DUBLIN, February 23, 2016 /PRNewswire/ --
Research and Markets (http://www.researchandmarkets.com/research/j85f5k/internet_of) has announced the addition of the "Internet of Things (IoT) in Utility Market - Global Forecast to 2020" report to their offering.
The report forecast the Internet of Things (IoT) in utility market size to grow from USD 4.63 Billion in 2015 to USD 11.73 Billion by 2020, at a CAGR of 20.4% during the forecast period.
Globally, deployed smart grid roll outs, emergence of cloud platform, scalability of IPV6 and increasing internet connectivity along with rapid adoption of smart phones and increase in global ICT spending across utility sectors are identified as the potential growth drivers of the IoT in utility market. The market also has the potential growth opportunities for the niche IoT analytics market players, water utility providers, and the associated system integrators for the IoT technology.
The IoT technology solutions have helped the utilities integrate various business processes that pushed the utility industry toward the growth phase in an exponential way. Integrating technologies with the existing operations would increase the operational efficiency even with less infrastructure investment.
The operational control software market is the highest revenue generating software segment. The analytical solutions are expected to grow at a highest CAGR as the increasing trends of mobile, cloud, and smart devices, along with factors such as predictive analytics for business, conducive analytics platforms, and end-to-end automation.
The market in North America is expected to have a steady growth rate by 2020 as most projects funded for investor-owned larger utilities in the U.S. would reach completion by early 2018. But the current market size for the region is estimated to be the highest. While the APAC region is expected to experience extensive growth opportunities in the next few years. The increasing adoption of smart grid architecture, technology upgrades, energy management, regulatory mandates and affluent countries such as South Korea, Singapore, and Hong Kong are the major contributing factors for the growth of IoT solutions in this region.
- Amplía Soluciones S.L.
- C3 Energy
- Cryptosoft Ltd.
- Energyworx Solutions & Services B.V.
- Osisoft, Llc
- People Power Company
- Silvers Spring Networks, Inc.
- Tibbo Technology Inc.
- Trilliant, Inc.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Iot in Utility Market Analysis, By Software
8 Iot in Utility Market Analysis, By Platform
9 Iot in Utility Market Analysis, By Service
10 Iot in Utility Market Analysis, By Application
11 Geographic Analysis
12 Competitive Landscape
13 Key Innovators
For more information visit http://www.researchandmarkets.com/research/j85f5k/internet_of
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SOURCE Research and Markets