The global home energy management market is growing at a CAGR of

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Dallas, Texas, USA, November 24, 2021 (GLOBE NEWSWIRE) – Global Home Energy Management Market is estimated from $ 2,880 million in 2020 to $ 8,730 million by 2027, at a CAGR of 15.6%.

The global home energy management system market is expected to grow rapidly in the coming years. The concept of house energy management system solutions has evolved over time and is now a valuable part of every family. The increase in electricity prices combined with the increased need for decentralized energy generation is expected to increase the demand for this product.

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Key characters

Key Players in Home Energy Management Market Analysis Honeywell International, Inc., General Electric Company, Panasonic Corporation, Cisco Systems Inc., Nest Labs, Inc., Vivint Inc., Schneider Electric SA, Comcast Cable Communications, LLC (Xfinity) , EcoFactor, Inc., Energyhub, Inc

Market segmentation analysis

Based on the product type, the market is segmented into lighting controls, self-monitoring systems and services, programmable communicating thermostats, advanced central controls, and intelligent HVAC controls. The Self-Monitoring Systems and Services segment has the largest market share in the forecast period.

Effects of COVID-19 on the Home Energy Management Market

The COVID-19 pandemic had a significant impact on the global economy, causing work and travel restrictions, supply chain and production disruptions, and a decline in demand and spending in a variety of industries. A sharp decline in infrastructure development and installation projects should curb market growth for home energy management.

The construction business is expected to see a sharp decline this year due to the ongoing COVID-19 issues. However, a gradual recovery is expected next year. It is also forecast that the construction market will face numerous obstacles that will lead to the COVID-19 crisis and stagnation in many countries. The lack of electronic components is a problem.

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Market segmentation

from Product Type

  • Lighting control
  • Self-monitoring systems and services
  • Programmable communicating thermostats
  • Advanced central controller
  • Intelligent HVAC controls

By region

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East & Africa

Regional analysis

The Americas, Asia-Pacific, and Europe, Middle East, and Africa markets were studied based on the region. North America is expected to have the largest share of sales. It is expected that the widespread use of Home Energy Management solutions combined with the expanded knowledge of this technology will increase demand in North America. However, with increasing knowledge and increasing disposable income, it is expected that home energy management systems in the Asia-Pacific region will grow rapidly during the study period.

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