IoT in Energy & Utility Applications Market to Post 22.9% CAGR to 2022, Expects BCC Research in Its Report Available at MarketPublishers.com09 Nov 2017 • by Natalie Aster
LONDON – Worldwide, the market for the IoT in energy and utility applications was worth USD 21.4 billion as of 2017. It is set to climb to USD 59.9 billion by end-2022, registering a 22.9% CAGR.
With respect to technology types, the hardware segment takes the lead in the world IoT in energy and utility applications marketplace. The sector is anticipated to gather momentum posting a 21.7% CAGR over the next 5 years, increasing from USD 6.5 billion in 2017 to amount to USD 17.3 billion in 2022.
The services segment of the market is projected to increase from a value of USD 5.9 billion as of 2017 to USD 17 billion by 2022-end, registering a 23.5% CAGR during the projected time.
Geography-wise, the APAC region is likely to see continued robust growth of the market for the IoT in energy and utility applications.
Insightful report “The Internet of Things (IoT) in Energy and Utility Applications” drawn up by BCC Research offers an all-encompassing, granular overview and assessment of the market on a global scale.
The research study provides the market and technology background. It offers detailed market categorisation based on technology type, end-use sector, connectivity, as well as region-wise. The research gives details about the recently issued patents and their importance, offers an insightful analysis if the market opportunities, and tracks the most recent industry developments. The report delves deep into the market dynamics covering key market growth hindrances and driving factors, as well as major challenges and concerns. The study examines the competitive scene in the industry, limelights the competition amid the current players and new market entrants, M&As, etc. It includes detailed profiles of the top players, their business review, product and service offerings, strengths and challenges. Furthermore, granular forecasts of the world IoT in energy and utility applications market through to 2022 are at hand in the publication.
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