Strong Growth Ahead: Energy Efficient Devices Market Size To Grow At Arecord 11.8% Cagr By 2029

The Energy Efficient Devices Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

How Big Is the Energy Efficient Devices Market Size Expected to Be by 2034?
There has been a swift expansion in the market size of energy efficient devices in recent times. The market, which was valued at $1095.47 billion in 2024, is projected to reach $1230.6 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 12.3%. This significant growth during the historical period is mainly due to government policies, advancements in technology, increased energy prices, environmental consciousness, and consumer demand.

The market size for energy efficient devices is projected to witness a steep increase in the upcoming years. A compound annual growth rate (CAGR) of 11.8% is anticipated to push the market value to $1921.47 billion by 2029. Factors contributing to this growth during the forecast period could include a surge in adoption of smart home gadgets, growth in energy management systems, development of electric vehicle infrastructure, and the use of blockchain technology in the tracking of energy efficiency. Additionally, the emergence of energy-efficient appliances may also influence the market's growth. Notable trends expected during this forecast period encompass the incorporation of Internet of Things (IoT), the employment of artificial intelligence (AI), the integration of renewable energy, the advancement of smart grids, and a stricter adherence to energy efficiency standards.

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What Are the Emerging Segments Within 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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What Long-Term Drivers Are Shaping Energy Efficient Devices Market Trends?
The spike in the energy-efficient devices market is being projected due to the government's energy-efficiency initiatives. These initiatives, which include programs, policies, or actions, aim to curtail energy use and enhance energy efficiency. The role of government in promoting energy-efficient devices is crucial, with strategies like devising standards, encouraging usage, promoting awareness, endorsing research and development, enacting building regulations, and endorsing cross-industry collaboration. The UK-based Department for Energy Security and Net Zero cited that approximately 318,600 energy efficiency strategies were put into action in 2023 through governmental schemes, marking a 49% surge in comparison to 2022. Thus, the propulsion of the energy-efficient devices market is largely owed to the government's energy-efficiency initiatives.

Who Are the Top Competitors in Key Energy Efficient Devices Market Segments?
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 Energy Efficient Devices Market Trends Are Gaining Traction Across Different Segments?
Prominent organizations in the energy-efficient devices market are concentrating on creating innovative products embedded with leading-edge technologies such as smart IoT solutions. This is aimed at increasing their market profitability. Smart IoT solutions play a pivotal role in enhancing energy efficiency in diverse areas including residential places, commercial buildings, industral areas, and cities, thereby leading to sustainability and protection of the environment. For example, Siemens AG, an energy technology and manufacturing corporation based in Germany, launched the Connect Box in March 2023. This IoT solution targets small to medium-sized buildings, integrating wired and wireless devices seamlessly. The Connect Box optimizes energy consumption, tracks performance, and improves indoor air quality through ongoing analysis. It offers a simple plug-and-play functionality, flexible licensing options, and user-friendly interfaces that suit a range of needs. Additionally, it ensures compliance with sustainability guidelines, offering up to 30% energy saving potential.

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Which Regions Are Becoming Hubs for Energy Efficient Devices Market Innovation?
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.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Energy Efficient Devices Market?
2. What is the CAGR expected in the Energy Efficient Devices Market?
3. What Are the Key Innovations Transforming the Energy Efficient Devices Industry?
4. Which Region Is Leading the Energy Efficient Devices Market?

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