November 03, 2017
WELLESLEY, Mass., Nov 03, 2017 – The Internet of Things (IoT) in the energy and utilities market continues to grow rapidly thanks to big demand in electricity grid and supply management, as well as utility gas management. In a new report The Internet of Things (IoT) in Energy and Utility Applications, BCC Research estimates the market will reach $59.9 billion in 2022 at a compound annual growth rate (CAGR) of 22.9%.
The new report categorizes the technologies related to IoT in energy and utilities by hardware, software, services and connectivity. While hardware, services and software will dominate the market in terms of size, connectivity is the fastest growing category. In connectivity, low power wide area (LPWA) is the strongest growing subsegment.
Key factors driving the adoption of IoT in the energy and utilities space:
“All end-user segments are expected to perform well,” said Kevin Fitzgerald, BCC Research editorial director. “But the utility gas management and electricity and supply management sectors are expected to outperform across all geographic regions, representing the strongest growth opportunities. The smallest segment—water management—is forecast to have improved growth in the coming years as the growing popularity of water sensors in both developed and emerging countries make this segment highly opportunistic for IoT technology vendors.”
Traditional technology companies included in this report: Cisco Systems Inc., Comcast Corp., Ericsson, Fujitsu Ltd., General Electric Corp., Honeywell International Inc., IBM Corp., Oracle Corp., Qualcomm, Robert Bosch GmbH, SAP SE and Teradata Corp.
Energy and utility-specific technology companies included in this report: Envision Energy, NES Corp., S&C Electric Co. and Silver Spring Network Inc.
Energy producing and utility service companies included in this report: Alectra Utilities Corp., Enel, Hanergy Holding Group Limited, Iberdrola, San Diego Gas & Electric and South East Water (Australia).
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The Internet of Things (IoT) in Energy and Utility Applications (IFT142A)
Publish Date: Nov 2017
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The Internet of Things (IoT) in Energy and Utility Applications( IFT142A )
Publish Date: Oct 2017
Data and analysis extracted from this press release must be accompanied by a statement identifying BCC Research LLC as the source and publisher. For media inquiries, email email@example.com or visit www.bccresearch.com/media to request access to our library of market research.