Global Home Energy Management Market Size, Trends & Growth Opportunity, By Offering (Hardware, Software, Services), By Technology (Z-Wave, ZigBee, Wi-Fi, Ethernet, Others), By Region and Forecast till 2027
Report ID : QR1001282 | Industries : Energy & Power | Published On :November 2021 | Page Count : 263Global Home Energy Management Market
Global Home Energy Management market was valued at USD 2880 million in 2020 which expected to reach USD 8730 million by 2027 at a CAGR 15.6% from 2020-2027.
Home energy management is a hardware and software solution that allows homeowners to monitor and reduce the energy use of numerous electrical equipment in their homes. Home energy management consists of five distinct products that aid in the administration and reduction of energy consumption. Self-monitoring systems, lighting controls, programmable communicating thermostats, advanced central controllers, and intelligent HVAC controllers are among the products available.
Know more about this report: request for sample pages
Market Drivers
During the forecast period, the worldwide home energy management market is expected to increase significantly. Rising demand for energy-efficient solutions, increased urbanisation in developing economies, and an increase in the number of connected devices via the Internet of Things are driving the expansion of the home energy management market. With the construction of smart buildings, emerging countries such as India, China, Japan, Argentina, Brazil, Mexico, and South Korea are seeing fast urbanization.
Market Restraints
High initial expenditures associated with implementing Home Energy Management.
The initial phase of residential energy management system deployment requires a significant investment. The role of local and national governments in infrastructure transformation is critical. The system necessitates large initial investments to establish the transmission network between customers and the smart grid. Furthermore, an efficient deployment necessitates close collaboration across traditional organizational boundaries, significant process change, and strict governance. High post-deployment operational and maintenance expenses are also a major problem for power companies. As a result, the demand for increased oil recovery is reduced.
Impact of COVID-19
The ongoing COVID-19 pandemic has had a global impact on the power industry. As a result of the current situation, several device manufacturers in various locations have had to shut down their manufacturing facilities and services as countries implemented partial or full lockdown strategies to deal with the pandemic. The COVID-19 pandemic has cut electricity consumption dramatically, although residential building electricity use has increased.
Market Segmentation
The Global Home Energy Management Market is segmented into Offering, Technology, Distribution Channel and Growing System. By Offering such as Hardware, Software, Services. Further, market is segmented into By Technology such as Z-Wave, ZigBee, Wi-Fi, Ethernet, Others.
Regional Analysis
Global Home Energy Management Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America has the largest market share and this dominance can be attributed in large part to technological developments and increased usage of wireless energy management technologies such as ZigBee, Z-Wave, and Wi-Fi. Furthermore, the increased demand for HAN (Home Area Network) devices has solidified their market leader position.
Key Players
Various key players are listed in this report such as Honeywell International, Inc., General Electric Company, Panasonic Corporation, Cisco Systems Inc., Nest Labs, Inc., Vivint Inc., Schneider Electric SA, Comcast Cable Communications, LLC (Xfinity), EcoFactor, Inc., Energyhub, Inc.
Market Taxonomy
By Offering
- Hardware
- Software
- Services
By Technology
- Z-Wave
- ZigBee
- Wi-Fi
- Ethernet
- Others
By Region
- North America
- Latin America
- Europe
- China
- Asia Pacific
- Middle East & Africa
Key Questions Addressed by the Report
- What are the Key Opportunities in Global Home Energy Management Market?
- What will be the growth rate from 2020 to 2027?
- Which segment/region will have highest growth?
- What are the factors that will impact/drive the Market?
- What is the competitive Landscape in the Industry?
- What is the role of key players in the value chain?
Global Home Energy Management Market TOC
1 Introduction
1.1 Objective of the Study
1.2 Market definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Global Home Energy Management Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Global Home Energy Management Market, By Offering
5.1 Y-o-Y Growth Comparison, By Offering
5.2 Global Home Energy Management Market Share Analysis, By Offering
5.3 Global Home Energy Management Market Size and Forecast, By Offering
5.3.1 Hardware
5.3.2 Software
5.3.3 Services
6 Global Home Energy Management Market, By Technology
6.1 Y-o-Y Growth Comparison, By Technology
6.2 Global Home Energy Management Market Share Analysis, By Technology
6.3 Global Home Energy Management Market Size and Forecast, By Technology
6.3.1 Z-Wave
6.3.2 ZigBee
6.3.3 Wi-Fi
6.3.4 Ethernet
6.3.5 Others
7 Global Home Energy Management Market, By Product Type
7.1 Y-o-Y Growth Comparison, By Product Type
7.2 Global Home Energy Management Market Share Analysis, By Product Type
7.3 Global Home Energy Management Market Size and Forecast, By Product Type
7.3.1 Lighting Controls
7.3.2. Self-Monitoring Systems and Services
7.3.4. Programmable Communicating Thermostats
7.3.5. Advanced Central Controllers
7.3.6. Intelligent HVAC Controllers
8 Global Home Energy Management Market, By Region
8.1 Global Home Energy Management Market Share Analysis, By Region
8.2 Global Home Energy Management Market Share Analysis, By Region
8.3 Global Home Energy Management Market Size and Forecast, By Region
9 North America Home Energy Management Market Analysis and Forecast (2021-2027)
9.1 Introduction
9.2 North America Home Energy Management Market Share Analysis, By Offering
9.3 North America Home Energy Management Market Size and Forecast, By Technology
9.4 North America Home Energy Management Market Size and Forecast, By Product Type
9.6 North America Home Energy Management Market Size and Forecast, By Country
9.7.1 U.S.
9.7.2 Canada
9.7.3 Mexico
10 Europe Home Energy Management Market Analysis and Forecast (2021-2027)
10.1 Introduction
10.2 Europe Home Energy Management Market Share Analysis, By Offering
10.3 Europe Home Energy Management Market Size and Forecast, By Technology
10.4 Europe Home Energy Management Market Size and Forecast, By Product Type
10.6 Europe Home Energy Management Market Size and Forecast, By Country
10.6.1 Germany
10.6.2 France
10.6.3 UK
10.6.4. Rest of Europe
11 Asia Pacific Home Energy Management Market Analysis and Forecast (2021-2027)
11.1 Introduction
11.2 Asia Pacific Home Energy Management Market Share Analysis, By Offering
11.3 Asia Pacific Home Energy Management Market Size and Forecast, By Technology
11.4 Asia Pacific Home Energy Management Market Size and Forecast, By Product Type
11.6 Asia Pacific Home Energy Management Market Size and Forecast, By Country
11.6.1 China
11.7.2 Japan
11.8.3 India
11.8.4. Rest of Asia Pacific
12 Latin America Home Energy Management Market Analysis and Forecast (2021-2027)
12.1 Introduction
12.2 Latin America Home Energy Management Market Share Analysis, By Offering
12.3 Latin America Home Energy Management Market Size and Forecast, By Technology
12.4 Latin America Home Energy Management Market Size and Forecast, By Product Type
12.6 Latin America Home Energy Management Market Size and Forecast, Country
12.7.1. Brazil
12.8.2. Rest of Latin America
13 Middle East Home Energy Management Market Analysis and Forecast (2021-2027)
13.1 Introduction
13.2 Middle East Home Energy Management Market Share Analysis, By Offering
13.3 Middle East Home Energy Management Market Size and Forecast, By Technology
13.4 Middle East Home Energy Management Market Size and Forecast, By Product Type
13.6 Middle East Home Energy Management Market Size and Forecast, By Country
13.7.1. Saudi Arabia
13.8.2. UAE
13.8.3. Egypt
13.9.4. Kuwait
13.10.5. South Africa
14 Competitive Analysis
14.1 Competition Dashboard
14.2 Market share Analysis of Top Vendors
14.3 Key Development Strategies
15 Company Profiles
15.1 Honeywell International, Inc
15.1.1 Overview
15.1.2 Offerings
15.1.3 Key Financials
15.1.4 Business Segment & Geographic Overview
15.1.5 Key Market Developments
15.1.6 Key Strategies
15.2. General Electric Company
15.2.1 Overview
15.2.2 Offerings
15.2.3 Key Financials
15.2.4 Business Segment & Geographic Overview
15.2.5 Key Market Developments
15.2.6 Key Strategies
15.3. Panasonic Corporation
15.3.1 Overview
15.3.2 Offerings
15.3.3 Key Financials
15.3.4 Business Segment & Geographic Overview
15.3.5 Key Market Developments
15.3.6 Key Strategies
15.4 Cisco Systems Inc
15.4.1 Overview
15.4.2 Offerings
15.4.3 Key Financials
15.4.4 Business Segment & Geographic Overview
15.4.5 Key Market Developments
15.4.6 Key Strategies
15.5 Nest Labs, Inc.
15.5.1 Overview
15.5.2 Offerings
15.5.3 Key Financials
15.5.4 Business Segment & Geographic Overview
15.5.5 Key Market Developments
15.5.6 Key Strategies
15.6 Vivint Inc
15.6.1 Overview
15.6.2 Offerings
15.6.3 Key Financials
15.6.4 Business Segment & Geographic Overview
15.6.5 Key Market Developments
15.6.6 Key Strategies
15.7 Schneider Electric SA
15.7.1 Overview
15.7.2 Offerings
15.7.3 Key Financials
15.7.4 Business Segment & Geographic Overview
15.7.5 Key Market Developments
15.7.6 Key Strategies
15.8 Comcast Cable Communications, LLC (Xfinity)
15.8.1 Overview
15.8.2 Offerings
15.8.3 Key Financials
15.8.4 Business Segment & Geographic Overview
15.8.5 Key Market Developments
15.8.6 Key Strategies
15.8 EcoFactor, Inc
15.8.1 Overview
15.8.2 Offerings
15.8.3 Key Financials
15.8.4 Business Segment & Geographic Overview
15.8.5 Key Market Developments
15.8.6 Key Strategies
15.9 Energyhub, Inc
15.9.1 Overview
15.9.2 Offerings
15.9.3 Key Financials
15.9.4 Business Segment & Geographic Overview
15.9.5 Key Market Developments
15.9.6 Key Strategies