The Internet of Things (IoT) has acted as the backbone of digital transformation within the energy sector. Connected devices drive more sophisticated uses of technologies, namely artificial intelligence (AI), for data collection and the automation of processes. IoT can create a tech ecosystem that addresses many challenges within the sector such as balancing supply with demand, workplace safety, integrating renewable energy into the grid, and fluctuating energy prices.
The energy sector has already reaped benefits from early consumer oriented IoT applications such as smart meters and smart thermostats. Incorporating IoT technology is also made easier by the declining costs of IoT hardware, notably sensors. According to market forecasts, global IoT revenue in the energy sector will reach $64.8 billion by 2027, up from $27.8 billion in 2022.
The energy sector has already reaped benefits from early consumer oriented IoT applications such as smart meters and smart thermostats. Incorporating IoT technology is also made easier by the declining costs of IoT hardware, notably sensors. According to market forecasts, global IoT revenue in the energy sector will reach $64.8 billion by 2027, up from $27.8 billion in 2022.
Scope
- This report shows how the internet of things is impacting energy operations globally
Reasons to Buy
- This report will help you to understand IoT and its potential impact on the energy sector.
- Benchmark your company against your competitors, by comparing how prepared companies in the energy sector are for IoT disruption.
- Identify and differentiate between the leading IoT vendors and formulate an adoption plan for your company.
- Position yourself for future success by investing in the right AI technologies. Cut through the noise with the analyst's priority ratings for each IoT technology for each segment of the sector (upstream, midstream, downstream, equipment manufacture and services, engineering, procurement, construction, generation, transmission and distribution, and end-user).
- Develop relevant and credible sales and marketing messages for energy companies by understanding key sector challenges and where IoT use cases are most useful.
- Identify attractive investment targets by understanding which companies are most advanced in the themes that will determine future success in the energy sector.
Table of Contents
- Value chain
- Energy challenges
- Impact assessment
- Case studies
- Data analysis
- Companies
- Sector scorecard
- Glossary
- Further reading
- Thematic methodology
- Challenges
- Mergers and Aquisitions
- Leading Adopters
- Specialist vendors
- Scorecards
- Glossary
- Further reading
- KeyKey players in IoT
- IoT has already become a widely adopted technology
- Thematic investment matrix
- PTC and Engie develop digital twinning simulations using IoT technologies
- A digital twin of unmanned offshore operations
- EDF’s IoT technologies
- The ICOS vision for home energy management
- Global IoT revenue in the energy sector will grow at a CAGR of 18.4% between 2022 and 2027
- The IoT market is well-distributed globally
- IoT has been adopted in the energy sector for predictive analysis
- In H1 2022, IoT-related patent activity in the energy sector peaked at 4,445
- Industry uptake of IoT has not been uniform globally
- There has been an increasing trend in the number of IoT mentions in industry filings
- IoT hiring in the energy sector peaked in Q3 2022
- The IoT value chain
- The IoT value chain: Physical layer: leaders and challengers
- The IoT value chain: Connectivity layer: leaders and challengers
- The IoT value chain: Data layer: leaders and challengers
- The IoT value chain: App layer: leaders and challengers
- The IoT value chain: Services layer: leaders and challengers players in IoT
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- ABB
- Alibaba
- Alphabet
- Amazon
- AMD
- Apple
- AutoGrid
- Baidu
- Bidgely
- BP
- C3.ai
- Cambricon
- Chevron
- Drift Marketplace
- Ecopetrol
- EDF
- Enel
- Fluence
- Hyundai
- Iberdrola
- IBM
- iFlytek
- Intel
- JERA
- Meta
- Microsoft
- Nesh
- Nvidia
- Orsted
- Petrobras
- Reliance Industries
- Repsol
- Rockwell
- Rosneft
- Saudi Aramco
- Shell
- Southern Company
- SparkCognition
- Stem
- Tencent
- Tesla
- Uplight
- XenonStack.
