IoT in energy market seen topping $46B by 2030

The Business Research Company says the IoT in energy market is set to surpass $46 billion by 2030, led by North America and driven by smart grid upgrades, renewable integration and AI-enabled energy management. The report also shows a fragmented market, with no single vendor controlling a large share.

Why it matters: - The IoT in energy market is moving from a niche technology spend to a core utility and industrial infrastructure category. - The segment is forecast to top $46 billion by 2030, making it a meaningful slice of the broader IoT services market and the wider IT market. - Growth is tied to grid modernization, renewable integration and the push for real-time energy management.

What happened: - The Business Research Company released its Internet of Things (IoT) in Energy Global Market Report 2026 – Market Size, Trends, And Forecast 2026-2035. - The report forecasts the IoT in energy market will exceed $46 billion by 2030. - The market is projected to grow at a 10% CAGR through 2030. - North America is expected to remain the largest regional market through 2030. - The United States is expected to lead North America.

The details: - The report says the IoT in energy market will account for about 7% of the broader IoT services market by 2030. - IoT services are projected to reach $646 billion by 2030. - The energy-focused IoT market is expected to represent nearly 0.3% of the $13,788 billion information technology market by 2030. - North America is forecast to grow from $10 billion in 2025 to $16 billion in 2030. - The United States is forecast to grow from $9 billion in 2025 to $14 billion in 2030. - The solutions segment is expected to be the largest component in 2030, at about 63% of the market or $29 billion. - Solutions growth is linked to integrated monitoring and control systems, remote asset management, AI-powered optimization tools and predictive analytics. - The market includes platforms and services in addition to solutions. - Technology categories include cellular networks, satellite networks, radio networks and other systems. - Application areas include energy generation, energy consumption and data security for databases and cloud platforms. - The report says the solutions, platforms and services segments together will add more than $18 billion between 2025 and 2030. - Solutions are expected to add about $11 billion, platforms about $4 billion and services about $3 billion.

Between the lines: - The report points to renewable integration and grid modernization as the biggest structural drivers. - Utilities need connected sensors, intelligent controls and digital communications to balance intermittent power sources and respond faster to disruptions. - Solar, wind and battery storage expansion is increasing the need for remote monitoring across dispersed assets. - Industrial energy users are also turning to connected systems to cut power use and improve efficiency. - The market remains fragmented, with the top 10 companies holding just 13% of revenue in 2025. - General Electric Company held the largest single share in 2025 at 2%. - Schneider Electric SE, Siemens AG and ABB Ltd. each held 2%. - Honeywell International Inc., Microsoft Corporation, Oracle Corporation, Eaton Corporation plc, Itron, Inc. and Landis+Gyr AG each held 1%.

What's next: - Utilities are likely to keep investing in smart grids, digital substations and real-time asset analytics. - AI-enabled demand flexibility tools and distributed energy resource management platforms should gain more traction. - Partnerships between grid software providers and energy technology vendors are likely to shape future competition. - The report expects companies to strengthen their positions through monitoring, edge computing and cloud-based management platforms. - TBRC says its 2026 reports now include market attractiveness scoring, TAM analysis, company scoring matrix graphics and tables, Excel dashboards, market hotspots infographics, key technologies and updated graphics and tables.

The bottom line: - IoT in energy is shifting from a future concept to a mainstream utility upgrade path, with smart grid resilience and renewable integration doing most of the growth work. - The market is large, growing and still open enough for multiple vendors to compete.