Internet Of Things (IoT) In Energy Market Size to Surpass USD 75.03 Billion by 2032 Owing to the Rising Adoption of Smart Grids and Real-Time Monitoring | SNS Insider

The IoT energy market is growing due to smart grids, real-time monitoring, and AI/ML integration for advanced energy analytics.

Pune, March 06, 2025 (GLOBE NEWSWIRE) -- Internet Of Things (IoT) In Energy Market Size Analysis:

“The Internet of Things (IoT) In Energy Market size was USD 26.73 Billion in 2023 and is expected to reach USD 75.03 Billion by 2032, growing at a CAGR of 12.2% over the forecast period of 2024-2032.”

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Major Players Analysis Listed in this Report are:

• GridPoint, Inc. (GridPoint Energy Management System, GridPoint Smart Building Platform)
• Aeris Communications, Inc. (Aeris Fusion IoT Network, Aeris Intelligent IoT Connectivity)
• IBM Corporation ( IBM Maximo Asset Monitor, IBM Watson IoT Platform)
• Siemens AG (MindSphere IoT Platform, Siemens Spectrum Power)
• Johnson Controls International PLC (OpenBlue Enterprise Manager, Johnson Controls Metasys)
• AGT International SpA (IoTA Industrial IoT Platform, AGT Predictive Energy Analytics)
• Cisco Systems , Inc. (Cisco Kinetic for Cities, Cisco IoT Control Center)
• Davra Networks Limited (Davra IoT Platform, Davra Energy Optimization Suite)
• Intel ( Intel IoT Gateway, Intel Edge Insights for Industrial)
• SAP SE ( SAP Leonardo IoT, SAP Predictive Maintenance and Service)

Internet Of Things (IoT) In Energy Market Report Scope:

Report Attributes	Details
Market Size in 2023	USD 26.73 Billion
Market Size by 2032	USD 75.03 Billion
CAGR	CAGR of 12.2% From 2024 to 2032
Base Year	2023
Forecast Period	2024-2032
Historical Data	2020-2022
Key Regional Coverage	North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe [Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]). Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America)
Key Growth Drivers	Increasing Adoption of Smart Grids and Real-Time Monitoring Drives IoT in the Energy Market Growth

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IoT Revolutionizing the Energy Sector with Enhanced Efficiency and Sustainability

The IoT in the energy sector is promoting efficiency, optimizing resources, and facilitating predictive maintenance. The major applications such as real-time monitoring, smart grids, and remote asset management minimize energy wastage by 30%, decrease maintenance expenses by 25%, and shorten outage times by 17%. IoT also increases solar and wind energy efficiency by 10%, which makes renewables more feasible. AI and ML integration further improves automation and decision-making. With the growth of IoT adoption and a world move towards carbon reduction, the energy industry is witnessing a revolutionary change, guaranteeing future cost-efficient, data-driven, and sustainable management of energy.

By Component, Solution Segment Dominates IoT in Energy Market, While Services Poised for Rapid Growth

In 2023, the Solution segment led the IoT in the energy sector with 82% of the revenue. The segment comprises hardware and software elements necessary for real-time monitoring, data analysis, and automation in energy networks. The high demand for IoT solutions in the market is evident in key industry trends, including Schneider Electric 's introduction of the EcoStruxure IoT platform and Siemens ' MindSphere IoT operating system. On the other hand, the Services segment will be witnessing the highest CAGR of 13.4% over the forecast period, influenced by the demand for implementation, consulting, and managed services.

By Application, Smart Grids Dominate IoT in Energy Market, While Coal Mining Sees Fastest Growth

The Smart Grid segment was the highest revenue-generating segment in 2023. Smart grids based on IoT improve the efficiency of electricity distribution, grid reliability, and sustainability through real-time monitoring, predictive maintenance, and effective energy management. The Coal Mining segment is expected to witness the highest CAGR, with IoT solutions improving safety, optimizing production, and lowering operational expenses in mining activities.

By Connectivity, Wi-Fi Dominates IoT in Energy Market, While Z-Wave Poised for Rapid Growth

Wi-Fi led the IoT energy market in 2023, with a revenue share of 35% as a result of its strong data transmission and network integration capabilities. Morse Micro's award at the 2023 Wi-Fi NOW Awards for its Wi-Fi HaLow solutions demonstrates the increasing significance of Wi-Fi in IoT applications. Z-Wave, on the other hand, is expected to experience the highest CAGR of 13.0% as a result of its secure, low-power, and long-range connectivity features. New technologies such as Trident IoT's Taurus Z-Wave Series and Shelly Group's new Z-Wave series are likely to drive this segment's growth.

Internet Of Things (IoT) In Energy Market Segmentation:

By Component

• Solution
  • Asset Management
  • Energy Management
  • Safety Solution
  • Connected Logistics
  • Compliance & Risk Management
  • Data Management & Analytics
  • Others

• Services
  • Professional Services
  • Managed Services

By Application

• Oil & Gas
• Coal Mine
• Smart Grid

By Deployment Mode

• On-premise
• Cloud

By Connectivity

• Zigbee
• Wi-Fi
• Bluetooth
• Z-Wave
• Others

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North America Dominates IoT in Energy Market, While Asia Pacific Sees Fastest Growth

In 2023, North America dominated the IoT in the energy segment with about 39% of the total revenue share globally. The country's technological innovation and government backing of smart energy technologies have propagated the adoption of IoT. IoT technologies enable the effective control of renewable energy sources, enhance the reliability of the grid, and offer real-time insights into energy consumption, thereby optimizing overall energy utilization.

Asia Pacific is witnessing the fastest growth, with a predicted CAGR of 13.3% from 2024 to 2032. Urbanization, rising energy needs, and spending on smart grid technology are the primary growth drivers for the region. China and Japan are proactively minimizing their carbon emissions and are making heavy investments in smart city initiatives that have IoT-based energy management solutions embedded within them.

Recent Development

• January 2025:  IBM emphasized the transformative role of IoT data in driving innovation across industries. The proliferation of 5G technology has accelerated the deployment of IoT devices across multiple sectors, including energy. With advancements in AI and cloud computing, IoT-enabled devices now collect and analyze energy consumption data more efficiently, improving energy management and sustainability.

Table of Contents – Major Key Points

1. Introduction

2. Executive Summary

3. Research Methodology

4. Market Dynamics Impact Analysis

5. Statistical Insights and Trends Reporting

6. Competitive Landscape

7. Internet Of Things (IoT) In Energy Market Segmentation, By Connectivity

8. Internet Of Things (IoT) In Energy Market Segmentation, By Deployment Mode

9. Internet Of Things (IoT) In Energy Market Segmentation, By Application

10. Internet Of Things (IoT) In Energy Market Segmentation, By Component

11. Regional Analysis

12. Company Profiles

13. Use Cases and Best Practices

14. Conclusion

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