CHICAGO, April 18,
2024 /PRNewswire/ -- Arizton's latest research
report shows that the US home energy management systems
market is growing at a CAGR of 15.12% from
2023-2029.
To Know More, Click:
https://www.focusreports.store/report/us-home-energy-management-systems-market-focused-insights
The US Home Energy Management Systems
Market Report Scope
Report
Attributes
|
Details
|
Market Size
(2029)
|
$2.81
Billion
|
CAGR
(2023-2029)
|
15.12 %
|
Historic
Year
|
2020-2022
|
Base
Year
|
2023
|
Forecast
Year
|
2024-2029
|
The US home energy management systems market is
witnessing a surge in demand for various hardware, software, and
services, driven by several emerging trends. Notably, the
sustainable home energy management system trend is gaining
momentum, fueled by eco-friendly solutions. This growth is
propelled by increasing awareness of environmental challenges like
climate change and resource depletion. Major industry players
actively develop diverse solutions to align with this
sustainability trend. For instance, in 2023, Schneider Electric
introduced home energy management systems integrating EV charging,
storage, solar, and appliances.
Among the market segments, hardware holds the
largest share in home energy management systems, with expectations
for further growth in the forecast period. Smart meters play a
crucial role in this segment, offering real-time data on
electricity usage and valuable insights into energy consumption
patterns. Additionally, thermostats, lighting control systems,
smart plugs, and grids are gaining popularity among consumers.
US Home Energy Management Systems Market by Single Family
Houses to Contribute more than $2
Billion by 2029
In recent years, the demand for home energy
management systems in single-family houses has surged, driven by
several compelling factors. Users are increasingly drawn to these
systems as they strive to curtail utility expenses, trim energy
consumption, and embrace eco-friendly, sustainable living
practices. There are several reasons fueling the demand for these
systems in individual homes. With escalating energy prices,
households are keenly aware of their utility bills. Home energy
management systems step in to regulate energy usage effectively,
enhancing efficiency and cutting costs. They offer intelligent
control over lighting, cooling, heating, and appliance usage,
thereby optimizing energy consumption.
Furthermore, mounting concerns about climate
change and environmental sustainability are prompting users to seek
ways to shrink their carbon footprint. Home energy management
systems emerge as pivotal players in this scenario, promoting
energy efficiency and facilitating the integration of renewable
energy sources like solar panels. With increasing energy costs in
the US, individuals are increasingly motivated to explore avenues
for managing and minimizing their energy bills. Home energy
management systems emerge as a viable solution by providing
invaluable insights into energy consumption patterns and
recommending strategies to mitigate expenses. These compelling
factors collectively drive the growth of the single-family houses
segment in the home energy management systems market.
Future Analysis
Startups are making significant strides in the
Home Energy Management Systems (HEMS) market, bringing agility and
innovation to the forefront. They introduce fresh perspectives and
drive technological advancements by developing new features,
integrating cutting-edge technologies like artificial intelligence
and machine learning, and creating user-friendly interfaces.
Silicon Valley startup Bidgely, a leader in "energy AI," offers
solutions such as home energy reports, leveraging AI analysis of
meter data to provide insights that can reduce energy costs by up
to 25%. Startups diversify the market by offering HEMS solutions
tailored to various consumer needs, fostering healthy competition
and innovation. They often collaborate with established companies,
utilities, and stakeholders in the energy ecosystem to develop
integrated solutions and expand market reach. Sight Machine, a
San Francisco-based startup,
exemplifies this trend by collaborating with major companies like
General Mills and Microsoft to offer enterprise software that
enhances real-time production processes, driving increased output
and sustainability.
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Segmentation & Forecast
Component
- Hardware
- Software
- Services
Technology
- Wireless Protocols
- Wired Protocols
- Hybrid
Residence
- Single Family Houses
- Multifamily Houses
Application
- New Construction
- Retrofit
Vendors List
- Honeywell International
- General Electric
- Panasonic
- Robert Bosch
- Comcast
- Alphabet
- Schneider Electric
- Alarm.com
- JOHNSON CONTROLS
- Vivint
- Ecobee
- EnergyHub
- EcoFactor
- LG
- Hitachi
- Toshiba
- Xiaomi
- TP-Link
- NETATMO
- CENTRICA
- FIBARO
- ABB
- Itron
- Landis+Gyr
- BELKIN
- NXP Semiconductors
- Oracle Corporation
- Cisco Systems, Inc.
- Intel Corporation
- Rockwell Automation Inc.
- SAP SE
- Wise Home Solutions
- Crestron
- ADT
- TADO
- AMAZON
- Siemens AG
- Control4
Key Questions Answered in the Report:
How big is the U.S. home energy management systems (HEMS)
market?
What is the growth rate of the U.S. home energy management
systems (HEMS) market?
What are the key drivers of the U.S. home energy management
systems (HEMS) market?
Who are the major players in the U.S. home energy management
systems (HEMS) market?
Table of Contents
CHAPTER – 1: U.S. Home Energy Management System Market
Overview
- Executive Summary
- Key Findings
- Key Development
CHAPTER – 2: U.S. Home Energy Management System Market
Segmentation Data
- Component Market Insights (2023-2029)
- Hardware
- Software
- Services
- Technological Market Insights (2023-2029)
- Wireless Protocols
- Wired Protocols
- Hybrid
- Residence Market Insights (2023-2029)
- Single Family Houses
- Multifamily Houses
- Application Market Insights (2023-2029)
- New Construction
- Retrofit
CHAPTER – 3: U.S. Home Energy Management System Market
Prospects & Opportunities
- U.S. Home Energy Management System Market Drivers
- U.S. Home Energy Management System Market Trends
- U.S. Home Energy Management System Market Constraints
CHAPTER – 4: U.S. Home Energy Management System Market
Overview
- U.S. Home Energy Management System Market- Competitive
Landscape
- U.S. Home Energy Management System Market - Key Players
- U.S. Home Energy Management System Market - Key Company
Profiles
CHAPTER – 5: Appendix
- Research Methodology
- Abbreviations
- Arizton
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