Internet of Things (IoT) energy market is expected to grow at a significant rate during the forecast period 2019-2025. Internet of Things (IoT) has been witnessing increasing implementation in numerous end-user industries across the globe. The energy sector is one such area in which implementation of IoT is seen as one of the path-breaking opportunities for the augmentation of the market. IoT is being used in creating innovative grids which are expected to create profits for energy companies and customers. The key application of IOT is the reduction in the use of energy coupled with increasing the operational efficiency of the plant. Key IT companies are offering numerous solutions ranging from asset management to energy analysis which is expected to create opportunities for the growth of the market in the near future.
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Increasing technological advancements has led to the introduction of advanced IoT platforms for numerous applications. This is expected to be one of the key factors which are expected to promote the growth of the market in near future. Furthermore, it also aids in increasing the operational efficiency of the system, owing to which its demand is expected to increase in the future. Furthermore, spending on the implementation of IoT in the oil and gas sector has also increased in the past years. This is expected to further promote market growth. However, the risk associated with data security is one of the key reasons which can derail the growth of the market in the near future.
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Global IoT Energy Market Segmentation
By Solution Type
• Asset Maintenance
• Connected Logistics
• Monitoring and Management
• IoT Analytics
• Oil & Gas
• North America
o United States
o Rest of Europe
o Rest of Asia-Pacific
• Rest of the World
• Actility S.A.
• AGT International
• Altair Engineering, Inc.
• Capgemini Services SAS
• Cisco Systems, Inc.
• Davra Networks
• EMnify GmbH
• Flutura Business Solutions, LLC
• Gemalto N.V.
• Gemino S.R.L.
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