Residential Energy Management Market, by Component (Hardware (RTU, Relays, LCS, DR devices, Control Devices, In-house Displays), Software (EMP, Energy Analytics, CEP)), Communication Technology (Wired, Wireless), Application and Geography (North America, Europe, Asia-Pacific, Middle East and Africa and South America)
Residential Energy Management Market Overview
The global Residential Energy Management market size is projected to reach USD 4.2 billion by 2026 at a CAGR of 13.2% from USD 2.5 billion in 2021 during the forecast period 2021-2028.
Residential energy delas with the energy used in the household by the people. There are multiple ways which can be used for efficient energy management like identifying source of energy consumption, collection of data, analysis, identifying the opportunities, and tracking the progress.
Due to the surged energy consumption along with the governmental policies for the sector are some of the factors that have supported long-term expansion for Residential Energy Management Market.
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The COVID-19 pandemic is causing widespread concern and economic hardship for consumers, businesses, and communities across the globe. Though the consumption of electricity in household has increased but the net demand for electricity has been reduced significantly affecting the sector negatively.
Residential Energy Management Market Regional Analysis
North America is expected to be the largest market during the forecast period. The increased investment in the sector has led to the expansion of market in the region.
Residential Energy Management Market Competitive Landscape
Key Players
- ABB
- Eaton
- Schneider Electric
- Honeywell International
- Siemens
- Itron
- Emerson
- Bosch
- Span.Io
- Lumin
- Racepoint Energy
- Appartme
- Uplight
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Residential Energy Management Market Recent Developments
- In June 2020, Eaton and Sunverge joined hands for providing intelligent and dynamic energy management of in-home appliances.
- In May 2018, Schneider Electric signend a partnership with SolarEdge Technologies Inc so as to enhance the residential solar market and provided homeowners with seamless energy management for smart homes.
Reasons to Acquire in the Residential Energy Management Market
- Increase your understanding of the market for identifying the best and suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends and factors
- Gain authentic and granular data access for Residential Energy Management market so as to understand the trends and the factors involved behind changing market situations
- Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future
- In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns
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