IoT in Energy Market to Hit $145.8 Billion by 2033 as CAGR Reaches 18.9%
Updated
Updated · openPR · Jun 29
IoT in Energy Market to Hit $145.8 Billion by 2033 as CAGR Reaches 18.9%
1 articles · Updated · openPR · Jun 29
Summary
$145.8 billion is the projected size of the IoT in energy market by 2033, up from $32.4 billion in 2024, according to a Verified Market Reports study.
18.9% annual growth is being driven by grid digitalization, decarbonization mandates and wider renewable-energy deployment, as utilities use IoT to improve visibility, cut downtime and optimize distribution.
Smart grid solutions currently lead the market, while energy management systems are the fastest-growing segment; key applications include smart meters, predictive maintenance and demand-response systems.
The United States holds more than 42% of the market, supported by advanced grid infrastructure and policy backing, while Europe and Asia-Pacific are also drawing investment.
AI-driven analytics, grid-edge technologies and distributed energy resource management are highlighted as the most attractive investment areas, with M&A and utility-tech partnerships accelerating.