Residential Energy Management Market to Signify Strong Growth by 2023-2029

The residential energy management market is anticipated to grow at a considerable CAGR of 13.1% during the forecast period. The growing application of HVAC systems in homes is a major factor projected to boost the market growth for residential energy management. Energy management of heating, ventilating and air-conditioning (HVAC) systems are becoming a primary concern among users, as HVAC is the largest user of electricity in buildings. It costs a lot to operate and maintain along with this it is vital building infrastructure. Heating, ventilation, and air conditioning (HVAC) systems account for up to 40% of total energy consumption in buildings, regardless of whether the building is commercial, residential, or industrial.

Furthermore, as per International Energy Agency's (IEA) report, the energy demand from air conditioners is further expected to grow three times by 2050. The growing energy demands from HVAC systems are resulting in rising electricity costs. Therefore, having an effective control system in place, such as an Energy Management System (EMS) comes in handy. Energy Management Systems deliver smart buildings with efficient energy management. It monitors and regulates building systems such as HVAC, lighting, and power. It includes both software and hardware that allows appliances, equipment, and gadgets in a building to communicate with one another. Moreover, apart from energy monitoring, It brings together building infrastructure with external data such as weather bureau feeds, and powerful analytical tools. As HVAC systems are frequently among the largest energy consumers in a building, HVAC manufacturers are seeking ways to improve their products' energy efficiency and offer tools to customers that can assist them in monitoring their devices or systems.

To Request a Sample of our Report on Residential Energy Management Market: https://www.omrglobal.com/request-sample/residential-energy-management-market

Market Coverage

The market number available for - 2021-2030
Base year- 2022
Forecast period- 2023-2030
Segment Covered-
· By Component

· By Communication Technology

· By Application

Regions Covered-

· North America

· Europe

· Asia-Pacific

· Rest of the World

Competitive Landscape - Honeywell International Inc., LG Electronics, Panasonic Industry Co., Ltd., Samsung Electronics, Schneider Electric Industries SAS, and others.

Residential Energy Management Market Report Segment

By Component

Hardware
Software
By Communication Technology

Wired
Wireless
By Application

Smart Appliances
Smart Meters
Smart Thermostats
In-House Displays (IHD)
Others
A full report of Residential Energy Management Market available @ https://www.omrglobal.com/industry-reports/residential-energy-management-market

Residential Energy Management Market Report Segment by Region

North America

United States
Canada
Europe

Germany
United Kingdom
France
Spain
Italy
Rest of Europe
Asia-Pacific

China
Japan
India
Rest of Asia-Pacific
Rest of the World

Middle East & Africa
Latin America
Company Profiles

ABB Ltd
Aclara Technologies LLC. (Hubbell Inc.)
Amphenol group
Aztech Associates Inc.
Comcast Corp.
Eaton Corporation plc
ecobee inc.
Energate, Inc.
ON
General Electric Company
HPL Electric and Power Ltd
Itron, Inc.
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2. More than 120 countries are for analysis.

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