Technavio Evaluates the Energy Crisis in Europe: Supply crunch and high costs
European nations are struggling through an energy crisis since April, arising from several factors such as high demand post the rebound from the pandemic. In addition, low wind output coupled with the region’s high dependence on gas and renewables has led to a severe shortage of energy which has led to a significant increase in cost. Carbon prices in Europe have nearly trebled this year as the European Union reduces the supply of emissions credits. There are several other contributing factors at play such as the unavailability of nuclear power plants in the region.
Home Energy Management Systems Market (HEMS) are being installed in residential buildings to enable the provision of feedback on electricity consumption patterns and power consumption data for individual appliances. These systems perform pre-programmed functions, such as maintaining the temperature of houses. In addition, HEMS not only provide demand-response prompts from utility loads but also provide data about loads generated by microgrids so that consumer can monitor and modify their consumption patterns.
Technavio’s market research reports delve deep into the factors leading to the energy crisis and the resultant impact on related markets. A detailed understanding of these issues can enable our clients to leverage interventions and solutions which can help alleviate the problem while proving advantageous to their business. Below is a brief synopsis of some of the reports from the Energy vertical.
Energy Market: Report Highlights:
The report provides insights into the following FAQs:
Home Energy Management Systems Market: Key Drivers and Segmentation
Synopsis of Growth Drivers with Market Forecast 2021-2025
The Home Energy Management Systems Market is projected to post an incremental growth of $ 1.23 billion, at a CAGR of almost 8% till 2025. This research report provides detailed insights into growth drivers that are likely to boost the market. It also provides an analysis of all the segments, trends and challenges that are expected to impact the market in focus. This research will thus equip business leaders with data and insights necessary for designing future ready strategies for growth and development.
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Home Energy Management Systems Market: Top Drivers for Growth
One of the key factors that will drive growth is growing adoption of smart grid technologies. Government initiatives for smart city infrastructure development are increasing in emerging economies, such as China and India. This research report provides a comprehensive analysis of this and all the other factors that will boost growth during the forecast period. In addition to market drivers, our research report also studies the latest trends and challenges that are likely to influence growth in the current market scenario. Our analysis is designed to empower clients with actionable insights that will help them leverage growth opportunities and formulate winning strategies to drive their business further.
Home Energy Management Systems Market: Growth Segments
This research report provides insights into the current market share of each segment along with growth projections for the next five years. In addition, the report also offers a detailed impact analysis of various trends, drivers, and challenges on each market segment along with insights into the way forward. These insights will equip clients with information that will help them design a growth strategy for their business and area of operation. Home Energy Management Systems Market is segmented by Product (Lighting controls, Programmable thermostats, Self-monitoring systems, and Advanced central controllers) and Geography (North America, Europe, APAC, South America, and MEA). Request our Free Sample Report
Home Energy Management Systems Market: Alphabet Inc., Cisco Systems Inc., Emerson Electric Co., Honeywell International Inc., Johnson Controls International Plc, Lennox International Inc., Panasonic Corp., Robert Bosch GmbH, Schneider Electric SE, and Siemens AG are some of the leading competitors
The market is fragmented, and the growth of the players depends on several factors such as market conditions, government support, and industry development. Marke players must distinguish their product and service offerings through a clear and unique value proposition to prosper in this competitive market. Alphabet Inc., Cisco Systems Inc., Emerson Electric Co., Honeywell International Inc., Johnson Controls International Plc, Lennox International Inc., Panasonic Corp., Robert Bosch GmbH, Schneider Electric SE, and Siemens AG are some of the major market participants. The report offers a detailed analysis of each of the above-listed vendors and their product portfolio.
Technavio also offers custom research reports with detailed insights assessing the market from a global as well as regional perspective. This customized report will help clients keep up with new product launches in direct & indirect or related markets. It will also provide insights on upcoming developments along with pipeline analysis of vendor operations and the impact of government regulations. For more insights on this market: Download a Free Sample Report
Home Energy Management Systems Market Size to Grow by $ 1.23 bn through 2021-2025 | Forecast and Trend Analysis
Technavio has been monitoring the home energy management systems market and it is expected to grow by $ 1.23 bn, accelerating at a CAGR of almost 8% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking View Free Sample Report
Home Energy Management Systems Market: Emerging Trends to Impact Market Growth
Availability of a wide range of smart home products to emerge as a key trend in the home energy management systems market. This report provides a detailed analysis of all the trends that are likely to influence the growth of individual segments within the market as well as the overall market in focus. This analysis will enable clients to assess their play in the market and plan for growth opportunities.
Technavio custom reports provide market insights at the global and regional level along with a pipeline analysis of new product launches. It also provides a peek into the latest R&D along with an impact analysis of government regulations.
For more insights into this market:Download a Free Sample Report
Technavio has been monitoring the Global Home Energy Management Systems (HEMS) Market and it is expected to grow by USD 1.23 billion accelerating at a CAGR of almost 8% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking. Download latest version with COVID-19 analysis Free Sample Report
Home Energy Management Systems Market: Rising need for energy conservation to drive growth
The major factor resulting in an increase in demand for HEMS is the development of smart cities across the world. Government initiatives for smart city infrastructure development are increasing in emerging economies, such as China and India. HEMS are devices that are installed in residential buildings to enable the provision of feedback on electricity consumption patterns and power consumption data for individual appliances. These systems perform pre-programmed functions, such as maintaining the temperature of houses. In addition, HEMS not only provide demand-response prompts from utility loads but also provide data about loads generated by microgrids. The data generated are provided to users, wherein they can view their energy consumption patterns and compare them with historical data. This information can be used by consumers to make necessary changes in consumption patterns and enhance the energy efficiency of households. The market is expected to grow due to the rising need for energy conservation and rapid advances in technology.
Technavio offers custom research reports with detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will help clients keep up with new product launches in direct & indirect COVID-19 related markets. It will also provide insights on upcoming developments along with pipeline analysis of vendor operations and the impact of government regulations. Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19 Download a Free Sample Report
