North America Iot In Energy & Utility Application Market Forecast 2024-2032
The North America IoT in energy & utility application market is set to project a CAGR of 9.96% during the forecast period, 2024-2032.
In North America, the growing energy demand is the main driver for IoT. The production of energy is also increasing in the region, and to maintain the flow and production, IoT is required. The growing demand and supply cycle of energy & its utility is growing in the region. The majority of the energy sector IoT projects are applications-oriented toward demand. In addition, IoT brings numerous benefits to the entire value chain, optimizing all phases and communicating between them.
REGIONAL ANALYSIS
The North America IoT in energy & utility application market growth evaluation includes the analysis of United States and Canada. The United States plays a very important role in the energy & utility sector. Besides a large amount of consumption, it is becoming self-sufficient in production. The growing demand for energy & utility applications in technology, households, electric vehicles, industry, weaponry, petroleum vehicles, and other sectors is driving the demand for IoT applications in the country. In addition, IoT applications in renewable energy production in the USA have increased rapidly and involve sensors attached to distribution, generation, and transmission equipment. Therefore, IoT implementation will help utilize these clean energy sources optimally during the forecast period.
SEGMENTATION ANALYSIS
The North America IoT in energy & utility application market segmentation includes connectivity, end-user, and component. The end-user segment includes utility gas management, oil and gas, water management, electricity grid & supply management, and mining.
A smart gas utility system improves operations and can be life-saving. Further, safety is a major concern as leaks from gas appliances, gas line piping, etc., can be devastating. With IoT-connected solutions, homeowners, city officials, and building operators can instantly be alerted to methane leaks. With early detection monitoring capabilities, these devices can minimize potential environmental and personal harm caused by gas leaks. The market is witnessing strong growth in all geographical regions, even in emerging countries with slow technology adoption. Further, strong growth is expected in all technology verticals, presenting opportunities for IoT solutions and service providers.
Furthermore, IoT in the oil and gas industry enables real-time equipment, fleet, environmental conditions monitoring, and better transparency and control over processes. It also allows for on-demand equipment maintenance and optimizes related costs and effort. Moreover, IoT ensures better safety and transfers risky on-site operations to robots and UAVs. It also introduces automation, including automated leakage and breakage control.
COMPETITIVE INSIGHTS
Leading players in the North America IoT in energy & utility application market include Oracle Corporation, Capgemini SE, International Business Machines Corporation (IBM), etc.
Oracle Corporation provides a comprehensive and fully integrated stack of platform services, engineered systems, and cloud applications. The company offers computer hardware software and products and services, including middleware and database software, cloud infrastructure, application software, hardware systems such as storage, computer servers, networking products, and related support and services. The company has its operations across the Middle East, the Americas, Europe, and Asia-Pacific. The company is headquartered in Redwood Shores, California, the United States.
One of its most popular tools, Oracle Utilities Analytics, provides prebuilt extractors and schema for Oracle utility applications. It delivers a rich set of graphics, mapping, and mash-up tools. The product also offers near real-time analytics and enables analytic depth and breadth at a fraction of the cost. Further, it is built on Oracle Business Intelligence, the leading enterprise platform.
Please note:The single user license is non-downloadable and non-printable. Global Site license allows these actions.
- 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. North America
- 8.1.1. Market Size & Estimates
- 8.1.2. North America Iot In Energy & Utility Application Market Drivers
- 8.1.3. North America Iot In Energy & Utility Application Market Challenges
- 8.1.4. Key Players In North America Iot In Energy & Utility Application Market
- 8.1.5. Country Analysis
- 8.1.5.1. United States
- 8.1.5.1.1. United States Iot In Energy & Utility Application Market Size & Opportunities
- 8.1.5.2. Canada
- 8.1.5.2.1. Canada 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
Research Assistance
Download our eBook: How to Succeed Using Market Research
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook