The global power industry experienced a 50% drop in company filings mentions of internet of things in Q2 2023 compared with the previous quarter, with the highest share accounted for by Adani Transmission with 283% year-on-year increase, according to GlobalData’s analysis of over 171 power company filings. The growing application of Internet of Things will prove to have a transformative impact on the the power sector. GlobalData’s Internet of Things (IoT) Market Size, Share and Trends, Analysis and Forecast report helps keep abreast of the latest trends in Internet of Things, market opportunity forecast and the competitive landscape. Buy the report here.
Notably, internet of things was one of the most frequently referenced themes in Q2 2023, ranking highest in terms of mentions, ahead of future of work and quantum computing, according to GlobalData.
Of the top leading companies in the power industry, Adani Transmission had the greatest increase in references for internet of things in Q2 2023, compared with the previous quarter. GlobalData identified 23 internet of things-related sentences in the company's filings - 0.4% of all sentences - and an increase of 200% in Q2 2023 compared with Q2 2022. Tenaga Nasional’s mentions of internet of things rose by 100% to 16 and Enel’s by 100% to 15 and Power Assets’s by 100% to 14 and Xcel Energy’s by 100% to 14.
GlobalData’s Company Filings Analytics also applies sentiment weight to reference sentences, based on whether the sentences are positive, negative, or neutral. Starting at 100 in 2020, an index over 100 is more positive. The overall index for internet of things in Q2 2023 was 106.
To further understand GlobalData's analysis on Internet of Things (IoT) Market Size, Share and Trends Analysis by Region, Type (Enterprise, Consumer), Product (Hardware, Software and Services), Enterprise Size, Vertical (Government, Utilities, Manufacturing, Transport and Logistics and Others) and Se buy the report here.