Press release
Residential Energy Management Market Current Impact to Make Big Changes | ABB, Schneider Electric, Oracle
Residential Energy Management Market Current Impact to Make Big Changes
Global residential energy management market is set to witness substantial CAGR in the forecast to 2026. Rising manufacturing of smart appliances and incorporation of all smartphone user interface devices are the factor for the market growth.
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Few of the major competitors currently working in the global residential energy management market are Elster Group, GENERAL ELECTRIC, Itron, Landis+Gyr, Emerson Electric, ABB, Schneider Electric, Oracle, STMicroelectronics, Aclara Technologies, Tendril Networks, Inc.; Co.; DAIKIN INDUSTRIES, Ltd; Toshiba International Corporation; IBM; GridPoint; Siemens; ecobee.; Ayla Networks; Electriq Power, among others.
What are the major market growth drivers?
Rising demand for efficient energy management will accelerate the market growth
Increasing number of smart homes will also enhance the market
Growing applications of these solutions acts as a market driver
Government is also taking different initiatives so they can encourage the use of residential energy management which is another factor boosting the market growth
By Platform (Energy Management Platform, Energy Analytics, Customer Engagement Platform), User Interface Application (Smart Appliances, Smart Meters, Smart Thermostats, In- House Displays), Communication Technology (Wi-Fi Technology, Zigbee Technology, Z- Wave Technology, Wireless M- Bus Technology, Homeplug Technology, Thread Technology), Hardware (Gateways, Load Control Switches, Demand Response Devices, Heating, Ventilating, and Air-Conditioning (HVAC) Control Devices),Geography
Regional and Country-level Analysis
North America: United States, Canada, and Mexico.
South & Central America: Argentina, Chile, and Brazil.
Middle East & Africa: Saudi Arabia, UAE, Turkey, Egypt and South Africa.
Europe: UK, France, Italy, Germany, Spain, NORDIC {Sweden, Norway, Finland, Denmark etc}, BENELUX {Belgium, The Netherlands, Luxembourg}, and Russia.
Asia-Pacific: India, China, Japan, South Korea, Indonesia, Singapore, and Australia.
Market Dynamics:
Set of qualitative information that includes PESTEL Analysis, PORTER Five Forces Model, Value Chain Analysis and Macro Economic factors, Regulatory Framework along with Industry Background and Overview
Key Developments in the Market:
In October 2019, C3 IoT, Inc. and ENGIE announced the launch of smart institutions which is an AI powered holistic Energy-as-a-Service software solution which is specially designed for large institutions. Through Smart Institutions, organisations can control their buildings and energy resources proactively and automatically to improve efficiency and reduce energy costs. This launch will help the company to provide better solutions and services to their customer
In July 2017, Schneider electric announced the launch of their Automatic Power Factor Corrector (APFC) panels and Automatic Harmonic Filter (AHF) which has the ability to save energy upto 30% as compared to their conventional solutions. This launch will help the company to support the government initiatives in achieving energy efficiency
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