The Worldwide Residential Energy Management Industry is Projected to Reach $4.1 Billion by 2025

DUBLIN, Feb. 19, 2021 /PRNewswire/ -- The "Residential Energy Management Market by Component (Hardware (RTU, Relays, LCS, DR devices, Control Devices, In-house Displays), Software(EMP, Energy Analytics, CEP); Communication Technology (Wired, Wireless); Application; Region - Global forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The global residential energy management market is projected to reach USD 4.1 billion by 2025 from an estimated USD 2.2 billion in 2020, at a CAGR of 12.9% during the forecast period.

The market's growth in is mainly driven by investments in smart grid and the upgrade of the existing power infrastructures focus on energy efficiency and the replacement of aging infrastructure. Moreover, upcoming smart city projects in developing economies provide opportunities for the residential energy management market in this region creates a lucrative opportunity for the market. Furthermore, high initial costs related to deploying residential energy management systems,need for ensuring privacy and security of residential consumer data is likely to hamper the growth of the residential energy management market.

The flexible load management, by application, is expected to be the fastest-growing market from 2020 to 2025.

The residential energy management market has been segmented based on component into power monitoring & control, load shedding & management, and flexible load management. The flexible load management is projected to be the fastest market owing to the need for the reduction of stress on the electricity grid during peak periods and enabling building systems to act as distributed energy assets for the grid to achieve significant cost savings. North America is expected to hold the largest flexible load management market.

The wired segment is projected to witness a larger market share than the wireless segment from 2020 to 2025.

Based on communication technology, the residential energy management market has been segmented into wired and wireless. The wired segment accounted for a larger market share in 2019. Wired communication technology transmits large volumes of data, analyzes the data, and provides actionable information for grid operators. The growth of this wired communication technology segment is attributed to its increased security, lack of interference, and high speed. The most commonly used wired communication technology is fiber optic, which is expected to witness a high CAGR during the forecast period.

North America is estimated to lead the residential energy management market during the forecast period.

North America is estimated to be the largest market for residential energy management during the forecast period. For the market analysis, the region has been segmented into US, Canada, and Mexico. The demand for residential energy management in this region is driven by increasing investments in grid expansion projects to increase energy efficiency, grid reliability and increased power consumption residential sector.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary
3.1 Scenario Analysis
3.1.1 Optimistic Scenario
3.1.2 Realistic Scenario
3.1.3 Pessimistic Scenario

4 Premium Insights
4.1 Attractive Opportunities in Residential Energy Management Market
4.2 Residential Energy Management Market, by Region
4.3 Residential Energy Management Market in Asia-Pacific, by Application & Country
4.4 Residential Energy Management Market, by Component
4.5 Residential Energy Management Market, by Communication Technology

5 Market Overview
5.1 Introduction
5.2 COVID-19 Health Assessment
5.3 Road to Recovery
5.4 COVID-19 Economic Assessment
5.5 Market Dynamics
5.5.1 Drivers
5.5.1.1 Rising Energy Consumption in Residential Sectors of Oced and Non-Oced Nations
5.5.1.2 Government Initiatives and Policies Toward Energy Efficiency in Residential Buildings
5.5.2 Restraints
5.5.2.1 High Initial Costs Related to Deploying Residential Energy Management Systems
5.5.2.2 Need for Ensuring Privacy and Security of Residential Consumer Data
5.5.3 Opportunities
5.5.3.1 Increasing Investments for Modernizing Aging Grid Infrastructures
5.5.3.2 Upcoming Smart City Projects in Developing Economies Enhance Growth in Residential Sector
5.5.4 Challenges
5.5.4.1 Interoperability of Residential Energy Management Systems
5.5.4.2 Impact of COVID-19 on Manufacture of Residential Energy Management Systems
5.6 Yc-Ycc Shift
5.6.1 Revenue Shift for Residential Energy Management
5.7 Market Map
5.8 Supply Chain Analysis
5.8.1 Original Device Manufacturers
5.8.2 Energy Platform Vendors
5.8.3 System Integrators
5.9 Porter's Five Forces Analysis
5.9.1 Threat of New Entrants
5.9.2 Threat of Substitutes
5.9.3 Bargaining Power of Suppliers
5.9.4 Bargaining Power of Buyers
5.9.5 Intensity of Rivalry
5.10 Technology Analysis
5.11 Residential Energy Management: Patent Analysis
5.11.1 Innovations & Patent Registrations
5.12 Tariff and Regulatory Landscape
5.13 Case Study Analysis
5.13.1 Residential Energy Management for Energy Market
5.13.1.1 Abb Upgrades Landmark Buildings in Zaragoza's Smart City Project with Energy Monitoring System
5.13.1.1.1 Problem Statement: February 2019
5.13.1.1.2 Solution Statement

6 Impact of COVID-19 on Residential Energy Management Market, Scenario Analysis, by Region
6.1 Introduction
6.1.1 Impact of COVID-19 on GDP
6.1.2 Optimistic Scenario
6.1.3 Realistic Scenario
6.1.4 Pessimistic Scenario

7 Residential Energy Management Market, by Component
7.1 Introduction
7.2 Hardware
7.2.1 Remote Terminal Units
7.2.1.1 Need for Voltage Regulation, Advanced Fault Detection, and Automating Power Restoration is Expected to Drive Market
7.2.2 Relays
7.2.2.1 Rising Awareness Regarding Potential Power Wastes and Optimization of Energy Consumption
7.2.3 Load Control Switches
7.2.3.1 Need for Managing Energy Usage at Times of Peak Demand is Leaky to Drive Market for Lcs
7.2.4 Demand Response Devices
7.2.4.1 Demand for Controlling High-Energy Appliances is Expected to Boost Market Growth
7.2.5 Control Devices
7.2.5.1 Reduced Long-Term Energy Costs Offered by Control Devices Are Driving Market
7.2.6 In-House Displays
7.2.6.1 Ease of Connectivity Offered by Smart Devices is Fueling Market Growth
7.3 Software
7.3.1 Energy Management Platform
7.3.1.1 Emp Handles Large Quantities of Energy Data and Analyzes It on Real-Time Basis
7.3.2 Energy Analytics
7.3.2.1 Energy Analytics Have Potential to Improve Grid Reliability by Monitoring Frequency and Duration of Power Outages
7.3.3 Customer Engagement Platform
7.3.3.1 Rising Customer Satisfaction and Loyalty while Increasing Customer Participation in Home Energy Efficiency Programs

8 Residential Energy Management Market, by Communication Technology
8.1 Introduction
8.2 Wired Communication Technology
8.2.1 Fiber Optic
8.2.1.1 Increasing Investments for Data Transfer in Utilities Drive Growth of this Segment
8.2.2 Ethernet
8.2.2.1 High Level of Security and Reliability Offered Are Driving Market for this Segment
8.2.3 Powerline Carrier
8.2.3.1 High Insulation Level of High-Voltage Power Lines for Transmission of Data
8.2.4 Ip
8.2.4.1 Cost-Effectiveness and Security for Data Transfer in Utilities
8.3 Wireless Communication Technology
8.3.1 Radio Frequency Mesh
8.3.1.1 Ability to Manage Huge Amounts of Traffic from Multiple Devices
8.3.2 Cellular Network
8.3.2.1 Increasing Investments in Introduction of 5G Technology
8.3.3 Wimax
8.3.3.1 Ability to Support High-Speed Data Transfer Over Long Distances

9 Residential Energy Management Market, by Application
9.1 Introduction
9.2 Power Monitoring & Control
9.2.1 Rising Need for Effective Utilization of Power Resources is Expected to Drive Market
9.3 Load Shedding & Management
9.3.1 Increasing Grid Reliability by Avoiding System Outages is Expected to Boost Market Growth
9.4 Flexible Load Management
9.4.1 Growing Need of Consumers to Shift Energy Usage to Off-Peak Times is Expected to Drive Market

10 Residential Energy Management Market, by Region
10.1 Introduction
10.2 North America
10.3 Europe
10.4 Asia-Pacific
10.5 South America
10.6 Middle East & Africa

11 Competitive Landscape
11.1 Overview
11.2 Revenue Analysis of Top 5 Market Players
11.3 Market Share Analysis, 2019
11.4 Competitive Scenario
11.5 Company Evaluation Quadrant
11.5.1 Stars
11.5.2 Emerging Leaders
11.5.3 Pervasive
11.5.4 Participants
11.6 Company Evaluation Matrix, 2019
11.7 Competitive Leadership Mapping of Start-Ups
11.7.1 Progressive Companies
11.7.2 Responsive Companies
11.7.3 Starting Blocks
11.7.4 Dynamic Companies
11.8 Key Market Developments
11.8.1 Product Launches
11.8.2 Investments & Expansions
11.8.3 Mergers & Acquisitions
11.8.4 Partnerships, Collaborations, Alliances, and Joint Ventures

12 Company Profiles
12.1 ABB
12.2 Eaton
12.3 Schneider Electric
12.4 Honeywell International
12.5 Landis+Gyr
12.6 General Electric
12.7 Siemens
12.8 Itron
12.9 Emerson
12.10 Bosch
12.11 Span.Io
12.12 Lumin
12.13 Racepoint Energy
12.14 Appartme
12.15 Uplight
12.16 Wattics Ltd
12.17 Tantalus Systems Corp.
12.18 Sunverge Energy, Inc
12.19 Koben Systems Inc.
12.20 Neosilica
12.21 Tantalus Systems Corp.

13 Appendix
13.1 Insights of Industry Experts Ss
13.2 Discussion Guide
13.3 Knowledge Store: The Subscription Portal
13.4 Available Customizations
13.5 Related Reports
13.6 Author Details

For more information about this report visit https://www.researchandmarkets.com/r/covcyo

Media Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected]

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

SOURCE Research and Markets