Emerging Trends to Reshape the Global IoT In Utilities Market: Revolutionizing IoT In Utility By Integrating New Technologies For Enhanced Efficiency as a Key Influencer

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IoT In Utilities Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The market size for IoT in utilities has seen robust growth in recent times. There's a predicted escalation from $52.31 billion in 2024 to $57.18 billion in 2025, at a compound annual growth rate (CAGR) of 9.3%. The historic period's growth is credited to early adopters and pilot projects, legal frameworks, the need for energy conservation and demand response, predictive upkeep, and the rollout of smart meters.

IoT In Utilities Market Size Forecast: What's the Projected Valuation by 2029?
Over the next few years, the market size for IoT in utilities is anticipated to witness swift expansion. It is projected to reach a value of $99.86 billion by 2029, manifesting a compound annual growth rate (CAGR) of 15.0%. This growth during the forecast period can be credited to the emergence of customer-oriented services, initiatives towards cybersecurity, developments in smart cities and infrastructure, and solutions for water and waste management. The forecast period is also likely to see significant trends in areas such as grid modernization, energy efficiency, optimization, integration of renewable energy, asset management, predictive maintenance, as well as smart metering and billing.

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What Are the Drivers Transforming the IoT In Utilities Market?
The upsurge in the need for digitization is anticipated to fuel the expansion of the IoT in the utility market. This process uses digital tools within the IoT in the utility market to effectively supervise and enhance physical infrastructure, thereby improving workforce safety, efficiency, and customer interaction. Furthermore, digitization advances the integration of distributed systems with superior grid digital technology. As reported by Trade Arabia, an Abu Dhabi-based news source, digitization technology implementation in the utility sector witnessed a surge in April 2022, rationalized by a fall in operating expenditures of up to 25% and performance improvements of 20% to 40% in areas like safety, reliability, customer satisfaction, and regulatory compliance. Thus, escalating demand for digitization is propelling the growth of the IoT in the utility market.

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What Long-Term Trends Will Define the Future of the IoT In Utilities Market?
The adoption and integration of innovative technologies is a noteworthy trend observed in the IoT in utility market. Numerous predominant companies in the industry are strategically incorporating advanced technologies to establish a competitive edge. Case in point, DEWA, a utility company based in Dubai, reported in March 2022 that they launched a 6U nanosatellite equipped with high-resolution image sensing technology tailored specifically for interaction with their IoT terminals. This technology is intended predominantly for use in energy and water networks, pinpointing thermal fingerprints in areas such as high-voltage transmission lines, substations, residences, and solar power facilities.

Which Segments in the IoT In Utilities Market Offer the Most Profit Potential?
The iot in utilitiesmarket covered in this report is segmented -

1) By Component: Platform, Solutions, Services, Other Components
2) By Technology: Sensors, RFID, Connectivity Technology
3) By Application: Electricity Grid Management, Gas Management, Water and Waste Management, Other Applications

Subsegments:
1) By Platform: Cloud Platforms, Edge Computing Platforms
2) By Solutions: Smart Metering, Asset Management, Grid Management, Water Management, Energy Management
3) By Services: Consulting Services, Integration Services, Maintenance And Support Services
4) By Other Components: Devices And Sensors, Network Infrastructure, Data Management Tools

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Which Firms Dominate the IoT In Utilities Market by Market Share and Revenue in 2025?
Major companies operating in the IoT in utilities market include International Business Machines Corporation, Oracle Corporation, Verizon Communications Inc., Cisco Systems Inc., Vodafone Group Plc, Telit Communications PLC, Landis+Gyr AG, Itron Inc., Schneider Electric SE, Huawei Technologies Co. Ltd., Trimble Inc., Asea Brown Boveri Corporation, Honeywell International Inc., Siemens AG, General Electric, Aclara Technologies LLC, Trilliant Networks Inc, Energyworx, Hindustan Computers Limited, Altair Engineering, Actility S. A, WAVIoT, Rayven LLC, Bosch Software Innovations, C3. ai Inc., Parametric Technology Corporation, Spectrum, Samsara Inc., Advanced RISC Machines Ltd., Sierra Wireless, SoluLab, Silver Spring Networks, Sensus, Badger Meter Inc., Kamstrup A/S, Elster Group GmbH

Which Regions Offer the Highest Growth Potential in the IoT In Utilities Market?
North America was the largest region in the IoT in utilities market in 2024.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the IoT in utilities market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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