Introduction
The global Internet of Things (IoT) in energy market is set to double in size from USD 20.57 billion in 2021 to USD 44.79 billion by 2028, according to Stratview Research. This IoT in energy market rapid growth is underpinned by energy stakeholders’ increasing need for data-driven operations, real-time monitoring, and smarter infrastructure to boost cost-efficiency and sustainability.

Key Features
IoT in energy integrates smart sensors, connected meters, and cloud-based platforms to collect, analyze, and act on energy data. These systems support predictive analytics, enabling utilities to forecast failures, optimize asset health, and prioritize maintenance. They also enable real-time visibility across distributed infrastructure, helping energy companies improve load balancing, minimize losses, and respond swiftly to outages.

Applications

• Smart Grids & Metering: IoT-enabled smart meters and grid sensors help balance supply-demand and detect faults.
• Asset Monitoring: Transformers, turbines, and substations benefit from condition monitoring to prevent downtime.
• Renewable Energy Management: Solar and wind installations use IoT to track generation, weather inputs, and storage performance.
• Building Energy Management: Connected HVAC, lighting, and energy control systems enhance efficiency in commercial and residential buildings.

Trends
Key trends in this space include the shift toward decentralized energy systems, such as microgrids, which rely on IoT for coordination and control. Also, edge computing is gaining ground, enabling faster insights at the device level. Another emerging trend is cybersecurity, as the growing digitization of energy infrastructure raises data protection challenges.

Opportunities

• Predictive Maintenance: Companies can leverage IoT data to reliably predict equipment failure and reduce repair costs.
• Energy Storage Optimization: IoT-managed battery systems can improve performance and lifespan by tailoring charge/discharge cycles.
• Decarbonization Efforts: Emissions monitoring, load forecasting, and demand response programs can be powered by IoT.
• Emerging Regions: Asia-Pacific and other fast-growing markets offer room for IoT-driven modernization of aging grids.

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Conclusion
The IoT in energy market is poised for strong expansion, driven by digital transformation in the utilities sector, renewable integration, and regulatory demands. Stratview Research’s forecast underscores the potential for companies that can deploy secure, scalable, and intelligent IoT platforms to lead the energy transition.