Residential Energy Management Market Share

North American Market Forecast

The residential energy management market in North America is set to account for the largest share of 32% by the end of 2037. The growth of the market in the region is attributable to the increased awareness of energy conservation among residents of developed nations like the USA and Canada.

Additionally, various government initiatives to curb energy wastage in households and the growing digitalization of the power sector together with the adoption of smart grids in the region are also set to drive market growth.

APAC Market Statistics

The Asia Pacific residential energy management market is estimated to be the second largest, registering a share of about 26% by the end of 2037. The major factor that is slated to bring lucrative growth opportunities for market growth in the region is the high demand and consumption of electricity owing to the burgeoning population in countries such as China. The recent statistics reveal that the Asia Pacific region is considered to be the primary consumer of energy in the world, with the consumption of approximately 275 exajoules in 2021, which is an increase of 6% from the previous year.

Further, the rise in the implementation of carbon policy to reduce emissions and achieve energy efficiency are other factors that are counted to induce robust revenue generation in the upcoming years.