Global IoT in Energy Grid Management Market Growth (Status and Outlook) 2023-2029

Global IoT in Energy Grid Management Market Growth (Status and Outlook) 2023-2029

The Internet of Things (IoT) is the network of physical devices, vehicles, home appliances, and other items embedded with electronics, software, sensors, actuators, and connectivity which enables these things to connect and exchange data, creating opportunities for more direct integration of the physical world into computer-based systems, resulting in efficiency improvements, economic benefits, and reduced human exertions.

According to this study, the global IoT in Energy Grid Management market size will reach US$ million by 2029.

Significant numbers of energy-consuming devices (e.g. switches, power outlets, bulbs, televisions, etc.) already integrate internet connectivity, which can allow them to communicate with utilities to balance power generation and energy usage and optimize energy consumption as a whole. These devices allow for remote control by users, or central management via a cloud-based interface, and enable functions like scheduling (e.g., remotely powering on or off heating systems, controlling ovens, changing lighting conditions etc.). The Smart grid is a utility-side IoT application; systems gather and act on energy and power-related information to improve the efficiency of the production and distribution of electricity. Using advanced metering infrastructure (AMI) internet-connected devices, electric utilities not only collect data from end-users, but also manage distribution automation devices like transformers.

This report presents a comprehensive overview, market shares, and growth opportunities of IoT in Energy Grid Management market by product type, application, key players and key regions and countries.

Segmentation by product type:
Hardware
Software
Service

Segmentation by Application:
Generation
Power Transmission and Distribution
Substation automation

This report also splits the market by region:
United States
China
Europe
Other regions:
Japan
South Korea
Southeast Asia
Rest of world

The report also presents the market competition landscape and a corresponding detailed analysis of the major players in the market. The key players covered in this report:
Accenture
Cisco
Intel
Schneider Electric
Siemens
Actility
Bosch Software Innovations
Huawei
Sierra Wireless
Texas Instruments
ThingWorx

Please note: The report will take approximately 2 business days to prepare and deliver.