Market Research Report
Residential Energy Management - Global Market Outlook (2020 -2028)
|Residential Energy Management - Global Market Outlook (2020 -2028)|
Published: July 1, 2021
Stratistics Market Research Consulting
Content info: 150+ Pages
Delivery time: 2-3 business days
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.
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Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.