A top Internet of Things device will help reduce energy use on a large scale

One of the primary benefits of Internet of Things (IoT) devices is their ability to collect data that will ultimately help increase efficiency and mitigate problems before they occur.

Now, power companies have begun to take advantage of smart meters, in particular, in order to directly connect with their customers and find out information about their power use. From there, the power company can allocate energy efficiently through a connected smart grid and encourage customers to monitor and reduce their own usage.

In a new report from BI Intelligence, we size the smart meter market globally and in regions and countries through the world. Additionally, we conduct a cost-benefit analysis looking at how much it will cost to install smart meters and weigh it against the monetary and non monetary benefits the devices can provide.

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Here are a few of the key findings from the BI Intelligence report:

In full, the report:

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