Updated 2025 Market Reports Released: Trends, Forecasts to 2034 – Early Purchase Your Competitive Edge Today!
What Does the IoE in Utilities Market Size and Growth Rate Look Like?
The IoT in utilities market has witnessed rapid growth in recent years, growing from $52.31 billion in 2024 to $57.91 billion in 2025, indicating a Compound Annual Growth Rate (CAGR) of 10.7%. This growth in the historic period can be attributed to factors like early adopters and pilot projects, regulatory requirements, demand response and energy conservation, predictive maintenance, and smart meter deployment.
Further, the market is projected to multiply to a significant $105.03 billion in 2029, with a compound annual growth rate of 16.0%. The forecast period is expected to be characterized by customer-centric services, cybersecurity measures, smart cities and infrastructure development, water and waste management solutions, major trends including grid modernization, energy efficiency and optimization, renewable energy integration, asset management and predictive maintenance, and smart metering and billing.
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What’s Propelling the Growth of IoT in Utilities Market Forward?
The increasing demand for digitization is catalyzing the growth of the IoT in the utility market. The implementation of digital tools in this sector enables more efficient monitoring and upgrading of physical infrastructure, thereby improving workforce security, effectiveness, and client interaction. Digitization also enhances the integration of distributed systems with advanced grid digital technology. For instance, in April 2022, the utility sector saw a hike in the adoption of digitization technology driven by a reduction in operating expenses of up to 25% and performance gains of 20% to 40% in areas such as reliability, customer satisfaction, and regulatory compliance.
Which Are the Key Market Segments in IoT in Utilities?
The market report covers the following primary segments:
– By Component: Platform, Solutions, Services, Other Components
– By Technology: Sensors, RFID, Connectivity Technology
– By Application: Electricity Grid Management, Gas Management, Water and Waste Management, Other Applications
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Who Are the Key Players Influencing the IoT in Utilities Market?
Major companies operating in the IoT in utilities sector include International Business Machines Corporation, Oracle Corporation, Verizon Communications Inc., Cisco Systems Inc., Vodafone Group Plc, Telit Communications PLC, Landis+Gyr AG, Itron Inc., Schneider Electric SE, Huawei Technologies Co. Ltd., Trimble Inc., Asea Brown Boveri Corporation, Honeywell International Inc., Siemens AG, General Electric, Aclara Technologies LLC, Trilliant Networks Inc, Energyworx, Hindustan Computers Limited, Altair Engineering, Actility S. A, WAVIoT, Rayven LLC, Bosch Software Innovations, C3. ai Inc., Parametric Technology Corporation, Spectrum, Samsara Inc., Advanced RISC Machines Ltd., Sierra Wireless, SoluLab, Silver Spring Networks, Sensus, Badger Meter Inc., Kamstrup A/S, Elster Group GmbH.
What Are the Market Trends in the IoT in Utilities Industry?
Integration of new technologies is a key trend gaining traction in the IoT in the utility market. Major players in the sector are striving to integrate new technologies to gain a competitive edge. For instance, a Dubai-based utility firm, Dubai Electricity and Water Authority (DEWA), launched a 6U nanosatellite equipped with customized high-resolution image sensing technology specifically designed to interact with its IoT terminals in March 2022. These satellites are mainly to be used in energy and water networks to detect thermal fingerprints in substations, homes, solar power stations, and excessive voltage transmission lines.
Which Region Leads the IoT in Utilities Market Racing?
North America led the IoT in utilities market in 2024, with Asia-Pacific predicted to be the fastest-growing region in the forecast period. The report covers several regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The IoT In Utilities Market Report 2025 Offer?
The IoT in utilities involves developing state-of-the-art solutions to enhance accuracy and productivity, enabling efficient problem-solving and real-time decision-making. It is used to regulate power resources distribution, reduce emissions, accommodate renewables integration, and improve system efficiency. The IoT in the utility encompasses creating robust connected networks for data flows among distributed energy resources (DERs), in-home devices, and nano/microgrids.
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