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IoT in Energy Market to Garner $703.52,

  • The Internet of Things (IoT) platform in the energy market is expected to reach $703.52 billion, driven by the adoption of smart grids and innovative services that enhance operational efficiency.
  • IoT and AI adoption in the energy sector are creating significant growth opportunities, especially in the development of smart grids for energy optimization across various buildings.
  • Key market segments include solutions holding the largest share, the oil & gas segment dominating in 2021, services projected to have the highest CAGR, and the cellular network segment expected to show the highest growth rate.
  • The report covers key players such as Accenture PLC, IBM Corporation, and Cisco, with the North America region leading the market share in 2021 and Asia-Pacific expected to exhibit the highest CAGR during the forecast period.

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