New York, NY -- (SBWIRE) -- 04/26/2021 -- The global Residential Energy Management (REM) Market research report added by Reports and Data is a comprehensive analysis of the latest trends and demands influencing the market growth. The report also covers a brief summary of the market values, analysis, market share, market size, industry statistics, market growth, top companies, market revenue, market valuation, and profit forecast. The report also covers the evolving competitive landscape and business strategies implemented by the major manufacturers of the market.
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.

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.

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.

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.

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:

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This report on the Residential Energy Management (REM) Market offers an extensive analysis of the trends to estimate its growth in the near future. It provides historical analysis and evaluates the trends observed in the data gathered to speculate the growth in its size, share, demand, total earnings, and revenue

The report provides an assessment of the market status and outlook of the major regions of the market. It also covers product types, end user industries, applications, and key countries of the market. It also offers analysis of the top companies and analyzes the competitive hierarchy of the Residential Energy Management (REM) Market. The report further discusses in detail the strategic alliances formed by the key manufacturers such as mergers and acquisitions, collaborations, joint ventures, partnerships, corporate and government deals, and brand promotions and product launches. It also offers a complete overview of the businesses, expansion plans, product portfolio, revenue contribution, market share, production and manufacturing capacity, and their financial standings.

The prominent players operating in the market 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.

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The report broadly assesses the geographical terrain of the Residential Energy Management (REM) Market and segments the market into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The report offers market analysis and significant information regarding the industry share and revenue share generated by each major region along with the drivers, demands, current and emerging trends, and presence of key players in the region.

Regional analysis of the Residential Energy Management (REM) Market include:
- North America (U.S., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of EU)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America

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Residential Energy Management (REM) Market segmentation based on Product Types:
- Sensors
- Controllers
- Software
- Batteries
- Display Devices
- Others

Residential Energy Management (REM) Market segmentation based on Application:
- Smart Appliances
- Smart Plugs
- Smart Meters
- Load Control Switches
- Smart Thermostat
- In-House Displays

The report covers vital information about the market share of each product type, revenue growth rate of segment, and profit valuation. It also provides information on the key segments expected to account for a significant share of the market in the forecast period. The report covers predicted growth rate, market share, and expected product demand for each application and product type. Additional information about the industry analysis, price trends, and the marketing strategies that are expected to drive the revenue growth of the market.

Highlights of the TOC:
1. Report Overview
1.1 Research Scope
1.2 Key Residential Energy Management (REM) Market segments
1.3 Major players
1.4 Market analysis by product
1.5 Market analysis by application
1.6 Report timeline
2. Global Growth Trends
2.1 Global Residential Energy Management (REM) Market size
2.2 Latest Residential Energy Management (REM) Market trends
2.3 Key growth trends
3. Competitive Landscape
3.1 Global Residential Energy Management (REM) Market key players
3.2 Global Residential Energy Management (REM) Market size by manufacturers
3.3 Products of major players
3.4 Entry barriers in the Residential Energy Management (REM) Market
3.5 Mergers, acquisitions, joint ventures, and strategic alliances

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