The Latin America, Middle East and Africa IoT in Energy Market would witness market growth of 26.3% CAGR during the forecast period (2022-2028).
Distribution grid systems that are typically built and managed for unidirectional power flow would experience multi-directional load flow, that would result in reactive power flow, voltage regulation, and extra technical losses, all of which might render the system unworkable. These problem-solving systems would need to be dispersed in nature and may need a large amount of resources. For this reason, companies must investigate solutions that utilize current assets more efficiently by integrating information technology into their management.
To minimize costly system expansion, it is crucial that distribution firms have had some control over and monitor PV generation, batteries, and EV charging stations, as well as help end users in their selections for all these systems. IoT creates new business prospects and introduces more advanced ideas. It combines gateway connectivity, sensor devices, and communication protocols to construct IoT infrastructure for numerous enterprises. Utilizing IoT technology may provide corporate advantages and provide smart strategies for increased production and expansion.
The United Arab Emirates (UAE) is one of the top 10 oil producers in the world. Approximately 96% of the country's approximately 100 billion barrels of known oil reserves are found in Abu Dhabi, which ranks sixth globally. The UAE produces 3.2 million barrels of petroleum & liquids per day, on average. The United Arab Emirates intends to expand unconventional oil and gas output.
The Brazil market dominated the LAMEA IoT in Energy Market by Country in 2021; thereby, achieving a market value of $8.1 billion by 2028. The Argentina market is poised to grow at a CAGR of 27% during (2022 - 2028). Additionally, The UAE market would exhibit a CAGR of 26% during (2022 - 2028).
Based on Application, the market is segmented into Oil & Gas, Smart Grid, Coal Mining and Others. Based on Network Technology, the market is segmented into Radio Network, Cellular Network and Satellite Network. Based on Component, the market is segmented into Solution and Services. Based on Organization Size, the market is segmented into Large Enterprises and SMEs. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global IoT in Energy Market is Predict to reach $357.4 Billion by 2028, at a CAGR of 19.7%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Accenture PLC, IBM Corporation, Cisco Systems, Inc., Hewlett-Packard Enterprise Company, Intel Corporation, SAP SE, Schneider Electric SE, Robert Bosch GmbH, Google LLC and HCL Technologies Ltd. (HCL Enterprises).
By Application
By Network Technology
By Component
By Organization Size
By Country
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