The global residential energy management (REM) market is forecast to reach USD 107.42 Billion by 2026, according to a new report by Reports and Data. Energy management systems are implemented to save energy by reducing energy consumption. The demand for energy management systems in the residential sector is increasing at a high rate. REMS allows residents to significantly reduce utility costs across the board, including cooling, heating, lighting, and water. The system tracks detailed usage over time and stores it within its centralized digital repository so that the residents can always have access to the building’s historical energy data. This allows them to budget better for energy usage based on time of year, weather, and so on.
The growing adoption of smart grid services is another factor driving the market. Several government regulations and policies across the globe on the utilization of renewable energy and reduction of carbon emissions are the fundamental factors driving the popularity of smart grids. Moreover, the rise in power outages and high costs associated with it is regulating the need for better and efficient energy management solutions for residential applications. This shift will lead to the need for energy management systems to monitor the power consumption and help the industry to gain valuable information on their functioning.
Key participants include General Electric Company, Elster Group, Landis+Gyr AG, Itron Incorporate, Opower Incorporate, Schneider Electric SE, Aclara Technologies LLC, Silver Spring Network, Tendril Networks, Inc., and AlertMe.com Ltd, among others.
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For the purpose of this report, Reports and Data have segmented into the global Residential Energy Management (REM) market on the basis of platform, component, communication technology, application, hardware, and region:
Platform Outlook (Revenue, USD Billion; 2016-2026)
Component Outlook (Revenue, USD Billion; 2016-2026)
Application Outlook (Revenue, USD Billion; 2016-2026)
Communication Technology Outlook (Revenue, USD Billion; 2016-2026)
Hardware Outlook (Revenue, USD Billion; 2016-2026)
Regional Outlook (Revenue, USD Billion; 2016-2026)
Further key findings from the report suggest
Table of Content:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2018-2026
Chapter 3. Indicative Metrics
Chapter 4. Residential Energy Management (REM) Market Segmentation & Impact Analysis
4.1. Residential Energy Management (REM) Market Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
126.96.36.199. Increasing investments in research and development of energy efficiency solutions
188.8.131.52. The growing popularity of smart grid services
184.108.40.206. Growing adoption of advanced technologies like IoT, Cloud Services, and AI in the construction industry
4.2.3. Market restraints analysis
220.127.116.11. Expensive deployment costs
4.3. Technological Insights
4.4. Regulatory Framework
4.5. ETOP Analysis
4.6. Porter’s Five Forces Analysis
4.7. Competitive Metric Space Analysis
4.8. Price trend Analysis
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