IoT Utilities Market to witness double-digit CAGR from 2017 to 2024

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IoT Utilities Market to cross 15 Bn by 2024
Global Market Insights, Inc.
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Key Insights from IoT Utilities Market

• Players operating in the IoT Utilities Market
  include Microsoft Corporation, Intel Corporation,
  Cisco Systems Inc., IBM Corporation and Huawei
  Technologies Co. Ltd. General Electric, Trilliant
  Inc., Osisoft LLC and Honeywell International
  Inc. are among the other prominent industry
  players
• The increasing need to enhance the operational
  efficiency in the utility sector is expected to
  boost the IoT utilities market growth. Increasing
  concerns to make the most effective use of energy
  in order to reduce the ever-increasing energy
  need contributes to the growth.
• The potential of IoT in the utility sector is
  huge owing to the benefits provided by these
  solutions such as gaining real-time visibility
  into every process in the facility.

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Continued...

• The differentiating factor of IoT Utilities
  Market report by Global Market Insights, Inc.
  when compared with other, similar syndicated
  research studies includes a 360-degree synopsis
  of trends for a period of more than 10 years
  including historic information as well as future
  outlook.
• Government initiatives for implement smart grid
  in countries such as India and China is expected
  to propel the IoT utilities market growth. The
  smart grid initiatives by Indian MNCs such as
  Crompton Greaves, North Delhi Power Limited lies
  lucrative growth opportunities.
• Smart grids can transform an electric power grid
  using IoT by integrating the devices, processes
  and the energy infrastructure into a more
  connected and collaborative process. It enables
  the generated energy to get distributed and
  consumed in a more efficient and timely manner
  resulting in enhanced reliability and security to
  the users.

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UK IoT utilities market, by application, 2016
2024 (USD Million)

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Major Companies in IoT Utilities Market

• Microsoft Corporation
• Intel Corporation
• Cisco Systems Inc.
• IBM Corporation
• Huawei Technologies Co. Ltd.
• General Electric
• Trilliant Inc.
• Osisoft LLC
• Honeywell International Inc.

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Industry Coverage

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Regional Insights in IoT Utilities Market

• Asia Pacific IoT utilities market is expected to
  witness huge adoption owing to the rising demand
  for smart metering solutions and efforts to
  promote smart buildings cities. The potential
  of smart meters to significantly reduce cost by
  improved outage management easier payments and
  enhanced customer service are enabling huge
  growth opportunities in the region. Moreover, the
  rising use cases coupled with the presence of
  large number of gas electricity production
  facilities and heavy investments to improve the
  energy infrastructure in the region is fueling
  the IoT utilities market growth.
• Increased demand for smart solutions in the
  energy sector in the U.S. will continue to bring
  demand for advanced solutions driving the growth.
  Moreover, advanced infrastructure of the country
  is increasing the demand for cloud solutions,
  which will further fuel consumption.

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