Internet of Things (IoT) in Energy - Thematic Intelligence
Summary
The Internet of Things (IoT) has acted as the backbone of digital transformation within the energy sector. Connected devices drive more sophisticated uses of technologies, namely artificial intelligence (AI), for data collection and the automation of processes. IoT can create a tech ecosystem that addresses many challenges within the sector such as balancing supply with demand, workplace safety, integrating renewable energy into the grid, and fluctuating energy prices.
The energy sector has already reaped benefits from early consumer oriented IoT applications such as smart meters and smart thermostats. Incorporating IoT technology is also made easier by the declining costs of IoT hardware, notably sensors. According to GlobalData market forecasts, global IoT revenue in the energy sector will reach $64.8 billion by 2027, up from $27.8 billion in 2022.
Scope
- This report shows how the internet of things is impacting energy operations globally
- This report will help you to understand IoT and its potential impact on the energy sector.
- Benchmark your company against your competitors, by comparing how prepared companies in the energy sector are for IoT disruption.
- Identify and differentiate between the leading IoT vendors and formulate an adoption plan for your company.
- Position yourself for future success by investing in the right AI technologies. Cut through the noise with GlobalData’s priority ratings for each IoT technology for each segment of the sector (upstream, midstream, downstream, equipment manufacture and services, engineering, procurement, construction, generation, transmission and distribution, and end-user).
- Develop relevant and credible sales and marketing messages for energy companies by understanding key sector challenges and where IoT use cases are most useful.
- Identify attractive investment targets by understanding which companies are most advanced in the themes that will determine future success in the energy sector.
- Executive Summary
- Players
- Energy Challenges
- The Impact of IoT on the Energy Sector
- Physical (device) layer
- Connectivity layer
- Data layer
- App layer
- Services layer
- Addressing the industry challenge of aging infrastructure through IoT innovation
- Mitigating the risks of energy security using IoT
- IoT enables ongoing data analysis to monitor decarbonization
- IoT can help with data management during the energy transition
- Case Studies
- Engie uses IoT to monitor operational performance and fast-track decarbonization
- Equinor introduces remote monitoring for offshore operations
- EDF’s use of IoT for predictive maintenance of equipment
- SSE Airtricity is developing an IoT-connected operating system
- The world’s largest wind farm has been digitally transformed with IoT technology
- Market Size and Growth Forecasts
- Condition monitoring and smart metering are most widely adopted IoT applications
- Signals
- Mergers and acquisitions
- Patent trends
- Company filing trends
- Hiring trends
- IoT Value Chain
- Physical layer
- Connected things
- Cameras and lenses
- Sensors and microcontrollers
- Microprocessors
- Connectivity layer
- Edge infrastructure
- Cloud infrastructure
- Networking equipment
- Telecom networks
- Data layer
- Data integration
- Data aggregation
- Data processing
- Data storage
- Data validation
- Data governance and security
- App layer
- Apps
- Platforms
- Services layer
- Integration services
- Consulting services
- Companies
- Leading IoT adopters in the energy sector
- Specialist IoT vendors in the energy sector
- Sector Scorecards
- Power utilities scorecard
- Who’s who
- Thematic screen
- Valuation screen
- Risk screen
- Integrated oil & gas sector scorecard
- Who’s who
- Thematic screen
- Valuation screen
- Risk screen
- Glossary
- Further Reading
- GlobalData reports
- Our Thematic Research Methodology
- About GlobalData
- Contact Us
- List of Tables
- Table 1: Energy Challenges
- Table 2: Mergers and acquisitions
- Table 3: Leading IoT adopters in the energy sector
- Table 4: Specialist IoT vendors in the energy sector
- Table 5: Glossary
- Table 6: GlobalData reports
- List of Figures
- Figure 1: Key players in IoT
- Figure 2: IoT has already become a widely adopted technology
- Figure 3: Thematic investment matrix
- Figure 4: PTC and Engie develop digital twinning simulations using IoT technologies
- Figure 5: A digital twin of unmanned offshore operations
- Figure 6: EDF’s IoT technologies
- Figure 7: The ICOS vision for home energy management
- Figure 8: Ørsted’s 4G connected wind turbines
- Figure 9: Global IoT revenue in the energy sector will grow at a CAGR of 18.4% between 2022 and 2027
- Figure 10: The IoT market is well-distributed globally & IoT has been adopted in the energy sector for predictive analysis
- Figure 11: In H1 2022, IoT-related patent activity in the energy sector peaked at 4,445
- Figure 12: Industry uptake of IoT has not been uniform globally
- Figure 13: There has been an increasing trend in the number of IoT mentions in industry filings
- Figure 14: IoT hiring in the energy sector peaked in Q3 2022
- Figure 15: The IoT value chain
- Figure 16: The IoT value chain - Physical layer: leaders and challengers
- Figure 17: The IoT value chain - Connectivity layer: leaders and challengers
- Figure 18: The IoT value chain - Data layer: leaders and challengers
- Figure 19: The IoT value chain - App layer: leaders and challengers
- Figure 20: The IoT value chain - Services layer: leaders and challengers
- Figure 21: Who does what in the power utilities space?
- Figure 22: Thematic screen - Power utilities scorecard
- Figure 23: Valuation screen - Power utilities scorecard
- Figure 24: Risk screen - Power utilities scorecard
- Figure 25: Who does what in the integrated oil & gas space?
- Figure 26: Thematic screen - Integrated oil & gas sector scorecard
- Figure 27: Valuation screen - Integrated oil & gas sector scorecard
- Figure 28: Risk screen - Integrated oil & gas sector scorecard
- Figure 29: Our five-step approach for generating a sector scorecard
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