The global smart utilities management market is anticipated to grow at a CAGR of 18.5% during the forecast period (2023-2030). The growing focus of public and private organization on smart city development is propelling the demand for smart utilities management market. The government is focused on implementing smart services as a major part of its infrastructure development in both, developed and developing economies. In the US, deployment of IoT solutions plays a major role in government infrastructure accelerating the country’s growth. For instance, the federal government has implemented the concept of smart-building applications in order to reduce costs and promote smart services. The General Services Administration’s (GSA) Smart-Buildings initiative was started in May 2012 which modernized federal government buildings in large part through connected technologies in order to make them more energy-efficient. The project involved the installation of thousands of low-cost connected sensors into 50 of the government’s most energy-intensive buildings which can collect a minimum of 1,000 data points relating to energy use and operational efficiency per building. This initiative resulted in $15 million of annual savings as per GSA estimates.
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Emerging economies such as India and China are also implementing different IoT strategies for smart development of their economy. One of the major initiatives taken by the Indian government, the Smart City project has been playing a major role in in the market growth of smart gas meter. The country’s government has invested around $4.5 billion on smart cities development. The concept of a smart city is to develop an urban center where IT acts as a key driving factor comprising many technological platforms such as automated sensor networks, data centers and so forth. Additionally, the country’s government has partnered with various organizations such as NASSCOM, DEITY, TCS, Intel, Amazon Web Services and FORGE Accelerator. The technologies offered by these organizations are aimed to support government initiatives using IoT in different areas such as water, energy, safety, agriculture, crime, and health.
Market Coverage
• The market number available for – 2022-2030
• Base year- 2022
• Forecast period- 2023-2030
• Segment Covered-
o By Type
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- includes IBM Corp., Atos SE, Honeywell International Inc., ABB Ltd., and Siemens AG, among others.
Key questions addressed by the report
• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• Who is the leader in the market?
• How are players addressing challenges to sustain growth?
• Where is the investment opportunity?
Global Smart Utilities Management Market Report Segment
By Type
Global Smart Utilities Management Market Report Segment by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
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