Europe Iot In Energy & Utility Application Market Forecast 2018-2026
KEY FINDINGS The Europe IOT in energy & utility application market was calculated to be worth $5403 million in 2017. The market is forecasted to grow with 20.26% CAGR between the projected years of 2018-2026, raising an estimated revenue of $28210 million by the end of 2026.
MARKET INSIGHTS Slow economic growth has resulted in low spending on IT and research and development in the European market. This slower-than-average growth is expected to continue over the projected years, although countries such as Germany, France, and the U.K. are expected to achieve relatively strong growth in their respective home markets. The France IOT in energy & utility application market is predicted to showcase the highest CAGR. France has plans for the widespread installation of smart meters, and has very strong utility gas management and electricity grid supply and management markets. Smart meters are still in the process of being rolled out all over France, following the installations of Linky electricity meters in 2015. The U.K. will continue to be an interesting market and will present growth opportunities for all stakeholders. Positive growth drivers include government support, technological knowledge, strong IT spending, and the large presence of technology and IoT companies. Also, the presence of technology companies and government support is expected to increase the German market reach considerably over the estimated years.
COMPETITIVE INSIGHTS Market giants like Davra Networks Limited, Robert Bosch Gmbh, OSIsoft Llc, Northwest Analytics Inc, Trilliant Incorporated, Qualcomm Incorporated, Amplia Soluciones S.L, Networked Energy Services (NES) Corp, Symboticware Inc, Sap Se, General Electric Corp, and Cisco Systems Inc are engaged in this region.