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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