Portland, OR , July 14, 2022 (GLOBE NEWSWIRE) — As per the report published by Allied Market Research, the global internet of things (IoT) in energy market was accounted for $109.19 billion in 2021, and is estimated to garner $703.52 billion by 2031, growing at a CAGR of 20.6% from 2022 to 2031.
Surge in penetration of IoT-based solution in the energy sector and increased adoption of network technologies have boosted the growth of the global internet of things (IoT) in energy market. On the other hand, increase in adoption of IoT and AI in the energy industry and deployment of smart grid for energy optimization in commercial, household, and industrial buildings are expected to open lucrative opportunities in the future.
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Covid-19 scenario:
- The Covid-19 pandemic positively affected the market due to surge in adoption of work from home culture across the globe.
- During the pandemic, IoT proved to be very advantageous for the energy sector as it allowed to control energy usage from remote location.
Get detailed COVID-19 impact analysis on the internet of things (IoT) in energy market: https://www.alliedmarketresearch.com/request-for-customization/2937
The report divides the global internet of things (IoT) in energy market on the basis of component, network technology, application, organization size, and region.
Based on component, the solution segment…
