The market expansion is fueled by the increasing adoption of IoT-enabled energy solutions that enable real-time monitoring, predictive maintenance, and intelligent management of energy consumption across residential, commercial, and industrial sectors. Integration of IoT technologies with renewable energy sources, such as solar and wind power, is enhancing grid efficiency and optimizing energy utilization.
Chicago, Feb. 04, 2026 (GLOBE NEWSWIRE) — The global IoT in energy market was valued at 38.1 billion in 2023 and is expected to reach US$ 285.9 billion by 2033, growing at a CAGR of 25.1% from 2024 to 2032.
The global IoT in energy market has encountered significant growth due to technological advancements and the growing demand for efficient energy management. Integrating IoT with energy systems allows real-time monitoring, analysis, and control of energy consumption, resulting in enhanced efficiency and cost savings. The growing emphasis on energy efficiency across different sectors, including commercial, residential, and industrial, pushes the adoption of IoT in energy solutions. IoT-enabled devices allow real-time data collection, analysis, and control, leading to improved energy efficiency and reduced wastage.
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Integration of IoT with Solar and Wind Power Optimizes Energy Efficiency and Grid Management
The integration of IoT technologies with renewable energy sources, such as solar and wind power, is propelling the adoption of IoT in energy solutions. This integration allows remote predictive maintenance, monitoring, and intelligent grid management, optimizing the utilization of renewable energy resources. Advancements in connectivity technologies, including 5G networks and LPWAN, play a crucial role in the growth of the IoT in the energy market. These technologies offer improved bandwidth, low latency, and reliable connectivity, facilitating seamless communication between IoT devices and energy management systems.
Government Initiatives and Regulatory Pressure Accelerate IoT Adoption in Energy Efficiency
The growing demand for energy efficiency is a key driver in the global IoT in energy market. There is a growing emphasis on sustainable energy management and the requirement to optimize energy consumption across different sectors, including residential, commercial, and industrial. With the rising costs of energy and the environmental impact of excessive energy consumption, organizations and individuals are actively seeking ways to improve efficiency and reduce wastage.
IoT-enabled devices and systems play a crucial role in achieving energy efficiency goals. These devices allow for real-time data collection, analysis, and control, allowing users to monitor and optimize energy consumption. For example, smart meters can deliver detailed insights into energy usage patterns, allowing users to make informed decisions about energy conservation measures. Similarly, connected thermostats and lighting systems can automatically adjust settings based on occupancy and environmental conditions, reducing energy waste.
The drive for energy efficiency is further reinforced by regulatory frameworks and government initiatives aimed at promoting sustainable practices. Organizations are increasingly adopting IoT in energy solutions to comply with regulations, lower functional costs, and enhance their environmental footprint. The growing awareness and emphasis on energy efficiency create a favorable market terrain for IoT in energy solutions.
IoT Deployment Services Drive Efficiency, Cost Savings, and Operational Performance in Energy Management
The Deployment and Integration segment emerges as the largest revenue-generating segment. In 2023, this segment attained its highest market valuation, reflecting its significant contribution to the overall market. Furthermore, it is projected to continue its growth trajectory at a rate of 28% in the coming years.
The Deployment and Integration segment plays a crucial role in enforcing IoT solutions within the energy sector. It encompasses services such as system installation, configuration, connectivity setup, and integration of IoT devices and platforms into existing energy infrastructure. This segment of the global IoT in energy market ensures the seamless integration of IoT technologies, enabling real-time data collection, analysis, and control for efficient energy management.
The growing adoption of IoT in energy solutions across different sectors, including commercial, residential, and industrial, drives the demand for deployment and integration services. Organizations seek expert assistance to deploy and integrate IoT systems into their energy infrastructure effectively. This ensures the smooth transition from traditional energy management practices to IoT-enabled solutions, leading to enhanced energy efficiency, cost savings, and improved operational performance.
Government Support and Smart Infrastructure Investments Drive IoT Adoption in North American Energy Sector
North America is estimated to maintain its dominant position in the global IoT in energy market. In 2023, the region contributed more than US$ 12.5 million to the global market, accounting for a significant share. According to the Department of Energy, North America has been at the forefront of technological advancements and investments in smart grid infrastructure, which has propelled the adoption of IoT in energy solutions.
The United States, in particular, has been a major driver of IoT in energy market growth in North America. The country has seen substantial investments in smart grid technologies, with initiatives such as the Smart Grid Investment Grant Program and the Grid Modernization Initiative. These initiatives have supported the integration of IoT technologies into energy infrastructure, allowing real-time monitoring, analytics, and control of energy consumption. Furthermore, according to the Department of Energy, the deployment of smart meters in the United States has shown significant progress. As of 2021, around 71% of electricity customers in the country had smart meters installed, providing a solid foundation for IoT-enabled energy management.
Also, the growing demand for energy efficiency, government support for clean energy initiatives, and the need to modernize aging energy infrastructure. Moreover, the ongoing transition towards renewable energy sources, such as wind and solar power, presents significant opportunities for IoT in energy solutions in North America. The integration of IoT technologies with these decentralized energy systems enables efficient management and optimization of renewable energy resources.
Internet of Things (IoT) in Energy Market Major Players:
- Accenture
- Actility
- Altair
- Cisco Systems Inc.
- Flutura
- IBM Corporation
- Intel Corporation
- MEAZON
- Northwest Analytics Inc.
- PingThings
- SAP SE
- Schneider Electric SE
- Siemens
- Symboticware
- Telit
- ABB
- C3.AI
- Honeywell
- Hitachi Vantara
- Rockwell Automation
- Other Prominent Players
Key Market Segmentation:
By Component
- Hardware
- Software/Platform
- Services
By Type
- Consulting Service
- Support And Maintenance
- Deployment And Integration
- Managed Service
- Professional Service
By Network Technology
- Cellular Network
- Satellite Network
- Radio Network
By Application
- Energy Management
- Power Distribution
- Mobile Workforce Management
- Asset and Equipment Monitoring
- Field Surveillance
- Others
By Region
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- South America
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