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Internet of Energy Market to Witness Robust Expansion by 2028

Shubham Bhande

Published on Aug 04, 2023

The global Internet of Energy Market size was significantly robust in 2020 and is expected to register a steady revenue CAGR over the forecast period. Key factors driving market revenue growth are increasing automation, optimization of energy resources, proactive repair mechanisms, and predictive protocols for disruption. In addition, cost-effective and efficient energy distribution by combining Internet

The Internet of Energy (IoE) is a technological innovation in the energy industry that integrates IoT (Internet of Things). The Internet of Energy (IoE) refers to all objects associated with the provision and use of electricity, right from power grid to individual electronic devices. The major goal is to create hardware, software, and middleware to enable seamless, secure connectivity and interoperability between the internet and energy grids.

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Revenue growth of the global Internet of Energy (IoE) market is significantly driven by rising concerns regarding evaluation of optimal overall health of assets, ranging from turbines to transmission lines, by sensors employed to calculate temperature, tear, vibration, wear, and other data. Changes in sensor data can communicate information from distant equipment to detect an oncoming failure, thereby preventing damage and downtime and giving the system far greater flexibility. To avoid instability, the grid can use Internet of Energy (IoE) to ensure that connected power generation stations have met all connection standards, from frequency to voltage regulation, and also has the ability to provide real-time data needed to properly manage congestion on transmission and distribution networks. Internet of Energy (IoE) enables a smart grid system to gain full control over energy flow and thus significantly reduces energy consumption, which is expected to further boost revenue growth of the global market.

Top 10 Companies Operating in the Global Internet of Energy Market:

Schneider Electric
Cisco Systems
IBM Corporation
HCL Technologies
Telit Communications PLC
Thales Group
Honeywell International
Rockwell Automation
Intel Corporation
Huawei Technologies
Microsoft Corporation
Ingersoll Rand Plc
NYDRO
Energeia
General Electric Company
Siemens AG
ABB Ltd

Utility Outlook (Revenue, USD Billion; 2018-2028)

Generation
Transmission
Distribution
Consumption

Application Outlook (Revenue, USD Billion; 2018-2028)

Energy Management
Asset and Equipment Monitoring
Field Surveillance
Others

Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.

North America (U.S., Canada, Mexico)
Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
Latin America (Brazil, Rest of LATAM)
Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Key Takeaways of the Competitive Overview Section:

Overview of the company profiles of each market player
Industrial chain analysis of each player
Revenue share contribution
Sales network and distribution channels and net profits and losses of each company
Key business growth strategies are undertaken by these players

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of Things (IoT) energy management solutions and devices is another key factor expected to drive demand for Internet of energy, and support market revenue growth.