The Asia Pacific Home Energy Management Market would witness market growth of 21.22% CAGR during the forecast period (2021-2027).
The home energy management system is equipped with five sub-products that are self-monitoring systems, lighting control, programmable communicating thermostats, advanced central controllers, and intelligent HVAC controllers. In addition, the system has the capability to connect with other devices to enable monitoring and management. With the automated energy consumption management, home energy management systems offer an opportunity to its users to eliminate the time that would be consumed in configuring the system settings. With a variety of applications, home management systems come with different potentials. These advanced systems, in accordance with the aspect they are designed to work on, help users to conveniently manage these systems.
APAC is witnessing a rising number of ongoing technological advancements as well as it is a region with a constantly growing population. APAC also includes a lot of developing countries like India, China, and Japan. As a result, the demand for energy is very high in these countries. The Government of Singapore is determined toward eliminating greenhouse gases emission by reducing the usage of carbon-intensive fuels. In such a scenario, the demand for a solution to generate energy through natural resources would increase. Moreover, a massive population in India and China is putting immense pressure on the governments to increase the energy supply.
The China market dominated the Asia Pacific Home Energy Management Market by Country in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $486.8 million by 2027. The Japan market is estimated to witness a CAGR of 22.3% during (2021 - 2027). Additionally, The India market would exhibit a CAGR of 22.3% during (2021 - 2027).
Based on Product Type, the market is segmented into Lighting Controls, Programmable Communicating Thermostats, Advanced Central Controllers, Intelligent HVAC Controllers, and Self-Monitoring Systems and Services. Based on Technology, the market is segmented into Ethernet, Z-Wave, ZigBee, Wi-Fi, and Other technologies. Based on Offering, the market is segmented into Software, Services, and Hardware. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Home Energy Management Market is Projected to reach USD 7,157.36 million by 2027, at a CAGR of 19.70%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Schneider Electric SE, General Electric (GE) Co., Intel Corporation, Honeywell International, Inc., Panasonic Corporation, Google LLC, Comcast Corporation, Vivint Smart Home, Inc., Alarm.com Holdings, Inc., and Generac Holdings, Inc.
By Product Type
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