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Global IoT in energy sector market accounted for USD 7.3 billion in 2016 – Planet Market Reports
Global IoT in Energy Sector Market Outlook
Market Overview
Companies in energy sector facing various challenges regarding the skilled labors, increasing operational costs, environmental regulatory and skilled workforce. To reduce the challenges and to improve efficiency of energy sector companies started to implement internet of things IOT to change the way we consume, generate, transmit and distribute energy for the connected-era.
IoT technology is also useful to monitor remote workers to cop up with the increasing safety concerns. Growing demand for energy and power in the fast developing countries due to growing urbanization and rapid pace infrastructural development significantly fueled the need for IOT to provide efficient services and use of resources more efficiently.
Market Segmentation
By Components
Software
Hardware
By Applications
Predictive Maintenance
Security
Connected Logistic
Compliance and Risk Management
Energy Analytics
Intelligent Energy Management
Mobile Workforce Management
Field Surveillance and Monitoring
By End Users
Oil & Gas Sector
Mining Sector
Power Sector
By Geography
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North America US, Canada {Market Share % , Market Size USD Billion }
Europe UK, France, Italy, Germany, Spain, Hungary, Sweden, Russia, Poland and Rest of Europe {Market Share % , Market Size USD Billion }
Middle East and Africa GCC Countries, North Africa, South Africa and Rest of Middle East & Africa {Market Share % , Market Size USD Billion }
Latin America Brazil, Mexico and Rest of Latin America {Market Share % , Market Size USD Billion }
Asia Pacific China, Japan, India, Singapore, South Korea, Australia, New Zealand and Rest of Asia-Pacific {Market Share % , Market Size USD Billion }
Rest of the World{Market Share % , Market Size USD Billion }
Growth Drivers and Challenges
Global IoT in energy sector market accounted for USD 7.3 billion in 2016 which is expected to expand at a compound annual growth rate of 17.8% over the forecast period i.e. 2016-2024. Further, the market is anticipated to surpass USD 23.0 billion by the end of 2024 owing the rising need for sustainable extraction of natural resources and production of energy.
Geographically, Asia Pacific accounted for the highest revenue share in global IoT in energy sector market in 2016 with China dominating the region with more than 16% market share in global IoT in energy sector closely followed by Japan with 6% market share. Asia Pacific region is closely followed by the North America with more than 22% revenue share in global IoT in energy sector market. Europe IoT market in energy sector is at relatively embryonic stage and expected to accelerate as Europe investment in IoT increases. Currently, the U.K market has captured only 2% of the global IoT in energy sector market share.
Key Market Players
Intel corporation
Synopsis
Business Strategy
Product Portfolio
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Global IoT in energy sector market is segmented as follows:
By Component Type Market Size, Demand Analysis and Growth Analysis
By Application Type Market Size, Demand Analysis and Growth Analysis
By End Users Type Market Size, Demand Analysis and Growth Analysis
Global IoT in energy sector Market Report covered insights of below mentioned regions:
North America U.S., Canada {Market Size, Growth Analysis}
Latin America Argentina, Mexico, Brazil and Rest of Latin America {Market Size, Growth Analysis}
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Market Dynamics: Growth Drivers, Restraints and Opportunities
Risk Factors
Regional Variations
Recent Trends and Developments
Key Market Players
Synopsis
Market Landscape: Competition and Beyond
Market outlook for business players and entry level players to ascertain their business in dynamic ecosystem
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