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Residential Energy Management Market worth $4.1 Billion by 2025

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Residential Energy Management Market worth $4.1 Billion by 2025

February 10
20:32 2021
Residential Energy Management Market worth $4.1 Billion by 2025
The global residential energy management market is projected to reach USD 4.1 billion by 2025 from an estimated USD 2.2 billion in 2020, at a CAGR of 12.9%.

According to the new market research report 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; Region – Global forecast to 2025″, published by MarketsandMarkets™, the global Residential Energy Management Market size will grow to USD 4.1 billion by 2025 (forecast year) from USD 2.2 billion in 2020 (estimated year), at a CAGR of 12.9% during the forecast period. The rising energy consumption in residential sectors of OCED and non OCED nations, government initiatives and policies toward energy efficiency in residential buildings, are the driving factors for the Residential Energy Management Market, globally. Increasing investments for modernizing aging grid infrastructures upcoming smart city projects in developing economies to enhance residential sector, which creates opportunities for growth of the market.

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The hardware segment is expected to dominate the Residential Energy Management Market, by component, during the forecast period.

Based on component, the Residential Energy Management Market has been segmented into hardware, and software. The hardware segment accounted for the highest share of the Residential Energy Management Market in 2019. Hardware help grid operators for voltage regulation, advanced fault detection, automating power restoration, reduce the power waste and increased energy efficiency in residential buildings.

Browse in-depth TOC on “Residential Energy Management Market

100 – Tables

50 – Figures  

191 – Pages

View Detailed Table of Content Here:

https://www.marketsandmarkets.com/Market-Reports/residential-energy-management-market-46579295.html

The wireless segment projected to register a higher CAGR than the wired segment during the forecast period

Based on communication technology, the market has been segmented into wired and wireless. The wireless segment is expected to witness a higher CAGR during the forecast period. Residential energy management uses wireless communication due to its ease in accessibility and increased efficiency. This wireless communication technology provides integral support to the utilities by offering high bandwidth and covering a large area.

The Asia Pacific estimated to fastest growing market for the Residential Energy Management Market during the forecast period

Asia Pacific is estimated to be the fastest growing market for residential energy management during the forecast period. For the market analysis, the region has been segmented into China, Japan, India, Australia, and the Rest of Asia Pacific. The demand for residential energy management in this region is driven mostly by the increasing electricity consumption and the need to upgrade aging infrastructure. Countries in this region are shifting toward energy efficiency in residential buildings to meet the growing energy demands.

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To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the Residential Energy Management Market.

Some of the key players are ABB (Switzerland), Eaton (Ireland), Schneider Electric (France), Honeywell International (US), and Siemens (Germany). The leading players are adopting various strategies to increase their share in the Residential Energy Management Market. Partnership & collaboration, and new product launches have been a widely adopted strategy by the major players in the Residential Energy Management Market.

About MarketsandMarkets™:

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledgestore” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: 1-888-600-6441
Email: [email protected]
Content Source: https://www.marketsandmarkets.com/PressReleases/residential-energy-management.asp

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Phone: 18886006441
Address:630 Dundee Road Suite 430
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State: IL 60062
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/residential-energy-management-market-46579295.html