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Internet of Things (IoT) in Energy - Thematic Intelligence

Publisher GlobalData
Published Oct 03, 2023
Length 64 Pages
SKU # GBDT18282390

Description

Internet of Things (IoT) in Energy - Thematic Intelligence


Summary

The Internet of Things (IoT) has acted as the backbone of digital transformation within the energy sector. Connected devices drive more sophisticated uses of technologies, namely artificial intelligence (AI), for data collection and the automation of processes. IoT can create a tech ecosystem that addresses many challenges within the sector such as balancing supply with demand, workplace safety, integrating renewable energy into the grid, and fluctuating energy prices.

The energy sector has already reaped benefits from early consumer oriented IoT applications such as smart meters and smart thermostats. Incorporating IoT technology is also made easier by the declining costs of IoT hardware, notably sensors. According to GlobalData market forecasts, global IoT revenue in the energy sector will reach $64.8 billion by 2027, up from $27.8 billion in 2022.

Scope
  • This report shows how the internet of things is impacting energy operations globally
Reasons to Buy
  • This report will help you to understand IoT and its potential impact on the energy sector.
  • Benchmark your company against your competitors, by comparing how prepared companies in the energy sector are for IoT disruption.
  • Identify and differentiate between the leading IoT vendors and formulate an adoption plan for your company.
  • Position yourself for future success by investing in the right AI technologies. Cut through the noise with GlobalData’s priority ratings for each IoT technology for each segment of the sector (upstream, midstream, downstream, equipment manufacture and services, engineering, procurement, construction, generation, transmission and distribution, and end-user).
  • Develop relevant and credible sales and marketing messages for energy companies by understanding key sector challenges and where IoT use cases are most useful.
  • Identify attractive investment targets by understanding which companies are most advanced in the themes that will determine future success in the energy sector.

Table of Contents

64 Pages
Executive Summary
Players
Energy Challenges
The Impact of IoT on the Energy Sector
Physical (device) layer
Connectivity layer
Data layer
App layer
Services layer
Addressing the industry challenge of aging infrastructure through IoT innovation
Mitigating the risks of energy security using IoT
IoT enables ongoing data analysis to monitor decarbonization
IoT can help with data management during the energy transition
Case Studies
Engie uses IoT to monitor operational performance and fast-track decarbonization
Equinor introduces remote monitoring for offshore operations
EDF’s use of IoT for predictive maintenance of equipment
SSE Airtricity is developing an IoT-connected operating system
The world’s largest wind farm has been digitally transformed with IoT technology
Market Size and Growth Forecasts
Condition monitoring and smart metering are most widely adopted IoT applications
Signals
Mergers and acquisitions
Patent trends
Company filing trends
Hiring trends
IoT Value Chain
Physical layer
Connected things
Cameras and lenses
Sensors and microcontrollers
Microprocessors
Connectivity layer
Edge infrastructure
Cloud infrastructure
Networking equipment
Telecom networks
Data layer
Data integration
Data aggregation
Data processing
Data storage
Data validation
Data governance and security
App layer
Apps
Platforms
Services layer
Integration services
Consulting services
Companies
Leading IoT adopters in the energy sector
Specialist IoT vendors in the energy sector
Sector Scorecards
Power utilities scorecard
Who’s who
Thematic screen
Valuation screen
Risk screen
Integrated oil & gas sector scorecard
Who’s who
Thematic screen
Valuation screen
Risk screen
Glossary
Further Reading
GlobalData reports
Our Thematic Research Methodology
About GlobalData
Contact Us
List of Tables
Table 1: Energy Challenges
Table 2: Mergers and acquisitions
Table 3: Leading IoT adopters in the energy sector
Table 4: Specialist IoT vendors in the energy sector
Table 5: Glossary
Table 6: GlobalData reports
List of Figures
Figure 1: Key players in IoT
Figure 2: IoT has already become a widely adopted technology
Figure 3: Thematic investment matrix
Figure 4: PTC and Engie develop digital twinning simulations using IoT technologies
Figure 5: A digital twin of unmanned offshore operations
Figure 6: EDF’s IoT technologies
Figure 7: The ICOS vision for home energy management
Figure 8: Ørsted’s 4G connected wind turbines
Figure 9: Global IoT revenue in the energy sector will grow at a CAGR of 18.4% between 2022 and 2027
Figure 10: The IoT market is well-distributed globally & IoT has been adopted in the energy sector for predictive analysis
Figure 11: In H1 2022, IoT-related patent activity in the energy sector peaked at 4,445
Figure 12: Industry uptake of IoT has not been uniform globally
Figure 13: There has been an increasing trend in the number of IoT mentions in industry filings
Figure 14: IoT hiring in the energy sector peaked in Q3 2022
Figure 15: The IoT value chain
Figure 16: The IoT value chain - Physical layer: leaders and challengers
Figure 17: The IoT value chain - Connectivity layer: leaders and challengers
Figure 18: The IoT value chain - Data layer: leaders and challengers
Figure 19: The IoT value chain - App layer: leaders and challengers
Figure 20: The IoT value chain - Services layer: leaders and challengers
Figure 21: Who does what in the power utilities space?
Figure 22: Thematic screen - Power utilities scorecard
Figure 23: Valuation screen - Power utilities scorecard
Figure 24: Risk screen - Power utilities scorecard
Figure 25: Who does what in the integrated oil & gas space?
Figure 26: Thematic screen - Integrated oil & gas sector scorecard
Figure 27: Valuation screen - Integrated oil & gas sector scorecard
Figure 28: Risk screen - Integrated oil & gas sector scorecard
Figure 29: Our five-step approach for generating a sector scorecard

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