IoT in Utilities Market Insights and Growth by 2031
The IoT in Utilities Market is expected to register a CAGR of 9.3% from 2024 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The report is segmented By Component (Hardware, Software, Services), Deployment (On-premise, Cloud), Connectivity (Zigbee, Wi-Fi, Bluetooth, Z-Wave, Others), Application (Smart Meters, Smart Grid, Energy Management Systems, Water Management, Waste Management, Others). The global analysis is further broken-down at regional level and major countries. The report offers the value in USD for the above analysis and segments
Purpose of the ReportThe report IoT in Utilities Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
IoT in Utilities Market Segmentation
Component- Hardware
- Software
- Services
- On-premise
- Cloud
- Zigbee
- Wi-Fi
- Bluetooth
- Z-Wave
- Smart Meters
- Smart Grid
- Energy Management Systems
- Water Management
- Waste Management
Strategic Insights
IoT in Utilities Market Growth Drivers- Smart Grid Modernization: Aging infrastructure and the need for real-time monitoring are compelling utilities to adopt IoT technologies. By integrating advanced sensors and communication networks, utilities can enhance grid reliability, reduce operational costs, and improve overall energy distribution efficiency.
- Renewable Energy Integration: IoT enables seamless integration of decentralized renewable energy sources into the grid. Smart meters, predictive analytics, and real-time monitoring help utilities balance intermittent renewable generation, optimize energy storage, and manage complex, distributed energy ecosystems more effectively.
- Predictive Maintenance and Asset Management:IoT-powered predictive maintenance is revolutionizing utility asset management. By deploying interconnected sensors on critical infrastructure like transformers, transmission lines, and generators, utilities can predict equipment failures, schedule maintenance proactively, and significantly reduce unplanned downtime and repair costs.
- Water Management and Leak Detection: IoT is transforming water management by providing real-time monitoring of water quality, pressure, and flow in pipelines. IoT sensors can detect leaks, inefficiencies, and contamination, enabling utilities to respond quickly to minimize waste and reduce operational costs. These smart systems also help in managing water distribution in drought-prone areas by optimizing usage. The growing need for sustainable water management, combined with the increasing awareness of water scarcity, is driving the adoption of IoT solutions in utilities, particularly for leak detection and water conservation.
- Enhanced Customer Engagement: IoT technologies offer unprecedented opportunities for utilities to transform customer interactions. Smart meters and personalized energy management platforms enable real-time consumption insights, empowering consumers to make informed decisions about energy usage and supporting more sustainable consumption patterns.
- Cybersecurity and Resilience:As utilities become increasingly digital, IoT presents a critical opportunity to develop robust cybersecurity frameworks. Advanced threat detection systems, encrypted communication protocols, and AI-driven security analytics can help utilities protect critical infrastructure from evolving digital risks and ensure grid resilience.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the IoT in Utilities Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the IoT in Utilities Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
Some of the customization options available based on the request are an additional 3–5 company profiles and country-specific analysis of 3–5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation# as our team would review the same and check the feasibility
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request
Predictive maintenance and asset management to play a significant role in the global IoT in utilities market in the coming years
Smart grid modernization and renewable energy integration are the majors factor driving the IoT in utilitiesmarket
The global IoT in utilitiesmarket is expected to grow at a CAGR 9.3% during the forecast period 2024 - 2031
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 IoT In Utilities Market - By Component
1.3.2 IoT In Utilities Market - By Application
1.3.3 IoT In Utilities Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. IOT IN UTILITIES MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PORTER'S FIVE FORCES ANALYSIS
4.2.1 Bargaining Power of Buyers
4.2.1 Bargaining Power of Suppliers
4.2.1 Threat of Substitute
4.2.1 Threat of New Entrants
4.2.1 Competitive Rivalry
4.3. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. IOT IN UTILITIES MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. IOT IN UTILITIES MARKET - GLOBAL MARKET ANALYSIS
6.1. IOT IN UTILITIES - GLOBAL MARKET OVERVIEW
6.2. IOT IN UTILITIES - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. IOT IN UTILITIES MARKET - REVENUE AND FORECASTS TO 2028 - COMPONENT
7.1. OVERVIEW
7.2. COMPONENT MARKET FORECASTS AND ANALYSIS
7.3. PLATFORM
7.3.1. Overview
7.3.2. Platform Market Forecast and Analysis
7.3.3. Network Management Market
7.3.3.1. Overview
7.3.3.2. Network Management Market Forecast and Analysis
7.3.4. Device Management Market
7.3.4.1. Overview
7.3.4.2. Device Management Market Forecast and Analysis
7.3.5. Application Management Market
7.3.5.1. Overview
7.3.5.2. Application Management Market Forecast and Analysis
7.4. SOLUTIONS
7.4.1. Overview
7.4.2. Solutions Market Forecast and Analysis
7.4.3. Asset Monitoring Management Market
7.4.3.1. Overview
7.4.3.2. Asset Monitoring Management Market Forecast and Analysis
7.4.4. Safety and Security Market
7.4.4.1. Overview
7.4.4.2. Safety and Security Market Forecast and Analysis
7.4.5. Supervisiory Control and Data Acquisition (SCADA) Market
7.4.5.1. Overview
7.4.5.2. Supervisiory Control and Data Acquisition (SCADA) Market Forecast and Analysis
7.4.6. Workforce Management Market
7.4.6.1. Overview
7.4.6.2. Workforce Management Market Forecast and Analysis
7.4.7. Customer Information System (CIS) and Billing System Market
7.4.7.1. Overview
7.4.7.2. Customer Information System (CIS) and Billing System Market Forecast and Analysis
7.5. SERVICE
7.5.1. Overview
7.5.2. Service Market Forecast and Analysis
7.5.3. Consulting Market
7.5.3.1. Overview
7.5.3.2. Consulting Market Forecast and Analysis
7.5.4. Integration and Deployment Market
7.5.4.1. Overview
7.5.4.2. Integration and Deployment Market Forecast and Analysis
7.5.5. Support and Maintenance Market
7.5.5.1. Overview
7.5.5.2. Support and Maintenance Market Forecast and Analysis
8. IOT IN UTILITIES MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. WATER AND WASTEWATER MANAGEMENT
8.3.1. Overview
8.3.2. Water and Wastewater Management Market Forecast and Analysis
8.4. UTILITY GAS MANAGEMENT
8.4.1. Overview
8.4.2. Utility Gas Management Market Forecast and Analysis
8.5. ELECTRICITY GRID MANAGEMENT
8.5.1. Overview
8.5.2. Electricity Grid Management Market Forecast and Analysis
9. IOT IN UTILITIES MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America IoT In Utilities Market Overview
9.1.2 North America IoT In Utilities Market Forecasts and Analysis
9.1.3 North America IoT In Utilities Market Forecasts and Analysis - By Component
9.1.4 North America IoT In Utilities Market Forecasts and Analysis - By Application
9.1.5 North America IoT In Utilities Market Forecasts and Analysis - By Countries
9.1.5.1 United States IoT In Utilities Market
9.1.5.1.1 United States IoT In Utilities Market by Component
9.1.5.1.2 United States IoT In Utilities Market by Application
9.1.5.2 Canada IoT In Utilities Market
9.1.5.2.1 Canada IoT In Utilities Market by Component
9.1.5.2.2 Canada IoT In Utilities Market by Application
9.1.5.3 Mexico IoT In Utilities Market
9.1.5.3.1 Mexico IoT In Utilities Market by Component
9.1.5.3.2 Mexico IoT In Utilities Market by Application
9.2. EUROPE
9.2.1 Europe IoT In Utilities Market Overview
9.2.2 Europe IoT In Utilities Market Forecasts and Analysis
9.2.3 Europe IoT In Utilities Market Forecasts and Analysis - By Component
9.2.4 Europe IoT In Utilities Market Forecasts and Analysis - By Application
9.2.5 Europe IoT In Utilities Market Forecasts and Analysis - By Countries
9.2.5.1 Germany IoT In Utilities Market
9.2.5.1.1 Germany IoT In Utilities Market by Component
9.2.5.1.2 Germany IoT In Utilities Market by Application
9.2.5.2 France IoT In Utilities Market
9.2.5.2.1 France IoT In Utilities Market by Component
9.2.5.2.2 France IoT In Utilities Market by Application
9.2.5.3 Italy IoT In Utilities Market
9.2.5.3.1 Italy IoT In Utilities Market by Component
9.2.5.3.2 Italy IoT In Utilities Market by Application
9.2.5.4 United Kingdom IoT In Utilities Market
9.2.5.4.1 United Kingdom IoT In Utilities Market by Component
9.2.5.4.2 United Kingdom IoT In Utilities Market by Application
9.2.5.5 Russia IoT In Utilities Market
9.2.5.5.1 Russia IoT In Utilities Market by Component
9.2.5.5.2 Russia IoT In Utilities Market by Application
9.2.5.6 Rest of Europe IoT In Utilities Market
9.2.5.6.1 Rest of Europe IoT In Utilities Market by Component
9.2.5.6.2 Rest of Europe IoT In Utilities Market by Application
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific IoT In Utilities Market Overview
9.3.2 Asia-Pacific IoT In Utilities Market Forecasts and Analysis
9.3.3 Asia-Pacific IoT In Utilities Market Forecasts and Analysis - By Component
9.3.4 Asia-Pacific IoT In Utilities Market Forecasts and Analysis - By Application
9.3.5 Asia-Pacific IoT In Utilities Market Forecasts and Analysis - By Countries
9.3.5.1 Australia IoT In Utilities Market
9.3.5.1.1 Australia IoT In Utilities Market by Component
9.3.5.1.2 Australia IoT In Utilities Market by Application
9.3.5.2 China IoT In Utilities Market
9.3.5.2.1 China IoT In Utilities Market by Component
9.3.5.2.2 China IoT In Utilities Market by Application
9.3.5.3 India IoT In Utilities Market
9.3.5.3.1 India IoT In Utilities Market by Component
9.3.5.3.2 India IoT In Utilities Market by Application
9.3.5.4 Japan IoT In Utilities Market
9.3.5.4.1 Japan IoT In Utilities Market by Component
9.3.5.4.2 Japan IoT In Utilities Market by Application
9.3.5.5 South Korea IoT In Utilities Market
9.3.5.5.1 South Korea IoT In Utilities Market by Component
9.3.5.5.2 South Korea IoT In Utilities Market by Application
9.3.5.6 Rest of Asia-Pacific IoT In Utilities Market
9.3.5.6.1 Rest of Asia-Pacific IoT In Utilities Market by Component
9.3.5.6.2 Rest of Asia-Pacific IoT In Utilities Market by Application
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa IoT In Utilities Market Overview
9.4.2 Middle East and Africa IoT In Utilities Market Forecasts and Analysis
9.4.3 Middle East and Africa IoT In Utilities Market Forecasts and Analysis - By Component
9.4.4 Middle East and Africa IoT In Utilities Market Forecasts and Analysis - By Application
9.4.5 Middle East and Africa IoT In Utilities Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa IoT In Utilities Market
9.4.5.1.1 South Africa IoT In Utilities Market by Component
9.4.5.1.2 South Africa IoT In Utilities Market by Application
9.4.5.2 Saudi Arabia IoT In Utilities Market
9.4.5.2.1 Saudi Arabia IoT In Utilities Market by Component
9.4.5.2.2 Saudi Arabia IoT In Utilities Market by Application
9.4.5.3 U.A.E IoT In Utilities Market
9.4.5.3.1 U.A.E IoT In Utilities Market by Component
9.4.5.3.2 U.A.E IoT In Utilities Market by Application
9.4.5.4 Rest of Middle East and Africa IoT In Utilities Market
9.4.5.4.1 Rest of Middle East and Africa IoT In Utilities Market by Component
9.4.5.4.2 Rest of Middle East and Africa IoT In Utilities Market by Application
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America IoT In Utilities Market Overview
9.5.2 South and Central America IoT In Utilities Market Forecasts and Analysis
9.5.3 South and Central America IoT In Utilities Market Forecasts and Analysis - By Component
9.5.4 South and Central America IoT In Utilities Market Forecasts and Analysis - By Application
9.5.5 South and Central America IoT In Utilities Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil IoT In Utilities Market
9.5.5.1.1 Brazil IoT In Utilities Market by Component
9.5.5.1.2 Brazil IoT In Utilities Market by Application
9.5.5.2 Argentina IoT In Utilities Market
9.5.5.2.1 Argentina IoT In Utilities Market by Component
9.5.5.2.2 Argentina IoT In Utilities Market by Application
9.5.5.3 Rest of South and Central America IoT In Utilities Market
9.5.5.3.1 Rest of South and Central America IoT In Utilities Market by Component
9.5.5.3.2 Rest of South and Central America IoT In Utilities Market by Application
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. IOT IN UTILITIES MARKET, KEY COMPANY PROFILES
11.1. IBM
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. CISCO
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. HUAWEI TECHNOLOGIES CO., LTD.
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. ITRON INC
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. LANDIS+GYR
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. ORACLE
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. SCHNEIDER ELECTRIC
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. TELIT
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. VERIZON
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. VODAFONE LIMITED
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
1. IBM
2. Cisco
3. Huawei Technologies Co., Ltd.
4. Itron Inc
5. Landis+Gyr
6. Oracle
7. Schneider Electric
8. Telit
9. Verizon
10. Vodafone Limited
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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