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IoT in Utilities Market by Component (Platform, Solutions (Asset Monitoring and Management and CIS and Billing), Services), Application (Electricity Grid Management Water and Wastewater Management), Region - Global Forecast to 2024

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Date: 10-Jan-2020
No. of pages: 155
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“The global IoT in utilities market size to grow at a CAGR of 13.5% during the forecast period”

The global Internet of Things (IoT) in utilities market size is expected to grow from USD 28.6 billion in 2019 to USD 53.8 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 13.5% during the forecast period. Factors, such as the rising trend of deregulating utility industry, and need for operational efficiency and control are expected to drive the growth of the market. The growing deregulation of the utility industry is increasing the entry of new innovative players into the market, bringing new innovations in the industry. It further increases market competitiveness to provide efficient services to the consumer. Companies offering IoT, Artificial Intelligence (AI), and Machine Learning (ML)-enabled utility solutions focus on improving their plant control and overall production and management. These technologies enables agility and flexibility, thus increasing the control of the system. This has enforced utility companies to use operational efficient IoT-based solutions in their organizations.

Solutions segment to lead the IoT In Utilities market in 2019

The solutions segment includes solutions, such as asset monitoring and management, safety and security, Supervisory Control And Data Acquisition (SCADA), network management, workforce management, and Customer Information System (CIS) and billing systems. These solutions help utilities to maintain operational efficiency of the organization and provide seamless services to the customers. IoT technology solutions have helped utilities integrate various business processes, pushing the utility industry toward the growth phase in an exponential way. Integrating technologies with existing operations is further expected to increase enterprise operational efficiency even with less infrastructure investment.

Electricity grid management application segment to lead the market in 2019

The development of grid technology has benefitted traditional energy infrastructure vendors and offered business opportunities for emerging players that plan to serve untapped market opportunities. The replacement of aging utility infrastructure, and deployment of Advanced Metering Infrastructure (AMI), and smart grid applications are identified as major business opportunities for traditional vendors. Emerging market players, such as hardware providers, semiconductor companies, telecom and networking infrastructure companies, and software firms will are expected to benefit from major technology investments in IoT-based grid projects by regional governments.

North America to lead the IoT in utilities market in 2019

North America has been a leader in the adoption of smart grid technology and a large share of the major utilities in the region are now fully deployed or in the implementation or planning stages of full-scale rollouts. In the last few years, numerous utility companies in the US have agreed to deploy smart utility schemes, where one of the main objectives is to offer second-generation advanced metering infrastructure, communication modules, asset management, workforce management, security features, analytics, and Meter Data Management (MDM). Financial sound companies across the region enable heavy utility-related investments on leading tools and technologies for effective energy consumption. On the other hand, Canada has been emphasizing on enhancing its power supply capabilities and up gradation of its electric grid infrastructure. This has enforced technology vendors in the region to increase their presence in the North American region.

In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the IoT in utilities market.

The following list provides the breakup of primary respondents’ profiles:


  • By Company Type: Tier 1: 46%, Tier 2: 38%, and Tier 3: 16%

  • By Designation: C-level Executives: 52%,Director Level: 34%, and Others:14%

  • By Region: North America: 38%, Europe: 28%, Asia Pacific (APAC): 25%, Middle East and Africa (MEA): 6%, and Latin America: 3%


Major vendors in the global IoT in utilities market include IBM (US), Oracle (US), Verizon (US), Cisco (US), Vodafone (UK), Telit (UK), Landis Gyr (Switzerland), Itron (US), Schneider Electric (France), Huawei (China), Trimble (US), Aclara (US), Trilliant (US), Energyworx (Netherlands), HCL (India), Altair (US), Actility (France), Waviot (Russia), Rayven (Australia), Saviant Consulting (India), ABB (Switzerland), Siemens (Germany), Honeywell (US), and GE (US).

Research coverage:

The report includes an in-depth competitive analysis of key players in the IoT in utilities market, along with their company profiles, recent developments, and key market strategies. The report segments the global IoT in utilities market by component, solutions, services, application, and region.

Key benefits of buying the report:

The report would provide market leaders/new entrants in the IoT in utilities market, with information on the closest approximations of the revenue numbers for the overall IoT in utilities market and sub segments. The report would help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. It further helps stakeholders understand the pulse of the market and provides them with information on the key market drivers, restraints, challenges, and opportunities.

IoT in Utilities Market by Component (Platform, Solutions (Asset Monitoring and Management and CIS and Billing), Services), Application (Electricity Grid Management Water and Wastewater Management), Region - Global Forecast to 2024

Table of Contents

1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.2.1 Inclusions and Exclusions
1.3 Market Scope
1.3.1 Market Segmentation
1.3.2 Regions Covered
1.4 Years Considered for the Study
1.5 Currency Considered
1.6 Stakeholders

2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.2 Primary Data
2.2 Market Breakup and Data Triangulation
2.2.1 Key Industry Insights
2.3 Market Size Estimation
2.4 Market Forecast
2.5 Competitive Leadership Mapping Methodology
2.6 Assumptions for the Study
2.7 Limitations of the Study

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in the IoT in Utilities Market
4.2 Market: Top 3 Components and Regions
4.3 Market, By Region
4.4 Market: Investment Scenario

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Rising Trend of Deregulating the Utilities Industry
5.2.1.2 Need for Operational Efficiency and Control
5.2.2 Restraints
5.2.2.1 Lack of Standards for Interconnectivity and Interoperability
5.2.3 Opportunities
5.2.3.1 Increasing Smart Cities Initiatives Across the World
5.2.4 Challenges
5.2.4.1 Need to Focus on Cost Management and High Return on Investment

6 IoT in Utilities Market, By Component
6.1 Introduction
6.2 Platform
6.2.1 IoT Platform Offers the Framework for Vendors to Develop the Solutions for the Utilities Industry
6.3 Solutions
6.3.1 Solutions Help Solve the Critical Challenges for Utilities Operations and Management
6.4 Services
6.4.1 Need for Consistent Performance of Solutions to Increase the Demand for Services in the market

7 IoT in Utilities Market, By Solution
7.1 Introduction
7.2 Asset Monitoring and Management
7.2.1 Need for Consistent Performance of Assets and Reduced Downtime to Increase the Demand for Asset Monitoring and Management Solutions
7.3 Safety and Security
7.3.1 High Number of IoT Devices Connected Across Platform to Increase the Demand for Safety and Security Solutions
7.4 Supervisory Control and Data Acquisition
7.4.1 Scada System Manages and Optimizes Generation and Transmission Processes of the Utilities Facility
7.5 Workforce Management
7.5.1 Workforce Management to Help Monitor and Manage Human Resources More Efficiently for Avoiding Downtime of the System
7.6 Network Management
7.6.1 Network Management to Help Deliver Better Customer Services and Enhanced Operational Efficiencies
7.7 Customer Information System and Billing System
7.7.1 CIS and Billing System to Enable Utilities Organizations to be Timely and Proactive in Responding to Customer Requests, Market Forces, and Regulatory Changes

8 IoT in Utilities Market, By Service
8.1 Introduction
8.2 Consulting
8.2.1 Consulting Services to Help in Lowering Risk, Reducing Complexity, and Raising Return on Investment
8.3 Integration and Deployment
8.3.1 Integration and Deployment Services to Help in Creating High Opportunities and Accelerating Technological Innovations
8.4 Support and Maintenance
8.4.1 Support and Maintenance Services to Help in Improving Operation Plan and Control Over the Systems

9 IoT in Utilities Market, By Application
9.1 Introduction
9.2 Water and Wastewater Management
9.2.1 IoT to Help Utilities Companies to Improve the Performance of the Water Distribution System
9.3 Utility Gas Management
9.3.1 Need for Efficient Operations in Gas Utilities to Increase the Demand for IoT in Utilities
9.4 Electricity Grid Management
9.4.1 IoT to Help Utilities in Providing Consistent Electricity to Customers

10 IoT in Utilities Market, By Region
10.1 Introduction
10.2 North America
10.2.1 United States
10.2.1.1 Supportive Government Plans for Energy Optimization to Fuel the Growth of the Market in the US
10.2.2 Canada
10.2.2.1 Government Initiatives to Optimize the Utilities Operations to Fuel the Growth of Market
10.3 Europe
10.3.1 United Kingdom
10.3.1.1 Initiatives of Smart Cities to Fuel the Growth of Market
10.3.2 Germany
10.3.2.1 Evolving Energy Policies and Changing Consumer Preference to Fuel the Growth of IoT in Utilities Market
10.3.3 Rest of Europe
10.4 Asia Pacific
10.4.1 China
10.4.1.1 Increasing Adoption of Building Automation Solutions to Fuel the Growth of Market
10.4.2 Japan
10.4.2.1 Strong Government Initiatives to Drive the Market Growth
10.4.3 India
10.4.3.1 Higher Demand for Optimizing Operations of Utilities to Increase the Demand for IoT in Utilities
10.4.4 Rest of Asia Pacific
10.5 Middle East and Africa
10.5.1 Saudi Arabia
10.5.1.1 Rise in the Adoption of Connected Technologies in the Utilities Industry to Increase the Demand for Iot
10.5.2 United Arab Emirates
10.5.2.1 Government Initiative to Fuel the Growth of IoT in Utilities Market
10.5.3 Rest of Middle East and Africa
10.6 Latin America
10.6.1 Brazil
10.6.1.1 Growing Initiatives of Utility Companies for Technological Adoption to Fuel the Growth of Market
10.6.2 Mexico
10.6.2.1 Growing Initiatives of Green Buildings to Fuel the Growth of IoT in Utilities Market
10.6.3 Rest of Latin America

11 Competitive Landscape
11.1 Introduction
11.2 Competitive Leadership Mapping (Overall Market)
11.2.1 Visionary Leaders
11.2.2 Dynamic Differentiators
11.2.3 Innovators
11.2.4 Emerging Companies

12 Company Profiles
12.1 Introduction
(Business Overview, Products and Services Offered, Recent Developments, SWOT Analysis, MnM View)*
12.2 IBM
12.3 Oracle
12.4 Verizon
12.5 Cisco
12.6 Vodafone
12.7 Telit
12.8 Landis+Gyr
12.9 Itron
12.10 Schneider Electric
12.11 Huawei
12.12 Trimble
12.13 ABB
12.14 Honeywell
12.15 Siemens
12.16 General Electric
12.17 Aclara
12.18 Trilliant
12.19 Energyworx
12.20 HCL
12.21 Altair
12.22 Actility
12.23 Waviot
12.24 Rayven
12.25 Saviant Consulting
12.26 Right-To-Win

*Business Overview, Products and Services Offered, Recent Developments, SWOT Analysis, MnM View Might Not be Captured in Case of Unlisted Companies.

13 Appendix
13.1 Discussion Guide
13.2 Knowledge Store: Marketsandmarkets’ Subscription Portal
13.3 Available Customizations
13.4 Related Reports
13.5 Author Details

List of Tables

Table 1 United States Dollar Exchange Rate, 2016–2018
Table 2 Factor Analysis
Table 3 IoT in Utilities Market Size, By Component, 2017–2024 (USD Million)
Table 4 Platform: Market Size, By Region, 2017–2024 (USD Million)
Table 5 Solutions: Market Size, By Region, 2017–2024 (USD Million)
Table 6 Services: Market Size, By Region, 2017–2024 (USD Million)
Table 7 Market Size, By Solution, 2017–2024 (USD Million)
Table 8 Asset Monitoring and Management: Market Size, By Region, 2017–2024 (USD Million)
Table 9 Safety and Security: Market Size, By Region, 2017–2024 (USD Million)
Table 10 SCADA: Market Size, By Region, 2017–2024 (USD Million)
Table 11 Workforce Management: Market Size, By Region, 2017–2024 (USD Million)
Table 12 Network Management: Market Size, By Region, 2017–2024 (USD Million)
Table 13 CIS and Billing System: Market Size, By Region, 2017–2024 (USD Million)
Table 14 IoT in Utilities Market Size, By Service, 2017–2024 (USD Million)
Table 15 Consulting: Market Size, By Region, 2017–2024 (USD Million)
Table 16 Integration and Deployment: Market Size, By Region, 2017–2024 (USD Million)
Table 17 Support and Maintenance: Market Size, By Region, 2017–2024 (USD Million)
Table 18 Market Size, By Application, 2017–2024 (USD Million)
Table 19 Water and Wastewater Management: Market Size, By Region, 2017–2024 (USD Million)
Table 20 Utility Gas Management: Market Size, By Region, 2017–2024 (USD Million)
Table 21 Electricity Grid Management: Market Size, By Region, 2017–2024 (USD Million)
Table 22 IoT in Utilities Market Size, By Region, 2017–2024 (USD Million)
Table 23 North America: Market Size, By Component, 2017–2024 (USD Million)
Table 24 North America: Market Size, By Solution, 2017–2024 (USD Million)
Table 25 North America: Market Size, By Service, 2017–2024 (USD Million)
Table 26 North America: Market Size, By Application, 2017–2024 (USD Million)
Table 27 North America: Market Size, By Country, 2017–2024 (USD Million)
Table 28 United States: IoT in Utilities Market Size, By Component, 2017–2024 (USD Million)
Table 29 United States: Market Size, By Solution, 2017–2024 (USD Million)
Table 30 United States: Market Size, By Service, 2017–2024 (USD Million)
Table 31 United States: Market Size, By Application, 2017–2024 (USD Million)
Table 32 Canada: Market Size, By Component, 2017–2024 (USD Million)
Table 33 Canada: Market Size, By Solution, 2017–2024 (USD Million)
Table 34 Canada: Market Size, By Service, 2017–2024 (USD Million)
Table 35 Canada: IoT in Utilities Market Size, By Application, 2017–2024 (USD Million)
Table 36 Europe: Market Size, By Component, 2017–2024 (USD Million)
Table 37 Europe: Market Size, By Solution, 2017–2024 (USD Million)
Table 38 Europe: IoT in Utilities Market Size, By Service, 2017–2024 (USD Million)
Table 39 Europe:Market Size, By Application, 2017–2024 (USD Million)
Table 40 Europe: Market Size, By Country, 2017–2024 (USD Million)
Table 41 United Kingdom: Market Size, By Component, 2017–2024 (USD Million)
Table 42 United Kingdom: Market Size, By Solution, 2017–2024 (USD Million)
Table 43 United Kingdom: Market Size, By Service, 2017–2024 (USD Million)
Table 44 United Kingdom: Market Size, By Application, 2017–2024 (USD Million)
Table 45 Germany: IoT in Utilities Market Size, By Component, 2017–2024 (USD Million)
Table 46 Germany: Market Size, By Solution, 2017–2024 (USD Million)
Table 47 Germany: Market Size, By Service, 2017–2024 (USD Million)
Table 48 Germany: Market Size, By Application, 2017–2024 (USD Million)
Table 49 Rest of Europe: IoT in Utilities Market Size, By Component, 2017–2024 (USD Million)
Table 50 Rest of Europe: Market Size, By Solution, 2017–2024 (USD Million)
Table 51 Rest of Europe: Market Size, By Service, 2017–2024 (USD Million)
Table 52 Rest of Europe: Market Size, By Application, 2017–2024 (USD Million)
Table 53 Asia Pacific: IoT in Utilities Market Size, By Component, 2017–2024 (USD Million)
Table 54 Asia Pacific: Market Size, By Solution, 2017–2024 (USD Million)
Table 55 Asia Pacific: Market Size, By Service, 2017–2024 (USD Million)
Table 56 Asia Pacific: Market Size, By Application, 2017–2024 (USD Million)
Table 57 Asia Pacific: Market Size, By Country, 2017–2024 (USD Million)
Table 58 China: IoT in Utilities Market Size, By Component, 2017–2024 (USD Million)
Table 59 China: Market Size, By Solution, 2017–2024 (USD Million)
Table 60 China: Market Size, By Service, 2017–2024 (USD Million)
Table 61 China: Market Size, By Application, 2017–2024 (USD Million)
Table 62 Japan: Market Size, By Component, 2017–2024 (USD Million)
Table 63 Japan: Market Size, By Solution, 2017–2024 (USD Million)
Table 64 Japan: IoT in Utilities Market Size, By Service, 2017–2024 (USD Million)
Table 65 Japan: Market Size, By Application, 2017–2024 (USD Million)
Table 66 India: Market Size, By Component, 2017–2024 (USD Million)
Table 67 India: Market Size, By Solution, 2017–2024 (USD Million)
Table 68 India: Market Size, By Service, 2017–2024 (USD Million)
Table 69 India: IoT in Utilities Market Size, By Application, 2017–2024 (USD Million)
Table 70 Rest of Asia Pacific: Market Size, By Component, 2017–2024 (USD Million)
Table 71 Rest of Asia Pacific: Market Size, By Solution, 2017–2024 (USD Million)
Table 72 Rest of Asia Pacific: Market Size, By Service, 2017–2024 (USD Million)
Table 73 Rest of Asia Pacific: Market Size, By Application, 2017–2024 (USD Million)
Table 74 Middle East and Africa: IoT in Utilities Market Size, By Component, 2017–2024 (USD Million)
Table 75 Middle East and Africa: Market Size, By Solution, 2017–2024 (USD Million)
Table 76 Middle East and Africa: Market Size, By Service, 2017–2024 (USD Million)
Table 77 Middle East and Africa: Market Size, By Application, 2017–2024 (USD Million)
Table 78 Middle East and Africa: Market Size, By Country, 2017–2024 (USD Million)
Table 79 Saudi Arabia: IoT in Utilities Market Size, By Component, 2017–2024 (USD Million)
Table 80 Saudi Arabia: Market Size, By Solution, 2017–2024 (USD Million)
Table 81 Saudi Arabia: Market Size, By Service, 2017–2024 (USD Million)
Table 82 Saudi Arabia: Market Size, By Application, 2017–2024 (USD Million)
Table 83 United Arab Emirates: IoT in Utilities Market Size, By Component, 2017–2024 (USD Million)
Table 84 United Arab Emirates: Market Size, By Solution, 2017–2024 (USD Million)
Table 85 United Arab Emirates: Market Size, By Service, 2017–2024 (USD Million)
Table 86 United Arab Emirates: Market Size, By Application, 2017–2024 (USD Million)
Table 87 Rest of Middle East and Africa: IoT in Utilities Market Size, By Component, 2017–2024 (USD Million)
Table 88 Rest of Middle East and Africa: Market Size, By Solution, 2017–2024 (USD Million)
Table 89 Rest of Middle East and Africa: Market Size, By Service, 2017–2024 (USD Million)
Table 90 Rest of Middle East and Africa: Market Size, By Application, 2017–2024 (USD Million)
Table 91 Latin America: IoT in Utilities Market Size, By Component, 2017–2024 (USD Million)
Table 92 Latin America: Market Size, By Solution, 2017–2024 (USD Million)
Table 93 Latin America: Market Size, By Service, 2017–2024 (USD Million)
Table 94 Latin America: Market Size, By Application, 2017–2024 (USD Million)
Table 95 Latin America: Market Size, By Country, 2017–2024 (USD Million)
Table 96 Brazil: IoT in Utilities Market Size, By Component, 2017–2024 (USD Million)
Table 97 Brazil: Market Size, By Solution, 2017–2024 (USD Million)
Table 98 Brazil: Market Size, By Service, 2017–2024 (USD Million)
Table 99 Brazil: Market Size, By Application, 2017–2024 (USD Million)
Table 100 Mexico: IoT in Utilities Market Size, By Component, 2017–2024 (USD Million)
Table 101 Mexico: Market Size, By Solution, 2017–2024 (USD Million)
Table 102 Mexico: Market Size, By Service, 2017–2024 (USD Million)
Table 103 Mexico: Market Size, By Application, 2017–2024 (USD Million)
Table 104 Rest of Latin America: IoT in Utilities Market Size, By Component, 2017–2024 (USD Million)
Table 105 Rest of Latin America: Market Size, By Solution, 2017–2024 (USD Million)
Table 106 Rest of Latin America: Market Size, By Service, 2017–2024 (USD Million)
Table 107 Rest of Latin America: Market Size, By Application, 2017–2024 (USD Million)
Table 108 Evaluation Criteria

List of Figures

Figure 1 IoT in Utilities Market: Research Design
Figure 2 Data Triangulation
Figure 3 Market Size Estimation Methodology: Approach 1 (Supply Side): Revenue of Solutions/Services of the IoT in Utilities Market
Figure 4 Market Size Estimation Methodology: Approach 1 Bottom-Up (Supply Side): Collective Revenue of All Solutions/Services of IoT in Utilities
Figure 5 Market Size Estimation Methodology: Approach 2 Top-Down (Demand Side): Share of IoT in Utilities Through the Overall IoT and Utility Spending
Figure 6 Competitive Leadership Mapping: Criteria Weightage
Figure 7 IoT in Utilities Market, Top 3 Segments, 2019
Figure 8 Market, By Component, 2019
Figure 9 Increasing Number of Connected Devices Across Utility Industry to Drive the Growth of IoT in Utilities Market
Figure 10 Solutions and North America to Hold the Highest Market Shares in 2018
Figure 11 Asia Pacific to Grow at the Highest CAGR During the Forecast Period
Figure 12 Asia Pacific to Emerge as the Best Market for Investments During the Next 5 Years
Figure 13 IoT in Utilities Market: Drivers, Restraints, Opportunities, and Challenges
Figure 14 Solutions Segment to Account for the Largest Market Size During the Forecast Period
Figure 15 Asset Monitoring and Management Segment to Account for the Largest Market Size During the Forecast Period
Figure 16 Integration and Deployment Segment to Account for the Largest Market Size During the Forecast Period
Figure 17 Electricity Grid Management Segment to Account for the Largest Market Size During the Forecast Period
Figure 18 Asia Pacific to Exhibit the Highest CAGR in the Market During the Forecast Period
Figure 19 North America: Market Snapshot
Figure 20 Asia Pacific: Market Snapshot
Figure 21 IoT in Utilities Market (Global) Competitive Leadership Mapping, 2019
Figure 22 IBM: Company Snapshot
Figure 23 IBM: SWOT Analysis
Figure 24 Oracle: Company Snapshot
Figure 25 Verizon: Company Snapshot
Figure 26 Cisco: Company Snapshot
Figure 27 Cisco: SWOT Analysis
Figure 28 Vodafone: Company Snapshot
Figure 29 Telit: Company Snapshot
Figure 30 Landis+Gyr: Company Snapshot
Figure 31 Landis Gyr: SWOT Analysis
Figure 32 Itron: Company Snapshot
Figure 33 Schneider Electric: Company Snapshot
Figure 34 Huawei: Company Snapshot
Figure 35 Trimble: Company Snapshot
Figure 36 ABB: Company Snapshot
Figure 37 ABB Group: SWOT Analysis
Figure 38 Honeywell: Company Snapshot
Figure 39 Honeywell: SWOT Analysis
Figure 40 Siemens: Company Snapshot
Figure 41 General Electric: Company Snapshot
Figure 42 General Electric: SWOT Analysis

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