Smart Home Energy Management Device Market - Overview
The management of energy remains an important debate
with consumption skyrocketing; thus, the Smart Home Energy Management Device Market 2020 is expected to
develop beneficially in the coming years. The semiconductor and electronics
industry reports are produced by Market Research Future, which highlights
market options for expansion.
An 18 % CAGR is expected to bolster the earning of
the market to USD 3 billion in the forecast period. The need to manage energy
consumption in households has become increasingly important due to the effects
of climate change; this, in turn, is expected to modify the smart home energy
management device market share in the coming years.
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Segmental Analysis
The segmental examination of the smart home energy
management device market is segmented by components, regions, and communication
technology.
On the basis of communication technology, the smart
home energy management device market is segmented into Z-Wave, ZigBee, Wi-Fi,
home plug, among others. The components based segmentation of the smart home
energy management device market is segmented into hardware, services, and
software. The hardware segment is additionally sub-segmented into power
management devices, sensors, display units, smart controllers, smart meter, and
others. The service sub-segment in the market is divided into managed and
professional service.
Based on the regions, the smart home energy
management device market includes regions such as North America, Asia Pacific,
Europe, and other regions.
Detailed Regional Analysis
The evaluation of the regions in the smart home
energy management device market includes North America, Asia Pacific, Europe,
and other regions.
The study makes the observation that the North
American region is responsible for the larger share of the global market. The
incidence of major players in the region who are creating well-organized,
expedient, and cost-effective HEM products and solutions are expected to aid in
the dominance of the North American region in this market. The Asia Pacific
region is projected to demonstrate the top growth prospects in the smart home
energy management device market due to the escalating purchasing power of the
public, development of the economies in the region.
Competitive Analysis
The influence of global trade policies by various
administrations is expected to further enhance the market expansion potential
in the forecast period. The momentum of change in the market is predicted to
create new opportunities for growth in the forecast period. The availability of
new sources of raw material is likely to induce more opportunities for growth
in the market. The streamlining of the distribution channels is expected to
create better supply chains and lead to a more positive effect on the global
market. The inclusion of certain elements of functionality in production
facilities is likely to create better supply potential for the overall market.
The effect of global currencies is expected to have a significant effect on
market growth. The upsurge in exports is expected to create a constructive
situation for expansion in the coming period. The inventions being discovered
or attempted in the market are also considered to provide further opportunities
for growth in the coming period.
The top-most players in the smart home energy
management device market are C3 Energy (U.S.), Energate Inc. (Canada),
Trilliant (U.S.), Honeywell (U.S.), Nest Labs (U.S.), Aclara (U.S.), Logitech
(U.S.), Icontrol Networks (U.S.), Energyhub, Inc. (U.S.), Panasonic Corporation
(Japan), General Electric Company (U.S.), Alarm.com (U.S.), Ecofactor (U.S.),
Trilliant (U.S.), Comcast Cable (U.S.), Ecobee (Canada) among others.
Industry Updates:
Mar 2020 Evervolt energy storage system has been
launched by Panasonic, which is unique as it is offered in an AC and DC design
that optimizes the energy flow involving the battery, the solar system, and the
home. When set up in a novel home, the DC version of Evervolt allows rooftop
solar generation to gush straight into the batteries with no extra losses that
come with converting the power to AC first, then reverse to DC again for
storage.
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