Internet of Things (IoT) in Utility Market: By Growth Factor, Trends, and Top Key Vendors Like Cisco Systems Inc., Comcast Corporation., Ericsson During Forecast to 2023
IoT is changing industry business models, and the utility industry is investing in IoT technology to transform its operations and enhance customer experience. The utility industry is mostly governed by government policy and the need to comply with regulations. It is also driven by concerns about cost savings. IoT in utilities market is majorly driven by the rising adoption of smart meters. Smart meters provide real-time information about energy transmission and consumption.
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