The Internet of Things (IoT) in Energy Market is projected to reach $75.03 Billion by 2032, showing positive growth.

From GlobeNewswire: 2025-03-06 10:00:00

The Internet of Things (IoT) in Energy Market was valued at USD 26.73 Billion in 2023 and is projected to reach USD 75.03 Billion by 2032, with a CAGR of 12.2%. Major players include GridPoint, Aeris Communications, IBM, Siemens, Johnson Controls, AGT International, Cisco Systems, Davra Networks, Intel Corporation, and SAP SE.

The IoT in the energy sector is revolutionizing efficiency and sustainability, reducing energy wastage by 30%, maintenance expenses by 25%, and outage times by 17%. It also enhances solar and wind energy efficiency by 10%, making renewables more feasible and promoting data-driven, cost-efficient energy management.

In 2023, the Solution segment dominated the IoT in the energy market with 82% of revenue, while the Services segment is expected to witness a CAGR of 13.4% over the forecast period. Smart grids were the top revenue-generating application in 2023, while coal mining is projected to see the fastest growth.

Wi-Fi led the IoT energy market in 2023 with a revenue share of 35%, while Z-Wave is poised for rapid growth with a projected CAGR of 13.0% due to its secure, low-power, and long-range connectivity features. North America dominated the IoT in the energy segment in 2023, while Asia Pacific is expected to witness the fastest growth with a predicted CAGR of 13.3% from 2024 to 2032. 5G technology has accelerated the deployment of IoT devices in the energy sector, improving energy management and sustainability. With advancements in AI and cloud computing, IoT-enabled devices collect and analyze energy consumption data efficiently. This has led to significant improvements in energy efficiency and sustainability practices across various industries.



Read more at GlobeNewswire: Internet Of Things (IoT) In Energy Market Size to Surpass