Accessibility Statement Skip Navigation
  • Resources
  • Blog
  • Journalists
  • +44 (0)20 7454 5110
  • Client Login
  • Send a Release
Return to PR Newswire homepage
  • News
  • Products
  • Contact
When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All Public Company News
      • All Multimedia News
      • View All News Releases

      • Regulatory News

      • D/A/CH Regulatory News
      • UK Regulatory News
      • View All Regulatory News

  • Business & Money
      • Auto & Transportation

      • Aerospace & Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads & Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking & Road Transportation
      • View All Auto & Transportation

      • Business Technology

      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • View All Business Technology

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Financial Services & Investing

      • Accounting News & Issues
      • Acquisitions, Mergers & Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalisation
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • View All Financial Services & Investing

      • General Business

      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls & Research
      • Trade Show News
      • View All General Business

  • Science & Tech
      • Consumer Technology

      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • View All Consumer Technology

      • Energy & Natural Resources

      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil & Gas Discoveries
      • Utilities
      • Water Utilities
      • View All Energy & Natural Resources

      • Environ­ment

      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • Aerospace & Defence
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation & Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking & Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • Carriers & Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • Animals & Pets
      • Beers, Wines & Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics & Personal Care
      • Fashion
      • Food & Beverages
      • Furniture & Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewellery
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Health

      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • View All Health

      • Sports

      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • View All Sports

      • Travel

      • Amusement Parks & Tourist Attractions
      • Gambling & Casinos
      • Hotels & Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • Animal Welfare
      • Corporate Social Responsibility
      • Economic News, Trends & Analysis
      • Education
      • Environmental
      • European Government
      • Labour & Union
      • Natural Disasters
      • Not For Profit
      • Public Safety
      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • View All People & Culture

  • Overview
  • Distribution
  • Paid Placement
  • Multichannel Amplification
  • Disclosure Services
  • SocialBoost
  • Rooms
    • MediaRoom
    • ESG Rooms
  • AI Tools
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Hamburger menu
  • Cision PR Newswire UK provides press release distribution, targeting, monitoring, and marketing services
  • Send a Release
    • Phone

    • +44 (0)20 7454 5110 from 8 AM - 5:30 PM GMT

    • ALL CONTACT INFO
    • Contact Us

      +44 (0)20 7454 5110
      from 8 AM - 5:30 PM GMT

  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • News in Focus
    • Browse News Releases
    • Regulatory News
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
    • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • Overview
  • Distribution
  • Paid Placement
  • Multichannel Amplification
  • Disclosure Services
  • Cision Communications Cloud®
  • AI Tools
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists

Smart Home Energy Management Market Size Worth $24.47 Billion by 2028 - Million Insights


News provided by

Million Insights

08 Mar, 2022, 12:40 GMT

Share this article

Share toX

Share this article

Share toX

FELTON, Calif., March 8, 2022 /PRNewswire/ -- The global smart home energy management market size is expected to reach USD 24.47 billion by 2028, according to a new report by Million Insights. It is expected to expand at a CAGR of 14.7% from 2021 to 2028. Consumers' increased interest to achieve efficient energy management by actively measuring and monitoring the real-time uses and controlling remotely will drive the market. Growing awareness to reduce the carbon footprints and protect the environment by less energy consumption will further fuel the market growth. A connected device in smart homes is an assuring and efficient way of achieving comfort and safety and enhancing the quality of life. Rising demand for these technologically advanced products will fuel the market growth.

Smart Home Energy Management Market Report Highlights

  • North America held the largest share of over 35.0% in 2020. The growing number of smart homes, the presence of top manufacturing companies, and consumers' increased inclination toward reducing energy bill spending will propel the regional market growth.
  • By product, smart thermostats captured the largest share of over 45.0% in 2020. Rising demand for smart thermostats among consumers owing to their use for maintaining room temperature as per the regular pattern of the households will propel the segment growth.
  • Asia Pacific is estimated to register the fastest CAGR of 15.5% from 2021 to 2028. A large working population, increased disposable income, and increased adaptability of smart homes will fuel the market growth.
  • Based on technology, wired devices held the largest share in 2020 as they are efficient, have better speed, and are cost-effective than others. The wireless segment is forecasted to register the fastest CAGR of 15.1% from 2021 to 2028.

Smart Home Energy Management Market Growth & Trends

Consumers' increased inclination to reduce the home electric utility bills by achieving energy efficiency primarily contributes to the market growth. In addition, growing awareness among the consumers regarding efficient energy management and technological advancements in energy management devices will propel the market growth. In addition, suggesting the energy-saving actions based on room occupancy and weather forecast will further help in reducing energy consumption.

The growing penetration of smart home devices, increase in disposable income, increasing buzz about smart homes among consumers, and growing concerns over energy efficiency are key factors positively influencing the growth of the market. New product establishments by the manufacturing companies will further propel the market growth. For instance, in October 2020, Schneider Electric launched energy management devices for its suite of solar offerings, which is suitable for a single family with up to 26 kW of storage.

The coronavirus pandemic positively affected the market for smart home energy management in 2020. Due to the Covid-19 pandemic, governments imposed countrywide lockdowns to control the rising cases of coronavirus, which resulted in the acceptance of work-from-home culture. A large population started working from home, which increased the demand for electricity in households during the period. Demand for energy management devices has risen during the Covid-19 era as a number of working people stayed at home and the use of electricity increased for purposes, such as maintaining room temperature.

Read synopsis or request for a free sample of market research report, "Smart Home Energy Management Market Size, Share & Trends Analysis Report by Product (Smart Thermostats, Digitally Connected Devices for Energy Saving), By Technology, By Region, And Segment Forecasts, 2021 - 2028", published by Million Insights.

Smart Home Energy Management Market Segmentation

Million Insights has segmented the global smart home energy management market on the basis of product, technology, and region:

Smart Home Energy Management Product Outlook (Revenue, USD Million, 2017 - 2028)

  • Smart Thermostats
  • Digitally Connected Devices for Energy Saving
  • Weather Forecast Services
  • Others

Smart Home Energy Management Technology Outlook (Revenue, USD Million, 2017 - 2028)

  • Wired
  • Wireless

Smart Home Energy Management Regional Outlook (Revenue, USD Million, 2017 - 2028)

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Russia
    • Italy
  • Asia Pacific
    • China
    • Japan
    • India
  • Central & South America
    • Brazil
    • Argentina
  • Middle East & Africa
    • South Africa
    • Saudi Arabia

List of Key Players of Smart Home Energy Management Market

  • ABB Group
  • General Electric
  • Google
  • Hitachi
  • Honeywell International
  • IBM
  • Schneider Electric
  • Emerson
  • Koninklijke Philips
  • Panasonic
  • Robert Bosch
  • Samsung
  • Siemens
  • Eaton

Browse more Research Reports published by Million Insights

  • Newspaper Advertising Market - The global newspaper advertising market size is expected to reach USD 19.3 billion by 2028, according to a new report by Million Insights. The market is expected to expand at a CAGR of -3.6% from 2021 to 2028. The growing rapid digitalization in emerging economies has experienced significant shrinkage in recent years and is likely to decline over the forecast period. The increasing acceptance of print advertising among the various industries in recent years to offer information about their company and products is expected to accelerate the market growth.
  • Banana Flour Market - The global banana flour market size is estimated to reach USD 1.63 billion by 2028, registering a CAGR of 3.5% from 2021 to 2028, according to a new report by Million Insights. The key factor driving the market growth includes the rising inclination of consumers towards gluten-free and organic food products across the globe. In addition, the growing usage of banana flour in infant foods for healthy nutrition and diets further provides ample growth opportunities to the market players. Moreover, the rising consumption of banana flour-based products coupled with the growing trade across the globe is projected to drive the market during the forecast period.
  • E-commerce Furniture and Homeware Market - The global e-commerce furniture and homeware market size is expected to reach USD 270.8 billion by 2028, registering a CAGR of 6.6% over the forecast period, according to a new report by Million Insights. This can be attributed to growing demand for furniture and homeware products on e-commerce portals from developed as well as developing countries. The growth of the market can proliferate during the forecast period due to growing demand for furniture in the bedroom and living rooms coupled with growth in real estate construction projects commenced by governments specifically in urban areas.
  • Marketplace Lending (Consumer) Market - The global marketplace lending (consumer) market size is estimated to reach USD 267.14 billion by 2028 and is expected to register a CAGR of 5.1% from 2021 to 2028, according to a new report by Million Insights. The growth of small and medium-sized enterprises, particularly in developing countries, is the crucial factor that drives the growth of the market. Minimum operating cost and less market risk for the lenders and the borrowers are the other significant factors driving the growth

.Explore Snapshots by Million Insights, for industry specific reports that provide real-time market trends and forecasts, by condensing the integral elements from our industry reports into bite-sized paragraphs, charts, and tables.

Access More Snapshot Reports and Press Releases.

About Million Insights:

Million Insights, is a market research and consulting company, provides syndicated as well as customized research reports and consulting services. We have a comprehensive marketplace, that will enable you to compare data points, before you make a purchase. Enabling informed buying, is our motto and we strive hard to ensure that our clients get to browse through multiple samples, prior to an investment. Service flexibility & the fastest response time are two pillars, on which our business model is founded. Our market research report store includes in-depth reports, from across various industry verticals, such as healthcare, technology, chemicals, food & beverages, consumer goods, material science & automotive.

Contact:

Ryan Manuel
Research Support Specialist, USA
Million Insights
Phone: 1-408-610-2300
Toll Free: 1-866-831-4085
Email: sales@millioninsights.com
Web: https://www.millioninsights.com/
Follow Us: LinkedIn | Twitter

Modal title

Contact PR Newswire

  • +44 (0)20 7454 5110
    from 8 AM - 5:30 PM GMT
  • General Enquiries
  • Media Enquiries
  • Partnerships

Products

  • Content Distribution
  • Multimedia Services
  • Disclosure Services
  • Cision Communications Cloud®

About

  • About PR Newswire
  • About Cision
  • Partnering Opportunities
  • Careers
  • Accessibility Statement
  • APAC
  • APAC - Simplified Chinese
  • APAC - Traditional Chinese
  • Brazil
  • Canada
  • Czech
  • Denmark
  • Finland
  • France
  • Germany
  • India
  • Indonesia
  • Israel
  • Japan
  • Korea
  • Mexico
  • Middle East
  • Middle East - Arabic
  • Netherlands
  • Norway
  • Poland
  • Portugal
  • Russia
  • Slovakia
  • Spain
  • Sweden
  • United States
  • Vietnam

My Services

  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
  • Data Privacy

Do not sell or share my personal information:

  • Submit via Privacy@cision.com 
  • Call Privacy toll-free: 877-297-8921

Contact PR Newswire

Products

About

My Services
  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
+44 (0)20 7454 5110
from 8 AM - 5:30 PM GMT
  • Terms of Use
  • Privacy Policy
  • Information Security Policy
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2025 PR Newswire Europe Limited. All Rights Reserved. A Cision company.