GSMA sets up $26bn IoT plan for European energy market
Mobile IoT markets will benefit from Europe’s connected energy market, says GSMA
The GSMA today announced that mobile operators deploying new mobile internet of things (IoT) networks will be able to benefit from the European connected energy market estimated to be worth $26 billion by 2026.
Data shared by analyst house Machina Research highlights the huge growth opportunity in the emerging connected energy market that could connect approximately 158 million new smart meters on LPWA networks across Europe. The total number of connections in Europe could be further increased if the 60 million cellular connections are also included with LPWA.
“The internet of things is fundamentally disrupting the smart utility market by providing ubiquitous connectivity and real-time, actionable data,” said Alex Sinclair, the GSMA’s chief technology officer. “Mobile IoT networks will take this further by offering energy providers a cost-effective solution to connect millions of smart meters.”
Sinclair added: “There is a real sense of momentum behind the roll-out of Mobile IoT networks with multiple global launches, however, there is still a huge runway for growth. We encourage operators to act now to capitalise on this clear market opportunity and further accelerate the development of the IoT.”
The current connected energy market, which includes applications related to the generation and transportation of energy, microgeneration, smart grid and distribution monitoring and smart metering, is worth an estimated $11.7 billion.
The European connected energy market represents approximately 21% of all global revenues, with APAC claiming 54% and the Americas 21%.
The European Commission recently published a proposal indicating that approximately 200 million electricity smart meters and 45 million gas meters will be rolled out by 2020. The Commission also estimates that by 2020, approximately 72%of Europeans customers will have a smart meter for electricity and about 40% for gas.