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IoT In Utilities Market Value Analysis: What Growth Is Expected Over The Forecast Period?
The iot in utilities market has experienced significant expansion in recent years. Its valuation is predicted to climb from $57.18 billion in 2025 to $65.67 billion in 2026, demonstrating a compound annual growth rate (CAGR) of 14.8%. This historical growth can be linked to the wider digitization of utility networks, a growing requirement for grid visibility, increased integration of renewable energy, the rising adoption of remote asset monitoring, and the availability of utility-grade sensors.
The iot in utilities market size is projected to experience substantial expansion over the upcoming years. By 2030, this market is anticipated to reach a valuation of $115.12 billion, advancing at a compound annual growth rate (CAGR) of 15.1%. This forecasted growth is linked to several factors, including the wider uptake of AI-driven grid optimization, a heightened emphasis on meeting emission reduction goals, the proliferation of microgrid installations, increased capital directed towards utility cybersecurity, and a greater need for predictive maintenance solutions. Key trends expected during the forecast timeframe encompass the expanding implementation of smart grid iot platforms, a growing embrace of advanced metering infrastructure, the deepening integration of distributed energy resource monitoring, the scaling up of real-time utility analytics systems, and a sharpened focus on optimizing grid reliability.
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IoT In Utilities Market Expansion Supported By Key Demand Factors
The increasing need for waste management is anticipated to drive the future expansion of the IoT in utilities market. Waste management involves the methodical collection, treatment, disposal, and responsible handling of waste materials. This heightened demand stems from organisations and communities seeking efficient, sustainable, and hygienic solutions that minimize environmental impact, optimize resource recovery, and ensure secure disposal with minimal operational disruption. The Internet of Things (IoT) in waste management empowers utilities and municipalities to streamline operations, reduce costs, enhance sustainability, and improve the quality of waste management services, contributing to cleaner and more sustainable urban environments. For example, in February 2024, the United Nations Environment Programme, a Kenya-based international organisation, reported that municipal solid waste generation was estimated at 2.1 billion tonnes in 2023 and is projected to rise to 3.8 billion tonnes by 2050. Thus, the escalating demand for waste management is propelling the growth of the IoT in utilities market.
#IoT In Utilities Market Segment Landscape And Growth Potential
The iot in utilities market covered in this report is segmented –
1) By Component: Platform, Solutions, Services, Other Components
2) By Technology: Sensors, RFID, Connectivity Technology
3) By Application: Electricity Grid Management, Gas Management, Water and Waste Management, Other Applications
Subsegments:
1) By Platform: Cloud Platforms, Edge Computing Platforms
2) By Solutions: Smart Metering, Asset Management, Grid Management, Water Management, Energy Management
3) By Services: Consulting Services, Integration Services, Maintenance And Support Services
4) By Other Components: Devices And Sensors, Network Infrastructure, Data Management Tools
IoT In Utilities Market Growth Trends Influencing Competitive Dynamics
Leading companies within the IoT in utilities market are increasingly prioritizing technological innovations, such as satellite Internet of Things (IoT) networks, to foster new capabilities in connectivity, monitoring, and remote asset management, particularly in remote or underserved locations. Satellite Internet of Things (IoT) networks are communication systems that leverage satellites to connect IoT devices in distant or hard-to-reach areas, facilitating data transmission, monitoring, and control without reliance on terrestrial networks. For instance, in July 2023, Viasat Inc., a US-based internet service provider commercial company, unveiled technological advancements in satellite-enabled Internet of Things (IoT) networks. This progress enables utilities and critical infrastructure operators to remotely oversee and manage assets, improve cybersecurity through secure traffic routing and encryption, support climate and disaster resilience with environmental monitoring and early warning systems, and enhance overall operational efficiency and risk management, thereby establishing satellite IoT as a pivotal tool for modernizing power grids and accelerating the global transition to renewable energy sources.
IoT In Utilities Market Competitive Landscape: Who Are The Leading Companies?
Major companies operating in the iot in utilities market are International Business Machines Corporation; Oracle Corporation; Verizon Communications Inc.; Cisco Systems Inc.; Vodafone Group Plc; Telit Communications PLC; Landis+Gyr AG; Itron Inc.; Schneider Electric SE; Huawei Technologies Co. Ltd.; Trimble Inc.; Asea Brown Boveri Corporation; Honeywell International Inc.; Siemens AG; General Electric; Aclara Technologies LLC; Trilliant Networks Inc; Energyworx; Hindustan Computers Limited; Altair Engineering; Actility S. A; WAVIoT; Rayven LLC; Bosch Software Innovations; C3. AI Inc.; Parametric Technology Corporation; Spectrum; Samsara Inc.; Sierra Wireless; SoluLab; Silver Spring Networks; Sensus; Badger Meter Inc.; Kamstrup A/S; Elster Group GmbH
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IoT In Utilities Market Largest Region By Revenue And Market Share
North America was the largest region in the IoT in utilities market in 2025.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the iot in utilities market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Wasay has over a decade of experience in market research, data modelling, and analytics, with prior experience at GlobalData and Decision Tree Consulting Services. At The Business Research Company , he leads research operations across syndicated studies, customized consulting engagements, and the Global Market Model platform. His professional experience includes supporting organizations such as Boston Consulting Group, KPMG, and Ernst & Young. Wasay holds a degree in Electronics and Communications Engineering, postgraduate management qualifications from International Management Institute Belgium and Indian School of Business and Entrepreneurship, and completed the Integrated Program in Business Analytics from Indian Institute of Management Indore.