Internet Of Things (IOT) In Utility Market is predicted to generate revenue of $Posted by Robson Tolson on June 7th, 2017 According to a recently published report, the global Internet Of Things (IOT) In Utility Market has been expected to grow at the CAGR of 19.8 % during the forecasted period 2016-2022 and to generate revenue of 1.31 billion by 2022.The segmentation of global internet of things (IoT) in utility market is software, platform, service, application and geography. The report global internet of things (IoT) in utility market forecast 2016-2022 (software, platform, service, application and geography) provides detailed overview and predictive analysis of the market. In 2015, energy and utility sector is the second largest vertical sector in terms of spending on IoT related products and services. IoT has been the reason of significant changes in the utility industry. There has been rising focus on conservation of energy and water resources, increase energy efficiency, and reduce carbon emission which is driving the adoption of intelligent assets such as smart meters, grids and appliances to cope up with this problem. In 2015, China alone has spent around billion in smart grid. Most of the companies in energy and utility sector face frequent fluctuation in prices, changing regulatory requirements, etc., hence they have a lot to gain from IoT. Around 43% of utility companies have adopted IoT and are collecting data using sensors to enhance the process. Various advantages of implementing IoT in utility are reduced capital expenditure, managing demand more effectively through predictive analytics, increased capacity due to less loss and theft, lower maintenance cost , easily comply with regulations and enhanced customer engagement and so on. Due to all these factors the demand for IoT in utility has been expected to increase tremendously. Full report is available on global internet of things (IOT) in utility market forecast report at http://www.briskinsights.com/report/internet-of-things-iot-in-utility-market Scope of the report
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