Internet of Things in Energy Market by Component, Application, End-use

Description

List of Tables

The Internet of Things in Energy Market was valued at USD 24.73 billion in 2023, expected to reach USD 27.24 billion in 2024, and is projected to grow at a CAGR of 10.44%, to USD 49.57 billion by 2030.

The Internet of Things (IoT) in the energy sector encompasses the integration of connected devices and data analytics technologies to optimize energy management, enhance efficiency, and improve reliability across various points in the energy supply chain. IoT is pivotal in addressing the growing complexity of energy demands and the shift towards renewable sources, playing a crucial role in smart grid development, real-time monitoring, and data-driven decision-making. End-use applications extend from residential and commercial sectors to utilities and smart grids, enhancing operations like energy consumption management, predictive maintenance, and demand response. Key growth drivers include increasing regulatory support for energy efficiency, a surge in smart city initiatives, and advancements in sensor technology. IoT applications facilitate real-time analytics, reducing operational costs while enhancing sustainability efforts. Emerging opportunities lie in integrating artificial intelligence and blockchain for secured, efficient energy transactions and management. An effective utilization of IoT can lead to considerable energy conservation and operational excellence, especially through predictive analytics and automated control systems. However, challenges such as data privacy concerns, interoperability issues, and high initial investment costs can impede market growth. The complexities of retrofitting existing infrastructure with IoT capabilities also present significant hurdles. Overcoming these challenges necessitates strategic partnerships, focus on cybersecurity enhancements, and the development of flexible, scalable IoT solutions. Market players should capitalize on increasing investment in smart grid technologies and the expansion of renewable energy setups to innovate. Research should focus on seamless integration of IoT with advanced analytics, edge computing, and decentralized energy systems to enhance scalability and reliability. In essence, while the IoT market in the energy sector is burgeoning with potential, its sustained growth hinges on addressing these technological and structural challenges, driving unified standards, and fostering innovation to unlock new levels of efficiency and service delivery in the energy ecosystem.

KEY MARKET STATISTICS
Base Year [2023]	USD 24.73 billion
Estimated Year [2024]	USD 27.24 billion
Forecast Year [2030]	USD 49.57 billion
CAGR (%)	10.44%

Market Dynamics: Unveiling Key Market Insights in the Rapidly Evolving Internet of Things in Energy Market

The Internet of Things in Energy Market is undergoing transformative changes driven by a dynamic interplay of supply and demand factors. Understanding these evolving market dynamics prepares business organizations to make informed investment decisions, refine strategic decisions, and seize new opportunities. By gaining a comprehensive view of these trends, business organizations can mitigate various risks across political, geographic, technical, social, and economic domains while also gaining a clearer understanding of consumer behavior and its impact on manufacturing costs and purchasing trends.

Market Drivers
- Growing demand of IoT based sensors and webcams for energy monitoring and security
- Rise in smart city infrastructure and adoption of smart energy meters
- Higher potential of energy IoT solutions in predictive protocols and proactive repair mechanism
Market Restraints
- High costs associated with energy IoT solutions
Market Opportunities
- Technological advancements and rising investments in IoT
- Emerging investments in smart grid technologies
Market Challenges
- Data security risks associated with IoT technologies

Porter's Five Forces: A Strategic Tool for Navigating the Internet of Things in Energy Market

Porter's five forces framework is a critical tool for understanding the competitive landscape of the Internet of Things in Energy Market. It offers business organizations with a clear methodology for evaluating their competitive positioning and exploring strategic opportunities. This framework helps businesses assess the power dynamics within the market and determine the profitability of new ventures. With these insights, business organizations can leverage their strengths, address weaknesses, and avoid potential challenges, ensuring a more resilient market positioning.

PESTLE Analysis: Navigating External Influences in the Internet of Things in Energy Market

External macro-environmental factors play a pivotal role in shaping the performance dynamics of the Internet of Things in Energy Market. Political, Economic, Social, Technological, Legal, and Environmental factors analysis provides the necessary information to navigate these influences. By examining PESTLE factors, businesses can better understand potential risks and opportunities. This analysis enables business organizations to anticipate changes in regulations, consumer preferences, and economic trends, ensuring they are prepared to make proactive, forward-thinking decisions.

Market Share Analysis: Understanding the Competitive Landscape in the Internet of Things in Energy Market

A detailed market share analysis in the Internet of Things in Energy Market provides a comprehensive assessment of vendors' performance. Companies can identify their competitive positioning by comparing key metrics, including revenue, customer base, and growth rates. This analysis highlights market concentration, fragmentation, and trends in consolidation, offering vendors the insights required to make strategic decisions that enhance their position in an increasingly competitive landscape.

FPNV Positioning Matrix: Evaluating Vendors' Performance in the Internet of Things in Energy Market

The Forefront, Pathfinder, Niche, Vital (FPNV) Positioning Matrix is a critical tool for evaluating vendors within the Internet of Things in Energy Market. This matrix enables business organizations to make well-informed decisions that align with their goals by assessing vendors based on their business strategy and product satisfaction. The four quadrants provide a clear and precise segmentation of vendors, helping users identify the right partners and solutions that best fit their strategic objectives.

Strategy Analysis & Recommendation: Charting a Path to Success in the Internet of Things in Energy Market

A strategic analysis of the Internet of Things in Energy Market is essential for businesses looking to strengthen their global market presence. By reviewing key resources, capabilities, and performance indicators, business organizations can identify growth opportunities and work toward improvement. This approach helps businesses navigate challenges in the competitive landscape and ensures they are well-positioned to capitalize on newer opportunities and drive long-term success.

Key Company Profiles

The report delves into recent significant developments in the Internet of Things in Energy Market, highlighting leading vendors and their innovative profiles. These include Amazon Web Services, Inc., Autodesk, Inc., Brightly Software, Inc. by Siemens Limited, BuildingIQ, Inc., CopperTree Analytics by Dar Group, Data EnergyElephant Ltd., Digiteum LLC, Ekotrope, EndurEnergy Systems, Inc., Enef, EnergyCAP, LLC, Fabriq Ltd., Fortive Corporation, Galooli Ltd., Johnson Controls International PLC, Operation Technology, Inc., Phoenix Contact GmbH & Co. KG, Schneider Electric, Sensital, Softweb Solutions Inc. by Avnet Company, Spacewell International NV, Tally Group Limited, Telit, and Zoho Corporation Pvt. Ltd..

Market Segmentation & Coverage

This research report categorizes the Internet of Things in Energy Market to forecast the revenues and analyze trends in each of the following sub-markets:

Based on Component, market is studied across Hardware, Services, and Software. The Hardware is further studied across Beacons, Cameras, IoT Gateways & Network Devices, Processors, and Sensors & Actuators. The Services is further studied across Consulting, Integration & Deployment, and Training.
Based on Application, market is studied across Asset Management, Compliance & Risk Management, Data Management & Analytics, Energy Management, Network Management, Security, and Supervisory Control & Data Acquisition.
Based on End-use, market is studied across Biomass, Coal Mining, Hydropower, Natural Gas, and Wind & Solar Power.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom.

The report offers a comprehensive analysis of the market, covering key focus areas:

1. Market Penetration: A detailed review of the current market environment, including extensive data from top industry players, evaluating their market reach and overall influence.

2. Market Development: Identifies growth opportunities in emerging markets and assesses expansion potential in established sectors, providing a strategic roadmap for future growth.

3. Market Diversification: Analyzes recent product launches, untapped geographic regions, major industry advancements, and strategic investments reshaping the market.

4. Competitive Assessment & Intelligence: Provides a thorough analysis of the competitive landscape, examining market share, business strategies, product portfolios, certifications, regulatory approvals, patent trends, and technological advancements of key players.

5. Product Development & Innovation: Highlights cutting-edge technologies, R&D activities, and product innovations expected to drive future market growth.

The report also answers critical questions to aid stakeholders in making informed decisions:

1. What is the current market size, and what is the forecasted growth?

2. Which products, segments, and regions offer the best investment opportunities?

3. What are the key technology trends and regulatory influences shaping the market?

4. How do leading vendors rank in terms of market share and competitive positioning?

5. What revenue sources and strategic opportunities drive vendors' market entry or exit strategies?

Product Code: MRR-F6513A06BF0E

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Growing demand of IoT based sensors and webcams for energy monitoring and security
  - 5.1.1.2. Rise in smart city infrastructure and adoption of smart energy meters
  - 5.1.1.3. Higher potential of energy IoT solutions in predictive protocols and proactive repair mechanism
- 5.1.2. Restraints
  - 5.1.2.1. High costs associated with energy IoT solutions
- 5.1.3. Opportunities
  - 5.1.3.1. Technological advancements and rising investments in IoT
  - 5.1.3.2. Emerging investments in smart grid technologies
- 5.1.4. Challenges
  - 5.1.4.1. Data security risks associated with IoT technologies
5.2. Market Segmentation Analysis
5.3. Porter's Five Forces Analysis
- 5.3.1. Threat of New Entrants
- 5.3.2. Threat of Substitutes
- 5.3.3. Bargaining Power of Customers
- 5.3.4. Bargaining Power of Suppliers
- 5.3.5. Industry Rivalry
5.4. PESTLE Analysis
- 5.4.1. Political
- 5.4.2. Economic
- 5.4.3. Social
- 5.4.4. Technological
- 5.4.5. Legal
- 5.4.6. Environmental

6. Internet of Things in Energy Market, by Component

6.1. Introduction
6.2. Hardware
- 6.2.1. Beacons
- 6.2.2. Cameras
- 6.2.3. IoT Gateways & Network Devices
- 6.2.4. Processors
- 6.2.5. Sensors & Actuators
6.3. Services
- 6.3.1. Consulting
- 6.3.2. Integration & Deployment
- 6.3.3. Training
6.4. Software

7. Internet of Things in Energy Market, by Application

7.1. Introduction
7.2. Asset Management
7.3. Compliance & Risk Management
7.4. Data Management & Analytics
7.5. Energy Management
7.6. Network Management
7.7. Security
7.8. Supervisory Control & Data Acquisition

8. Internet of Things in Energy Market, by End-use

8.1. Introduction
8.2. Biomass
8.3. Coal Mining
8.4. Hydropower
8.5. Natural Gas
8.6. Wind & Solar Power

9. Americas Internet of Things in Energy Market

9.1. Introduction
9.2. Argentina
9.3. Brazil
9.4. Canada
9.5. Mexico
9.6. United States

10. Asia-Pacific Internet of Things in Energy Market

10.1. Introduction
10.2. Australia
10.3. China
10.4. India
10.5. Indonesia
10.6. Japan
10.7. Malaysia
10.8. Philippines
10.9. Singapore
10.10. South Korea
10.11. Taiwan
10.12. Thailand
10.13. Vietnam

11. Europe, Middle East & Africa Internet of Things in Energy Market

11.1. Introduction
11.2. Denmark
11.3. Egypt
11.4. Finland
11.5. France
11.6. Germany
11.7. Israel
11.8. Italy
11.9. Netherlands
11.10. Nigeria
11.11. Norway
11.12. Poland
11.13. Qatar
11.14. Russia
11.15. Saudi Arabia
11.16. South Africa
11.17. Spain
11.18. Sweden
11.19. Switzerland
11.20. Turkey
11.21. United Arab Emirates
11.22. United Kingdom

12. Competitive Landscape

12.1. Market Share Analysis, 2023
12.2. FPNV Positioning Matrix, 2023
12.3. Competitive Scenario Analysis
12.4. Strategy Analysis & Recommendation

Companies Mentioned

1. Amazon Web Services, Inc.
2. Autodesk, Inc.
3. Brightly Software, Inc. by Siemens Limited
4. BuildingIQ, Inc.
5. CopperTree Analytics by Dar Group
6. Data EnergyElephant Ltd.
7. Digiteum LLC
8. Ekotrope
9. EndurEnergy Systems, Inc.
10. Enef
11. EnergyCAP, LLC
12. Fabriq Ltd.
13. Fortive Corporation
14. Galooli Ltd.
15. Johnson Controls International PLC
16. Operation Technology, Inc.
17. Phoenix Contact GmbH & Co. KG
18. Schneider Electric
19. Sensital
20. Softweb Solutions Inc. by Avnet Company
21. Spacewell International NV
22. Tally Group Limited
23. Telit
24. Zoho Corporation Pvt. Ltd.