IoT in Utilities Market to Witness Tremendous Growth by IBM, Oracle, Verizon, Cisco, Vodafone, Telit, Landis Gyr, Itron
The Global IoT in Utilities Market 2032 Industry Report is a professional and in-depth study on the current state of the IoT in Utilities Market by QMI. The IoT in Utilities Market is supposed to demonstrate a considerable growth during the forecast period of 2023-2032. The company profiles of all the key players and brands that are dominating the market have been given in this report. Their moves like product launches, joint ventures, mergers and acquisitions and the respective effect on the sales, import, export, revenue and CAGR values have been studied completely in the report.
The idea behind the Internet of Things is to create cutting-edge products and services, boost efficiency and productivity, resolve pressing issues, and enhance real-time decision-making. IoT is a new trend in all industries, and the utility sector is investing in this technology to change business processes and enhance customer satisfaction. The public service sector is currently primarily governed by policy and the requirement to adhere to statutory regulations. Concerns about cost savings are another driving force behind it.
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Impact Factors of IoT in Utilities Market:
• Smart metres, which offer real-time data on transmission and power consumption, are the primary factor driving IoT in the utility market.
• Additionally, it encourages the development of small-scale energy sources like wind turbines and solar panels, which opens up opportunities for new revenue streams and increases production and distribution efficiency.
Recent Developments of IoT in Utilities Market:
• To update the water distribution system at the Consolidated Utility District, Itron and a Brazilian utility company signed a contract in December of this year (CUDRC). The utility will install Itron Smart Water Communication Modules throughout their 1,400 miles of water lines in accordance with the contract. In order to increase operational effectiveness, track water loss, and simplify metre reading, CUDRC will make use of Itron’s network.
• Schneider Electric announced the launch of the EcoStruxure Distributed Energy Resource Management System in November 2019. (DERMS).. Peak load management, load relief, voltage optimization, and Value Added Reseller (VAR) support will all be automated by EcoStruxure DERMS.
• The largest smart grid project in South America began in October 2019 with a partnership between Landis Gyr and Brazilian electricity utility provider Light.
Segmentations Covered in the Report:
Detailed segmentation by area (country), business, type, and application are included in the IoT in Utilities market research analysis. The research offers comprehensive details on new products, regional investments, and market investments. The IoT in Utilities market research report also monitors emerging technologies and trends. The most recent market dynamics, including motivating and inhibiting factors, as well as business news like mergers and acquisitions and investments, are also included in the study. This analysis of current market trends from 2023 to 2032 is provided for each of the sub-segments.
Market Segmentation:
By Component (Platform, Services, Solutions),
By Solution (Asset Monitoring Management, CIS & Billing System, Safety & Security, Supervisory Control & Data Acquisition (SCADA), Workforce Management, Network Management),
By Service (Consulting, Integration & Deployment, Support & Maintenance),
By Application (Electricity Grid Management Water & Wastewater Management, Utility Gas Management)
The Key Players in this Market are: IBM, Oracle, Verizon, Cisco, Vodafone, Telit, Landis Gyr, Itron, Schneider Electric, Huawei, Trimble, Aclara, Trilliant, Energyworx, HCL, Altair, Actility, Waviot, Rayven, Saviant Consulting, ABB, Siemens, Honeywell, GE
Regional Overview:
North America (The US, Canada, and Mexico)
Asia-Pacific (Japan, China, India, South Korea, Indonesia, Australia, Rest of Asia Pacific)
Europe (Germany, UK, Italy, Russia, Spain, The Netherlands France, Rest of Europe)
South America (Brazil, Argentina, Columbia, Rest of South America)
Middle East & Africa (United Arab Emirates, Saudi Arabia, South Africa, Rest of Middle East & Africa)
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Reasons for Buying IoT in Utilities Market Report:
– This report gives a forward-looking prospect of various factors driving or restraining market growth.
– It renders an in-depth analysis for changing competitive dynamics.
– It presents a detailed analysis of changing competition dynamics and puts you ahead of competitors.
– It gives a ten-year forecast evaluated on the basis of how the market is predicted to grow.
– It assists in making informed business decisions by performing a pin-point analysis of market segments and by having complete insights of the IoT in Utilities Market.
– This report helps the readers understand key product segments and their future.
– From 2015 to 2023, All Recent Developments have been covered in this Report.
The Research study can answer the following Key questions:
- What will be the progress rate of the IoT in Utilities Market for the conjecture period, 2032?
- What are the prominent factors driving the IoT in Utilities Market across different regions?
- Who are the major vendors dominating the IoT in Utilities industry and what are their winning strategies?
- What will be the market scope for the estimated period?
- What are the major trends shaping the expansion of the industry in the coming years?
- What are the challenges faced by the IoT in Utilities Market?
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