Global Internet of Things (IoT) in Energy Sector Market (2016-2023) - Research Nester
Global Internet of Things (IoT) in Energy Sector Market Analysis(2016-2023)
Global Internet of Things (IoT) in Energy Sector Market Analysis(2016-2023)
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<strong>Global</strong> <strong>Internet</strong> <strong>of</strong> <strong>Th<strong>in</strong>gs</strong> (<strong>IoT</strong>) <strong>in</strong> <strong>Energy</strong><br />
<strong>Sector</strong> <strong>Market</strong> Outlook: Industry Insights &<br />
Opportunity Evaluation, <strong>2016</strong>-<strong>2023</strong><br />
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<strong>Global</strong> <strong>Internet</strong> <strong>of</strong> <strong>Th<strong>in</strong>gs</strong> (<strong>IoT</strong>) <strong>in</strong> <strong>Energy</strong><br />
<strong>Sector</strong> <strong>Market</strong> F<strong>in</strong>al Deliverable Table <strong>of</strong><br />
Content<br />
<strong>Global</strong> <strong>Internet</strong> <strong>of</strong> <strong>Th<strong>in</strong>gs</strong> (<strong>IoT</strong>) <strong>in</strong> <strong>Energy</strong> <strong>Market</strong> Overview<br />
Rapid growth <strong>of</strong> urbanization across the globe is chang<strong>in</strong>g the way <strong>of</strong><br />
us<strong>in</strong>g devices and th<strong>in</strong>gs present <strong>in</strong> the technological environment.<br />
<strong>Internet</strong> <strong>of</strong> <strong>Th<strong>in</strong>gs</strong> (<strong>IoT</strong>) <strong>in</strong> energy sector <strong>in</strong>cludes the devices<br />
and s<strong>of</strong>tware which have connectivity feature with <strong>in</strong>ternet. The<br />
devices are embedded with sensors, chips, and others to enhance the<br />
user’s experience and to <strong>in</strong>crease the operational efficiency <strong>of</strong> the<br />
operations <strong>in</strong> energy sector. These devices and s<strong>of</strong>tware are efficient to<br />
operate various tasks with less time consum<strong>in</strong>g methods. The grow<strong>in</strong>g<br />
need <strong>of</strong> <strong>in</strong>ternet enabled devices and ris<strong>in</strong>g need <strong>of</strong> <strong>in</strong>ternet<br />
connectivity are some <strong>of</strong> the major factors which are anticipated the<br />
positive growth <strong>of</strong> <strong>in</strong>ternet <strong>of</strong> th<strong>in</strong>gs <strong>in</strong> energy sector globally.<br />
Technological advancements <strong>in</strong> semiconductors <strong>of</strong>fer the advantages<br />
to develop lightweight and efficient devices which are much smarter<br />
than the conventional and heavy devices. <strong>Internet</strong> <strong>of</strong> th<strong>in</strong>gs (<strong>IoT</strong>) <strong>in</strong><br />
energy helps the sector to reduce the loss <strong>of</strong> resources and also help<br />
them to optimize the use <strong>of</strong> available resources through smart grids.<br />
Moreover, ris<strong>in</strong>g need <strong>of</strong> remote monitor<strong>in</strong>g systems and <strong>in</strong>ternet<br />
enabled devices had supported importance <strong>of</strong> <strong>in</strong>ternet <strong>of</strong> th<strong>in</strong>gs (<strong>IoT</strong>)<br />
<strong>in</strong> energy sector especially <strong>in</strong> utility and power distribution. These<br />
devices and systems enabled to operate efficiently and serve better to<br />
consumers. Likewise, the energy management provides ease to various<br />
end-use <strong>in</strong>dustries such as Power, Oil & gas and m<strong>in</strong><strong>in</strong>g <strong>in</strong>dustries to<br />
m<strong>in</strong>imize the energy losses which further cuts down the operational<br />
cost. Wide-scale availability and diversity <strong>in</strong> technological devices are<br />
provid<strong>in</strong>g ease to the energy sector to adopt latest technology. On the<br />
other hand, m<strong>in</strong><strong>in</strong>g and petroleum <strong>in</strong>dustries are also look<strong>in</strong>g<br />
forwards to real-time monitor<strong>in</strong>g systems to manage the mobile<br />
workforce. The grow<strong>in</strong>g concern towards energy management is one <strong>of</strong><br />
the major factors which are fuell<strong>in</strong>g the demand for <strong>in</strong>ternet <strong>of</strong> th<strong>in</strong>gs<br />
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(<strong>IoT</strong>) devices and s<strong>of</strong>tware. The connected devices help the users to<br />
ma<strong>in</strong>ta<strong>in</strong> their lead time and <strong>in</strong>crease their operational efficiency. The<br />
demand for power and fuel is grow<strong>in</strong>g <strong>in</strong> develop<strong>in</strong>g countries across<br />
the globe due to rapid pace <strong>in</strong>frastructural development. These factors<br />
are creat<strong>in</strong>g a huge pressure on the energy sector to <strong>in</strong>crease the<br />
supply by utiliz<strong>in</strong>g their resources efficiently.<br />
Further, rapid pace development <strong>in</strong> energy sector <strong>in</strong>clud<strong>in</strong>g the power<br />
and oil & gas sector is chang<strong>in</strong>g the ecosystem <strong>of</strong> these sectors.<br />
Urbanization across the globe is <strong>in</strong>creas<strong>in</strong>g the demand for resources<br />
such as fuel, power and others. In addition to this, the robust pace ion<br />
smart cities and smart <strong>in</strong>frastructure <strong>in</strong> various developed countries<br />
such as U.S. and others are encourag<strong>in</strong>g the energy sector to adopt<br />
advanced technology such as <strong>in</strong>ternet <strong>of</strong> th<strong>in</strong>gs (<strong>IoT</strong>). Moreover, the<br />
smart power grids are showcas<strong>in</strong>g a tremendous growth on the back <strong>of</strong><br />
rapid adoption <strong>of</strong> <strong>IoT</strong> <strong>in</strong> energy. The construction <strong>of</strong> smart power grids<br />
with hundreds <strong>of</strong> sensors and devices further help the energy sector to<br />
<strong>in</strong>crease the response and supply. Privatization and newer regulations<br />
is expected to <strong>in</strong>crease the penetration <strong>of</strong> <strong>in</strong>ternet <strong>of</strong> th<strong>in</strong>gs <strong>in</strong> energy<br />
sector. Government authorities are tak<strong>in</strong>g <strong>in</strong>itiatives <strong>in</strong> develop<strong>in</strong>g<br />
regions such as Asia-Pacific, Europe and others to strengthen the<br />
energy sector by adopt<strong>in</strong>g <strong>in</strong>ternet <strong>of</strong> th<strong>in</strong>gs (<strong>IoT</strong>) <strong>in</strong> energy sector. The<br />
sett<strong>in</strong>g up <strong>of</strong> smart cities along with grow<strong>in</strong>g concern towards<br />
optimization <strong>of</strong> resources is bolster<strong>in</strong>g the growth <strong>of</strong> <strong>IoT</strong> <strong>in</strong> energy.<br />
However, issues related to security and privacy <strong>of</strong> data and<br />
connectivity <strong>of</strong> devices is the major restra<strong>in</strong>t for the market which is<br />
creat<strong>in</strong>g cynicism among the end-use sector.<br />
Furthermore, high cost <strong>of</strong> <strong>in</strong>ternet <strong>of</strong> th<strong>in</strong>gs devices and s<strong>of</strong>tware is<br />
one <strong>of</strong> the major reasons which are hamper<strong>in</strong>g the growth <strong>of</strong> <strong>IoT</strong> <strong>in</strong><br />
energy sector. The global <strong>in</strong>ternet <strong>of</strong> th<strong>in</strong>gs (<strong>IoT</strong>) <strong>in</strong> energy<br />
market reached USD 6.8 Billion <strong>in</strong> 2015 and the market is expected<br />
to reach USD 26.5 Billion by <strong>2023</strong>. Further, the market is projected to<br />
register a CAGR <strong>of</strong> 15.5% dur<strong>in</strong>g the forecast period <strong>2016</strong>-<strong>2023</strong><br />
globally. The <strong>in</strong>ternet <strong>of</strong> th<strong>in</strong>gs comprises devices and s<strong>of</strong>tware that<br />
enable connectivity and exchange <strong>of</strong> <strong>in</strong>formation.<br />
<strong>Market</strong> Segmentation<br />
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Our <strong>in</strong>-depth analysis segmented the <strong>Global</strong> <strong>Internet</strong> <strong>of</strong> <strong>Th<strong>in</strong>gs</strong> (<strong>IoT</strong>)<br />
<strong>in</strong> <strong>Energy</strong> market <strong>in</strong> the follow<strong>in</strong>g segments:<br />
<strong>IoT</strong> Hardware (Devices, Routers, Sensors, Actuators) <strong>in</strong> <strong>Energy</strong> <strong>Sector</strong><br />
<strong>IoT</strong> S<strong>of</strong>tware <strong>in</strong> <strong>Energy</strong> <strong>Sector</strong><br />
<strong>IoT</strong> Platforms <strong>in</strong> <strong>Energy</strong> <strong>Sector</strong><br />
<strong>IoT</strong> Real-Time Stream<strong>in</strong>g Analytics <strong>in</strong> <strong>Energy</strong> <strong>Sector</strong><br />
<strong>IoT</strong> Security S<strong>of</strong>tware <strong>in</strong> <strong>Energy</strong> <strong>Sector</strong><br />
<strong>IoT</strong> Data Management S<strong>of</strong>tware <strong>in</strong> <strong>Energy</strong> <strong>Sector</strong><br />
<strong>IoT</strong> Remote Monitor<strong>in</strong>g S<strong>of</strong>tware <strong>in</strong> <strong>Energy</strong> <strong>Sector</strong><br />
<strong>IoT</strong> <strong>Energy</strong> Analytics S<strong>of</strong>tware <strong>in</strong> <strong>Energy</strong> <strong>Sector</strong><br />
By <strong>IoT</strong> Application <strong>in</strong> <strong>Energy</strong> <strong>Sector</strong><br />
<strong>IoT</strong> <strong>in</strong> <strong>Energy</strong> <strong>Sector</strong> for <strong>Energy</strong> Management<br />
<strong>IoT</strong> <strong>in</strong> <strong>Energy</strong> <strong>Sector</strong> for Mobile Workforce Management<br />
<strong>IoT</strong> <strong>in</strong> <strong>Energy</strong> <strong>Sector</strong> for Field Surveillance<br />
<strong>IoT</strong> <strong>in</strong> <strong>Energy</strong> <strong>Sector</strong> for Monitor<strong>in</strong>g <strong>of</strong> Equipment<br />
<strong>IoT</strong> <strong>in</strong> <strong>Energy</strong> <strong>Sector</strong> for Power Distribution<br />
<strong>IoT</strong> <strong>in</strong> End-Use Industry <strong>in</strong> <strong>Energy</strong> <strong>Sector</strong><br />
<strong>IoT</strong> <strong>in</strong> Power <strong>Sector</strong><br />
<strong>IoT</strong> <strong>in</strong> Oil & Gas <strong>Sector</strong><br />
<strong>IoT</strong> <strong>in</strong> Fuel <strong>Sector</strong> (Coal, Petroleum)<br />
By Region<br />
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<strong>Global</strong> <strong>Internet</strong> <strong>of</strong> <strong>Th<strong>in</strong>gs</strong> (<strong>IoT</strong>) <strong>in</strong> <strong>Energy</strong> <strong>Market</strong> is further classified<br />
on the basis <strong>of</strong> region as follows:<br />
North America (United States /U.S. & Canada)<br />
Lat<strong>in</strong> America (Brazil, Mexico, Rest <strong>of</strong> Lat<strong>in</strong> America)<br />
Western and Eastern Europe (U.K., Germany, France, Italy, Spa<strong>in</strong>,<br />
Hungary, Belgium, Netherlands & Luxembourg, Rest <strong>of</strong> Western<br />
Europe)<br />
Asia-Pacific (Ch<strong>in</strong>a, India, Japan, S<strong>in</strong>gapore, Australia, New Zealand,<br />
Rest <strong>of</strong> Asia)<br />
Middle East and North Africa (MENA)<br />
Rest <strong>of</strong> World<br />
Key Players<br />
The key players <strong>of</strong> <strong>Global</strong> <strong>Internet</strong> <strong>of</strong> <strong>Th<strong>in</strong>gs</strong> (<strong>IoT</strong>) <strong>in</strong> <strong>Energy</strong> market as<br />
follows:<br />
Intel Corporation<br />
Company Overview<br />
Key Product Offer<strong>in</strong>gs<br />
Bus<strong>in</strong>ess Strategy<br />
SWOT Analysis<br />
F<strong>in</strong>ancials<br />
Alcatel-Lucent<br />
Accenture PLC<br />
Cisco Systems Inc.<br />
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Google Inc.<br />
Hewlett-Packard<br />
IBM<br />
Scope and Context<br />
Overview <strong>of</strong> the Parent <strong>Market</strong><br />
Analyst View<br />
Segmentation<br />
The <strong>Global</strong> <strong>Internet</strong> <strong>of</strong> <strong>Th<strong>in</strong>gs</strong> (<strong>IoT</strong>) <strong>in</strong> <strong>Energy</strong> <strong>Market</strong> is segmented as<br />
follows:<br />
By Components type <strong>Market</strong> Size and Y-O-Y Growth Analysis<br />
By S<strong>of</strong>tware type <strong>Market</strong> Size and Y-O-Y Growth Analysis<br />
By Application type <strong>Market</strong> Size and Y-O-Y Growth Analysis<br />
By Regions<br />
North America (U.S., Canada) <strong>Market</strong> Size and Y-O-Y Growth Analysis<br />
Lat<strong>in</strong> America (Mexico, Brazil, Rest <strong>of</strong> Lat<strong>in</strong> America) <strong>Market</strong> Size and<br />
Y-O-Y Growth Analysis<br />
Western and Eastern Europe (Germany, Italy, Spa<strong>in</strong>, France, U.K,<br />
Benelux, Hungary, Rest Of Western Europe, Russia Poland, Rest <strong>of</strong><br />
Eastern Europe) <strong>Market</strong> Size and Y-O-Y Growth Analysis<br />
Asia-Pacific (Ch<strong>in</strong>a, India, S<strong>in</strong>gapore, Japan, Australia and New<br />
Zealand and Rest <strong>of</strong> Asia) <strong>Market</strong> Size and Y-O-Y Growth Analysis<br />
Middle East and North Africa (MENA) <strong>Market</strong> Size and Y-O-Y Growth<br />
Analysis<br />
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Rest <strong>of</strong> World <strong>Market</strong> Size and Y-O-Y Growth Analysis<br />
<strong>Market</strong> Dynamics<br />
Supply and Demand Risk<br />
Competitive Landscape<br />
Porter’s Five Force Model<br />
Geographical Economic Activity<br />
Key Players (respective SWOT Analysis) and their Strategies and<br />
Product Portfolio<br />
Recent Trends and Developments<br />
Industry Growth Drivers and Challenges<br />
Key Information for Players to establish themselves <strong>in</strong> current<br />
dynamic environment<br />
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