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The Internet of Things (IoT) in Energy Market is expected to reach a value of USD 68.90 billion by 2031, with a CAGR of 11.8% during the forecast period. The use of IoT in energy management systems allows for efficient tracking and control of power consumption and production. The market is driven by technological advancements such as sensor miniaturization and data analytics, as well as the integration of IoT with renewable energy sources for sustainability. Companies with comprehensive IoT solutions have a competitive advantage in terms of energy optimization and cost savings.
