Internet of Things (IoT) in Power - Thematic Research

In 2021, the power sector has faced significant challenges across the entire value chain. These include spiking energy costs, transitioning to renewables, and safeguarding assets against extreme weather conditions. The Internet of Things (IoT), billed as a key part of the next industrial revolution or Industry 4.0, can significantly transform the power sector by optimizing operations, managing asset performance, and engaging customers to lower energy costs.

The power sector is already reaping benefits from early consumer-oriented IoT applications: smart meters and smart thermostats. Incorporating IoT technology is also made easier by the declining costs of IoT hardware, notably sensors. According to the publisher figures, global IoT revenue in the energy sector will reach $59 billion by 2025, up from $34 billion in 2019.

Scope

• The report focuses on understanding the impact of Internet of Things (IoT) and its potential applications in the power industry.
• Review of the recent technological advancements in IoT that could set the tone for its adoption across diverse industries.
• Assessment of the strategies and initiatives adopted by power companies to gain a competitive advantage in this theme.

Reasons to Buy

• Understand the importance of IoT in power operations.
• Identify the key challenges facing the power sector, and how IoT technologies help to tackle them.
• Highlight major use cases for IoT in the power industry.
• Identify and benchmark key power companies and technology providers based on their exposure to the IoT theme across the value chain.