Global Internet of Things (IoT) in Energy Market to Reach $71.6 Billion by 2030
The global market for Internet of Things (IoT) in Energy estimated at US$34.4 Billion in the year 2023, is expected to reach US$71.6 Billion by 2030, growing at a CAGR of 11% over the analysis period 2023-2030. IoT in Energy Platform, one of the segments analyzed in the report, is expected to record a 10.8% CAGR and reach US$24.6 Billion by the end of the analysis period. Growth in the IoT in Energy Solutions segment is estimated at 11.8% CAGR for the next 7-year period.
The U.S. Market is Estimated at $10.4 Billion, While China is Forecast to Grow at 10.4% CAGR
The Internet of Things (IoT) in Energy market in the U.S. is estimated at US$10.4 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$12.3 Billion by the year 2030 trailing a CAGR of 10.4% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 9.6% and 9.2% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 8% CAGR.
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