Residential Energy Management Market Analysis

Component (Hardware, Software)

The software segment is estimated to hold 53% share of the residential energy management market by the year 2037. A major factor for segment growth is its ease of accessibility and the ability to manage & transmit a huge amount of data from multiple devices. Home energy management (HEM) software is a digital tool that authorizes the monitoring & management of energy consumption by automating definite tasks. Hence, with the integration of AI-powered devices and the penetration of IoT (Internet of Things) devices, this software provides insights on how to further improve efficiency and minimize cost.

Application (Power Monitoring & Control, Load Shedding & Management, Flexible Load Management)

The power monitoring & control segment is expected to garner a significant share of around 42% through 2037 as a result of the increasing demand for power in the residential sector and the rising need for effective utilization of power. As per recent reports, the residential sector accounts for almost 30% of global energy consumption.

Furthermore, the rising electricity bills and the increasing focus on saving the environment by effectively using energy and reduction of power usage are other factors that are predicted to drive segment growth.

Our in-depth analysis of the global market includes the following segments:

Component	Hardware Software
Communication Technology	Wired Wireless
Application	Power Monitoring & Control Load Shedding & Management Flexible Load Management

Frequently Asked Questions (FAQ)

In the year 2025, the industry size of residential energy management is estimated at USD 4.13 billion.

The residential energy management market size was valued at USD 3.77 billion in 2024 and is projected to cross USD 16.65 billion by the end of 2037, registering more than 12.1% CAGR during the forecast period i.e., between 2025-2037. The increasing adoption of smart home energy management systems using IoT with the rising adoption of smart home automation technology will boost the market growth.

North America industry is set to account for the largest share of 32% by 2037, propelled by rising awareness of energy conservation among residents of developed nations.

The major players in the market include Yokogawa Electric Corporation, Siemens AG, C3.ai, Inc., GridPoint, Inc., Schneider Electric, The General Electric Company, DEXMA Sensors, SL, Johnson Controls International plc, Honeywell International Inc., Energate, Inc. (Tantalus Systems Corp.).

Residential Energy Management Market Analysis