Dublin, Sept. 17, 2019 (GLOBE NEWSWIRE) — The “Global Internet of Energy Market: Focus on Industry Streams (Oil & Gas, Power), Applications (Fleet & Asset Management, Preventive Maintenance, Energy Management), Use Cases, Solutions, Stakeholder Analysis – Analysis and Forecast 2019-2024” report has been added to ResearchAndMarkets.com’s offering.
The Global Internet of Energy Industry Analysis projects the market to grow at a significant CAGR of 21.05% during the forecast period from 2019 to 2024. The market growth is expected to be driven by the rising concern for energy efficiency, growing market penetration of decentralized power generation, as well as the need to prevent cyber-attacks.
The increasing demand for energy efficiency across the globe has propelled the need for Internet of Energy. Moreover, there is an increased concern for decentralized power generators in the electricity distribution supply chain to reduce electricity demand. The growth of the market is likely to be encouraged by increasing cyber-attacks on the communication infrastructure, leading to the loss of energy.
Energy management, asset and equipment monitoring, and field surveillance are the major applications of IoE in the power industry. In 2018, the energy management application accounted for more than 40% of the total Internet of Energy in the power market. During the forecast period, asset and equipment monitoring application is expected to display the highest growth of 25.01% owing to the increasing concerns over cyber-attacks on the electrical equipment across the supply chain.
Scope of the Market
The Internet of Energy market research provides a detailed perspective regarding the applications, its value, and estimation, among others. The purpose of this market analysis is to examine the Internet of the Energy market in terms of factors driving the market, trends, technological developments, and funding scenario, among others.
The report further takes into consideration the market dynamics and the competitive landscape along with the detailed financial and product contribution of the key players operating in the market. The Internet of Energy market report is a compilation of different segments including market breakdown by application, industry stream, and region.
The Internet of Energy is based on various application catered to the oil and gas and power industry. The oil and gas industry applications include fleet and asset management, preventive maintenance, pipeline monitoring, and security management. Similarly, the power industry applications include energy management, asset and equipment monitoring, and field surveillance. Fleet and asset management in the oil and gas industry and energy management in the power industry accounted for the largest share in the market as a result of the increasing demand for asset security and continuous power supply, worldwide. During the forecast period, preventive maintenance in the oil and gas industry is expected to display the highest growth, owing to the increasing demand for operational efficiency to fulfill the energy requirement.
The emerging trends of the Internet of Energy market vary across different regions. In 2018, North America was at the forefront of the market, with a huge market concentration in the U.S. During the forecast period, Asia-Pacific region is expected to flourish as one of the most lucrative markets for Internet of Energy. Rising demand for decentralized power generation drives the growth of the Internet of the Energy market. Regions such as South America and the Middle East are also expected to exhibit significant growth opportunities for the Internet of Energy due to the increased optimism in the economic conditions in these countries.
Key Companies in the Market
The prominent players in the Internet of Energy market include General Electric Company, Siemens AG, Schneider Electric, ABB Ltd, Honeywell International, Rockwell Automation, Ingersoll Rand Plc, Microsoft Corporation, Cisco Systems, IBM Corporation, Intel Corporation, Huawei Technologies, and HCL Technologies, and Telit Communications PLC.
Key Questions Answered in this Report
- What is the global Internet of Energy market size in terms of revenue from 2018-2024, and what is the expected growth rate during the forecast period 2019-2024?
- What is the revenue generated by the Internet of Energy solutions in both the power and oil & gas industry?
- What is the revenue generated by the Internet of Energy solutions in different power industry streams such as generation, transmission, and distribution?
- What is the revenue generated by the Internet of Energy solutions in different oil & gas industry streams such as upstream, midstream, and downstream?
- What is the revenue generated by the Internet of Energy solutions in different applications of power and oil & gas industry?
- What is the market size and opportunities of the Internet of Energy across different regions?
- What are the major driving forces that are expected to increase the demand for the global Internet of Energy market during the forecast period?
- What are the key trends and opportunities in the market pertaining to the Internet of Energy?
- What are the major challenges inhibiting the growth of the global Internet of the Energy market?
- Which are the major stakeholders in terms of their contribution and impact on the Internet of Energy ecosystem?
- What kind of new strategies are adopted by the existing market players to expand their market position in the industry?
- What is the competitive strength of the key players on the Internet of Energy market on the basis of the analysis of their recent developments, product offerings, and regional presence?
- What is the regulatory landscape in different regions for the Internet of Energy?
Key Topics Covered
1 Overview: Internet of Energy
1.1 Internet of Energy Solutions
1.1.1 Sensing Systems
1.1.3 Cloud and Edge Computing
1.1.4 Data Management
1.2 Use Cases of Internet of Energy
1.2.1 Energy Monitor and Control Mechanism
1.2.2 Process Automation
1.2.3 Energy Efficiency Mechanism
1.2.4 Asset Remote Control
2 Market Dynamics
2.1 Market Drivers
2.1.1 Demand for Operational Efficiency to Fulfil Energy Requirement
2.1.2 Rising Cyber Attacks
2.1.3 Increasing Demand for Decentralized Power Generation
2.2 Market Restraints
2.2.1 Lack of Communication Infrastructure
2.2.2 Privacy and Security Risk
2.3 Market Opportunities
2.3.1 Introduction of Next Generation Sensors in the Energy Sector
2.3.2 Growth Opportunities in IoT Analytics Market
2.3.3 Increasing Necessity for Smart Grids
3 Competitive Landscape
3.1 Key Market Developments and Strategies
3.1.1 Partnerships, Collaborations, and Joint Ventures
3.1.2 New Product Launches and Developments
3.1.3 Mergers and Acquisitions
3.1.4 Business Expansions and Contracts
3.1.5 Others (Awards and Recognitions)
3.2 Market Share Analysis
3.2.1 Market Share Analysis of IT Solution Providers on the Internet of Energy
3.2.2 Player Share Analysis: Energy Management and Automation Companies on the Internet of Energy Market
4 Industry Analysis
4.1 Emerging Trends on the Internet of Energy Market
4.1.1 Growing Role of Big Data Analytics in the Power Industry
4.1.2 Advent of Artificial Intelligence in the Energy Sector
4.1.3 Securing the Energy Value Chain with Blockchain Technology
4.1.4 Market Consolidation
4.2 Stakeholder Analysis
4.2.1 Power Utilities
4.2.2 Oil & Gas Companies
4.2.3 IT Solution Providers
4.2.4 Energy Management and Automation Companies
4.2.5 End Users (Industrial, Commercial, and Residential)
4.3 Investment and Funding Landscape
4.4 Regulatory Bodies/Acts
4.6 Privacy Laws Across Different Countries
5 Global Internet of Energy Market (by Industry Stream)
5.1 Assumptions and Limitations for Analysis and Forecast of the Global Internet of Energy Market
5.2 Oil & Gas: Market Overview
5.3 Power: Market Overview
6 Global Internet of Energy Market (by Application)
6.1 Oil & Gas Industry: Market Overview
6.1.1 Fleet and Asset Management
6.1.2 Preventive Maintenance
6.1.3 Pipeline Monitoring
6.1.4 Security Management
6.2 Power Industry: Market Overview
6.2.1 Energy Management
6.2.2 Asset and Equipment Monitoring
6.2.3 Field Surveillance
7 Global Internet of Energy Market (by Region)
7.1 North America
7.4 Rest-of-the-World (RoW)
8 Company Profiles
8.1 CISCO Systems Inc.
8.1.1 Company Overview
8.1.2 Role of Cisco Systems on the Internet of Energy Market
8.1.4 SWOT Analysis
8.2 C3 IoT Inc.
8.3 HCL Technologies Ltd.
8.4 Huawei Technologies Co. Ltd.
8.5 International Business Machines Corporation (IBM)
8.6 Intel Corporation
8.7 Kellton Tech Solutions Ltd.
8.8 Microsoft Corporation
8.9 Telit Communications PLC
8.10 ABB Ltd.
8.11 General Electric
8.12 Honeywell International Inc.
8.13 Ingersoll Rand PLC
8.14 Rockwell Automation Inc.
8.15 Siemens AG
8.16 Schneider Electric
8.17 Equinor ASA
8.18 Royal Dutch Shell PLC
8.19 Schlumberger Limited
8.20 Actility S.A.
8.21 Enel X North America Inc.
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