Global IoT Market In Energy Grid Management 2024-2028
The IoT market in energy grid management is forecasted to grow by USD 50.01 bn during 2023-2028, accelerating at a CAGR of 19.27% during the forecast period. The report on the IoT market in energy grid management provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by aim of government toward reduction of carbon emissions, growing individualized customer preferences, and increasing penetration of smart technologies.
Technavio's IoT market in energy grid management is segmented as below:
By Solution
By Application
- Generation
- Transmission
- Substation automation
- Distribution
By Geographical Landscape
- North America
- Europe
- APAC
- Middle East and Africa
- South America
This study identifies the development of 5G network as one of the prime reasons driving the IoT market in energy grid management growth during the next few years. Also, rapid deployment of smart grids and increasing installation of smart energy meters will lead to sizable demand in the market.
The report on the IoT market in energy grid management covers the following areas:
- IoT market in energy grid management sizing
- IoT market in energy grid management forecast
- IoT market in energy grid management industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading IoT market in energy grid management vendors that include ABB Ltd., Cisco Systems Inc., Eaton Corp. Plc, Fujitsu Ltd., General Electric Co., Hitachi Ltd., Honeywell International Inc., Huawei Technologies Co. Ltd., Intel Corp., International Business Machines Corp., Itron Inc., Landis Gyr AG, Microsoft Corp., Mitsubishi Electric Corp., Oracle Corp., SAP SE, Schneider Electric SE, Siemens AG, Toshiba Corp., and Trilliant Holdings Inc.. Also, the IoT market in energy grid management analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.