Internet of Things (IoT) in Energy Market Size, Share, Growth Analysis
Posted by sohampatil on October 5th, 2020
Global Internet of Things (IoT) in Energy Market was valued at USD 14.06 billion in 2019 which is expected to reach USD 39.11 billion by 2027 at a CAGR 17.4%.
The Internet of Things (IoT) in Energy Market report, at first, has given a brief understanding of the industry through basic overview. This overview includes the market definition, key applications of the product, and the recent manufacturing technology employed for such production. The global Internet of Things (IoT) in Energy market has been analyzed in detail to gain an understanding of the competitive landscape, key regional status, and recent trends noted in the relevant industry.
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Internet of Things (IoT) in the energy industry is cutting cost and creating more productive buildings. The IoT in energy sector offers various solutions in term of Software, Hardware, and Services, integrated and connectivity solutions. In energy industry IoT technology is utilized to develop new products, solve critical problem solving, to enhance productivity and efficiency, improve real- time decision making, and create innovative experiences.
Increase in demand for Internet of Things (IoT) technology in energy industry to enhance productivity and efficiency is expected to boost the global Internet of Things (IoT) in energy market growth. Furthermore, increase in awareness regarding health and safety of employees will propel the global Internet of Things (IoT) in energy market growth. Moreover, growing technological advancements and innovations in energy industry will enhance the demand for IOT technology in the market, owing to this forecast period.
However, lack of data and user privacy is the major restraining factor which is expected to hamper the global internet of things (IoT) market growth. Also, lack of skilled professionals will affect the growth of global internet of things (IoT) market.
Market Key Players
Various key players are discussed in this report such as INFOSYS, TRIMBLE, BOSCH, ROCKWELL AUTOMATION, AGT INTERNATIONAL, INTEL, SIEMENS, CISCO, SAP, ABB, ACTILITY, and IBM.
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