SAN FRANCISCO, Aug. 31, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Internet of Things (IoT) in Energy - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 5; Released: April 2021
Executive Pool: 742
Companies: 182 - Players covered include ABB; Aclara; Actility; AGT International; Altair Engineering; Bosch; Cisco; Davra Networks; Flutura; HCL; IBM; Infosys; Intel; Rockwell Automation; SAP; Schneider Electric; Siemens; Smartgas; Trimble; Wind River and Others.
Coverage: All major geographies and key segments
Segments: Component (Platform, Solutions, Services); Application (Oil & Gas, Coal Mining, Smart Grid)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.
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Global Internet of Things (IoT) in Energy Market to Reach $37.2 Billion by 2026
Amid the COVID-19 crisis, the global market for Internet of Things (IoT) in Energy estimated at US$19.7 Billion in the year 2020, is projected to reach a revised size of US$37.2 Billion by 2026, growing at a CAGR of 11% over the analysis period. Platform, one of the segments analyzed in the report, is projected to record a 10.7% CAGR and reach US$14.1 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Solutions segment is readjusted to a revised 11.8% CAGR for the next 7-year period.
The U.S. Market is Estimated at $6.6 Billion in 2021, While China is Forecast to Reach $6.6 Billion by 2026
The Internet of Things (IoT) in Energy market in the U.S. is estimated at US$6.6 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$6.6 Billion by the year 2026 trailing a CAGR of 10.6% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 9.6% and 9.3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 8% CAGR.
Services Segment to Reach US$7.5 Billion by the year 2026
In the global Services segment, USA, Canada, Japan, China and Europe will drive the 9.5% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$3.4 Billion in the year 2020 will reach a projected size of US$6.5 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. More
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Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.
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