DUBLIN, Nov. 27, 2015 /PRNewswire/ -- Research and Markets (http://www.researchandmarkets.com/research/7b5lf7/internet_of) has announced the addition of the "Internet of Things (IoT) in Energy Market by Systems & Solutions, Application, Services & Regions - Global Forecast to 2020" report to their offering.
Currently, the energy industry is struggling with several adverse global IoT Energy market trends such as fluctuating commodity prices, slowing down of global economy, lack of skilled labors, lack of research and development channels, rising cost, lack of continuous asset monitoring, and rising maintenance issues, and regulatory pressures.
Hence, energy companies are shifting their focus towards the implementation of cutting-edge technology, increasing productivity, supply chain management, improving reliability, gaining new operational insights from diverse set of data, and optimization of the cash-flow; without losing the long-term outlooks.
The implementation of the IoT technology offers overall plant automation, process optimization, supply chain optimization, increased safety, and integrated business processes. With the adoption of the IoT technologies, organizations may experience exponential growth across all business networks to economically source the supplies and services, by minimizing the inventory cost and improving productivity. According to the research findings, wide adoption of the IoT technology across the industry could eventually increase the global GDP approximately to 0.8% by the next decade.
The IoT-based solutions have eventually reinforced the competitive benefit and have also uncovered new business prospects. Improvised supply chain, enhanced asset monitoring and maintenance, and potential return on IoT investment are some of the benefits that have already started impacted the global energy industry. However, prior to implementation, organizations should eventually identify the primary business objectives and technology need and then implement the IoT technology to derive best values and profitability out of it.
The IOT Energy Market report has been segmented on the basis of systems and solutions, network technologies, services, and regions. The IoT in energy research report outlines the key trends and market sizing, and forecasting of the emerging IoT technologies for oil and gas, and mining sector. The report also emphasizes on key global adoption trends, future growth potential submarkets, key drivers, competitive outlook, restraints, opportunities, challenges, and IoT value chain.
Some of the potential and emerging technologies include predictive maintenance, IoT middleware and platforms, energy analytics, and satellite-based communication network.
The global IOT Energy Market is expected to grow from USD 7.59 Billion in 2015 to USD 22.34 Billion by 2020, at a Compound Annual Growth Rate (CAGR) of 24.1% during the forecast period.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insight
5 Market Overview
6 Industry Trends
7 IoT in Energy Market Analysis, By System and Solution
8 IoT in Energy Market Analysis, By Network Technology
9 IoT in Energy Market Analysis, By Service
10 IoT in Energy Market Analysis, By Application
11 Geographic Analysis
12 Competitive Landscape
13 Key Innovator Profiles:
For more information visit http://www.researchandmarkets.com/research/7b5lf7/internet_of
Media Contact:
Laura Wood, +353-1-481-1716, [email protected]
SOURCE Research and Markets
Share this article