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Market Size in USD Billion
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USD 2,804.21 |
| USD 7,402.22 | |
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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) - Industry Trends and Forecast to 2030.
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.
Data Bridge Market Research analyses that the global residential energy management (REM) market is expected to reach USD 7,402.22 million by 2030, from 2,804.21 in 2022 and is expected to undergo a CAGR of 12.9% during the forecast period of 2023 to 2030. “Energy Management Platform (EMP)” dominates the platform segment of the global residential energy management (REM) market due to demand from growing markets. Advanced metering infrastructure (AMI) rollout and increasing consumer interest is expected to influence the growth of Residential Energy Management (REM) market over the forecast period of 2023 to 2030. The rise in demand for connect devices across the globe is one of the major factors driving the growth of the residential energy management (REM) market. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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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)
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Countries Covered
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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
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Market Players Covered
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ABB (Switzerland), Eaton (Ireland), Schneider Electric (France), Honeywell International (U.S.), and Siemens (Germany), General Electric (U.S.), Engie (France), E.On (Germany), Bosch (Germany), Landis+Gyr (Switzerland), Itron (U.S.), Emerson (U.S.), Trane Technologies (Ireland), Tantalus system Corp, (U.S.), Provident Energy Management Inc. (Canada), Sunverge Energy Inc. (U.S.), Koben System Inc. (Canada), NeoSilica (India), Lockheed Martin Corporation (U.S.), Uplight (U.S.), Span.IO (U.S.), Lumin (U.S.), RacePoint Energy (U.S.), and Appartme (Poland), Wattics Ltd (U.K.), among others
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Market Opportunities
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Market Definition
Residential energy management (REM) are the vehicles which are utilized to travel from one destination to another, which are essentially utilized for transporting passengers. Residential energy management (REM) are the most common mode of transportation in advanced countries. They are growing in numbers in emerging countries due to growing per capita income.
Drivers
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 2023 to 2030.
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.
Opportunity
The rising interest of smart appliances manufacturers and addition of all the user interface appliances over smartphones are also anticipated to generate lucrative opportunities for the residential energy management (REM) market in the forecast period of 2023 to 2030. The lack of support from network service providers will pose as a challenge for the residential energy management (REM) market.
Restraint/Challenge
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.
Recent Development
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.
Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
The global residential energy management (REM) market is segmented on the basis of platform, communication technology, hardware, component, category and application. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Platform
Communication Technology
Hardware
Component
Category
Application
The global residential energy management (REM) market is analyzed and market size insights and trends are provided by platform, communication technology, hardware, component, category and application as referenced above.
The regions covered in the global residential energy management (REM) market are North America, South America, Europe, Asia-Pacific, and the Middle East and Africa. The countries covered in the Global Residential Energy Management (REM) Market report are U.S., Canada, Mexico, Brazil, Argentina, the Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of the Middle East and Africa
North America dominates the global residential energy management (REM) market because North America is home to renowned research institutions, universities, and technology companies that conduct cutting-edge research in photonics and integrated circuit technologies. This strong R&D ecosystem fosters innovation and drives advancements in residential energy management (REM) circuits.
Asia-Pacific is expected to be fastest-growing country in the global residential energy management (REM) market due to the Asia-Pacific region has a large and rapidly growing population, along with a significant increase in internet usage and data consumption. This drives the demand for high-speed and efficient communication networks, which can benefit from the use of residential energy management (REM) circuits. PICs are capable of integrating multiple optical components on a single chip, making them well-suited for high-speed data transmission and communication applications.
The region section of the report also provides individual market-impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points such as down-stream and up-stream value chain analysis, technical trends, and Porter’s five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and the challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the region data.
The global residential energy management (REM) market competitive landscape provides details of competitors. 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, and application dominance. The above data points provided are only related to the company's focus related to the global residential energy management (REM) market.
Some of the major players operating in the global residential energy management (REM) market are:
SKU-
Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
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