Industry Background:
The global Residential Energy Management market is expected to witness high demand in the forecasted period due to increasing applications such as lighting controls, HVAC controllers, programmable thermostats and self-monitoring systems. A residential energy management system is a technology platform consisting of both hardware and software that enables users to track energy use and output and manually control and/or automate energy use within a household. This is very beneficial as they manage the power utilization which can automatically decrease the utility bill.
This growth is primarily driven by The Increasing Inclination towards Efficient Energy Management and High Demand due to Requirements of Improvise Utility Sector Efficiency.
Globally, a noticeable market trend is evident Advanced Metering Infrastructure (AMI) Rollout
. The Energy & Resources sector in the North America region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Manufacturers, such as Schneider Electric SE (France), General Electric Company (United States), Comverge, Inc. (United States), Opower Inc. (United States), Elster Group(United States), EcoFactor, Inc. (United States), Itron Incorporation (United States), AlertMe.com Ltd (United States) and Landis+Gyr AG (Switzerland) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
On 14th October 2019, C3 IoT, Inc. and ENGIE announced the launch of smart institutions which is an AI-powered holistic Energy-as-a-Service software solution that is specially designed for large institutions. Through Smart Institutions, organizations can control their buildings and energy resources proactively and automatically to improve efficiency and reduce energy costs. This launch will help the company to provide better solutions and services to its customer
Market Drivers
- The Increasing Inclination towards Efficient Energy Management
- High Demand due to Requirements of Improvise Utility Sector Efficiency
Market Trend
- Advanced Metering Infrastructure (AMI) Rollout
- Rising Demand for Smart Homes
Restraints
- High Installation Cost Associated with Residential Energy Management
Opportunities
Growing Interest of Smart Appliances Manufacturers’ in REM Market and Integration of All the User Interface Appliances Over Smart Phones
Challenges
Lack of Support From Network Service Providers
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Manufacturers landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Residential Energy Management Study Sheds Light on
The Residential Energy Management Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Residential Energy Management industry Manufacturers. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Residential Energy Management industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Manufacturers can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.