Smart Home Energy Management Device Market: By Components (Hardware, Software, Services), By Hardware (Power Management Devices, Smart Meter, Display Units), By Communication Technology (ZigBee, Z-Wave, Home Plug, Wi-Fi) – Global Forecast till 2023
Pune, India - July 30, 2018 /MarketersMedia/ —
Smart Home Energy Management Device Market - Overview
The Global Smart Home Energy Management Device market is growing with the rapid pace; mainly due to increasing real-time energy conservation approach, accessibility of cloud computing and data analytics. According to a recent study report published by the Market Research Future, the global market of Smart Home Energy Management Device is booming and expected to gain importance over the forecast period. The global Smart Home Energy Management Device Market is expected to grow at a CAGR of approximately 18% during the forecast period 2017-2023.
Considering the total electricity demand, the energy consumption is an important concern. The energy used in homes accounts for a significant part of the total energy consumption. Especially the residential building account for large part of the energy demand. The Home energy management system that is based on Zigbee communication allows the households to regulate power of the smart devices after receiving a signal from the service provider. The awareness regarding energy consumption, and the efforts taken for energy conservation are driving the smart home management device market. On the other hand, the high costs, low standardization are some of the restraining factors in the home energy management device market.
Industry News
Feb 2018- Particle, widely used Internet of Things (IoT) platform has announced Particle Mesh, its next generation hardware unlocking developer access to mesh networking technology. The Particle Mesh, networks would cover more ground and capture more data with higher reliability at a reduced cost that would ultimately make IoT solutions more intelligent.
Feb 2018- People Power, the internet of things (IoT) software company that provides white-label solutions for home security, energy and care services. People Power has announced the company’s Pro Energy 2.0 offering designed to help energy service providers deliver greatly improved demand response (DR) initiatives, energy-centric connected home solutions, and the management of large scale consumer IoT deployments.
June 2017 - Energate Inc., the leader in ZigBee SEP interactive energy management solutions that enable the Utility Internet of Things (IoT) next-generation energy management and the connected home. Energate is going to deliver its LC2200 load switches using the secure ZigBee Smart Energy Profile providing two-way communications via PG&E’s existing ZigBee enabled meters.
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Smart Home Energy Management Device Market - Competitive Analysis
The Market of Smart Home Energy Management Device appears to be highly competitive. Innovation is ongoing, market leaders are innovating continuously and increasingly seeking market expansion through various strategic mergers and acquisitions, innovation, increasing investments in research and development and cost-effective product portfolio. Major players are investing on internal R&D and, most of all, in acquiring other firms. The utility firms are funding more elegant efforts for on-request load reduction in the residential sector. CPS Energy of San Antonio, Texas has partnered with Consert Inc. to demonstrate a load reduction system that can alter air conditioner and water heater set points and pool pump operation at the end-user facility during peak load times to enable substantial peak savings with limited impact on their customers. Many companies have recently incorporated web-based user interfaces, for a homeowner to adjust thermostat settings and other features from a smartphone.
Aclara (U.S.), Energate Inc. (Canada), Trilliant (U.S.), Honeywell (U.S.), Nest Labs (U.S.), Logitech (U.S.), Icontrol Networks (U.S.), C3 Energy (U.S.), Energyhub, Inc. (U.S.), Trilliant (U.S.), General Electric Company (U.S.), Panasonic Corporation (Japan), Alarm.com (U.S.), Ecofactor (U.S.), Comcast Cable (U.S.), Ecobee (Canada) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Smart Home Energy Management Device Market.
Smart Home Energy Management Device Market - Segmentation
Segmentation By Components: Comprises hardware- sensors, power management devices, smart meter, display units, smart controllers and others, Software, services- managed and professional services
Segmentation By Communication Technology: Comprises Z-wave, ZigBee, Wi-Fi and others
Segmentation By Regions: Comprises Geographical regions - North America, Europe, Asia Pacific and Rest of the World.
Smart Home Energy Management Device Market - Regional Analysis
North America is dominating the Global Smart Home Energy Management Device Market with the largest market share mainly due to the development of smart cities projects and focus towards energy conservation. Smart Home Energy Management Device Market in Asia Pacific market is expected to grow at a substantial CAGR during 2016 to 2022 owing to the increasing awareness towards energy savings. The European market for Smart Home Energy Management Device Market is expected to grow at a considerable CAGR (2016-2022) due to the increasing adoption of home automation.
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Source: MarketersMedia
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