Press release
Key Trends Shaping the Future Energy Efficient Devices Market From 2025-2034: Smart Internet of Things (IoT) Solutions Transforming Markets
Energy Efficient Devices Market Outlook
The energy-efficient devices market has grown rapidly in recent years. It is forecasted to rise from $1095.47 billion in 2024 to $1230.6 billion in 2025, with a compound annual growth rate (CAGR) of 12.3%. Growth is attributed to government regulations, technological advancements, rising energy costs, environmental awareness, and consumer demand.
The energy-efficient devices market will reach $1921.47 billion by 2029 at a CAGR of 11.8%, driven by smart homes, energy management systems, electric vehicle infrastructure, and blockchain integration. Trends include IoT and AI adoption, renewable integration, and smart grid development.
What Are the Forces Behind the Rapid Growth of the Energy Efficient Devices Market?
Government energy-efficiency initiatives are expected to drive the energy-efficient devices market. These initiatives include programs, policies, and actions aimed at reducing energy consumption and improving efficiency. Governments play a key role in advancing energy-efficient devices by setting standards, offering incentives, promoting research and development, implementing building codes, and fostering collaboration across sectors. For instance, the UK's Department for Energy Security and Net Zero reported that in 2023, government schemes led to the installation of 318,600 energy efficiency measures, marking a 49% increase from the previous year. Therefore, government energy-efficiency efforts are fueling the growth of the energy-efficient devices market.
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Who Are the Dominant Companies Influencing Energy Efficient Devices Market Trends?
Major companies operating in the energy efficient devices market are Samsung Electronics, Siemens AG, GE Electric, Panasonic Corporation, Veolia Environment SA, Mitsubishi Electric Corporation, Schneider Electric SE, Honeywell International Inc., ABB Ltd., Daikin Industries Ltd., Toshiba Corporation, Johnson Controls International plc, Eaton Corporation, Carrier Global Corporation, Koninklijke Philips N.V., Trane Technologies, Emerson Electric Co., Legrand Group, Osram Group, Acuity Brands Inc., Itron Inc., Zumtobel Group, Cree Inc., Crompton Greaves Consumer Electricals Limited, Danfoss Group
What Are the Different Segmentations in the Energy Efficient Devices Market?
The energy efficient devices market covered in this report is segmented -
1) By Component: Hardware, Software, Services
2) By System Type: Industrial Energy Management Systems (IEMS), Building Energy Management Systems (BEMS), Home Energy Management Systems (HEMS)
3) By Vertical: Residential, Energy And Power, Telecom And Information Technology (IT), Manufacturing, Retail, Healthcare, Other Verticals
Subsegments:
1) By Hardware: Sensors, Actuators, Power Supplies, Controllers, Batteries, LED Lighting, Energy-efficient Appliances
2) By Software: Energy Management Software, Automation Software, Monitoring And Analytics Software, Smart Grid Software, Predictive Maintenance Software
3) By Services: Installation Services, Maintenance And Support Services, Consulting And Advisory Services, Managed Services, System Integration Services
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Which Region Is at the Forefront of the Energy Efficient Devices Market?
North America was the largest region in the energy efficient devices market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the energy efficient devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Energy Efficient Devices Global Market Report?
- Market Size Analysis: Analyze the Energy Efficient Devices Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Energy Efficient Devices Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Energy Efficient Devices Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Energy Efficient Devices Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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