The global residential energy management market is estimated to witness growth at a CAGR of ~13% over the forecast period, i.e., 2022 – 2030. The market is estimated to grow on the back of growing adoption of energy management systems amongst various end-user industries, along with the growing awareness regarding energy conservation. Households are a major consumer of electricity, through various electrically powered appliances. Air conditioners, and room heaters are some of the main appliances found in residential buildings. The increasing need to reduce wastage of power, and optimization of energy utilization, are projected to boost the market growth. The growing global population is another crucial factor expected to strengthen the market growth.

Research Nester published a report titled “Residential Energy Management Market: Global Demand Analysis & Opportunity Outlook 2030″ which delivers detailed overview of the global residential energy management market in terms of market segmentation by component, communication technology, application, and by region.

Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.

The global residential energy management market is segmented on the basis of application into power monitoring & control, load shedding & management, flexible load management, and others. The power monitoring & control segment, out of all the segments, is anticipated to hold the notable market share over the forecast period on account of growing demand for power monitoring systems to curb the overall power consumption in households. The HVAC systems in residents primarily require monitoring and control of power supply, which is estimated to boost the market growth.

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On the basis of geographical analysis, the global residential energy management market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Asia Pacific region is estimated to witness noteworthy growth over the forecast period on the back of government initiatives to regulate energy wastage, along with increasing residential development and rapid urbanization, backed by growing population.

The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.

Rising Need to Monitor Power Consumption to Boost the Market Growth

Energy management software are gaining acceptance owing to the rising awareness amongst people to conserve energy. Residential energy management system monitors the consumption of energy in a household and reduce energy cost. Such factors are estimated to boost the market growth.

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However, requirement of high initial investment is expected to operate as key restraint to the growth of the global residential energy management market over the forecast period.

This report also provides the existing competitive scenario of some of the key players of the global residential energy management market which includes company profiling of Siemens AG, C3.ai, Inc., GridPoint, Inc., Schneider Electric, The General Electric Company, DEXMA Sensors, SL, Johnson Controls International plc, Honeywell International Inc., Energate, Inc. (Tantalus Systems Corp.), and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global residential energy management market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

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