Smart Grid Home Area Network (HAN) Market Predicted to Rise at a Lucrative CAGR throughout 2026

Electricity is the most widely used form of energy across the globe. Generation of electrical energy is the major source of carbon dioxide emission, as it relies on fossil fuels, followed by transportation, and is thus a significant contributor to climate change. In order to cater to growing demand for electricity and reduce the impact on the environment, electric systems need to be efficient and effective enough to conserve and reduce the electricity wastage. Smart grid solutions offer a comprehensive approach to meet the aforementioned challenges. Smart grid systems offers demand response capabilities in order to balance electrical consumption with supply as well as potential to integrate new technologies. HAN is a subsystem within the smart grid primarily oriented towards the demand-side management. Smart grid home area network is basically a network of signal-controlled appliances, consumer devices, and energy management devices. This enables connected devices to send and receive signals from meter, displays and other home management devices.

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Smart Grid Home Area Network: Drivers

Growing supply-side deployment of smart grid solution, government initiatives towards energy management and smart cities, increasing wireless network connection speeds, growing demand for cloud based solutions are expected to drive the growth of smart grid home area network market during the forecast period. In addition, consumer privacy and security is another factor that can hinder the growth of the market. In addition, rising energy prices and increasing sophisticated conservation solutions are anticipated to drive the smart grid home area network market to a certain extent.

Smart Grid Home Area Network: Challenges

Integration of various product solutions to existing metering systems, interoperability between various solutions provided by manufacturers, lack of consumer awareness in developing regions are certain challenges that can hinder the growth of smart grid home area network market.

Smart Grid Home Area Network: Segmentation

Smart grid home area network market is segmented on the basis of solution type, and region. On the basis of solution type, the smart grid home area network can be segmented into hardware, software and services. On the basis of region, smart grid home area network market can be segmented into North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific excluding Japan (APEJ), Japan and Middle East and Africa (MEA).

Smart Grid Home Area Network: Regional Outlook

The smart grid home area network market in North American dominates among all the other regions. The smart grid home area network market in Eastern Europe and Asia Pacific are expected to pose most lucrative opportunity during the forecast period due to growing government initiatives towards smart cities and the growing awareness among the consumers about energy management. The smart grid home area network market in Middle East and Africa and Latin America are among the potential markets but are listed after Asia Pacific and Eastern Europe.

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Smart Grid Home Area Network: Competition Landscape

Key vendors of smart grid home area network include Control4, Cisco Systems, GE Energy, Silver Spring Networks, Tendril Networks, Honeywell International, Inc., icontrol Networks, Inc., Energate Inc., Calico Energy Services, and Onzo Ltd.

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