Internet of Energy Market Size, Share, By Industry Stream (Oil & Gas (Upstream, Midstream, and Downstream) and Power (Generation, Transmission, and Distribution), By Application (Oil & Gas Industry (Fleet and Asset Management, Preventive Maintenance, Pipeline Monitoring, and Security Management) Power Industry (Energy Management, Asset and Equipment Monitoring, Field Surveillance, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) – Market Trends, Analysis and Forecast till 2034

Internet of Energy Market Size was valued at US$ 139.5 in 2024 and is projected to grow at a CAGR of 18.3% to reach US$ 493.7 billion by 2034.

Internet of Energy Market is the technology-based solution. It is offered to various applications such as energy, healthcare, mining sector, oil & gas, and others. These solutions implement to boost operational efficiency along with intellectual data analysis and machines integration. It decreases the chances of vulnerabilities linked with the hacking of data by using efficient techniques and tools and resulting in improved decision-making. Internet of things helps energy industries to function proficiently on a real-time basis. Internet of things in energy also provides increased operational efficiency, optimization of the supply chain, diminishing the energy trading risk, and cost-cutting in productivity.

Internet of Energy Market Drivers:   

Rising demand for energy efficiency

• Consumers and businesses are increasingly looking for ways to reduce their energy consumption and costs. IoE technologies can help by providing real-time data on energy usage, enabling better management and optimization.
• Integration of renewable energy sources: The growth of solar, wind, and other renewable energy sources is creating challenges for traditional grids. IoE can help to integrate these variable sources into the grid more effectively, by providing better forecasting and control capabilities.
• Government regulations: Many governments are mandating or incentivizing the use of energy-efficient technologies. IoE solutions can help businesses and organizations comply with these regulations.

Advancements in technology

• The development of new sensors, communication protocols, and data analytics tools is making IoE solutions more affordable and effective.
• Growing public and business focus on environmental sustainability is indicative of a growing awareness of sustainability. IoE is a desirable option for companies and organizations trying to lessen their environmental effect since it can assist in lowering energy usage and greenhouse gas emissions.

Restrains in the Internet of Energy Market:

Security issues

• Cybercriminals have a bigger attack surface thanks to the extensive network of linked devices in the Internet of Everything (IoE).  Cyber-attacks and data breaches have the potential to impair business and compromise private data.
• Interoperability and standardization: Various Internet of Everything (IoE) devices and systems do not adhere to common communication protocols or data formats. Devices from different vendors may find it challenging to operate together harmoniously as a result.

High initial costs

• The cost of hardware, software, and system integration can all be high when implementing IoE solutions. For some companies and organizations, especially those in underdeveloped nations, this may be a hurdle.
• Ignorance: Not all people are aware of the advantages and possibilities of IoE.  To encourage broader usage, there is a need for greater knowledge and education.
• Privacy issues:  The Consumer privacy is at risk due to the gathering and processing of vast volumes of energy usage data.  To foster confidence in IoE solutions, it is imperative to guarantee data privacy and security.

Key Opportunities in Internet of Energy Market:

Integration with Emerging Technologies

• Smart Grid Infrastructure: Real-time monitoring, dynamic pricing, and enhanced grid stability will be made possible by modernizing conventional grids with smart meters, sensors, and communication networks. This opens doors for businesses offering software, hardware, and integration services for smart grids.

Distributed Energy Resources (DER) Management

• Distributed Energy Resources (DER) Management: Cutting-edge control and management systems are needed to incorporate renewable energy sources, such as wind and solar, into the grid. Businesses that specialize in DER management platforms and analytics might benefit from the optimization of DER operations provided by IoE solutions.

Demand-Side Management (DSM):

• Demand-Side Management (DSM): Internet of Everything (IoE) can enable users to take charge of their energy usage.  This creates opportunities for businesses offering energy management systems, smart home appliances, and tailored energy usage data.

Predictive maintenance

• Predictive maintenance: In power generating, transmission, and distribution networks, sensors and data analytics can forecast equipment problems. This lowers expenses and downtime by enabling proactive maintenance. Predictive maintenance providers will see increasing demand in the Internet of Everything.

Energy Efficiency Services

• Businesses and organizations can maximize their energy use with the assistance of IoE.  Businesses that provide building automation systems, energy audits, and data-driven suggestions for energy efficiency stand to gain from this.
• Strong cyber security solutions become increasingly important as the IoE ecosystem grows.  There will be a strong need for businesses that specialize in threat detection, data encryption, and secure communication protocols.

Internet of Energy Market is segmented based on based on by Industry Stream, By application and Region.

By Industry stream Insight

• Gas and Oil: The three streams of oil and gas—upstream, midstream, and downstream—are all affected by the application of IoE. The main applications are broken down as follows:
• Upstream: Remotely checking the flow, temperature, and pressure in pipelines and wells. Predictive maintenance to save downtime on drilling rigs and other equipment and enhanced safety thanks to real-time information on the whereabouts of workers and the surrounding environment.
• Midstream: Transportation and storage processes in pipelines are optimized. Pipeline leak detection and prevention. Enhanced planning and organization for the transportation of gas and oil products.
• Downstream: Monitoring refinery operations in real-time to raise productivity and enhance product quality. Predictive maintenance for equipment in refineries. Energy usage in refineries is optimized.
• Power: Production, Distribution, and Transmission, IoE is used by the power industry in generation, transmission, and distribution for a number of reasons:
• Generation: Adding renewable energy sources to the system, such as wind and solar power. Power plant monitoring and control in real time to boost dependability and efficiency. Equipment used in power generating that is maintained predictably. Programs for demand-side management that motivate users to use less energy during peak times.
• Transmission: Constantly scanning transmission lines for bottlenecks and disruptions. Transmission systems with dynamic control to increase stability and efficiency.
• Distribution: Real-time client energy usage monitoring via advanced metering infrastructure (AMI). Grid automation for enhanced resilience and self-healing. Optimizing the distribution system can help minimize energy losses.

By Application Insights

The Oil and Gas Sector

• Fleet and Asset Management: Track and optimize the performance of vehicles, rigs, and other mobile equipment. Lower operating expenses and increase utilization rates.
• Preventive maintenance involves anticipating equipment breakdowns before they happen by using sensors and data analytics. Cut maintenance expenses and downtime. By fixing probable equipment problems, you can increase safety.
• Pipeline Monitoring: Keep an eye out for leaks, variations in pressure, and any hazards in pipelines.
• Make it possible to find and fix leaks more quickly and precisely. Minimize the effects of pipeline leaks on the environment.
• Security Management: Manage security by keeping an eye on the outside safety of assets like as storage facilities, refineries, and pipelines. Find instances of illegal access and possible security lapses. Boost general security posture and lower the chance of sabotage or theft.

Power industry

• Energy Management: Get up-to-date information on how much energy is being used throughout the system. Optimize energy use and pinpoint places that may use more efficiency. Cut back on your environmental impact and energy expenses.
• Asset and Equipment Monitoring: Keep an eye on the functionality and state of the equipment used for distribution, transmission, and power generating. Anticipate and resolve possible equipment malfunctions before they cause disruptions to operations.
• Field surveillance. Monitoring remote power infrastructure such as wind farms and substations is known as field surveillance. Boost situational awareness to facilitate quicker problem-solving.
• Both worker safety and the requirement for manual inspections might be decreased.
• Other: Programs for demand-side management that let users modify how much energy they use during peak times. Grid integration of renewable energy sources, such as wind and solar power. Optimizing the smart grid to increase efficiency and dependability.

Internet of Energy Market Regional Insights:

On region the Internet of Energy Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

• North America: Because of its superior technology infrastructure, emphasis on integrating renewable energy, and government support for Internet of Everything efforts, North America now maintains the biggest market share.
• Europe: The adoption of IoE is driven by a strong focus on environmental sustainability and energy efficiency. Market expansion is further aided by the existence of significant technological firms and a favourable regulatory framework.
• Asia Pacific: The IoE market is being driven by the region's rapid economic growth, rising urbanization rates, and expanding investments in smart grid infrastructure. China is a key contributor because to its enormous energy sector.
• Latin America: Government initiatives supporting renewable energy sources and rising awareness of energy efficiency are driving the IoE market in this region. But obstacles like inadequate labour and infrastructure might impede development.
• Middle East & Africa: The need for effective energy solutions is being driven by the region's growing energy demand, which is a result of economic development and population increase. However, in certain places, political unrest and a lack of technology uptake may provide difficulties.

Internet of Energy Market Report Scope:

Attribute	Details
Market Size 2024	USD 139.5 Billion
Projected Market Size 2034	USD 643.5 Billion
CAGR Growth Rate	18.3%
Base year for estimation	2023
Forecast period	2024-2034
Market representation	Revenue in USD Billion & CAGR from 2024 to 2034
Market Segmentation	By Industry Stream- Oil & Gas and Power By Application- Oil & Gas Industry, Power Industry and others.
Regional scope	North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa
Report coverage	Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2024 to 2034. For the purpose of this study, has segmented the Internet of Energy Market report based By Industry Stream, By Application and Region:

Internet of Energy Market, By Industry Stream:

• Oil & Gas
• Power
• By Application- Oil & Gas Industry, Power Industry and others.

Internet of Energy Market, By Application:

• Oil & Gas Industry
• Power Industry
• Others

Internet of Energy Market, By Region:

• North America

• U.S.
• Canada

• Europe

• Germany
• UK
• France
• Russia
• Italy
• Rest of Europe

• Asia Pacific

• China
• India
• Japan
• South Korea
• Rest of Asia Pacific

• Latin America

• Brazil
• Mexico
• Rest of Latin America

• Middle East & Africa

• GCC
• Israel
• South Africa
• Rest of Middle East & Africa

The key players operating the target market includes, Schneider Electric, General Electric Company, Siemens AG, ABB Ltd., Rockwell Automation, Ingersoll Rand Plc, Microsoft Corporation, Honeywell International, Cisco Systems, IBM Corporation, Intel Corporation, Huawei Technologies, HCL Technologies, Telit Communications PLC.

• In July 2022 Crypto Quantique's QuarkLink chip-to-cloud IoT security technology was released with a post-quantum cryptography (QPC) edition. Crypto Quantique is an expert in IoT cybersecurity powered by quantum mechanics. It is claimed that the revised platform, in particular the chosen crucial encapsulation mechanism (KEM), CRYSTALS-Kyber, is the first to use post-quantum algorithms that the National Institute of Standards and Technology (NIST) has indicated will be standardized.
• In February 2022, AT&T and Nokia worked together to improve 5G uplink using distributed massive MIMO. This partnership seeks to retain downlink efficiency while enhancing uplink performance using the distributed massive MIMO technology. A massive distributed MIMO lab system prototype was set up and tested at AT&T Labs. Simulations predict that 5G uplink capacity will increase by 60–90%.

• Schneider Electric
• General Electric Company
• Siemens AG
• ABB Ltd.
• Rockwell Automation
• Ingersoll Rand Plc
• Microsoft Corporation
• Honeywell International
• Cisco Systems
• IBM Corporation
• Intel Corporation
• Huawei Technologies
• HCL Technologies
• Telit Communications PLC

“*” marked represents similar segmentation in other categories in the respective section

Research Objective and Assumption

• Preface
• Research Objectives
• Study Scope
• Years Considered for the study
• Assumptions
• Abbreviations

Research Methodology

• Research data
• Primary Data
  • Primary Interviews
  • Primary Breakdown
  • Key data from Primary Sources
  • Key Thickness Insights
• Secondary Data
  • Major Secondary Sources
  • Secondary Sources
• Market Estimation
• Top-Down Approach
  • Approach for estimating Market Share by Top-Down Analysis (Supply Side)
• Bottom-Up Approach
  • Approach for estimating market share by Bottom-up Analysis (Demand Side)
• Market Breakdown and Data Triangulation
• Research Assumptions

Market Preview

• Executive Summary
• Key Findings
  • Key Questions this Study Will Answer
  • Market Snippet, By Industry Stream
  • Market Snippet, By Application
  • Market Snippet, By Region
• Opportunity Map Analysis
• Executive Summary—3 Big Predictions

Market Dynamics, Regulations, and Trends Analysis

• Market Dynamics
  • Drivers
  • Restrains
  • Market Opportunities
  • Market Trends
• DR Impact Analysis
• PEST Analysis
• Porter’s Five Forces Analysis
• Opportunity Orbit
• Market Investment Feasibility Index
• Macroeconomic Factor Analysis

Market Segmentation, By Industry Stream, Forecast Period up to 10 Years, (US$ Bn)

• Overview
  • Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
  • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
  • Segment Trends
• Oil & gas
  • Overview
  • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• Power
  • Overview
  • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years

Market Segmentation, By Application, Forecast Period up to 10 Years, (US$ Bn)

• Overview
  • Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
  • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
  • Segment Trends
• Oil & Gas industry
  • Overview
  • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
• power industry
  • Overview
  • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years

Global Market, By Region, Forecast Period up to 10 Years, (US$ Bn)

• Overview
  • Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
  • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
  • Regional Trends
• North America
  • Market Size and Forecast (US$ Bn), By Industry Stream, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By Application, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
    • U.S.
    • Canada
• Europe
  • Market Size and Forecast (US$ Bn), By Industry Stream, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By Application, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
    • UK
    • France
    • Germany
    • Russia
    • Italy
    • Rest of Europe
• Asia Pacific
  • Market Size and Forecast (US$ Bn), By Industry Stream, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By Application, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
    • India
    • Japan
    • South Korea
    • China
    • Rest of Asia Pacific
• Latin America
  • Market Size and Forecast (US$ Bn), By Industry Stream, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By Application, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
    • Brazil
    • Mexico
    • Rest of Latin America

• Middle East & Africa
  • Market Size and Forecast (US$ Bn), By Industry Stream, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By Application, Forecast Period up to 10 Years
  • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
    • GCC
    • Israel
    • South Africa
    • Rest of Middle East

Competitive Landscape

• Heat Map Analysis
• Market Presence and Specificity Analysis

Company Profiles

• Schneider Electric
• General Electric Company
• Siemens AG
• ABB Ltd.
• Rockwell Automation
• Ingersoll Rand Plc
• Microsoft Corporation
• Honeywell International
• Cisco Systems
• IBM Corporation
• Intel Corporation
• Huawei Technologies
• HCL Technologies
• Telit Communications PLC

The Last Word

• Future Impact
• About Us
• Contact