The IoT In Utilities Market Overview 2025 report reveals that the market size has grown significantly over the past few years, with projections indicating further expansion.
What are the Historical Growth Trends in the IoT In Utilities Market?
The market size for IoT in utilities has seen substantial expansion in recent years. The market, which was worth $52.31 billion in 2024, will increase to $57.91 billion in 2025. This represents a compound annual growth rate (CAGR) of 10.7%.
What are the 2025 Market Projections: Forecasted Size & Growth Rate for the IoT In Utilities Industry?
The IoT in utilities market is projected to expand significantly, reaching a value of $105.03 billion by 2029. This growth is anticipated to occur at a compound annual growth rate (CAGR) of 16.0%.
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What are the Key Growth Drivers Fueling the IoT In Utilities Market?
The key drivers in the iot in utilities market are:
• The provision of customer-centric services
• The implementation of cybersecurity measures
• The development of smart cities and infrastructure
• The advancement in water and waste management solutions
Global Market Segmentation: Identifying Major IoT In Utilities Industry Segments
The IoT in utilities market covered in this report is segmented –
1) By Component: Platform, Solutions, Services, Other Components
2) By Technology: Sensors, RFID, Connectivity Technology
3) By Application: Electricity Grid Management, Gas Management, Water and Waste Management, Other Applications
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What are the Emerging Trends Shaping the Future of the IoT In Utilities Market?
The key trends in the wood plastic composite market are:
• The push towards grid modernization is a key emerging trend.
• Energy efficiency and optimization are increasingly shaping the future of the market.
• The integration of renewable energy sources is greatly influencing the market.
• The market is experiencing a growing trend of asset management, predictive maintenance and smart metering.
Who Are the Top Competitors & Leading Players in the IoT In Utilities Market?
Major companies in the iot in utilities market are:
• International Business Machines Corporation
• Oracle Corporation
• Verizon Communications Inc.
• Cisco Systems Inc.
• Vodafone Group Plc
• Telit Communications PLC
• Landis+Gyr AG
• Itron Inc.
• Schneider Electric SE
• Huawei Technologies Co. Ltd.
• Trimble Inc.
• Asea Brown Boveri Corporation
• Honeywell International Inc.
• Siemens AG
• General Electric
• Aclara Technologies LLC
• Trilliant Networks Inc
• Energyworx
• Hindustan Computers Limited
• Altair Engineering
• Actility S. A
• WAVIoT
• Rayven LLC
• Bosch Software Innovations
• C3.ai Inc.
• Parametric Technology Corporation
• Spectrum
• Samsara Inc.
• Advanced RISC Machines Ltd.
• Sierra Wireless
• SoluLab
• Silver Spring Networks
• Sensus
• Badger Meter Inc.
• Kamstrup A/S
• Elster Group GmbH
Regional Dominance: Which Area Leads the Global IoT In Utilities Market?
North America was the largest region in the IoT in utilities market in 2024
