Internet of Things (IoT) in Energy

Global Internet of Things (IoT) in Energy Market to Reach US$80.1 Billion by 2030

The global market for Internet of Things (IoT) in Energy estimated at US$38.4 Billion in the year 2023, is expected to reach US$80.1 Billion by 2030, growing at a CAGR of 11.1% over the analysis period 2023-2030. Platform Component, one of the segments analyzed in the report, is expected to record a 10.8% CAGR and reach US$27.1 Billion by the end of the analysis period. Growth in the Solutions Component segment is estimated at 11.8% CAGR over the analysis period.

The U.S. Market is Estimated at US$10.4 Billion While China is Forecast to Grow at 10.4% CAGR

The Internet of Things (IoT) in Energy market in the U.S. is estimated at US$10.4 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$12.3 Billion by the year 2030 trailing a CAGR of 10.4% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 9.4% and 9.3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 8.1% CAGR.

Global Internet of Things (IoT) in Energy Market - Key Trends and Drivers Summarized

How Is the Internet of Things (IoT) Shaping the Future of Energy?

The Internet of Things (IoT) is playing a critical role in modernizing the energy sector by improving energy efficiency, enabling predictive maintenance, and optimizing grid management. IoT devices such as smart meters, sensors, and connected appliances provide real-time data on energy consumption, allowing utilities and consumers to monitor and manage energy use more effectively. Smart grids powered by IoT enable utilities to detect outages, balance supply and demand, and integrate renewable energy sources like solar and wind power. IoT solutions are also helping companies in the energy sector predict equipment failures and schedule maintenance before issues escalate, reducing downtime and increasing operational efficiency.

How Are Technological Advancements Shaping IoT in Energy?

Technological advancements in IoT sensors, AI, and machine learning are driving the transformation of the energy sector. Advanced sensors embedded in power generation equipment and distribution networks provide real-time data on system performance, allowing for early detection of inefficiencies or potential failures. AI and machine learning algorithms analyze data from IoT devices to predict energy consumption patterns, optimize grid operations, and balance load demands in real-time. Edge computing is also emerging as a key technology, allowing energy companies to process data closer to the source and enabling faster response times in managing grid fluctuations or equipment malfunctions. These innovations are making the energy sector more efficient, sustainable, and resilient.

How Do Market Segments Define the Growth of IoT in Energy?

Solution types include hardware such as smart meters and sensors, software platforms for energy management, and services for integration and maintenance. Applications include grid management, demand response, predictive maintenance, and energy analytics, with smart grid management representing the largest segment as utilities increasingly rely on connected devices to manage power distribution and consumption. End-users range from utility companies and industrial energy consumers to residential consumers, with utility companies leading the adoption of IoT solutions to modernize their infrastructure and improve service reliability. The market is expanding rapidly in regions like North America and Europe, where energy efficiency and sustainability are key priorities.

What Factors Are Driving the Growth in the IoT in Energy Market?

The growth in the IoT in energy market is driven by several factors, including the increasing demand for energy efficiency, the integration of renewable energy sources, and advancements in smart grid technology. As energy consumption continues to rise, utilities are adopting IoT solutions to optimize grid management, reduce energy waste, and improve the integration of solar and wind power. Technological innovations in sensors, AI, and edge computing are also driving growth by enabling real-time monitoring and predictive maintenance, reducing operational costs, and enhancing energy system reliability. Additionally, regulatory initiatives focused on sustainability and carbon reduction are pushing energy companies to invest in IoT technologies that promote cleaner and more efficient energy consumption.

Select Competitors (Total 182 Featured) -
  • ABB
  • Aclara
  • Actility
  • AGT International
  • Altair Engineering
  • Bosch
  • Cisco
  • Davra Networks
  • Flutura
  • HCL
  • IBM
  • Infosys
  • Intel
  • Rockwell Automation
  • SAP
  • Schneider Electric
  • Siemens
  • Smartgas
  • Trimble
  • Wind River
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I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
Influencer Market Insights
World Market Trajectories
Global Economic Update
Internet of Things (IoT) in Energy – Global Key Competitors Percentage Market Share in 2024 (E)
Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
Rising Demand for Smart Grid Solutions Drives Growth in IoT in Energy Sector
Technological Advancements in Real-Time Energy Monitoring Strengthen Business Case for IoT
Growing Adoption of IoT in Renewable Energy Systems Expands Addressable Market
Focus on Enhancing Energy Efficiency and Reducing Carbon Footprint Propels IoT Adoption
Rising Use of IoT in Predictive Maintenance of Energy Infrastructure Fuels Market Growth
Expansion of Smart Meters and Connected Devices in Energy Sector Spurs Demand for IoT
Technological Innovations in Distributed Energy Resources (DER) Management Strengthen Market Growth
Increasing Focus on Energy Storage and Optimization Drives Adoption of IoT Solutions
Rising Investments in Smart Cities and IoT-Enabled Urban Energy Management Expands Market Opportunities
Focus on Real-Time Data Analytics and Automation in Energy Systems Drives IoT Adoption
Growing Demand for IoT in Electric Vehicle (EV) Charging Infrastructure Propels Market Growth
Rising Use of IoT in Grid Resilience and Outage Management Expands Market Potential
Expansion of IoT in Energy Demand Response and Load Balancing Strengthens Business Case for Adoption
Focus on Renewable Energy Integration and Smart Energy Solutions Sustains Growth in IoT in Energy
4. GLOBAL MARKET PERSPECTIVE
TABLE 1: World Recent Past, Current & Future Analysis for Internet of Things (IoT) in Energy by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
TABLE 2: World 7-Year Perspective for Internet of Things (IoT) in Energy by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets for Years 2024 & 2030
TABLE 3: World Recent Past, Current & Future Analysis for Platform by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
TABLE 4: World 7-Year Perspective for Platform by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2024 & 2030
TABLE 5: World Recent Past, Current & Future Analysis for Solutions by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
TABLE 6: World 7-Year Perspective for Solutions by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2024 & 2030
TABLE 7: World Recent Past, Current & Future Analysis for Services by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
TABLE 8: World 7-Year Perspective for Services by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2024 & 2030
TABLE 9: World Recent Past, Current & Future Analysis for Oil & Gas by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
TABLE 10: World 7-Year Perspective for Oil & Gas by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2024 & 2030
TABLE 11: World Recent Past, Current & Future Analysis for Coal Mining by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
TABLE 12: World 7-Year Perspective for Coal Mining by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2024 & 2030
TABLE 13: World Recent Past, Current & Future Analysis for Smart Grid by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
TABLE 14: World 7-Year Perspective for Smart Grid by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2024 & 2030
TABLE 15: World Internet of Things (IoT) in Energy Market Analysis of Annual Sales in US$ Million for Years 2014 through 2030
III. MARKET ANALYSIS
UNITED STATES
Internet of Things (IoT) in Energy Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2024 (E)
TABLE 16: USA Recent Past, Current & Future Analysis for Internet of Things (IoT) in Energy by Component - Platform, Solutions and Services - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
TABLE 17: USA 7-Year Perspective for Internet of Things (IoT) in Energy by Component - Percentage Breakdown of Value Sales for Platform, Solutions and Services for the Years 2024 & 2030
TABLE 18: USA Recent Past, Current & Future Analysis for Internet of Things (IoT) in Energy by Application - Oil & Gas, Coal Mining and Smart Grid - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
TABLE 19: USA 7-Year Perspective for Internet of Things (IoT) in Energy by Application - Percentage Breakdown of Value Sales for Oil & Gas, Coal Mining and Smart Grid for the Years 2024 & 2030
CANADA
TABLE 20: Canada Recent Past, Current & Future Analysis for Internet of Things (IoT) in Energy by Component - Platform, Solutions and Services - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
TABLE 21: Canada 7-Year Perspective for Internet of Things (IoT) in Energy by Component - Percentage Breakdown of Value Sales for Platform, Solutions and Services for the Years 2024 & 2030
TABLE 22: Canada Recent Past, Current & Future Analysis for Internet of Things (IoT) in Energy by Application - Oil & Gas, Coal Mining and Smart Grid - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
TABLE 23: Canada 7-Year Perspective for Internet of Things (IoT) in Energy by Application - Percentage Breakdown of Value Sales for Oil & Gas, Coal Mining and Smart Grid for the Years 2024 & 2030
JAPAN
Internet of Things (IoT) in Energy Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2024 (E)
TABLE 24: Japan Recent Past, Current & Future Analysis for Internet of Things (IoT) in Energy by Component - Platform, Solutions and Services - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
TABLE 25: Japan 7-Year Perspective for Internet of Things (IoT) in Energy by Component - Percentage Breakdown of Value Sales for Platform, Solutions and Services for the Years 2024 & 2030
TABLE 26: Japan Recent Past, Current & Future Analysis for Internet of Things (IoT) in Energy by Application - Oil & Gas, Coal Mining and Smart Grid - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
TABLE 27: Japan 7-Year Perspective for Internet of Things (IoT) in Energy by Application - Percentage Breakdown of Value Sales for Oil & Gas, Coal Mining and Smart Grid for the Years 2024 & 2030
CHINA
Internet of Things (IoT) in Energy Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2024 (E)
TABLE 28: China Recent Past, Current & Future Analysis for Internet of Things (IoT) in Energy by Component - Platform, Solutions and Services - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
TABLE 29: China 7-Year Perspective for Internet of Things (IoT) in Energy by Component - Percentage Breakdown of Value Sales for Platform, Solutions and Services for the Years 2024 & 2030
TABLE 30: China Recent Past, Current & Future Analysis for Internet of Things (IoT) in Energy by Application - Oil & Gas, Coal Mining and Smart Grid - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
TABLE 31: China 7-Year Perspective for Internet of Things (IoT) in Energy by Application - Percentage Breakdown of Value Sales for Oil & Gas, Coal Mining and Smart Grid for the Years 2024 & 2030
EUROPE
Internet of Things (IoT) in Energy Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2024 (E)
TABLE 32: Europe Recent Past, Current & Future Analysis for Internet of Things (IoT) in Energy by Geographic Region - France, Germany, Italy, UK and Rest of Europe Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
TABLE 33: Europe 7-Year Perspective for Internet of Things (IoT) in Energy by Geographic Region - Percentage Breakdown of Value Sales for France, Germany, Italy, UK and Rest of Europe Markets for Years 2024 & 2030
TABLE 34: Europe Recent Past, Current & Future Analysis for Internet of Things (IoT) in Energy by Component - Platform, Solutions and Services - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
TABLE 35: Europe 7-Year Perspective for Internet of Things (IoT) in Energy by Component - Percentage Breakdown of Value Sales for Platform, Solutions and Services for the Years 2024 & 2030
TABLE 36: Europe Recent Past, Current & Future Analysis for Internet of Things (IoT) in Energy by Application - Oil & Gas, Coal Mining and Smart Grid - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
TABLE 37: Europe 7-Year Perspective for Internet of Things (IoT) in Energy by Application - Percentage Breakdown of Value Sales for Oil & Gas, Coal Mining and Smart Grid for the Years 2024 & 2030
FRANCE
Internet of Things (IoT) in Energy Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2024 (E)
TABLE 38: France Recent Past, Current & Future Analysis for Internet of Things (IoT) in Energy by Component - Platform, Solutions and Services - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
TABLE 39: France 7-Year Perspective for Internet of Things (IoT) in Energy by Component - Percentage Breakdown of Value Sales for Platform, Solutions and Services for the Years 2024 & 2030
TABLE 40: France Recent Past, Current & Future Analysis for Internet of Things (IoT) in Energy by Application - Oil & Gas, Coal Mining and Smart Grid - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
TABLE 41: France 7-Year Perspective for Internet of Things (IoT) in Energy by Application - Percentage Breakdown of Value Sales for Oil & Gas, Coal Mining and Smart Grid for the Years 2024 & 2030
GERMANY
Internet of Things (IoT) in Energy Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2024 (E)
TABLE 42: Germany Recent Past, Current & Future Analysis for Internet of Things (IoT) in Energy by Component - Platform, Solutions and Services - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
TABLE 43: Germany 7-Year Perspective for Internet of Things (IoT) in Energy by Component - Percentage Breakdown of Value Sales for Platform, Solutions and Services for the Years 2024 & 2030
TABLE 44: Germany Recent Past, Current & Future Analysis for Internet of Things (IoT) in Energy by Application - Oil & Gas, Coal Mining and Smart Grid - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
TABLE 45: Germany 7-Year Perspective for Internet of Things (IoT) in Energy by Application - Percentage Breakdown of Value Sales for Oil & Gas, Coal Mining and Smart Grid for the Years 2024 & 2030
ITALY
TABLE 46: Italy Recent Past, Current & Future Analysis for Internet of Things (IoT) in Energy by Component - Platform, Solutions and Services - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
TABLE 47: Italy 7-Year Perspective for Internet of Things (IoT) in Energy by Component - Percentage Breakdown of Value Sales for Platform, Solutions and Services for the Years 2024 & 2030
TABLE 48: Italy Recent Past, Current & Future Analysis for Internet of Things (IoT) in Energy by Application - Oil & Gas, Coal Mining and Smart Grid - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
TABLE 49: Italy 7-Year Perspective for Internet of Things (IoT) in Energy by Application - Percentage Breakdown of Value Sales for Oil & Gas, Coal Mining and Smart Grid for the Years 2024 & 2030
UNITED KINGDOM
Internet of Things (IoT) in Energy Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2024 (E)
TABLE 50: UK Recent Past, Current & Future Analysis for Internet of Things (IoT) in Energy by Component - Platform, Solutions and Services - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
TABLE 51: UK 7-Year Perspective for Internet of Things (IoT) in Energy by Component - Percentage Breakdown of Value Sales for Platform, Solutions and Services for the Years 2024 & 2030
TABLE 52: UK Recent Past, Current & Future Analysis for Internet of Things (IoT) in Energy by Application - Oil & Gas, Coal Mining and Smart Grid - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
TABLE 53: UK 7-Year Perspective for Internet of Things (IoT) in Energy by Application - Percentage Breakdown of Value Sales for Oil & Gas, Coal Mining and Smart Grid for the Years 2024 & 2030
REST OF EUROPE
TABLE 54: Rest of Europe Recent Past, Current & Future Analysis for Internet of Things (IoT) in Energy by Component - Platform, Solutions and Services - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
TABLE 55: Rest of Europe 7-Year Perspective for Internet of Things (IoT) in Energy by Component - Percentage Breakdown of Value Sales for Platform, Solutions and Services for the Years 2024 & 2030
TABLE 56: Rest of Europe Recent Past, Current & Future Analysis for Internet of Things (IoT) in Energy by Application - Oil & Gas, Coal Mining and Smart Grid - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
TABLE 57: Rest of Europe 7-Year Perspective for Internet of Things (IoT) in Energy by Application - Percentage Breakdown of Value Sales for Oil & Gas, Coal Mining and Smart Grid for the Years 2024 & 2030
ASIA-PACIFIC
Internet of Things (IoT) in Energy Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2024 (E)
TABLE 58: Asia-Pacific Recent Past, Current & Future Analysis for Internet of Things (IoT) in Energy by Component - Platform, Solutions and Services - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
TABLE 59: Asia-Pacific 7-Year Perspective for Internet of Things (IoT) in Energy by Component - Percentage Breakdown of Value Sales for Platform, Solutions and Services for the Years 2024 & 2030
TABLE 60: Asia-Pacific Recent Past, Current & Future Analysis for Internet of Things (IoT) in Energy by Application - Oil & Gas, Coal Mining and Smart Grid - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
TABLE 61: Asia-Pacific 7-Year Perspective for Internet of Things (IoT) in Energy by Application - Percentage Breakdown of Value Sales for Oil & Gas, Coal Mining and Smart Grid for the Years 2024 & 2030
REST OF WORLD
TABLE 62: Rest of World Recent Past, Current & Future Analysis for Internet of Things (IoT) in Energy by Component - Platform, Solutions and Services - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
TABLE 63: Rest of World 7-Year Perspective for Internet of Things (IoT) in Energy by Component - Percentage Breakdown of Value Sales for Platform, Solutions and Services for the Years 2024 & 2030
TABLE 64: Rest of World Recent Past, Current & Future Analysis for Internet of Things (IoT) in Energy by Application - Oil & Gas, Coal Mining and Smart Grid - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
TABLE 65: Rest of World 7-Year Perspective for Internet of Things (IoT) in Energy by Application - Percentage Breakdown of Value Sales for Oil & Gas, Coal Mining and Smart Grid for the Years 2024 & 2030
IV. COMPETITION

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