The utility industry is a heavy weight in the IoT. According to the analyst company IDC utility companies contributed a market share of 9,4% of the total IoT market in 2023. As energy costs continue to rise globally, there is a high interest of users, providers and legal institutions to drive smart metering projects to cut down costs for meter reading services but also enable new digital services. Additionally, new market developments around micro-generation, renewable energies, and smart cities drive innovations across the sector.
With 21%, unsurprisingly utility customers mark the biggest share of the 1NCE customer base that totals 15 000 so far. We support gas providers, water supply companies and electricity providers in Italy, South Korea, US, UK or Germany already today. In total we manage IoT projects for utilities in more than 37 countries worldwide.