Bangalore, India, October 24, 2019: According to recently published study “Global IoT in Utility Market – Drivers, Restraints, Opportunities, Trends, and Forecast up to 2025”, Infoholic Research forecasts that the global market for IoT in utility is expected to grow due to the increased need to manage & conserve energy and water.

IoT finds significant interest from the utility sector for electricity creation, distribution, and metering. There is an increase in demand to use in-built sensors in utilities and consumption. This trend of using decentralized energy systems and tracking conditions of networks would lead to its growth, focusing on smart utility products. This is fueling the IoT in utility market to grow at a CAGR of more than 18% during the forecast period to reach revenue of ~$25 billion by 2025.

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North America dominates the global IoT in utility market, followed by Europe and Asia Pacific. Emerging IoT technology providers in North America are expected to hugely invest to offer more exceptional customer experience and enhance products/services. The vendors are focusing on early market entry and capitalizing on grabbing the major market share in this segment. Asia Pacific is poised to grow at the highest CAGR as the region holds great potential, owing to a greater need to identify customer usage in industries and households.

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Smart metering is the major contributor to the IoT in utility market, given the focus on the usage of metering in electricity and water management. The remaining shares are attributed to smart grid and smart water, which help to measure the usage of certain devices.

“IoT is revolutionizing the use of smart products with real-time monitoring and updates. With major concerns over conserving water and electricity, the adoption of IoT in utility would soar high for the next six years,” pointed out Swarup Bhowal, Research Analyst, Infoholic Research

Key segments of the report include:

• Component:
  • Application Software
    • Analytics
    • Billing
    • Security
  • Network
    • SCADA
    • Distribution Management
  • Device
  • Service
    • Deployment and Integration
    • Maintenance and Support
    • Consulting
• Application:
  • Smart Grid
  • Smart Metering
  • Smart Water
• Geography:
  • North America
    • US
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Rest of Europe
  • Asia Pacific
    • China
    • Australia
    • Japan
    • India
    • Rest of Asia Pacific
  • Middle East Africa
    • South Africa
    • UAE
    • Rest of Middle East Africa
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America

• Industry outlook: Market trends, drivers, restraints, and opportunities

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