The report explains advantages of automated home energy management as compared to conventional system. The advantages help to understand business opportunities in the market
A home energy management system facilitates a user in order to manage the energy consumption in a house. The upcoming industry provides solutions to various home owners which efficiently optimizes their energy requirements and consequently enhances performance.
The technology provides numerous benefits to user such as reduced energy spending, security from theft and improved performance of equipment. The solutions are gaining popularity among users in order to protect their electronic assets.
The research elaborates the competitive strategies for businesses with detailed market dynamics.
The market is driven by increasing demand of energy management solutions and rising differences in energy distribution prices across world. The market faces limitations due to high cost of installation and lack of awareness.
The growth opportunities of the market are due to increasing awareness and government regulations.
According to technologies, market is categorized into technology types such as Wi-Fi, Zigbee, Z-Wave, homeplug and others. Wi-fi technology is currently leading the market, which is expected to be surpassed by Zigbee in future.
Zigbee is becoming more popular due to higher scalability and interface support.
Geographically, market is segmented into regions such as North America, Europe, Asia-Pacific, Middle East & Africa and Rest of the World (RoW). North American region is leading the market due to increased deployment of services such as wi-fi and home area network.
European region is expected to drive the growth in future due to rapidly increasing roll-out of smart meters.
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