The Internet Of Things (IoT) In Energy Global Market Report 2023, provides comprehensive information on the internet of things (IoT) in energy market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
Learn More On The Internet Of Things (IoT) In Energy Market’s Growth:
As per The Business Research Company’s Internet Of Things (IoT) In Energy Global Market Report 2023, the global internet of things (IoT) in energy market size is expected to grow from $21.32 billion in 2022 to $23.89 billion in 2023 at a compound annual growth rate (CAGR) of 12.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global internet of things (IoT) in energy market size is expected to grow to $36.76 billion in 2027 at a CAGR of 11.4%.
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Product innovation is a key trend in the internet of things (IoT) in the energy market. Major companies operating in IoT in the energy market are focused on developing innovative solutions to sustain their market position. For instance, in November 2022, ABB Ltd., a Switzerland-based technology company launched ABB Ability OPTIMAX, an innovative energy-management system to assist lower production costs by giving real-time awareness of energy consumption across processes. Green hydrogen produced through electrolysis, which separates water into hydrogen and oxygen using electricity from renewable sources, is widely regarded as a key energy source for achieving a low-carbon future. ABB’s OPTIMAX helps with this by supporting every stage of a hydrogen plant’s lifespan, from simulation during the design and engineering phases to real-time visualization and monitoring when the plant is in operation. The program detects carbon dioxide emissions and two-way power flows, providing operators with contextual data that they can use to decide on the ideal energy consumption levels needed to sustain plant operations and reduce waste.
The internet of things (IoT) in energy market is segmented:
1) By Component: Solution, Platforms, Services
2) By Technology: Cellular Network, Satellite Network, Radio Network, Other Technologies
3) By Application: Energy Generation, Energy Consumption, Network Security, Email Security, Database And Cloud Security, Other Applications
North America was the largest region in the internet of things (IoT) in energy market in 2022.
The table of contents in TBRC’s internet of things (IoT) in energy market report includes:
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