Omdia: Global IoT device shipments may maintain an annual growth rate of approximately 9%.

Omdia's article states that with the increasing social expectations and strict environmental regulations listed in the Environmental, Social and Governance (ESG) standards, sustainable development initiatives have evolved from cautious corporate initiatives to commercial demands. Omdia predicts that by 2024, the global shipment of IoT devices will reach 10.63 billion units, with significant growth expected in the commercial and industrial electronic devices, including energy and utilities, in the coming years. Furthermore, the global shipment of IoT devices is also expected to increase at an annual average growth rate of around 9% from 2024, reaching 12.69 billion units by 2026. According to Omdia, the adoption of alternative energy sources will further develop due to the reduced dependence on non-renewable energy sources, despite fossil fuels currently being relevant resources. As more companies recognize the importance of IoT applications, particularly in improving operational efficiency and achieving sustainability goals, there is an increase in the deployment of IoT devices in renewable energy sectors. By doing so, companies can more efficiently utilize real-time data to optimize resource allocation, automate processes, and make data-driven decisions. Omdia's perspective: Omdia believes that there are still significant opportunities in optimizing renewable energy systems, improving operational efficiency, supporting the transition from fossil fuels to sustainable energy by using IoT technology, and advancing other technologies such as artificial intelligence (AI) and machine learning (ML). Understanding concerns surrounding data security and privacy, and ensuring the implementation of data security measures to protect sensitive information and infrastructure from network threats are also crucial. The goal is to transition towards a more environmentally friendly and sustainable future by leveraging the capabilities of IoT systems and integrating relevant technologies into renewable energy systems. Recommendations: Omdia suggests that key players and potential investors in the renewable energy industry should not only aim to comply with ESG regulations but actively seek opportunities to utilize IoT for environmental sustainability. Realizing the full potential of IoT in the renewable energy sector requires collaborative efforts from all stakeholders. Governments can play a significant role by incentivizing IoT adoption, supporting research and development, and establishing clear regulatory frameworks. Industry recommendations include investing in IoT infrastructure and collaborating with technology providers to develop innovative solutions. Meanwhile, communities can contribute by participating in energy efficiency programs and supporting renewable energy initiatives, with the goal of driving significant progress towards a more sustainable future.