Press release
Home Energy Management Systems Market Analysis by Product Type, Communication Technology, System Type and Regional Outlook 2023-2028
Home Energy Management Systems Market Report
Industry Insight:
Home energy management systems represent smart electronic devices that are used to manage the consumption of energy in households. They are of various types, such as lighting controls, programmable communicating thermostats, self-monitoring systems and services, advanced central controllers, etc. Home energy management systems enable homeowners to efficiently monitor their energy requirements and get individual electricity consumption patterns and power consumption data of the appliances. They even allow the users to customize the usage of electricity, ensure management of backup with the help of battery storage, and facilitate efficient use of solar energy. As a result, home energy management systems are in extensive demand among consumers across the globe.
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Market Trends:
The rising awareness among consumers about the sustainable use of energy resources is primarily driving the home energy management systems market. In addition to this, the elevating need for energy-efficient appliances and the shifting preferences toward smart home solutions that help in reducing energy expenses and play a major part in making the available energy resources more sustainable are acting as significant growth-inducing factors. In line with this, the launch of favorable initiatives by government bodies aimed at promoting the construction of smart buildings to enhance energy efficiency is further stimulating the market growth.
Apart from this, the expanding penetration of high-speed internet connectivity in both developing and developed countries and the increasing integration of the internet of things (IoT) and big data in energy management are also positively influencing the global market. Moreover, the escalating adoption of smart meters and smart grids for effectively serving the mounting energy requirement across countries is expected to propel the home energy management systems market over the forecasted period.
Key Companies Covered in this Market Report:
• Honeywell International, Inc. (NASDAQ: HON)
• Nest Labs, Inc.
• Vivint, Inc. (NYSE: VVNT)
• General Electric Company (NYSE: GE)
• Ecobee, Inc.
• Alarm
• Comcast Cable (Xfinity) (NASDAQ: CMCSA)
• Panasonic Corporation
• Ecofactor, Inc.
• Energyhub, Inc.
Key Market Segmentation:
The report has segmented the market into the following categories:
Breakup by Product Type:
• Lighting Controls
• Self-Monitoring Systems and Services
• Programmable Communicating Thermostats
• Advanced Central Controllers
• Intelligent HVAC Controllers
Breakup by Communication Technology:
• Z-Wave
• Zigbee
• Wi-Fi
• Others
Breakup by Software & Service:
• Behavioral
• Proactive
Breakup by Region:
• North America
• Asia Pacific
• Europe
• Latin America
• Middle East and Africa
Ask Analyst for 10% Free Customized Report: https://www.imarcgroup.com/request?type=report&id=1126&flag=C
Key Highlights of the Report:
• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
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