Global Home Energy Management Systems Market: Overview

The global home energy management systems market is estimated to gain substantial popularity across the globe with the relentless improvement of the underlying technology. In addition, with the increasing feasibility of battery and small-scale solar power storage, the global home energy management systems market is likely to prosper in the years to come. Both software and hardware technologies comprise the entire technological platform of a home energy management system. These software and hardware tools enable user to supervise energy production and use so as to manually regulate its use within the household. The use of energy within a household could also be automated.

The global home energy management systems market is likely to grow at an accelerated pace in the forthcoming years. The concept of home energy management systems solutions has evolved over the years and it has become a valuable element of a household these days. Rise in the price of electricity together with augmented demand for generation of distributed energy is likely to shoot up the demand of this product.

Considering three different parameters, the global home energy management systems market has been split to offer deeper insight into the market. These parameters are component, technology, and region.

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Global Home Energy Management Systems Market: Notable Developments

One of the recent market developments related to the global home energy management systems market is as mentioned below:

  • In October 2016, Panasonic Corporation and Schneider Electric developed an integrated building management and HVAC equipment solution. This new development is likely to present a new level of energy efficiency and HVAC control in buildings. This integration enables building managers and owners to view their core building system comprising electrical and power distribution, HVAC equipment, security, and lighting from anywhere and at anytime through one single interface. This new development encourages use of home energy management systems solutions.

Some well-known organizations in the global Home Energy Management Systems market comprise the below-mentioned:

  • Panasonic Corporation
  • Honeywell International
  • General Electric Company
  • Comcast Cable Communications, LLC (Xfinity)
  • Vivint, Inc.
  • EcoFactor, Inc.

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Global Home Energy Management Systems Market: Key Trends

The below-mentioned restraints, opportunities, and drivers characterize the global home energy management systems market during the assessment period, from 2019 to 2027.

Increased Use of this Technology Makes Available Resources More Sustainable

The global home energy management systems market is estimated to be driven by the increased awareness about the sustainable utilization of energy resources. Such awareness is exhibited in the purchasing pattern of customers who are now going for energy-efficient electronic appliances. Along with the purchase of energy-saving appliances, customers are also adopting home energy management systems. Customers are increasingly realizing that energy management systems not only reduce bills, saves energy but it also helps in making available energy resources a more sustainable one.

The emergence of the Internet of things and artificial intelligence are likely to influence the global home energy management systems market substantially and shape its future course. In addition, as data analytics, business model innovation, and cloud solutions make a foray into the market, the home energy management systems are taken to a new level altogether.

Global Home Energy Management Systems Market: Geographical Analysis

Considering regions, the global home energy management systems market is likely to be dominated by North America. Wide use of home energy management solutions together with augmented awareness about this technology is likely to bolster its demand in North America. However, with increased awareness and rising disposable income, Asia Pacific home energy management systems is estimated to expand at a rapid over the period of assessment.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
  • Eastern Europe (Poland and Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold in the market   

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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