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Energyworx Recognizes MarketsandMarkets as Key Reference for Market Trends in IoT in Utility Market
In a recently published article by Energyworx on IoT in Utility Market, MarketsandMarkets was highlighted as a prime source for market trends in this industry.
IoT is making its presence felt not only in the computing world but it is also penetrating into various sectors like utility, manufacturing, energy & power, and healthcare, among others. Implementation of IoT in the utility sector will ensure operational and cost efficiency, reliability, and safety. The global IoT in Utility market is set to foresee a significant growth with over 20% CAGR, reaching $11.73 Billion by the end of 2020. The major reasons behind this transformation is the growing need for improved customer experience, reducing costs of IoT components, emerging cloud platform, and rising need for better connectivity coupled with increasing usage of smartphones. Moreover, leading utility companies are actively investing in IoT for transforming their business practices.
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Report mentioned in the above news is,
Internet of Things (IoT) in Utility Market by Software (Analytics, Security, Smart Grid Management, Predictive Asset Maintenance, and CIS & Billing System), Platform, Service, Application, and by Region - Global Forecast to 2020