The IoT In Utilities Market forecasts suggest a transformative period for the utilities sector, with unprecedented growth projected over the next decade. MRFR analysis states that the IoT In Utilities Market was valued at USD 118.35 Billion in 2024 and is expected to grow from USD 137.95 Billion in 2025 to USD 638.7 Billion by 2035, reflecting a CAGR of 16.56% during 2025–2035. This robust growth is fueled by the adoption of smart grids, predictive maintenance systems, and digital utility solutions across electricity, water, and gas sectors.
The forecast indicates that utility providers are increasingly deploying IoT-enabled sensors, advanced metering infrastructure, and AI-driven analytics platforms to optimize operations and enhance efficiency. These technologies allow for real-time monitoring of critical assets, energy consumption, and resource allocation.
Regional forecasts highlight North America and Europe as leaders in IoT adoption due to developed infrastructure and regulatory support. Meanwhile, Asia-Pacific is expected to witness the fastest growth due to rising urbanization, industrial expansion, and investments in smart city initiatives.
Technological innovations such as 5G networks, edge computing, and cloud-based platforms are further driving the adoption of IoT solutions. The forecasts also underscore the importance of cybersecurity solutions, as the rise of connected utilities increases vulnerability to cyber threats.
The IoT In Utilities Market reflect not only the financial growth but also the strategic importance of digital transformation in utilities. Market players that focus on innovation, regulatory compliance, and sustainable solutions are expected to secure a competitive advantage in the coming years.
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