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.

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.

To Get Sample Copy of Report visit @ https://www.reportsanddata.com/sample-enquiry-form/2322

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.

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)

  • Customer Engagement Platform (CEP)
  • Energy Analytics
  • Energy Management Platform (EMP)

Component Outlook (Revenue, USD Billion; 2016-2026)

  • Sensors
  • Controllers
  • Software
  • Batteries
  • Display Devices
  • Others

Application Outlook (Revenue, USD Billion; 2016-2026)

  • Smart Appliances
  • Smart Plugs
  • Smart Meters
  • Load Control Switches
  • Smart Thermostat
  • In-House Displays

Communication Technology Outlook (Revenue, USD Billion; 2016-2026)

  • Wi-Fi
  • ZigBee
  • Z-Wave
  • Wireless M-Bus
  • Home Plugs
  • Threads
  • Others

Hardware Outlook (Revenue, USD Billion; 2016-2026)

  • Gateways
  • Load Control Switches (LCS)
  • Demand Response (DR) Devices
  • HVAC Control Devices

Regional Outlook (Revenue, USD Billion; 2016-2026)

  • North America
  1. S.

Europe

  1. UK
  2. France

Asia Pacific

  1. China
  2. India
  3. Japan

MEA Latin America

  1. Brazil

Browse Complete Report @ https://www.reportsanddata.com/report-detail/residential-energy-management-rem-market

Further key findings from the report suggest

  • Among the platforms, the energy management platform (EMP) accounted for the largest market share in the year 2018. Energy management platforms are customized based on the need to help residents to conserve energy and reduce costs. The platform helps to save energy and keep costs low in residential areas. Accurate and reliable metering systems enable easy monitoring and reporting of the building utilities, including gas, electric, and water.
  • Energy analytics is forecasted to witness the highest growth rate of 43.1% during the forecast period. The growing popularity of microgrids and smart grid systems, which enable firms to control, monitor, and analyze the grid functioning, will boost the demand for advanced analytics tools and techniques, such as the big data platform and cloud computing. The broad acceptance of these technologies is expected to drive the demand for analytics among the market players.
  • North America held the largest market share of ~30% in the year 2018. The adoption of the internet in the region is driving the market for residential energy management (REM). The region has adopted several advanced technologies at a very early stage. The companies in the region are focusing more on developing energy-efficient solutions for power consumption. High penetration of cloud technology will be another factor propelling the market in North America. Moreover, the region is a hub for significant market vendors who are increasingly launching new products in the market.

Request customization of the report @ https://www.reportsanddata.com/request-customization-form/2322

Thank you for reading our report. To receive further information on the report or to enquire about its customization, please get in touch with us and get your report tailored according to your needs.

Browse Related Reports –

Aluminum Conductor Steel Reinforced Cable (ACSR) Market Size

Aluminum-Air Battery Market Share

About Us:
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market.

Contact Us:
John W
Head of Business Development
40 Wall St. 28th floor New York City
NY 10005 United States
Direct Line: +1-212-710-1370