Internet of Things (IoT) in Utilities

Global Internet of Things (IoT) in Utilities Market to Reach US$158.1 Billion by 2030

The global market for Internet of Things (IoT) in Utilities estimated at US$75.6 Billion in the year 2024, is expected to reach US$158.1 Billion by 2030, growing at a CAGR of 13.1% over the analysis period 2024-2030. Solutions, one of the segments analyzed in the report, is expected to record a 13.9% CAGR and reach US$94.1 Billion by the end of the analysis period. Growth in the Platform segment is estimated at 10.9% CAGR over the analysis period.

The U.S. Market is Estimated at US$20.9 Billion While China is Forecast to Grow at 12.4% CAGR

The Internet of Things (IoT) in Utilities market in the U.S. is estimated at US$20.9 Billion in the year 2024. China, the world`s second largest economy, is forecast to reach a projected market size of US$24.2 Billion by the year 2030 trailing a CAGR of 12.4% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 11.6% and 10.6% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 9.2% CAGR.

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

How Is the Internet of Things (IoT) Revolutionizing Utilities?

The Internet of Things (IoT) is revolutionizing the utilities sector by enabling smarter, more efficient management of energy, water, and gas resources. IoT devices such as smart meters, sensors, and connected grids allow utility companies to monitor resource consumption in real time, helping to balance supply and demand more effectively and reduce waste. By providing continuous data on energy usage, smart meters enable utilities to offer dynamic pricing models, encourage energy conservation, and detect anomalies such as leaks or faults in the system. IoT solutions also help utility companies improve operational efficiency through predictive maintenance of infrastructure, reducing downtime and extending the lifespan of critical assets.

How Are Technological Advancements Driving IoT Adoption in Utilities?

Technological advancements in IoT sensors, AI-driven analytics, and edge computing are driving the widespread adoption of IoT in the utilities sector. IoT sensors are becoming more sophisticated and energy-efficient, enabling continuous monitoring of utility infrastructure such as power grids, water pipelines, and gas distribution networks. AI and machine learning algorithms analyze the vast amounts of data generated by IoT devices, offering predictive insights that help utility companies optimize grid performance, detect faults, and improve service reliability. Edge computing is enhancing IoT systems by allowing data to be processed closer to the source, reducing latency and enabling faster responses to critical events such as power outages or water leaks.

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

Components include hardware such as smart meters and sensors, software for data management and analytics, and services for system integration and maintenance. Key applications of IoT in utilities include energy management, grid monitoring, water management, and predictive maintenance, with smart metering being the largest segment due to the growing adoption of connected meters by utility companies. Geographically, North America and Europe are leading the market, driven by government regulations promoting smart grid development and energy efficiency, while emerging markets in Asia-Pacific are seeing rapid growth due to increasing investments in digital infrastructure and urbanization.

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

The growth in the IoT in utilities market is driven by several factors, including the increasing demand for energy efficiency, the growing adoption of smart grid technologies, and the need for real-time monitoring of critical infrastructure. As utilities seek to improve resource management and reduce operational costs, IoT solutions offer real-time insights into energy, water, and gas usage, helping to optimize supply and reduce waste. Technological innovations in AI, edge computing, and advanced sensor technology are further driving market growth by enabling predictive maintenance and improving the reliability of utility services. Additionally, regulatory mandates aimed at promoting energy conservation and sustainability are pushing utility companies to adopt IoT technologies to meet environmental goals and ensure long-term infrastructure resilience.

SCOPE OF STUDY:

The report analyzes the Internet of Things (IoT) in Utilities market in terms of units by the following Segments, and Geographic Regions/Countries:

Segments:
Component (Solutions, Platform, Services); Application (Electricity Grid Management, Water & Wastewater Management, Utility Gas Management)

Geographic Regions/Countries:
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.

Select Competitors (Total 37 Featured) -

• ABB
• Aclara
• Actility
• Altair
• Cisco
• Energyworx
• General Electric
• HCL
• Honeywell
• Huawei
• IBM
• Itron
• Landis+Gyr
• Oracle
• Rayven
• Saviant Consulting
• Schneider Electric
• Siemens
• Telit
• Trilliant
• Trimble
• Verizon
• Vodafone
• Waviot

TARIFF IMPACT FACTOR

Our new release incorporates impact of tariffs on geographical markets as we predict a shift in competitiveness of companies based on HQ country, manufacturing base, exports and imports (finished goods and OEM). This intricate and multifaceted market reality will impact competitors by artificially increasing the COGS, reducing profitability, reconfiguring supply chains, amongst other micro and macro market dynamics.

We are diligently following expert opinions of leading Chief Economists (14,949), Think Tanks (62), Trade & Industry bodies (171) worldwide, as they assess impact and address new market realities for their ecosystems. Experts and economists from every major country are tracked for their opinions on tariffs and how they will impact their countries.

We expect this chaos to play out over the next 2-3 months and a new world order is established with more clarity. We are tracking these developments on a real time basis.

As we release this report, U.S. Trade Representatives are pushing their counterparts in 183 countries for an early closure to bilateral tariff negotiations. Most of the major trading partners also have initiated trade agreements with other key trading nations, outside of those in the works with the United States. We are tracking such secondary fallouts as supply chains shift.

To our valued clients, we say, we have your back. We will present a simplified market reassessment by incorporating these changes!

APRIL 2025: NEGOTIATION PHASE

Our April release addresses the impact of tariffs on the overall global market and presents market adjustments by geography. Our trajectories are based on historic data and evolving market impacting factors.

JULY 2025 FINAL TARIFF RESET

Complimentary Update: Our clients will also receive a complimentary update in July after a final reset is announced between nations. The final updated version incorporates clearly defined Tariff Impact Analyses.

Reciprocal and Bilateral Trade & Tariff Impact Analyses:

USA
CHINA
MEXICO
CANADA
EU
JAPAN
INDIA
176 OTHER COUNTRIES.

Leading Economists - Our knowledge base tracks 14,949 economists including a select group of most influential Chief Economists of nations, think tanks, trade and industry bodies, big enterprises, and domain experts who are sharing views on the fallout of this unprecedented paradigm shift in the global econometric landscape. Most of our 16,491+ reports have incorporated this two-stage release schedule based on milestones.

Please note: Reports are sold as single-site single-user licenses. Electronic versions require 24-48 hours as each copy is customized to the client with digital controls and custom watermarks. The Publisher uses digital controls protecting against copying and printing is restricted to one full copy to be used at the same location.

The latest version of Adobe Acrobat Reader is required to view the report. Upon ordering an electronic version, the Publisher will provide a link to download the purchased report.

Prior to fulfillment of an order, the client will be required to sign a document detailing the purchase terms for a publication from this publisher.