Residential Energy Management Market Forecasts to 2028 – Global Analysis By Communication Technology (Wired and Wireless), Hardware, Product Type, Platform, Application and By Geography
According to Stratistics MRC, the Global Residential Energy Management Market is accounted for $2.20 billion in 2020 and is expected to reach $6.87 billion by 2028 growing at a CAGR of 15.3% during the forecast period. Government plans and policies toward energy effectiveness in residential buildings and increasing energy expenditure in residential sectors of non-OCED and OCED nations are the major factors propelling the market growth. However, high initial costs related to deploying residential energy management systems are hampering the market growth.
Residential energy management solutions are cost-efficient and the latest technology solutions are considered to provide the command of decrease in energy consumption by residential customers. Residential energy management solutions measure the energy consumption of a home’s heating and individual appliances to uncover trends in electricity utilization and operate devices to get maximum savings.
Based on the communication technology, the wired segment is estimated to have a huge demand during the forecast period. Wired communication technology broadcasts large volumes of data, analyzes the data, and offers actionable information for grid operators. The growth of this wired communication technology segment is attributed to its increased security, lack of interference, and high speed.
By geography, North America is going to have a lucrative growth during the forecast period. The command for residential energy management in this region is determined by rising investments in grid expansion projects to raise energy efficiency, grid reliability, and improved power consumption residential sector.
Some of the key players profiled in the Residential Energy Management Market include Aclara Technologies, Alertme.Com, Carrier, Comverge, EcoFactor, Elster Group, General Electric, Itron, Landis+Gyr, Opower, Schneider Electric, Silver Spring Networks, Tendril Networks, Danaher Corporation, Celestron LLC, Leica Microsystems, Carl Zeiss AG, Nikon Corporation, Keyence Corporation, Jeol, Ltd., Hirox Corporation, Olympus Corporation, and Tagarno A/S.
Estimated Market Size in 2020:
USD 2.20 billion
Compound Annual Growth Rate (CAGR) from 2020 to 2028:
Predicted 2028 Value:
Tables, Graphs& Figures
Communication Technology, Hardware, Product Type, Platform, Application and Region
Core Drivers and Opportunities:
Restraining Factors & Market Threats:
Communication Technologies Covered:
• Control Devices
• Demand Response (DR) Devices
• In-House Displays (IHD)
• Load Control Switches (LCS)
• Remote Terminal Units
• Heating and Air-Conditioning (HVAC) Control Devices
• Display Devices
• Smart Meters
• Smart Appliances
• Smart Thermostats
• Smart Plugs
Product Types Covered:
• Desktop Digital Microscope
• Portable Digital Microscope
• Wireless digital microscope
• Energy Analytics
• Energy Management Platform (EMP)
• Customer Engagement Platform (CEP)
• Power Monitoring & Control
• Load Shedding & Management
• Flexible Load Management
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Key Questions Answered In The Report
The Global Residential Energy Management Market is majorly driven by government plans and policies toward energy effectiveness in residential buildings and increasing energy expenditure in residential sectors of non-OCED and OCED nations.
The wireless segment is growing at the highest CAGR due to it reduces maintenance costs and has easy accessibility of data from remote locations.
North America dominated with a significant market share owing to the rising investments in grid expansion projects to raise energy efficiency and improved power consumption residential sector.
Asia Pacific market is growing at the highest CAGR owing to rising population and emerging start-ups that are focusing on the improvement of energy-efficient solutions.
Key players in Residential Energy Management Market include Aclara Technologies, Alertme.Com, Carrier, Comverge, EcoFactor, Elster Group, General Electric, Itron, Landis+Gyr, Opower, Schneider Electric, Silver Spring Networks, Tendril Networks, Danaher Corporation, Celestron LLC, Leica Microsystems, Carl Zeiss AG, Nikon Corporation, Keyence Corporation, Jeol, Ltd., Hirox Corporation, Olympus Corporation, and Tagarno A/S.
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