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This is the first edition of Ovum's IoT forecast for devices, connections, and service and connectivity revenues in the energy, utilities, and resources vertical. The forecast was developed in 1Q19. Data is provided for the years 2017 through 2023.

The forecast segments the market into three main types of IoT applications: smart meters (including electricity, gas and water meters); smart grids (including IoT devices and connections for all elements of the smart energy grid above the smart metering layer); and extractive industries (including IoT devices and connections for mining and quarrying; oil and gas exploration, extraction and distribution; and related areas).

Geographic segmentation is provided for 20 tier 1 country markets and eight global regions. Country-level forecasts are available for Australia, Brazil, China, Canada, France, Germany, India, Indonesia, Italy, Japan, Mexico, Nigeria, Russia, Saudi Arabia, South Africa, South Korea, Spain, Turkey, the UK, and the USA.

Connections (subscriptions) are segmented at country level by connectivity technology – cellular generation (2G, 3G, 4G, 5G), low-power wide-area connections (licensed spectrum and unlicensed spectrum), wireline, and other wireless connections (comprising mesh, short-range, etc.). Revenues are segmented by country and by application type.


Figure: Installed base of devices by application type – IoT energy, utilities, and resources


Installed base of devices by application type  IoT energy utilities and resources

Source: IoT Forecast: Energy, Utilities, and Resources, 2018–23


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About the author


Alexandra Rehak

Practice Head, Internet of Things
alexandra rehak

Alexandra specializes in

  • IoT
  • IoT Partnerships and Investment
  • Disruptive Digital Business Models
  • Service Provider Strategies

+ 24 years experience

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