Global Residential Energy Management (REM) Market, By Platform (Energy Management Platform (EMP), Energy Analytics, Customer Engagement Platform (CEP)), Communication Technology (ZigBee, Wireless M-Bus, Threads, Wi-Fi, Z-Wave, Home Plugs), Hardware (Gateways, Demand Response (DR) Devices, Ventilating, Load Control Switches (LCS), Heating and Air-Conditioning (HVAC) Control Devices), Component (Sensors, Controllers, Software, Batteries, Display Devices, Others), Category (Wired, Wireless), Application (Smart Appliances, Smart Meters, Smart Thermostats, In-House Displays (IHD), Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2029.
Market Analysis and Insights of Residential Energy Management (REM) Market
Residential energy management (REM) market is expected to gain market growth in the forecast period of 2022 to 2029. Data Bridge Market Research analyses the market to grow at a CAGR of 40% in the above-mentioned forecast period.
Residential energy management can monitor the energy consumption of the home residents to help them adapt their energy usage behavior based on the feedback they receive from the system This management solutions basically consume less power and results in lower utility bills.
The factors such as advanced metering infrastructure (AMI) rollout and increasing consumer interest in efficient energy management are expected to emerge as the significant factors accelerating the growth of residential energy management (REM) market in the forecast period of 2022 to 2029. In addition to this, the effective government regulations to raises the demand for renewables and sustainable solutions, increased energy efficiency of appliances and insulation, attractive prospects for smart homes that are propelling both private/government agencies and wide applications of these solutions in the different sector will further aggravate the growth of the residential energy management (REM) market in the above-mentioned forecast period. The rising need to improvise utility sector efficiency and growing popularity of sustainable power resources are also projected to boost the growth of the market. However, the lack of awareness along with standard guidelines and high initial cost results as a growth restraint for the market. The high initial investments and lack of skilled workforce to implement modern solutions is also expected to hamper the market’s growth.
The rising interest of smart appliances manufacturers and addition of all the user interface appliances over smart phones are also anticipated to generate lucrative opportunities for the residential energy management (REM) market in the forecast period of 2022 to 2029. The lack of support from network service providers will pose as a challenge for the residential energy management (REM) market.
This residential energy management (REM) market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on Residential energy management (REM) market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Residential Energy Management (REM) Market Scope and Market Size
The residential energy management (REM) market is segmented on the basis of platform, communication technology, hardware, component, category and application. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.
- On the basis of platform, the residential energy management (REM) market has been segmented into energy management platform (EMP) and energy analytics and customer engagement platform (CEP).
- On the basis of communication technology, the residential energy management (REM) market has been segmented into ZigBee, wireless M-Bus, threads, Wi-Fi, Z-Wave and home plugs.
- On the basis of hardware, the residential energy management (REM) market has been segmented into gateways, demand response (DR) devices, ventilating, load control switches (LCS) and heating and air-conditioning (HVAC) control devices.
- Residential energy management (REM) market on the basis of component has been segmented as sensors, controllers, software, batteries, display devices and others.
- On the basis of category, the residential energy management (REM) market has been segmented into wired and wireless.
- The application segment is segmented into smart appliances, smart meters, smart thermostats, in-house displays (IHD) and others.
Residential Energy Management (REM) Market Country Level Analysis
The residential energy management (REM) market is analyzed and market size, volume information is provided by platform, communication technology, hardware, component and application as referenced above.
The countries covered in the residential energy management (REM) market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the residential energy management (REM) market during the forecast period owing to the several government regulations and policies across the region in the forecast period of 2022 to 2029. Asia-Pacific, on the other hand, is expected to show a lucrative growth due to growing population and emerging start-ups which are focusing on the improvement of energy-efficient solutions in the region.
The country section of the residential energy management (REM) market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Residential Energy Management (REM) Market Share Analysis
The residential energy management (REM) market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Residential energy management (REM) market.
Some of the major players operating in the residential energy management (REM) market report are General Electric, Honeywell International Inc., Itron Inc., Oracle, Schneider Electric, Aclara Technologies LLC., Landis+Gyr, ABB, Siemens, Aclara Technologies LLC, e-peas, E.ON UK plc, Cisco, LG Electronics., SAMSUNG , Landis+Gyr, Panasonic Corporation, and COMCAST among others.