Articles

IoT in Utilities is Driving Smart Metering for Energy Management

October, 2019

IoT in utilities has leveraged the market for smart products or utilities. Energy management and smart meters are improving the energy infrastructure and assist in the efficient management of energy. It uses sensors for metering and helps with real-time metering, enabling customers to measure the usage of energy levels.

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Smart meters for electricity, water, and building automation systems are empowering the IoT in utility market. Unlike traditional metering systems, IoT-enabled metering systems help in regular updates. The introduction of IoT has widened the scope of analyzing flow, temperature, and safety measures.

The increasing competition among utility vendors in the market is compelling them to focus on product development and service innovation. PingThings, Itron, Actility, Trilliant, Smappee, Verdigris, Energyworx, Grid4C, Waviot, and Tibber are among the leading companies in the global IoT in utility market. The contribution from hardware suppliers, CSPs, software vendors, and mobile manufacturers is enhancing the capabilities of IoT implementation in utilities.

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There are different forms of meter readings with the identification of usage, hazards, voltages at various points and networks to the users or energy suppliers. All these technologies help in improving customer experience through smart devices and mobile apps. The market is relatively new in Asia Pacific; however, it has great potential to move ahead with the high growth of smart utilities for better management and maintenance. These IoT-enabled utility devices require good Internet speed, advanced analytics, and AI to deliver maximum benefits. These features offer data gathering from meters and compute near-field to notify end-users about network status in meters. Many emerging utility vendors are focusing on several applications and sensor-integrated devices for better growth in the highly competitive utility market. With integration of SCADA, PLM, and automation tools, the IoT in utility market is expected to grow during the forecast period.

– Swarup Bhowal
ICT – Research Analyst
Infoholic Research