COVID-19 Recovery Analysis: IoT Market in Energy Grid Management |Penetration Of Smart Technologies to boost the Market Growth | Technavio
Technavio has been monitoring the IoT market in energy grid management industry and it is poised to grow by $ 16.14 bn during 2020-2024, progressing at a CAGR of almost 12% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Technavio has announced its latest market research report titled Global IoT Market in Energy Grid Management 2020-2024 (Graphic: Business Wire)
Although the COVID-19 pandemic continues to transform the growth of various industries, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. Technavio's in-depth research has all your needs covered as our research reports include all foreseeable market scenarios, including pre- & post-COVID-19 analysis. We offer $1000 worth of FREE customization
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Accenture (News - Alert) Plc, Cisco Systems Inc., Huawei Investment & Holding Co. Ltd., Intel Corp., International Business Machines Corp., Robert Bosch GmbH, Schneider Electric SE, Siemens AG, Texas Instruments (News - Alert) Inc., and Verizon Communications Inc. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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Penetration of smart technologies has been instrumental in driving the growth of the market. However, centralization of data might hamper market growth.
Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations. Download a Free Sample Report on COVID-19 Impacts
IoT market in energy grid management 2020-2024: Segmentation
IoT market in energy grid management is segmented as below:
IoT market in energy grid management 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The IoT market in energy grid management market report covers the following areas:
This study identifies the increasing installation of smart energy meters as one of the prime reasons driving the IoT market in energy grid management growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio's in-depth research has direct and indirect COVID-19 impacted market research reports.
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IoT market in energy grid management market 2020-2024: Key Highlights
Table of Contents:
Five Forces Analysis
Market Segmentation by Application
Market Segmentation by Solution
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