Internet of Things (IoT) in Energy - Thematic Intelligence

Internet of Things (IoT) in Energy - Thematic Intelligence
Summary

The Internet of Things (IoT) has acted as the backbone of digital transformation within the energy sector. Connected devices drive more sophisticated uses of technologies, namely artificial intelligence (AI), for data collection and the automation of processes. IoT can create a tech ecosystem that addresses many challenges within the sector such as balancing supply with demand, workplace safety, integrating renewable energy into the grid, and fluctuating energy prices.

The energy sector has already reaped benefits from early consumer oriented IoT applications such as smart meters and smart thermostats. Incorporating IoT technology is also made easier by the declining costs of IoT hardware, notably sensors. According to GlobalData market forecasts, global IoT revenue in the energy sector will reach $64.8 billion by 2027, up from $27.8 billion in 2022.

ScopeThis report shows how the internet of things is impacting energy operations globallyReasons to BuyThis report will help you to understand IoT and its potential impact on the energy sector.Benchmark your company against your competitors, by comparing how prepared companies in the energy sector are for IoT disruption.Identify and differentiate between the leading IoT vendors and formulate an adoption plan for your company.Position yourself for future success by investing in the right AI technologies. Cut through the noise with GlobalData’s priority ratings for each IoT technology for each segment of the sector (upstream, midstream, downstream, equipment manufacture and services, engineering, procurement, construction, generation, transmission and distribution, and end-user).Develop relevant and credible sales and marketing messages for energy companies by understanding key sector challenges and where IoT use cases are most useful.Identify attractive investment targets by understanding which companies are most advanced in the themes that will determine future success in the energy sector.