What Are the Predicted Trends and Market Size for The Internet Of Things (IoT) In Energy Market?
The market size of IoT in the energy sector has witnessed substantial growth recently. The value has risen from $25.97 billion in 2024 to an anticipated $28.68 billion in 2025 at a compound annual growth rate (CAGR) of 10.4%. This significant growth in the historic period is accredited to needs for cost reduction, smart grid development, rising energy demand, environmental concerns, grid modernization initiatives.
With an expected rapid growth in the next few years, the IoT in energy market size is set to increase to $47.41 billion in 2029 at a compound annual growth rate (CAGR) of 13.4%. The predicted growth in the forecasted period is attributed to the factors like decentralized energy generation, real-time asset monitoring, IoT device proliferation, energy management systems, and climate change mitigation.
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What Factors are Driving The Growth of The Internet Of Things (IoT) In Energy Market?
The increasing adoption of energy management is expected to propel the growth of the internet of things in the energy market going forward. Energy management systems using IoT-based real-time power consumption data aid in optimizing electricity use and shifting to more resource-efficient regimes. These systems contribute to creating efficient and sustainable energy consumption strategies based on usage patterns, thereby driving more need for IoT solutions in the energy industry.
What Segments Contribute to The Internet Of Things (IoT) In Energy Market?
1) By Component: Solution, Platforms, Services
2) By Technology: Cellular Network, Satellite Network, Radio Network, Other Technologies
3) By Application: Energy Generation, Energy Consumption, Network Security, Email Security, Database And Cloud Security, Other Applications
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What Companies Are Among The Major Players In The Internet Of Things (IoT) In Energy Market?
Significant players that contribute to the growth of the IoT in energy market include Cisco Systems Inc., International Business Machines Corporation, Intel Corporation, SAP SE, AGT International, Davra Networks, HCL Technologies Limited, Accenture PLC, Google LLC, Altair Engineering Inc., Siemens AG, Schneider Electric SE, Rockwell Automation Inc., Asea Brown Boveri Ltd., Aclara Technologies LLC, C3.ai Inc., Honeywell International Inc., Vodafone Group PLC, Duke Energy Corporation, Enel S.p.A., Électricité de France, Pacific Gas and Electric Company, National Grid PLC, and Southern Company.
What Are The Major Trends Evident In The Internet Of Things (IoT) In Energy Market?
Product innovation is a key influential trend prevalent in the IoT in energy market. Companies are progressively focused on developing innovative solutions to maintain their market influence. Such strategic initiatives provide operators contextual data, identifying the best energy consumption levels required to maintain plant operations and reduce waste.
Which Region Is Foreseen To Exhibit the Highest Growth In The Internet Of Things (IoT) In Energy Market?
In 2024, North America was the largest stakeholder in the IoT in energy market followed by Asia-Pacific, which is anticipated to be the fastest-growing region in the global internet of things (IoT) in energy market during the forecast period.
What Does The Internet Of Things (IoT) In Energy Market Report 2025 Offer?
The IoT in the energy market incorporates a network of interconnected devices and systems that collect, transmit, and analyze data on energy generation, distribution, and consumption. This real-time monitoring and management of energy resources lead to smarter and more efficient energy systems. The Internet Of Things (IoT) In Energy Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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