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Global IoT Energy Management Market to reach USD 226.27 billion by the end of 2030

Global IoT Energy Management Market Size study & Forecast, by Component (Solution/Platform/System, Services), by Application (Smart Cities, Smart Utilities, Industrial IoT), by End User (Commercial, Industrial) and Regional Analysis, 2023-2030

Product Code: EPPGS-70676292
Publish Date: 20-02-2024
Page: 200

Global IoT Energy Management Market is valued at approximately USD 61.02 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 17.8% during the forecast period 2023-2030. IoT Energy Management is an application of Internet of Things (IoT) technologies to optimize the monitoring, control, and efficiency of energy consumption in various systems. This approach leverages interconnected devices, sensors, and actuators to collect real-time data on energy usage, enabling better decision-making and resource allocation. In the context of buildings, industries, and smart grids, IoT Energy Management systems can provide insights into energy patterns, identify areas of inefficiency, and automate adjustments to reduce consumption. The IoT Energy Management Market is expanding because of factors such as a surge in the implementation of smart grids and smart meters, increasing adoption of renewable energy and rising development of smart cities.

The rising development of smart cities is significantly driving the growth of the IoT Energy Management Market by integrating advanced technologies to enhance urban sustainability and efficiency. As cities worldwide grapple with increasing populations and urbanization, the demand for intelligent solutions to manage resources, including energy, becomes imperative. Smart cities leverage IoT Energy Management systems to monitor, analyze, and optimize energy consumption across various sectors, such as transportation, buildings, and utilities. The Organization for Economic Co-operation and Development (OECD) forecasts that global investments in smart city initiatives would reach approximately USD 1.8 trillion by year 2030, covering a diverse range of urban infrastructure projects. Statista reports that technology spending on smart city initiatives worldwide was USD 104.3 billion in 2019, escalating to USD 158 billion in 2022 and reached to USD 189.5 billion in year 2023. Thus, rising spending on the development of smart cities across the world is driving the market growth. In addition, the rising adoption of cloud-based real-time energy management systems for energy consumption and growing awareness of environmental sustainability are creating new opportunities for market growth. However, the high initial cost associated with system installation and post-maintenance services stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global IoT Energy Management Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific dominated the market in 2022. The region stands as the global leader in the SMART METER MARKET, boasting approximately 1.6 billion electricity and gas customers. Moreover, China in the Asia Pacific region has emerged as a key proponent of smart meters, extensively deploying them to enhance energy efficiency. The International Energy Agency (IEA) reports China’s ambitious plan to invest over USD 442 billion between 2021 and 2025 in the modernization and expansion of its power grid infrastructure. Additionally, the Indian government aims to introduce approximately 250 million smart meters nationwide by 2025/2026. To achieve this target, established players wouldbe contracted for the deployment of smart meters in multiple cities. Consequently, the substantial emphasis on implementing IoT energy management systems across various countries in the region is poised to drive market growth. North America is expected to grow at the fastest rate over the forecast period. With the United States and Canada enforcing stringent policies and regulations on energy resource consumption, initiatives have been undertaken. For instance, in 2022, the U.S. secured funding of USD 10.5 billion through the Grid Resilience Innovative Partnership (GRIP) Program, dedicated to upgrading and expanding the U.S. electric grids. Simultaneously, utilities are incorporating IoT technology to enhance grid management and facilitate demand response programs. The U.S. government’s emphasis on energy efficiency and sustainability has acted as a catalyst, driving the widespread adoption of IoT energy management solutions across the nation.

Major market player included in this report are:
GridPoint, Inc.
Information Grid Ltd.
Aeris Communications Inc.
Carrier Global Corporation
WebNMS (Zoho Corporation Pvt. Ltd.)
Pheonix Contact
Coda Cloud Limited
Siemens AG
Johnson Controls International PLC
Recent Developments in the Market:
Ø In August 2023, Siemens introduced a cutting-edge series of line monitoring relays, known as the SIRIUS 3UG5, featuring integrated IoT technology for efficient energy management. These relays play a crucial role in improving grid stability and quality, particularly in vital sectors such as hospitals and industries. They not only provide valuable insights through data analytics and also guarantee optimal performance of components, contributing to enhanced overall operational efficiency.
Ø In August 2023 Zoho Corporation introduced Zoho FSM, a holistic field service management platform designed specifically for businesses in the energy sector. This platform, equipped with automation features and operational transparency, empowers enterprises to effectively manage their field operations. It enables seamless service delivery in industries such as utilities, HVAC, and others, ensuring operational efficiency and exceptional service quality.

Global IoT Energy Management Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Component, Application, End User, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Component offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Component:

By Application:
Smart Cities
Smart Utilities
Industrial IoT

By End User:

By Region:

North America


Asia Pacific
South Korea

Latin America

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. IoT Energy Management Market, by Region, 2020-2030 (USD Billion)
1.2.2. IoT Energy Management Market, by Component, 2020-2030 (USD Billion)
1.2.3. IoT Energy Management Market, by Application, 2020-2030 (USD Billion)
1.2.4. IoT Energy Management Market, by End User, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global IoT Energy Management Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global IoT Energy Management Market Dynamics
3.1. IoT Energy Management Market Impact Analysis (2020-2030)
3.1.1. Market Drivers Implementation of smart grids and smart meters Increasing adoption of renewable energy Rising development of smart cities
3.1.2. Market Challenges High initial cost associated with system installation and post-maintenance services
3.1.3. Market Opportunities Rising adoption of cloud-based real-time energy management system for energy consumption Growing awareness of environmental sustainability
Chapter 4. Global IoT Energy Management Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
Chapter 5. Global IoT Energy Management Market, by Component
5.1. Market Snapshot
5.2. Global IoT Energy Management Market by Component, Performance – Potential Analysis
5.3. Global IoT Energy Management Market Estimates & Forecasts by Component 2020-2030 (USD Billion)
5.4. IoT Energy Management Market, Sub Segment Analysis
5.4.1. Solution/Platform/System
5.4.2. Services
Chapter 6. Global IoT Energy Management Market, by Application
6.1. Market Snapshot
6.2. Global IoT Energy Management Market by Application, Performance – Potential Analysis
6.3. Global IoT Energy Management Market Estimates & Forecasts by Application 2020-2030 (USD Billion)
6.4. IoT Energy Management Market, Sub Segment Analysis
6.4.1. Smart Cities
6.4.2. Smart Utilities
6.4.3. Industrial IoT
Chapter 7. Global IoT Energy Management Market, by End User
7.1. Market Snapshot
7.2. Global IoT Energy Management Market by End User, Performance – Potential Analysis
7.3. Global IoT Energy Management Market Estimates & Forecasts by End User 2020-2030 (USD Billion)
7.4. IoT Energy Management Market, Sub Segment Analysis
7.4.1. Commercial
7.4.2. Industrial
Chapter 8. Global IoT Energy Management Market, Regional Analysis
8.1. Top Leading Countries
8.2. Top Emerging Countries
8.3. IoT Energy Management Market, Regional Market Snapshot
8.4. North America IoT Energy Management Market
8.4.1. U.S. IoT Energy Management Market Component breakdown estimates & forecasts, 2020-2030 Application breakdown estimates & forecasts, 2020-2030 End User breakdown estimates & forecasts, 2020-2030
8.4.2. Canada IoT Energy Management Market
8.5. Europe IoT Energy Management Market Snapshot
8.5.1. U.K. IoT Energy Management Market
8.5.2. Germany IoT Energy Management Market
8.5.3. France IoT Energy Management Market
8.5.4. Spain IoT Energy Management Market
8.5.5. Italy IoT Energy Management Market
8.5.6. Rest of Europe IoT Energy Management Market
8.6. Asia-Pacific IoT Energy Management Market Snapshot
8.6.1. China IoT Energy Management Market
8.6.2. India IoT Energy Management Market
8.6.3. Japan IoT Energy Management Market
8.6.4. Australia IoT Energy Management Market
8.6.5. South Korea IoT Energy Management Market
8.6.6. Rest of Asia Pacific IoT Energy Management Market
8.7. Latin America IoT Energy Management Market Snapshot
8.7.1. Brazil IoT Energy Management Market
8.7.2. Mexico IoT Energy Management Market
8.8. Middle East & Africa IoT Energy Management Market
8.8.1. Saudi Arabia IoT Energy Management Market
8.8.2. South Africa IoT Energy Management Market
8.8.3. Rest of Middle East & Africa IoT Energy Management Market

Chapter 9. Competitive Intelligence
9.1. Key Company SWOT Analysis
9.1.1. Company 1
9.1.2. Company 2
9.1.3. Company 3
9.2. Top Market Strategies
9.3. Company Profiles
9.3.1. GridPoint, Inc. Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
9.3.2. IoT.nxt
9.3.3. Information Grid Ltd.
9.3.4. Aeris Communications Inc.
9.3.5. Carrier Global Corporation
9.3.6. WebNMS (Zoho Corporation Pvt. Ltd.)
9.3.7. Pheonix Contact
9.3.8. Coda Cloud Limited
9.3.9. Siemens AG
9.3.10. Johnson Controls International PLC
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
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Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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