Government Energy Efficiency Initiatives Driving Growth In The Energy-Efficient Lighting Market: The Driving Engine Behind Energy Efficient Devices Market Evolution in 2025

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Energy Efficient Devices Market Size Growth Forecast: What to Expect by 2025?
In recent times, there has been a swift expansion in the market size of energy-efficient devices. The market is projected to grow from $1095.47 billion in 2024 to $1214.37 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 10.9%. The significant growth witnessed in the past can be associated with government policies, advancements in technology, increasing energy expenses, environmental consciousness, and consumer demand.

How Will the Energy Efficient Devices Market Size Evolve and Grow by 2029?
Rapid expansion is predicted in the energy efficient devices market in the upcoming years, with forecasts suggesting it will escalate to $1840.03 billion in 2029, demonstrating a compound annual growth rate (CAGR) of 10.9%. The surge during the forecast period is expected to be a result of the rising use of smart home devices, increments in energy management systems, the development of the electric vehicle infrastructure, utilization of blockchain technology for tracking energy efficiency, and the advent of energy-efficient appliances. The projection period is likely to showcase trends such as the incorporation of the Internet of Things (IoT), the application of artificial intelligence (AI), the inclusion of renewable energy, development of the smart grid, and the tightening of energy efficiency standards.

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What Drivers Are Propelling the Growth of Energy Efficient Devices Market Forward?
The expansion of the energy-efficient devices market is anticipated to be propelled by the government's energy-efficiency initiatives. These initiatives include any programs, policies, or actions that aim to minimize energy usage and enhance energy efficiency. The government plays a key role in promoting energy-efficient devices by setting standards, promoting adoption, raising consciousness, supporting research and innovation, implementing building codes, and fostering collaboration across various sectors. To illustrate, the Department for Energy Security and Net Zero, a government department in the UK, reported that approximately 318,600 energy efficiency implementations were installed via government schemes in 2023, marking a 49% increase from 2022. As a result, the government's commitment to energy-efficiency is significantly contributing to the growth of the energy-efficient devices market.

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What Long-Term Trends Will Define the Future of the Energy Efficient Devices Market?
Leading firms in the energy-efficient device market are focusing on the creation of innovative products equipped with cutting-edge technologies such as Smart IoT solutions, to improve their market profitability. The importance of Smart IoT solutions spans across numerous sectors, including residences, buildings, industries, and cities, to promote energy efficiency, aiding in sustainability and environmental preservation. For example, Siemens AG, a German energy technology and manufacturing corporation, introduced the Connect Box in March 2023. This IoT solution, designated for small to medium-sized buildings, effortlessly amalgamates wired and wireless devices. It optimizes energy consumption, monitors performance, and enhances indoor air quality through real-time analysis. The Connect Box offers a flexible setup, a variety of licensing options, and easy-to-use interfaces that meet a wide range of needs while adhering to sustainability regulations, resulting in energy savings of up to 30%.

What Are the Key Segments in the Energy Efficient Devices Market?
The energy efficient devicesmarket 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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Who Are the Key Players Shaping the Energy Efficient Devices Market's Competitive Landscape?
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 Geographic Markets Are Powering Growth in 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.

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