Residential Energy Management Market Which Is Set to $15,620.9 Million by 2019
Residential Energy Management Market categorizes the global REM market by platform as energy management platform, energy analytics, and customer engagement platform, by user interface as application, by communication technology, and by region.
Pune, India, September 22, 2015 (Newswire.com) - Residential Energy Management (REM) Market is any device or an integrated system which is capable of controlling the energy consuming devices in the home, that is, to identify the energy saving opportunities and evolve best practices for managing consumption of energy resources. REM supervises the energy consumption of all the devices that are used in the resident and also manages the energy intake.With the decrease in the natural resources there has been a demand for optimizing energy consumption and increasing energy efficiency. REM also identifies oppurtunities to save energy and provides information to the reisdents about it.
The necessity of REM has grown in recent years across the globe. There has also been a notable growth in the interest of the consumers in adoption of the technology for optimizing the use of energy. This has attracted many top players in the industry to invest in the new technology solution for REM. The Residential energy management market is expected to grow at a faster rate as both the regions NA and Europe are at the growth stage and they form the major market for REM. , British Gas, one of the U.K.’s leading energy service provider has signed up more than 1,00,000 customers for REM.
Download Free Sample Pages @ http://bit.ly/1LxUfll
North America (NA) region is one of the prime region for REM with repsect to the adoption of the technology. In 2014 the NA market has the largest market share of 41.87% followed by Europe. APAC and MEA are at the adoption stage of REM.
Major vendors dealing in the Residential energy management market include Elster Group, General Electric Company, Itron Incorporate, Landis+Gyr AG, Schneider Electric SE, Opower Incorporate, Silver Spring Network, Aclara Technologies LLC, AlertMe.com Ltd, Tendril Networks, Inc.
The Residential Energy Management (REM) global market is segmented by MarketsandMarkets in terms of platform such as Energy Management Platform (EMP), Energy Analytics and Customer Engagement Platform (CEP). The REM market is further segmented on the basis of User Interface Application such as Smart Appliances, Smart Meters, Smart Thermostat an In-House Displays. And by regions: North America (NA), Europe (EU), Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America (LA).
Resident buildings consume about 20-40% of the total energy intake of a country and therefore it forms a potential source of energy savings. Hence the need for an intelligent Energy management system for residential sector has come up to optimize the use of energy. An intelligent REM can cut down the extra usage of energy resources and also bring down the bills for the consumer. REM system has come up with smart devices like Smart applications, smart meters, smart thermostats, in-house display and many more that contribute in optimization use of energy.
The report draws the competitive landscape of the REM market, providing an in-depth comparative analysis of the technological and marketing strategies that the key players are adopting in order to gain an edge over their competitors. The report also includes the mergers and acquisition of top players that provide REM solutions. The key strategies followed by most companies in the REM market are innovative technologies, customized solutions and acquiring relatively small domain expert players. The leading players in this market are Elster, General Electric, Itron, Landis+Gyr, Schneider Electric, Opower and several others.
MarketsandMarkets forecasts the Residential Energy Management market to grow from $2,860.4 Million in 2014 to $15,620.9 Million by 2019, with a Compound Annual Growth Rate (CAGR) of 40.4%. In terms of regions, North America and Europe are expected to be the biggest markets in terms of revenue contribution, while Asia-Pacific, Middle East and Africa, and Latin America are expected to experience increased market traction, during the forecast period.