Green Energy Tech

Digital Transformation Potential in Green Energy Tech

The Green Energy Tech sector is subject to a confluence of dynamics, each driving significant change. On the one hand, the design approach for electricity grids must evolve from a historical focus on ensuring that power generation matches power consumption to an approach that aims to make demand track supply fluctuations so that renewable energy sources can be efficiently integrated into the grid. Meanwhile, end-user demand for electricity is increasing due to the adoption of electric vehicles and trends away from burning hydrocarbons to provide heat. In this context, digital transformation of energy systems is a critical need.

Eight key domains of change in Green Energy Tech

Overall, we have identified eight key domains of change in the Green Energy Tech sector that are enabled by digital transformation, as illustrated below.

These domains of change are discussed in more detail in our report Digital Transformation in Green Energy Tech:

The domains of change discussed in the report comprise:

Smart Electricity Meters refer to devices that measure and record electricity usage in near real-time, providing accurate data for efficient energy management.
Smart Grids defined as all aspects of grid operations using technology (except smart metering – as it is separately considered), more specifically it includes management of generation (power grids) and transmission & distribution (T&D) networks.
Microgeneration covers small-scale power generation (typically through wind turbines and solar panels) by businesses, communities, and individuals instead of using traditional grid-sourced power.
Energy Storage refers to the use of technologies that facilitate monitoring and tracking of energy storage devices including batteries contained in household devices to grid-scale energy storage, and the integration of these into grid operations.
Electric Vehicle Charging refers to the use of technology to enable EV power consumption and potentially for EVs to become energy storage options.
Microgrids and Virtual Power Plants refers to the use of technologies that control and manage campus microgrids (and virtual power plants) to optimise their performance and enhance resilience and stability.
Digital Design and Planning includes the use of digital twins for modelling, forecasting, and testing to achieve optimal performance of grids.
Energy Trading refers to the use of technology (particularly Distributed Ledger, or blockchain, and Artificial Intelligence) to facilitate energy trading, especially peer-to-peer (P2P) trading that allows consumers (businesses, individuals, communities) and operators to buy and sell electricity to each other.

Collectively, the activities listed above will bring significant changes to the Green Energy Tech sector.

IoT and Green Energy Tech

IoT is one of the key technology groups impacting the Green Energy Tech sector and further detail and analysis of key IoT applications for the Green Energy Tech sector can be found in Transforma Insight’s Forecast Insight Reports. Some of these applications are directly relevant to the sector, whilst others are only indirectly related.

Directly related IoT applications and Forecast Insight Reports include:

Electric Vehicle Charging – Public electric vehicle charging points with a connection to monitor availability, usage, maintenance requirements, and facilitate payment. Does not include vehicle chargers installed on private property.
Grid Operations – The remote monitoring of the gas, water, sewage and electricity grids for maintenance, diagnostics, fault discovery and loss reduction purposes. High pressure gas distribution pipelines are counted as part of the Infrastructure Monitoring Application Group.
Electricity Smart Meters – Device that records the consumption and, where relevant, generation of electricity at a location and transmits this usage data to providers. In some instances these devices will transmit usage data to users in order to encourage more energy efficient behaviour. This application includes smart meters in both residential and commercial settings.
Generation – Remote monitoring and actuation of machinery within a power plant. Covers the operation of thermal power plants in addition to alternative sources, such as solar arrays, wind turbines, barrages, and hydro-electric dams.This Application Group also includes micro-generation power sources, such as might be installed in domestic or campus-industrial contexts. Specific applications include smart and connected solar, wind, ground source, and cogeneration installations.
Connected Batteries – This Application Group includes non-automotive batteries of all sizes and use cases equipped with connectivity, from batteries contained in household devices to grid-scale energy storage. A connection typically allows for the remote monitoring of remaining capacity, temperature, and performance. Portable batteries may make use of location tracking. In some cases, the onboard connection can be used to communicate with smart meters and other grid infrastructure to enable features such as load balancing. This Application Group includes both disposable and rechargeable batteries.
Public Space Lighting – The monitoring, control and management of smart lighting for streets and other public spaces, typically provided by local government or utilities.

Indirectly related IoT applications and Forecast Insight Reports include:

Global AIoT Forecast, 2023-2033
Crop and Aquaculture Management
Autonomous Road Passenger Vehicles – Automated Road Passenger Vehicles contains autonomous vehicles primarily used to transport passengers on the road, this Application Group includes buses, coaches, minivans, as well as private vehicles. To be counted as part of this Application Group vehicles must be capable of operating at Level 3 of the SAE levels of autonomy. This level of automation requires the vehicle to monitor the environment and requires “the driving mode-specific performance by an automated driving system of all aspects of the dynamic driving task.” In this Application Group the number of autonomous vehicles is represented by RGUs only, the vehicles’ connections will be found in the Vehicle Head Unit Application Group.
Road Fleet Management – Road Fleet Management covers in-vehicle transportation logistics including job allocation, vehicle tracking, vehicle and driver monitoring, maintenance planning, safety compliance, fuel management, and incident management. It can be delivered as a service via a dedicated aftermarket device or through the factory-fit connectivity (accessed via the vehicle head unit). The forecast takes both heavy and light duty vehicles into consideration. It includes devices deployed in cars, vans, trucks and buses, along with heavy vehicles such as tractors, combine harvesters, pile drivers, tunnelling machines, cranes, and other off-road equipment. Fleet Management solutions are increasingly making use of in-vehicle cameras to monitor both outside the vehicle and within the cabin. These devices, and their consumer counterparts, can be found in the Dash Cams Application Group.
Building Automation – Including controllers and peripheral devices (monitoring devices, controlled devices, or actuators) to support smart building functionality in either a consumer or enterprise (cross vertical) context. This Application Group does not include security alarms, fire control systems, or lighting systems.
Gas Smart Meters – Device that records the consumption of natural gas at a location and transmits this usage data to providers. In some instances these devices will transmit usage data to users in order to encourage more energy efficient behaviour. This application includes smart meters in both residential and commercial settings.
Water Smart Meters – Device that records the consumption of water at a location and transmits this usage data to providers. In some instances these devices will transmit usage data to users in order to encourage more water efficient behaviour. This application includes smart meters in both residential and commercial settings.
Global IoT Forecast Report, 2023-2033
Road Public Transport – Connections to buses, specifically related to their role as public transport vehicles, such as the provision of on-board connectivity. Covers urban and inter-city vehicles including private hire coaches and school buses. Excludes infrastructure such as bus stations.
Bike & Scooter Sharing – Bike & Scooter Sharing covers tracking and monitoring devices embedded in locks, bicycles, scooters and their associated docking stations. These devices may allow customers to access the nearest available vehicle, prevent theft, or enable the collection, redistribution and recharging of vehicles.

Digital Transformation in Green Energy Tech

REPORT | FEB 23, 2024 | Suruchi Dhingra

This report examines digital transformation in the Green Energy Tech area as enabled by the key technology groups that are the focus of Transforma Insights’ research, including Artificial Intelligence, Distributed Ledger and Internet of Things. It identifies 8 key 'Domains of Change' in the energy sector, each of which is examined in detail.

Related Reports

All Reports

Electric Vehicle Charging: 449 million connections in 2033, generating USD13 billion in revenue

REPORT | SEP 19, 2024 | Rohan Bansal ; Matt Arnott

This report provides Transforma Insights’ view on the connected EV Charging market. This segment is comprised of public and private EV chargers, including those installed at all kinds of commercial and residential establishments. Drivers are quickly switching from traditional fuel-powered vehicles to hybrids and EVs. Governments around the globe are playing a key role in aiding this switch by providing incentives to drivers for switching to EVs. The growing demand for EVs has led to the need for sufficient charging infrastructure to be in place to charge these EVs. Chargers are also increasingly being connected. Typically, this is to provide drivers with remote functionalities to decide the time and charge amount of their vehicles in the case of private chargers and allow remote monitoring and maintenance or dynamic pricing for public chargers. The report provides a detailed definition of the sector, analysis of market development and profiles of the key vendors in the space. It also provides a summary of the status of adoption and Transforma Insights’ ten-year forecasts for the market. The forecasts include analysis of the number of IoT connections by geography, the technologies used (including splits by 2G, 3G, 4G, 5G, LPWA, short range, satellite, and others), as well as the revenue split between module, value-added connectivity, and services. A full set of forecast data, including country-level forecasts, sector breakdowns and public/private network splits, is available through the IoT Forecast tool.

Grid Operations: 151 million connected devices in 2033 across electricity, gas, and water

REPORT | SEP 18, 2024 | Rohan Bansal ; Matt Arnott ; Nikita Singh

This report provides Transforma Insights’ view on the use of IoT in the management and operation of smart grids. This comprises electricity, gas, water, and sewage infrastructure. The transition from traditional to smart grid operations is a significant IoT initiative transforming the supply of all three utilities (water, electricity, and gas) worldwide. In 2033, there will be 151 million grid operation devices. This report examines the reasons behind the increasing adoption of smart grids, modernisation of traditional grids, and automation of distribution systems, substations, and power regulation stations. The report also assesses the management of infrastructure, use cases, and example deployments by vendors across the three utilities. Electricity smart grid monitoring is vital for the successful implementation of load balancing and microgeneration. Electricity grids will also leverage predictive analytics and big data to prevent energy losses in the system. Climate change, increasing demand for electricity, and use of alternative energy sources (such as renewables) are the key reasons driving smart electricity grid operations. In contrast, the use of IoT monitoring and management in smart water grids is less developed. However, it is crucial as it deals with multiple issues related to water scarcity, losses, droughts, floods, and reduced water security. Gas smart grids are crucial in reducing carbon emissions, improving energy independence, and detecting gas leakages and faults. These grids also promote the use of more sustainable alternatives such as biogas, biomethane, and hydrogen. The report provides a detailed definition of the sector, analysis of market development, and profiles of the key vendors in the space. It also provides a summary of the current status of adoption and Transforma Insights’ ten-year forecasts for the market. The forecasts include analysis of the number of IoT connections by geography, the technologies used (including splits by 2G, 3G, 4G, 5G, LPWA, short range, satellite and others), as well as the revenue split between module, value-added connectivity and services. A full set of forecast data, including country-level forecasts, sector break-downs and public/private network splits, is available through the IoT Forecast tool.

Electricity Smart Meters: Government policies and sustainability initiatives will drive 2.1 billion connections in 2033

REPORT | AUG 14, 2024 | Nikita Singh ; Matt Arnott

This report provides Transforma Insights’ view on the Electricity Smart Meter IoT market found in the Transforma Insights Connected Things TAM forecast. The transition from traditional electricity meters to smart meters is one of the biggest IoT initiatives worldwide. By 2033, there will be 2.1 billion electricity smart meter connections. This report examines the reasons for the increase in installations, including reducing energy consumption, a desire to reduce electricity thefts, enhancing load balancing capabilities, and growth in the use of renewable energy sources. Reducing dependence on nuclear energy and the greater demand for EV charging are likely to increase the use of renewables for energy and further drive the adoption of smart electricity meters. It also provides a detailed assessment of the progress of rollouts and the various communication technologies used across major geographies for these meters. Electricity smart meter rollout is a government-led initiative and with the installation of meters, consumers are provided added benefits such as subsidies on their electricity bill or refunds on using limited electricity during peak hours. Most of these rollouts supported by government regulations focus on providing incentives for deployment. The report provides a detailed definition of the sector, analysis of market development and profiles of the key vendors in the space. It also provides a summary of the current status of adoption and Transforma Insights’ ten-year forecasts for the market. The forecasts include analysis of the number of IoT connections by geography, the technologies used (including splits by 2G, 3G, 4G, 5G, LPWA, short range, satellite and others), as well as the revenue split between module, value-added connectivity and services. A full set of forecast data, including country-level forecasts, sector break-downs and public/private network splits, is available through the TAM Forecast tool.

Generation: Mature power generation contrasts with high-growth micro-generation opportunities

REPORT | JUN 06, 2024 | Matt Arnott ; Rohan Bansal

This report provides Transforma Insights’ view on the Generation market. This segment comprises Power Generation and Microgeneration. Climate change is a major cause of concern as temperatures across the world are rising rapidly causing a series of natural disasters impacting human lives adversely. The need for sustainable sources of energy has grown to help countries achieve their sustainability targets. This has led to high adoption of clean energy production and a growth in these energy-producing facilities. The adoption of clean energy technology solutions will also increase the use of IoT to properly manage them throughout their life. Sensors functioning on a range of long and short-range technologies will be deployed on energy-producing equipment to gain insights into their proper utilisation and function. These solutions will ensure that devices are working at their optimal capacity at all times and provide timely alerts around any maintenance needs to ensure that downtime is reduced. The report provides a detailed definition of the sector, analysis of market development and profiles of the key vendors in the space. It also provides a summary of the current status of adoption and Transforma Insights’ ten-year forecasts for the market. The forecasts include analysis of the number of IoT connections by geography, the technologies used (including splits by 2G, 3G, 4G, 5G, LPWA, short range, satellite, and others), as well as the revenue split between module, value-added connectivity, and services. A full set of forecast data, including country-level forecasts, sector break-downs and public/private network splits, is available through the IoT Forecast tool.

Video analytics as a substitute for IoT devices

REPORT | FEB 20, 2024 | Paras Sharma

The use of video monitoring solutions has unlocked significant improvements, from round-the-clock surveillance for security purposes to object detection, gesture detection, facial recognition, and motion tracking across industries to gain real-time business insights and prescriptive analysis. Using video analytics, businesses can unlock greater value by analysing spatial and temporal information, provide instant alerts in the event of anomaly detection, and take actions when rules are flouted. Business opportunities, deployment challenges, and stakeholder complexities vary across each application. The demand for video analysis is primarily driven by the benefits that it can bring like better operational efficiency, enhanced public safety, and decreased manual work. There is a wide range of applications that can make use of some or all of these business benefits to gain a competitive advantage and provide a quality service or product to the end-user. There are 23 applications, around 7% of the total applications found in our IoT forecast database, for which video analysis can potentially substitute for IoT devices. Livestock Monitoring, Traffic Monitoring, Parking Space Monitoring, Fire and Security Alarms, Patient Tracking, and Trigger devices are some of the key IoT applications which can be substituted with video analysis. As per our analysis, Security Alarms, Stock Level Monitoring, In-Vehicle Road Pricing Devices, and Fire Alarms are the top applications in terms of connected devices that can potentially be replaced by video analysis. The number of IoT devices for the above-mentioned applications is expected to grow from around 0.9 billion in 2022 to around 2.4 billion by 2032. Even though the share of IoT devices that can be replaced by video analytics is expected to be less than 10% during the forecast period, we cannot neglect the potential of video analysis due to its business benefits and varied use cases across applications. Additionally, in cases where video analytics can substitute for LPWA connections, this substitution may represent an upsell opportunity for mobile network operators and an opportunity to deploy a higher bandwidth connection.

Video analysis has significant potential with business benefits spanning across multiple industries

REPORT | FEB 19, 2024 | Paras Sharma

Video surveillance solutions have been in the market for a while, although they have been primarily used for safety and security. However, advances in digital technology, coupled with the rise of AI and edge analytics are expanding the application of video-based solutions across various industries, contexts and use cases. This evolution positions video analysis as a transformative technology in many scenarios. The demand for video analysis is growing as it proves beneficial in remote maintenance, operational optimisation, and improving public safety surveillance. The integration of AI-equipped cameras for object detection and behaviour analysis extends their utility across multiple industries. In this Key Topic Insight report, we explore why video analysis is needed and demonstrates how edge AI can benefit businesses by overcoming some of the challenges associated with cloud-based video analysis. The report also lists a range of use cases for video analysis across various industries, talks about some relevant case studies where video analysis has been deployed, and lists some of the major vendors and their roles in the ecosystem.

Connected Batteries: 183 million battery devices driven by falling costs and growth in renewable energy

REPORT | OCT 23, 2023 | Nikita Singh ; Matt Arnott

This report summarises the Transforma Insights view on the ‘Connected Batteries’ IoT market found in the Transforma Insights Connected Things IoT forecast. The report covers details on the evolution of battery technology, beginning with traditional batteries with no communication technologies, up to current batteries with built-in connectivity. It covers different sizes of batteries, from large, grid scale batteries to small portable batteries. Mostly concentrated in developed regions such as North America and Europe, the market for batteries is typically triggered by the local electricity utility provider in the case of grid and microgrid, and consumers in the case of in-building and portable batteries. The report also describes the reasons for the increasing adoption of batteries such as increasing usage and cost of electricity, focus on renewable energy sources, as well as the war between Russia and Ukraine, and the resulting impact on natural gas use in European countries. The report provides a detailed definition of the sector, analysis of market development and profiles of the key vendors in the space. It also provides a summary of the current status of adoption and Transforma Insights’ ten-year forecasts for the market. The forecasts include analysis of the number of IoT connections by geography, the technologies used (including splits by 2G, 3G, 4G, 5G, LPWA, short range, satellite and others), as well as the revenue split between module, value-added connectivity and services. A full set of forecast data, including country-level forecasts, sector break-downs and public/private network splits, is available through the IoT Forecast tool.

Public Space Lighting: 133 million connections in 2032, helping to reduce costs and energy consumption

REPORT | MAR 21, 2023 | Rohan Bansal ; Matt Arnott

This report provides Transforma Insights’ view on the public space lighting market. This segment includes the monitoring, control, and management of lighting for streets and other public spaces, typically provided by local government or utilities.

Digital Transformation Implementation Best Practice Report

REPORT | APR 15, 2020 | Jim Morrish ; Matt Hatton

This report is based on analysis by Transforma Insights of hundreds of Digital Transformation implementations around the world. Our team of expert analysts assessed each implementation and calibrated it against our 216 solution characteristics. The aim is to better understand the prevailing trends in technology deployment and to extrapolate best practice.

Green Energy Tech

Sector Focus

Sector Focus

Digital Transformation Potential in Green Energy Tech

Eight key domains of change in Green Energy Tech

IoT and Green Energy Tech

Other content and related analysis

Sector Focus

Sector Report

Digital Transformation in Green Energy Tech

Related Reports

Electric Vehicle Charging: 449 million connections in 2033, generating USD13 billion in revenue

Grid Operations: 151 million connected devices in 2033 across electricity, gas, and water

Electricity Smart Meters: Government policies and sustainability initiatives will drive 2.1 billion connections in 2033

Generation: Mature power generation contrasts with high-growth micro-generation opportunities

Video analytics as a substitute for IoT devices

Video analysis has significant potential with business benefits spanning across multiple industries

Connected Batteries: 183 million battery devices driven by falling costs and growth in renewable energy

Public Space Lighting: 133 million connections in 2032, helping to reduce costs and energy consumption

Digital Transformation Implementation Best Practice Report