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Asia-Pacific IoT Energy Market Demands, Growth Factors, Emerging Trends, Competitive Landscape and Forecast to 2025
Asia-Pacific IoT energy market is expected to witness a significant growth with the CAGR of approximately 20% during the forecast period. IoT has enabled the concept of smartness in every from the grid to the city. The insight derived from data collected from connected devices can enhance productivity and efficiency as well as they can improve real-time decision making. It can also be used to develop new services, solve critical problems and create innovative experiences. Various numbers of advances in M2M/ IoT technology has been a part of energy sector such as initiated energy-efficient innovations driven by Big Data analytics as well as M2M/ IoT Application Platforms. Smart meters based on the energy-saving IoT played are widely used globally.
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Some of the major players operating in the Asia-Pacific IoT energy market include IBM Corp., Intel Corp., Gemalto NV, HCL Technologies and others.
Additionally, IoT based M2M solutions enable interaction, resource sharing and interoperability between different domains. IoT technology addresses focuses on energy grids and smart Grids and its key issues such as failure in distribution network, grid security, line losses, and overloading. Depletion of energy resources day by day, global focus has been shifting in order to conserve energy and green energy usage with the deployment of IoT solutions. These applications enable power utilities to control assets from a random geographical location at any time. Additionally, IoT technology offers sophisticated solutions for renewable energy sector and its key issues such as renewable energy installations, fault management, plant monitoring, and performance monitoring.
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Asia-Pacific IoT energy market is segmented on the basis of solution type and end-user. Based on the solution type, the market is segmented into asset maintenance, connected logistics, monitoring and management, iot analytics, and others. Based on the end-user, the market is segmented into oil and gas, mining, wind, solar, and others.
Asia-Pacific IoT Energy Market Segmentation
Asia-Pacific IoT Energy Market by Solution Type
- Asset Maintenance
- Connected Logistics
- Monitoring and Management
- IoT Analytics
Asia-Pacific IoT Energy Market by End-User
- Oil and Gas
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