DALLAS, April 28, 2015 /PRNewswire/ --
According to a new market research report "Residential Energy Management Market by Platform (Energy Management Platform, Energy Analytics, and Customer Engagement Platform), by User Interface Application, by Communication Technology, and by Region - Global forecast to 2019", published by MarketsandMarkets, The Residential energy management market was estimated to be valued at $2,860.4 Million in 2014 and reach $15,620.9 Million by 2019, with a Compound Annual Growth Rate (CAGR) of 40.4% between 2014 and 2019.
Browse 73 market data Tables and 47 Figures spread through 167 Pages and in-depth TOC on "Residential Energy Management Market - Global forecast to 2019"
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The Residential Energy Management (REM) global market is segmented by MarketsandMarkets in terms of platform such as Energy Management Platform (EMP), Energy Analytics and Customer Engagement Platform (CEP). The REM market is further segmented on the basis of User Interface Application such as Smart Appliances, Smart Meters, Smart Thermostat an In-House Displays. And by regions: North America (NA), Europe (EU), Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America (LA).
Resident buildings consume about 20-40% of the total energy intake of a country and therefore it forms a potential source of energy savings. Hence the need for an intelligent Energy management system for residential sector has come up to optimize the use of energy. An intelligent REM can cut down the extra usage of energy resources and also bring down the bills for the consumer. REM system has come up with smart devices like Smart applications, smart meters, smart thermostats, in-house display and many more that contribute in optimization use of energy.
The report draws the competitive landscape of the REM market, providing an in-depth comparative analysis of the technological and marketing strategies that the key players are adopting in order to gain an edge over their competitors. The report also includes the mergers and acquisition of top players that provide REM solutions. The key strategies followed by most companies in the REM market are innovative technologies, customized solutions and acquiring relatively small domain expert players. The leading players in this market are Elster, General Electric, Itron, Landis+Gyr, Schneider Electric, Opower and several others.
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MarketsandMarkets forecasts the Residential Energy Management Market to grow from $2,860.4 Million in 2014 to $15,620.9 Million by 2019. In terms of regions, North America and Europe are expected to be the biggest markets in terms of revenue contribution, while Asia-Pacific, Middle East and Africa, and Latin America are expected to experience increased market traction, during the forecast period.
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