7.3.12.2. Switzerland IoT in Utilities Market Size and Forecast, by Application
7.3.13. Denmark
7.3.13.1. Denmark IoT in Utilities Market Size and Forecast, by Component
7.3.13.2. Denmark IoT in Utilities Market Size and Forecast, by Application
7.3.14. Finland
7.3.14.1. Finland IoT in Utilities Market Size and Forecast, by Component
7.3.14.2. Finland IoT in Utilities Market Size and Forecast, by Application
7.3.15. Russia
7.3.15.1. Russia IoT in Utilities Market Size and Forecast, by Component
7.3.15.2. Russia IoT in Utilities Market Size and Forecast, by Application
7.3.16. Rest of Europe
7.3.16.1. Rest of Europe IoT in Utilities Market Size and Forecast, by Component
7.3.16.2. Rest of Europe IoT in Utilities Market Size and Forecast, by Application
7.4. Asia-Pacific
7.4.1. Key Market Trends and Opportunities
7.4.2. Asia-Pacific IoT in Utilities Market Size and Forecast, by Country
7.4.3. Asia-Pacific IoT in Utilities Market Size and Forecast, by Component
7.4.4. Asia-Pacific IoT in Utilities Market Size and Forecast, by Application
7.4.5. China
7.4.5.1. China IoT in Utilities Market Size and Forecast, by Component
7.4.5.2. China IoT in Utilities Market Size and Forecast, by Application
7.4.6. India
7.4.6.1. India IoT in Utilities Market Size and Forecast, by Component
7.4.6.2. India IoT in Utilities Market Size and Forecast, by Application
7.4.7. Japan
7.4.7.1. Japan IoT in Utilities Market Size and Forecast, by Component
7.4.7.2. Japan IoT in Utilities Market Size and Forecast, by Application
7.4.8. South Korea
7.4.8.1. South Korea IoT in Utilities Market Size and Forecast, by Component
7.4.8.2. South Korea IoT in Utilities Market Size and Forecast, by Application
7.4.9. Australia
7.4.9.1. Australia IoT in Utilities Market Size and Forecast, by Component
7.4.9.2. Australia IoT in Utilities Market Size and Forecast, by Application
7.4.10. Singapore
7.4.10.1. Singapore IoT in Utilities Market Size and Forecast, by Component
7.4.10.2. Singapore IoT in Utilities Market Size and Forecast, by Application
7.4.11. Indonesia
7.4.11.1. Indonesia IoT in Utilities Market Size and Forecast, by Component
7.4.11.2. Indonesia IoT in Utilities Market Size and Forecast, by Application
7.4.12. Taiwan
7.4.12.1. Taiwan IoT in Utilities Market Size and Forecast, by Component
7.4.12.2. Taiwan IoT in Utilities Market Size and Forecast, by Application
7.4.13. Malaysia
7.4.13.1. Malaysia IoT in Utilities Market Size and Forecast, by Component
7.4.13.2. Malaysia IoT in Utilities Market Size and Forecast, by Application
7.4.14. Rest of APAC
7.4.14.1. Rest of APAC IoT in Utilities Market Size and Forecast, by Component
7.4.14.2. Rest of APAC IoT in Utilities Market Size and Forecast, by Application
7.5. Rest of The World
7.5.1. Key Market Trends and Opportunities
7.5.2. Rest of The World IoT in Utilities Market Size and Forecast, by Component
7.5.3. Rest of The World IoT in Utilities Market Size and Forecast, by Application
7.5.4. Rest of The World IoT in Utilities Market Size and Forecast, by Country
7.5.5. Latin America
7.5.5.1. Latin America IoT in Utilities Market Size and Forecast, by Component
7.5.5.2. Latin America IoT in Utilities Market Size and Forecast, by Application
7.5.6. Middle East
7.5.6.1. Middle East IoT in Utilities Market Size and Forecast, by Component
7.5.6.2. Middle East IoT in Utilities Market Size and Forecast, by Application
7.5.7. Africa
7.5.7.1. Africa IoT in Utilities Market Size and Forecast, by Component
7.5.7.2. Africa IoT in Utilities Market Size and Forecast, by Application

Chapter 8. Competitive Landscape
8.1. Market Overview
8.2. Market Share Analysis/Key Player Positioning
8.3. Developmental Strategy Benchmarking
8.3.1. New Product Development
8.3.2. Product Launches
8.3.3. Business Expansions
8.3.4. Partnerships, Joint Ventures, And Collaborations
8.3.5. Mergers And Acquisitions

Chapter 9. Company Profiles
9.1. Oracle Corporation (US)
9.1.1. Company Snapshot
9.1.2. Financial Performance
9.1.3. Product offerings
9.1.4. Key Strategic Initiatives
9.1.5. SWOT Analysis
9.2. Cisco Systems, Inc. (US)
9.2.1. Company Snapshot
9.2.2. Financial Performance
9.2.3. Product offerings
9.2.4. Key Strategic Initiatives
9.2.5. SWOT Analysis
9.3. Huawei Technologies Co., Ltd. (China)
9.3.1. Company Snapshot
9.3.2. Financial Performance
9.3.3. Product offerings
9.3.4. Key Strategic Initiatives
9.3.5. SWOT Analysis
9.4. IBM Corporation (US)
9.4.1. Company Snapshot
9.4.2. Financial Performance
9.4.3. Product offerings
9.4.4. Key Strategic Initiatives
9.4.5. SWOT Analysis
9.5. Itron Inc. (US)
9.5.1. Company Snapshot
9.5.2. Financial Performance
9.5.3. Product offerings
9.5.4. Key Strategic Initiatives
9.5.5. SWOT Analysis
9.6. Schneider Electric (France)
9.6.1. Company Snapshot
9.6.2. Financial Performance
9.6.3. Product offerings
9.6.4. Key Strategic Initiatives
9.6.5. SWOT Analysis
9.7. Siemens (Germany)
9.7.1. Company Snapshot
9.7.2. Financial Performance
9.7.3. Product offerings
9.7.4. Key Strategic Initiatives
9.7.5. SWOT Analysis
9.8. Telit (US)
9.8.1. Company Snapshot
9.8.2. Financial Performance
9.8.3. Product offerings
9.8.4. Key Strategic Initiatives
9.8.5. SWOT Analysis
9.9. Verizon (US)
9.9.1. Company Snapshot
9.9.2. Financial Performance
9.9.3. Product offerings
9.9.4. Key Strategic Initiatives
9.9.5. SWOT Analysis
9.10. Vodafone Limited (UK)
9.10.1. Company Snapshot
9.10.2. Financial Performance
9.10.3. Product offerings
9.10.4. Key Strategic Initiatives
9.10.5. SWOT Analysis
*The List of Company Is Subject To Change During The Final Compilation of The Report

Market Segments

By Component

  • Solutions
    • Asset Monitoring Management
    • Safety and Security
    • Supervisory Control and Data Acquisition (SCADA)
    • Workforce Management
    • Network Management
    • Customer Information System (CIS) and Billing System
  • Services
    • Consulting
    • Integration and Deployment
    • Support and Maintenance
  • Platform

By Application

  • Water and Wastewater Management
  • Utility Gas Management
  • Electricity Grid Management

By Region

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • The U.K.
    • Germany
    • France
    • Spain
    • Italy
    • Netherlands
    • Sweden
    • Switzerland
    • Denmark
    • Finland
    • Russia
    • Rest of Europe
  • The Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
    • Australia
    • Singapore
    • Indonesia
    • Taiwan
    • Malaysia
    • Rest of Asia-Pacific
  • Rest of the World
    • Latin America
    • The Middle East
    • Africa
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