Home Energy Management Systems Market 2024-2028
The home energy management systems market is forecasted to grow by USD 1970.1 mn during 2023-2028, accelerating at a CAGR of 10.01% during the forecast period. The report on the home energy management systems market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by growing adoption of smart grid technologies, rising need for energy conservation, and availability of a wide range of smart home products.
Technavio's home energy management systems market is segmented as below:
- By Component
- Hardware
- Software
- Services
- By Product
- Lighting controls
- Programmable thermostats
- Self-monitoring systems
- Advanced central controllers
- By Geographical Landscape
- North America
- Europe
- APAC
- South America
- Middle East and Africa
This study identifies the growing investment in smart cities and smart homes as one of the prime reasons driving the home energy management systems market growth during the next few years. Also, rapid advances in technology and reduction in technology costs and increasing role of utilities in energy management will lead to sizable demand in the market.
The report on the home energy management systems market covers the following areas:
- Home energy management systems market sizing
- Home energy management systems market forecast
- Home energy management systems market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading home energy management systems market vendors that include Capgemini Service SAS, Carrier Global Corp., Cisco Systems Inc., Comcast Corp., ecobee, Emerson Electric Co., General Electric Co., Honeywell International Inc., Intel Corp., Johnson Controls International Plc., Lennox International Inc., Liricco Technologies Ltd., Panasonic Holdings Corp., Resideo Technologies Inc., Robert Bosch GmbH, Schneider Electric SE, Siemens AG, Snap One LLC, tado GmbH, and Vivint Inc.. Also, the home energy management systems market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive primary and secondary research. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.