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(I-SoftwareNews.Com, August 14, 2018 ) Market Overview:-
IoT Utilities Market is expected to grow at a double digit CAGR to reach USD 15 billion by 2024. Increasing concerns for efficient usage of energy sources to meet the growing energy demand will drive the IoT Utilities Market growth over the forecast timeline. The technology has huge potential to transform the power sector pertaining to the benefits such as obtaining visibility into business processes in real-time. Furthermore, growing demand for improvising the operational efficiency in the sector is providing impetus to the industry demand.
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Rising adoption of cloud platforms across the sector coupled with government initiatives for smart grid modernization across the U.S., UK, China and India provides lucrative growth opportunities to the IoT utilities market. For instance, smart grid modernization initiative by Indian MNC Crompton Greaves, NDPL offer significant opportunities to the industry. Smart grids allow the efficient & timely distribution of generated energy providing security & reliability to the users. It has the potential to reshape the electric power grid with the use of the technology by integration of devices, processes and the infrastructure making it a more connected process.
Top Key Players:-
Companies operating in the IoT utilities market include IBM Corporation, Cisco Systems Inc., Intel Corporation, Huawei Technologies Inc., Honeywell International Inc., Trilliant Inc., Microsoft Corporation, Osisoft LLC and General Electric. These technological solutions are considered as a necessity for the sector eliminating the need for physical visit for fault detection and restoration. The companies are investing heavily on R&D for fully connected solutions covering every aspect of the sector.
Market share calculation in this report is not done based on companies covered in it. The calculation of IoT utilities market share is done based on a regional approach and countries covered. On request, additional companies can be covered as well as regional data for particular country / countries can be provided.
Regional Segmentations: -
Asia Pacific IoT utilities market will witness substantial growth over the forecast timeline. The growth can be credited to the presence of large number of electricity & gas production facilities across the region. Growing adoption of digital technology followed by the increasing rate of use cases across the sector further contributes to the industry demand. Heavy investments by the utility companies across the region to upgrade energy infrastructure is boosting the consumption. However, North America IoT utilities market will grow considerably owing to increasing demand for smart solutions coupled with the presence of advanced infrastructure across the region.
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Partial Chapter of the Table of Content
Chapter 1. Methodology & Scope
1.1. Methodology
1.1.1. Initial data exploration
1.1.2. Statistical model and forecast
1.1.3. Industry insights and validation
1.1.4. Scope, definition and research parameters
1.2. Data Sources
1.2.1. Primary
1.2.2. Secondary
Chapter 2. Executive Summary
2.1. IoT utilities industry 360º synopsis, 2013 - 2024
2.1.1. Business trends
2.1.2. Regional trends
2.1.3. Platform trends
2.1.4. Technology trends
2.1.5. Component trends
2.1.6. Application trends
2.1.7. Service trends
Chapter 3. Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2013 - 2024
3.3. Industry ecosystem analysis
3.3.1. Component suppliers
3.3.2. Software providers
3.3.3. Technology providers
3.3.4. Service providers
3.3.5. System integrators
3.3.6. Vendor matrix
3.3.7. Distribution channel analysis
3.4. Technology & innovation landscape
3.5. Regulatory landscape
3.5.1. U.S.
3.5.2. EU
3.5.3. China
3.6. Industry impact forces
3.6.1. Growth drivers
3.6.1.1. Increasing demand to enhance the operational efficiency in the U.S
3.6.1.2. Technological advancements in the U.S.
3.6.1.3. Low cost of components in Asia Pacific
3.6.1.4. Rising government initiatives in China and India
3.6.1.5. Growing adoption of cloud platform in Europe
3.6.1.6. Increasing demand for monitoring utility facilities in Europe
3.6.2. Industry pitfalls & challenges
3.6.2.1. Data security & privacy concerns
3.6.2.2. Unavailability of skilled workforce
3.6.2.3. High implementation cost
3.7. Growth potential analysis
3.8. Porter's analysis
3.9. Competitive landscape, 2016
3.9.1. Strategy dashboard
3.10. PESTEL analysis
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Increasing number of cyber-attacks accessing highly confidential data is expected to curb the rate of implementation of such technology. Absence of skilled workforce followed by the lack of proper standards might limit the IoT utilities market growth over the forecast timeline. Rising need for monitoring facilities located in areas inaccessible manually is expected to fuel the IoT utilities market growth. In addition, increasing demand to monitor the status of worker’s health leads to the huge demand for sophisticated sensor devices. Sensors are deployed at multiple check points across the facility to gain visibility into every equipment and processes. It provides insights to identify any kind of leakage & damaged infrastructure resulting in timely repair.
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
Global Market Insights, Inc.
Arun Hegde
1-888-689-0688
sales@gminsights.com
Source: EmailWire.Com 
Source: EmailWire.com
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