Introduction

The “IoT in Energy” market encompasses the deployment of Internet-of-Things (IoT) devices, sensors, connectivity and data-analytics platforms across generation, transmission, distribution and consumption in the energy sector. According to Stratview Research, this IoT in Energy market is projected to grow from US $20.57 billion in 2021 to US $44.79 billion by 2028, at a CAGR of approximately 11.8% from 2022-2028.

Applications

IoT in energy finds applications across smart grids, asset monitoring in oil & gas, remote-metering/smart-metering, distribution loss reduction, renewable integration and consumer-side energy management. Stratview highlights that the oil & gas segment leads in application size, while smart-metering (consumer side) also ranks high in adoption.

Key Drivers

Several key drivers underpin this growth: the need to reduce transmission and distribution losses, growing regulatory pressure on energy efficiency and carbon emissions, widespread adoption of sensors and connectivity in utilities, and real-time data analytics enabling asset-health monitoring and outage prevention. Stratview emphasises that IoT solutions help improve operational efficiency, reduce downtime and enhance energy service reliability.

Future Opportunities

Looking ahead, opportunities abound around edge-analytics platforms for grid-edge monitoring, renewable-integration (solar, wind, storage), digitisation of utilities infrastructure, and demand-side management via connected consumer devices. Also, emerging markets—particularly in Asia Pacific—offer strong growth potential due to renewed investment in grids and smart-metering. Stratview notes that the Asia Pacific region holds the largest market size over the forecast period.

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Conclusion

The IoT in Energy market is entering a strong growth phase, offering utilities and energy players a pathway to smarter, more resilient, and more efficient operations. While challenges such as interoperability of legacy infrastructure, cybersecurity risks and the need for skilled analytics persist, the drivers—digitalisation, connectivity and energy-transition imperatives—provide a solid foundation. For organisations ready to adopt IoT-enabled energy strategies, the coming years promise meaningful opportunities.