Europe Iot In Energy & Utility Application Market Forecast 2024-2032
The Europe IoT in energy & utility application market is anticipated to propel with a CAGR of 10.45% during the forecast period, 2024-2032.
Advancements in IoT and other energy-efficient technologies are an integral part of the energy sector in Europe and are driven by IoT application platforms and Big Data analytics. Smart energy-saving IoT meters are widely utilized around the region. In addition, it has enabled the concept of smart technologies that learn and analyze the data collected from connected devices and can boost efficiency, productivity, and real-time decision-making. It is used to create creative experiences, build new services, and solve essential problems.
REGIONAL ANALYSIS
The Europe IoT in energy & utility application market growth assessment entails the analysis of the United Kingdom, Germany, France, Italy, Spain, Belgium, Poland, and Rest of Europe. In the United Kingdom, accepting new energy sources necessitates new skills from the production, distribution, and consumption systems as the need for renewable energy continues to rise. Therefore, the trend to adopt and employ renewable energy increases the demand for IoT applications in the country. In addition, in 2021, the government said that the United Kingdom could become a global leader in developing tools for energy sector digitalization. Technologies such as the IoT and Distributed Ledger Technology (DLT), which are in the early stages of application in the energy sector, can significantly change how the energy system operates. Hence, IoT in energy & utility applications has the potential to grow in demand during the forecast years.
Similarly, in Italy, advancements in data analytics technologies and communications, along with the growing prevalence of connected devices in everyday life, have made IoT an important trend. In addition, the growing demand for energy & utility in urban households is adding to its market demand. However, smart city products represent a very small section of the whole IoT ecosystem and have the potential to expand during the forecast period.
On the other hand, Spanish cities are adopting IoT technologies owing to the enormous potential of Big Data to improve sustainability. Additionally, around 20,000 sensors are installed in Barcelona to measure traffic, air quality, etc., further contributing to the market growth.
SEGMENTATION ANALYSIS
The Europe IoT in energy & utility application market segmentation includes end-user, connectivity, and component. The connectivity segment includes cellular and non-cellular.
Cellular technologies are designed for security, scalability, and reliability. They provide a strong foundation for IoT connectivity with a unique combination of performance and functionality. The deployed infrastructure provides a base for excellent IoT coverage and fast time-to-market through software upgrades. Further, cellular IoT can connect IoT devices using existing mobile networks. Thus, it eliminates investing and developing separate dedicated network infrastructure for IoT devices.
COMPETITIVE INSIGHTS
Some leading players in the Europe IoT in energy & utility application market include Capgemini SE, Siemens AG, Eaton Corporation plc, etc.
Capgemini SE provides IT consulting and outsourcing services. The company also offers cloud services, business process management (BPM), and product & engineering services. It serves a range of industries, including manufacturing and industrial products, banking and capital markets, aerospace and defense, agriculture, consumer and retail, automotive, energy and utilities, government and public sector, electronics and high tech, transportation and distribution, and healthcare and life sciences. The company offers its products and services under Sogeti, Capgemini, and Invent. It carries out operations in the Americas, Europe, the Middle East, Asia-Pacific, and Africa. Capgemini is headquartered in Paris, France.
u2es Transformation from Capgemini is used to transform a utility company into an energy services company, a value-based program that leverages emerging technologies to deliver proven benefits and positions the company as a leader for the future. It defines a transformation strategy based on three pillars of success: customer engagement, operational excellence, and new business models.
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- 1. Research Scope & Methodology
- 1.1. Study Objectives
- 1.2. Methodology
- 1.3. Assumptions & Limitations
- 2. Executive Summary
- 2.1. Market Size & Estimates
- 2.2. Market Overview
- 2.3. Scope Of Study
- 2.4. Crisis Scenario Analysis
- 2.4.1. Impact Of Covid-19 On Iot In Energy & Utility Application Market
- 2.5. Major Market Findings
- 2.5.1. Surging Demand For Smart Meters
- 2.5.2. Increasing Adoption Of Advanced Grid Management Solutions
- 2.5.3. Investments In Infrastructure Development
- 3. Market Dynamics
- 3.1. Key Drivers
- 3.1.1. Increasing Consumption And Demand For Energy Generation
- 3.1.2. Emphasis On A Greener Environment Raising Demand For Energy & Utility Analytics
- 3.1.3. Declining Prices Of Iot Components And Availability Of Next-generation Sensors
- 3.2. Key Restraints
- 3.2.1. High Upfront Costs For Deployment
- 3.2.2. Lack Of Skilled Workforce
- 3.2.3. Security Concerns
- 3.2.4. Challenges Associated With Integrating Iot With Subsystems
- 4. Key Analytics
- 4.1. Key Market Trends
- 4.1.1. Demand For Automation Tools In Energy Management
- 4.1.2. Growing Consumer Focus On Energy Consumption Pattern Analysis
- 4.1.3. Improvement In The Operations Of The Oil & Gas Industry
- 4.2. Porter’s Five Forces Analysis
- 4.2.1. Buyers Power
- 4.2.2. Suppliers Power
- 4.2.3. Substitution
- 4.2.4. New Entrants
- 4.2.5. Industry Rivalry
- 4.3. Growth Prospect Mapping
- 4.4. Market Concentration Analysis
- 4.5. Value Chain Analysis
- 4.5.1. Raw Materials
- 4.5.2. Manufacturing
- 4.5.3. Distribution
- 4.5.4. End-users
- 4.6. Key Buying Criteria
- 4.6.1. Mode Of Deployment
- 4.6.2. Price
- 4.6.3. Application
- 5. Market By Connectivity
- 5.1. Non-cellular
- 5.2. Cellular
- 6. Market By End-user
- 6.1. Utility Gas Management
- 6.2. Oil & Gas
- 6.3. Electricity Grid & Supply Management
- 6.4. Water Management
- 6.5. Mining
- 7. Market By Component
- 7.1. Hardware
- 7.1.1. Sensors
- 7.1.2. Devices
- 7.1.3. Other Hardware Components
- 7.2. Services
- 7.2.1. Deployment And Integration
- 7.2.2. Support And Maintenance
- 7.2.3. Professional Services
- 7.3. Software
- 7.3.1. Analytics
- 7.3.2. Grid Management
- 7.3.3. Operational Control
- 7.3.4. Water Management
- 7.3.5. Security
- 8. Geographical Analysis
- 8.1. Europe
- 8.1.1. Market Size & Estimates
- 8.1.2. Europe Iot In Energy & Utility Application Market Drivers
- 8.1.3. Europe Iot In Energy & Utility Application Market Challenges
- 8.1.4. Key Players In Europe Iot In Energy & Utility Application Market
- 8.1.5. Country Analysis
- 8.1.5.1. United Kingdom
- 8.1.5.1.1. United Kingdom Iot In Energy & Utility Application Market Size & Opportunities
- 8.1.5.2. Germany
- 8.1.5.2.1. Germany Iot In Energy & Utility Application Market Size & Opportunities
- 8.1.5.3. France
- 8.1.5.3.1. France Iot In Energy & Utility Application Market Size & Opportunities
- 8.1.5.4. Spain
- 8.1.5.4.1. Spain Iot In Energy & Utility Application Market Size & Opportunities
- 8.1.5.5. Italy
- 8.1.5.5.1. Italy Iot In Energy & Utility Application Market Size & Opportunities
- 8.1.5.6. Belgium
- 8.1.5.6.1. Belgium Iot In Energy & Utility Application Market Size & Opportunities
- 8.1.5.7. Poland
- 8.1.5.7.1. Poland Iot In Energy & Utility Application Market Size & Opportunities
- 8.1.5.8. Rest Of Europe
- 8.1.5.8.1. Rest Of Europe Iot In Energy & Utility Application Market Size & Opportunities
- 9. Competitive Landscape
- 9.1. Key Strategic Developments
- 9.1.1. Mergers & Acquisitions
- 9.1.2. Product Launches & Developments
- 9.1.3. Partnerships & Agreements
- 9.1.4. Business Expansions & Divestitures
- 9.2. Company Profiles
- 9.2.1. Abb Ltd
- 9.2.1.1. Company Overview
- 9.2.1.2. Products
- 9.2.1.3. Strengths & Challenges
- 9.2.2. Aclara Technologies Llc
- 9.2.2.1. Company Overview
- 9.2.2.2. Products
- 9.2.2.3. Strengths & Challenges
- 9.2.3. Capgemini Se
- 9.2.3.1. Company Overview
- 9.2.3.2. Products
- 9.2.3.3. Strengths & Challenges
- 9.2.4. Cisco Systems Inc
- 9.2.4.1. Company Overview
- 9.2.4.2. Products
- 9.2.4.3. Strengths & Challenges
- 9.2.5. Eaton Corporation Plc
- 9.2.5.1. Company Overview
- 9.2.5.2. Products
- 9.2.5.3. Strengths & Challenges
- 9.2.6. General Electric Company
- 9.2.6.1. Company Overview
- 9.2.6.2. Products
- 9.2.6.3. Strengths & Challenges
- 9.2.7. Infosys Limited
- 9.2.7.1. Company Overview
- 9.2.7.2. Products
- 9.2.7.3. Strengths & Challenges
- 9.2.8. International Business Machines Corporation (Ibm)
- 9.2.8.1. Company Overview
- 9.2.8.2. Products
- 9.2.8.3. Strengths & Challenges
- 9.2.9. Oracle Corporation
- 9.2.9.1. Company Overview
- 9.2.9.2. Products
- 9.2.9.3. Strengths & Challenges
- 9.2.10. Sap Se
- 9.2.10.1. Company Overview
- 9.2.10.2. Products
- 9.2.10.3. Strengths & Challenges
- 9.2.11. Sas Institute Inc
- 9.2.11.1. Company Overview
- 9.2.11.2. Products
- 9.2.11.3. Strengths & Challenges
- 9.2.12. Schneider Electric Se
- 9.2.12.1. Company Overview
- 9.2.12.2. Products
- 9.2.12.3. Strengths & Challenges
- 9.2.13. Siemens Ag
- 9.2.13.1. Company Overview
- 9.2.13.2. Products
- 9.2.13.3. Strengths & Challenges
- 9.2.14. Teradata Corporation
- 9.2.14.1. Company Overview
- 9.2.14.2. Products
- 9.2.14.3. Strengths & Challenges
- 9.2.15. Wipro Limited
- 9.2.15.1. Company Overview
- 9.2.15.2. Products
- 9.2.15.3. Strengths & Challenges
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