ResearchnReports forecasts the Internet of Things in Utilities market to grow by +20% by 2025.
The market is expected to be driven by new regulation supporting utility adoption of IoT technologies.
In addition, newly invented strategies by both utilities and IoT solutions providers are expected to positively impact the market.
Utility companies will increase adoption of IoT solutions to ensure operational cost efficiency, grid reliability, enhance safety for workers and customers and improve customer experience.
Energy companies will deploy IoT solutions as they rally to achieve digital transformation/Industry 4.0 goals.
ResearchnReports says IoT solutions will enable utilities to gain more visibility in the challenging operational environment and enhance productivity, solve critical problems, and improve real-time decisions.
The operational control software market is the highest revenue generating software segment.
The analytical solutions are expected to grow at a high CAGR as the increasing trends of mobile, cloud, and smart devices, along with factors such as predictive analytics for business, conducive analytics platforms, and end-to-end automation.