As per this study the Global Smart Home Energy Management Device Market was valued USD XX BN (by revenue) in 2021 and is anticipated to reach USD XX BN by 2027 with a CAGR of XX%.
Smart home energy management (SHEM) device refers to a system that monitors and control energy usage (manually and automatically)of the appliances used for the household purpose. It comprises both hardware and software that tracks and monitors real-time energy usage, load management and related price signal leading to energy and cost saving in an effective manner. It mainly includes sensors, smart meters, smart appliances, display units, smart controllers and power management devices.
Rising adoption of smart home and smart devices for better energy utility is driving the market growth. The shift in customer preference towards energy management devices to track and control energy usage and related cost is further boosting the market demand. Also, rising demand for energy efficient devices that uses interconnectivity technology is likely to spur the market demand in the forecasting period. However, high cost associated with implementation is presumed to restrain the market growth.
This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter’s five forces analysis, market attractiveness analysis and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of smart home energy management device.
The broad smart home energy management device market has been sub-grouped into component and communication technology. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.
By Communication Technology
- Power Management Devices
- Smart Meter
- Display Units
- Smart Controllers
- Professional Service
- Managed Service
Furthermore, the report comprises of the geographical segmentation, which mainly focuses on current and forecast demand for smart home energy management device in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.
Global Smart Home Energy Management Device Market Share by Region (Representative Graph)
The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the smart home energy management device market include Aclara, Alarm.Com, C3 Energy, Comcast Cable, Ecobee, Ecofactor, Energate Inc., Energy Hub, Inc., General Electric Company, Honeywell, I Control Networks, Logitech, Nest Labs, Panasonic Corporation and Trilliant. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.
A combination of primary and secondary research has been used to determine the market estimates and forecasts. Sources used for secondary research include (but not limited to) Paid Data Sources, Company Websites, Technical Journals, Annual Reports, SEC Filings and various other industry publications. Specific details on methodology used for this report can be provided on demand.