Us Internet of Things (IoT) in Utility Market Size By Applications, By Type, By End-User, By Deployment & By Technology 2032
Internet of Things (IoT) in Utility Market was valued at USD 8.4 Billion in 2022 and is projected to reach USD 31.5 Billion by 2030, growing at a CAGR of 18.1% from 2024 to 2030.
The Internet of Things (IoT) has revolutionized various industries, and the U.S. utility sector is no exception. By integrating IoT technologies, utilities have enhanced operational efficiency, improved customer service, and optimized resource management. This transformation is evident in several key areas:
Smart Metering and Grid Management: IoT-enabled smart meters provide real-time data on energy consumption, enabling utilities to monitor usage patterns, detect outages promptly, and manage energy distribution more effectively. This data-driven approach leads to better demand forecasting and grid optimization.
Predictive Maintenance: IoT sensors embedded in infrastructure such as pipelines and power lines monitor equipment health, allowing for predictive maintenance. This proactive strategy reduces downtime, extends asset lifespan, and lowers maintenance costs.
Enhanced Customer Engagement: Utilities leverage IoT to offer customers detailed insights into their energy usage, fostering informed decisions and promoting energy conservation. Interactive platforms and mobile applications empower consumers to track consumption and manage bills efficiently.
Integration with Renewable Energy Sources: IoT facilitates the integration of renewable energy sources like solar and wind into the grid. By monitoring weather conditions and energy production levels, utilities can balance supply and demand, ensuring a stable and sustainable energy supply.
As of 2023, the global IoT in utilities market was valued at approximately USD 47.53 billion, with projections indicating a compound annual growth rate (CAGR) of 10.7% from 2024 to 2030. This growth reflects the increasing adoption of smart technologies across the energy, water, and gas sectors. The U.S. market, in particular, is expected to generate the highest revenue, with projections reaching USD 379.90 billion by 2025. The automotive IoT sector is anticipated to dominate, with a projected market volume of USD 99.75 billion in the same year. Looking ahead, the revenue is expected to exhibit a CAGR of 9.45% from 2025 to 2029, resulting in a market volume of USD 545.10 billion by 2029.
Several companies are at the forefront of this IoT revolution in the U.S. utility market:
Itron, Inc.: Specializes in smart meters, advanced communications technology, and analytics software, partnering with utilities to modernize infrastructure and enhance resource management.
Oracle Corporation: Collaborates with AT&T to integrate IoT connectivity into Oracle's Enterprise Communications Platform, enabling near real-time data collection and management for utilities.
AT&T Inc.: Provides IoT connectivity solutions that support utilities in deploying smart grid technologies and enhancing operational efficiency.
Despite the numerous benefits, the integration of IoT in the utility sector also presents challenges, particularly concerning cybersecurity. In 2024, U.S. utilities experienced a 70% increase in cyberattacks compared to the previous year, highlighting the need for robust security measures to protect critical infrastructure. The rapid expansion and digitalization of the power grid have introduced new vulnerabilities, making it imperative for utilities to invest in advanced cybersecurity protocols to safeguard against potential threats.
In summary, the adoption of IoT technologies in the U.S. utility market has led to significant advancements in operational efficiency, customer engagement, and resource management. However, addressing cybersecurity concerns remains a critical priority to ensure the continued success and resilience of these smart utility systems.
Get an In-Depth Research Analysis of the Global Internet of Things (IoT) in Utility Market Size And Forecast [2025-2032]
SILVERS SPRING NETWORKS
TRILLIANT
OSISOFT
C3 ENERGY
ENERGYWORX SOLUTIONS & SERVICES B.V.
CRYPTOSOFT
TIBBO TECHNOLOGY
AMPLIA SOLUCIONES
WAVIOT
GRID4C
PEOPLE POWER
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Internet of Things (IoT) in Utility Market
Electric Smart Meters
Gas Smart Meters
Water Smart Meters
Multi-Utility Smart Meters
Outage Management Systems (OMS)
Distribution Management Systems (DMS)
Real-Time Monitoring and Control
Data Analytics and Reporting
Smart Thermostats
Smart Appliances
Energy Consumption Dashboards
Demand Response Solutions
Smart Grids
Energy Storage Systems
Microgrid Solutions
Distributed Energy Resources (DER) Management
Condition Monitoring Systems
Asset Health Analytics
Predictive Maintenance Software
IoT Sensors for Equipment Monitoring
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Internet of Things (IoT) in Utility Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Internet of Things (IoT) in Utility Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Internet of Things (IoT) in Utility Market, By Type
6. Global Internet of Things (IoT) in Utility Market, By Application
7. Global Internet of Things (IoT) in Utility Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Internet of Things (IoT) in Utility Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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