Global IoT Solutions For Energy Industry Market Overview:
The Internet of Things (IoT), known as, things that are installed with sensors, programming, and different innovations that are utilized to interface and trading information with different gadgets and frameworks over the Internet. IoT solutions in the energy industry can be utilized to monitor various framework measurements, including its general wellbeing, execution, and productivity, and subsequently, improve on its upkeep. Be it a breeze turbine or other basic gear, it very well may be difficult to recognize an issue before the framework goes down. Furthermore, checking for issues physically is an incredibly inefficient and difficult interaction. IoT sensors to screen the yield and usefulness of its gear. By utilizing information from the sensors, it executes prescient upkeep models dependent on its Predix platform.
- IoT can help in preventing energy losses through automation of industrial processes
- IoT solutions help in reducing the loss of energy production or minimizing the probabilities of blackout
- High cost of IoT solutions for the energy industry
- Lack of skilled professionals
- Large-scale use of IoT solutions in the oil & gas industry by the countries upstream activities of the oil & gas sector
- Increase in research and development and give new technology advancement
- High maintenance cost of the IoT solutions for the energy industry
- Reducing the security and connectivity problems
The leading players in the market are now more focused on setting up effective joint ventures, acquisitions, and/or collaborations in order to expand their respective consumer bases. By doing so, they stand to boost their given target bases by being able to cater to them on both a global as well as domestic level.
Some of the key players profiled in the report are SAP SE (Germany), Tego Inc. (United States), Maven Systems Pvt. Ltd. (India), Carriots (Spain), Davra Networks (United States), AGT International (Germany), Cisco (United States), Telit (United Kingdom), Hortonworks Inc. (United States), Symboticware Inc. (Canada) and Accenture (Ireland). Analyst at AMA Research see United States Players to retain maximum share of Global IoT Solutions For Energy Industry market by 2026. Considering Market by By System, the sub-segment i.e. Predictive Maintenance will boost the IoT Solutions For Energy Industry market. Considering Market by By Service, the sub-segment i.e. Professional Service will boost the IoT Solutions For Energy Industry market. Considering Market by By Technology, the sub-segment i.e. Radio will boost the IoT Solutions For Energy Industry market.
On 28 July 2020, SAP SE and E.ON SE announced a new partnership to build a platform based on the SAP S/4HANA utility solution. The platform will make processes for billing and exchanging information with energy market participants fit for the future. This allows E.ON Group's energy suppliers, grid operators, and metering point operators will be able to share information faster, more accurately, and more easily.
What Can be Explored with the IoT Solutions For Energy Industry Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global IoT Solutions For Energy Industry Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in IoT Solutions For Energy Industry
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
The top-down and bottom-up approaches are used to estimate and validate the size of the Global IoT Solutions For Energy Industry market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in IoT Solutions For Energy Industry market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Industrial Associations, Government Regulatory Bodies, Technology Suppliers, Technology Research Institutions and Energy Supplier.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.
Frequently Asked Questions (FAQ):1. What is the growth rate predicted for the Global IoT Solutions For Energy Industry Market?
The IoT Solutions For Energy Industry market is expected to see a CAGR of % during projected year 2020 to 2026.
2. Who are the top performing companies in IoT Solutions For Energy Industry Market?
Top performing companies in the Global IoT Solutions For Energy Industry market are SAP SE (Germany), Tego Inc. (United States), Maven Systems Pvt. Ltd. (India), Carriots (Spain), Davra Networks (United States), AGT International (Germany), Cisco (United States), Telit (United Kingdom), Hortonworks Inc. (United States), Symboticware Inc. (Canada) and Accenture (Ireland), to name a few.
3. What trending factors would impact IoT Solutions For Energy Industry Market growth most?
"The growing use of IoT solutions in the power sector for improving the energy efficiency
" is seen as one of major influencing trends for IoT Solutions For Energy Industry Market during projected period 2020-2026.