WAVIoT was named as one of the key innovators in IoT Products & Services and Development
MarketsAndMarkets — February 2016
MarketsandMarkets has released a Global Forecast to 2024 in the field of Internet of Things (IoT) and Utility Market.
MarketsandMarkets names WAVIoT as one of the key innovators identified for the IoT in the utility market. Well deserved. A lot of interest and projects coming from all around the world. We really enjoy being a true best-in-class connectivity platform for IoT applications universe.
According to the report, the global Internet of Things (IoT) in utilities market size expected to grow from USD 28.6 billion in 2019 to USD 53.8 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 13.5% during the forecast period. The advent of IoT in utilities is expected to reduce challenges faced by the utility sector and help evolve it. The application of IoT in utilities will improve efficiency, generate revenue, and conserve enterprise resources. IoT sensors can optimize energy and water generation and distribution to help utility providers keep up with the increasing demand of utilities, such as water, gas, and electricity from consumers. Additionally, IoT sensors can improve workplace safety for oil and gas workers.