Analysis of IoT Utilities Market by 2023
A fresh report has been added to the wide database of
Business Industry Reports. The research study is titled “IoT
Utilities Market” by Manufacturers, Countries, Type and
Application, Forecast to 2023 which provides important data
about the production, consumption, revenue and company
profiles for key industry participants.
Global IoT Utilities Market Synopsis:
In 2018, the global IoT Utilities market size was 4000 million US$ and it is expected to reach 4500 million
US$ by the end of 2023.
If you want to know more about IoT Utilities, Get Sample Copy of Report @
https://www.businessindustryreports.com/sample-request/113096 .
The utility industry continues to face difficulty related to the complexity and high costs associated with
maintaining their assets. Increasing incidents of cyber threats poses significant challenge to the industry
growth. IoT technology is witnessing huge adoption in industries to remote monitoring of assets, pre-
identification of faults and restoring without actually visiting the facility.
When the utility industry adopts IoT, it is creating new opportunities to connect with the consumer, with
the grid, and with the world. Suddenly there is an influx of data streaming into the utility that they can
harness to make decisions. For example, companies can utilize home automation to monitor consumer
use, then adjust access as necessary. They can gather information on how to deliver services, manage
infrastructure, and continue to meet consumer needs.
Global IoT Utilities Market has been segmented on the Basis of Type, Software, Application and Region.
Based on Type, IoT Utilities Market can be divided into Sensor, Rfid, Connectivity Technologies, Others.
In the Software segment, Market further sub segmented into Analytics, Security, Operational Control,
Smart Grid Management, Predictive Asset Management, Customer Information System (CIS) and Utility
Billing. The increasing trends of mobile, cloud, and smart devices along with factors such as predictive
analytics for business, conducive platforms for analytics, and end-to-end automation are significantly
driving the market across the world.
Global IoT Utilities finds application in various sectors such as Electricity Grid Management, Gas
Management, Water and Waste Management.