The energy efficient devices global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Energy Efficient Devices Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size -
The
energy efficient devices market size has grown rapidly in recent years.
It will grow from $845.01 billion in 2023 to $959.62 billion in 2024 at
a compound annual growth rate (CAGR) of 13.6%. The growth in the
historic period can be attributed to government regulations,
technological advancements, rising energy costs, environmental
awareness, consumer demand.
The energy efficient devices market size is expected to see rapid growth in the next few years. It will grow to $1,502.8 billion in 2028 at a compound annual growth rate (CAGR) of 11.9%. The growth in the forecast period can be attributed to increased adoption of smart home devices, growth of energy management systems, expansion of electric vehicle infrastructure, integration of blockchain technology for energy efficiency tracking, the emergence of energy-efficient appliances. Major trends in the forecast period include Internet of things (IoT) integration, artificial intelligence (AI) adoption, renewable energy integration, smart grid development, energy efficiency standards tightening.
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Scope Of Energy Efficient Devices Market
The Business Research Company's reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market's historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Energy Efficient Devices Market Overview
Market Drivers -
The
government's energy-efficiency initiatives are expected to fuel the
growth of the energy-efficient devices market going forward.
Energy-efficiency initiatives refer to programs, policies, or actions
implemented to reduce energy consumption and increase energy efficiency.
Government energy-efficiency initiatives are pivotal in advancing
energy-efficient devices through the establishment of standards,
incentivizing adoption, increasing awareness, supporting research and
development, implementing building codes, and promoting cross-sector
collaboration. For instance, in December 2023, according to the
Department of Energy, a US-based federal government agency, the
Biden-Harris Administration is allocating $530 million to enhance
building energy efficiency and resilience, aiming to reduce consumer
costs by promoting the adoption and implementation of cutting-edge
energy codes, zero energy codes, building performance standards, and
innovative codes across the country. Therefore, the government's
energy-efficiency initiatives are driving the energy-efficient devices
market.
Market Trends -
Major companies operating in the
energy-efficient devices market are focused on developing innovative
products with advanced technologies, such as smart IoT solutions, to
increase their profitability in the market. Smart IoT solutions are
crucial in promoting energy efficiency across various domains, including
homes, buildings, industries, and cities, ultimately contributing to
sustainability and environmental conservation efforts. For instance, in
March 2023, Siemens AG, a Germany-based energy technology and
manufacturing company, launched Connect Box. Connect Box is an IoT
solution for small to medium-sized buildings, seamlessly integrating
wired/wireless devices. It optimizes energy usage, monitors performance,
and enhances indoor air quality through real-time analysis. With a
plug-and-play setup, diverse licensing options, and user-friendly
interfaces, it caters to varied needs while ensuring compliance with
sustainability regulations and delivering up to 30% energy savings.
The energy efficient devices market covered in this report is segmented –
1) By Component: Hardware, Software, Services
2)
By System Type: Industrial Energy Management Systems (IEMS), Building
Energy Management Systems (BEMS), Home Energy Management Systems (HEMS)
3)
By Vertical: Residential, Energy And Power, Telecom And Information
Technology (IT), Manufacturing, Retail, Healthcare, Other Verticals
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Regional Insights -
North
America was the largest region in the energy efficient devices market
in 2023. Asia-Pacific is expected to be the fastest-growing region in
the forecast period. The regions covered in the energy efficient devices
market report are Asia-Pacific, Western Europe, Eastern Europe, North
America, South America, Middle East, Africa.
Key Companies -
Major
companies operating in the energy efficient devices market are Samsung
Electronics, Siemens AG, GE Electric, Panasonic Corporation, Veolia
Environment SA, Mitsubishi Electric Corporation, Schneider Electric SE,
Honeywell International Inc., ABB Ltd., Daikin Industries Ltd., Toshiba
Corporation, Johnson Controls International plc, Eaton Corporation,
Carrier Global Corporation, Koninklijke Philips N.V., Trane
Technologies, Emerson Electric Co., Legrand Group, Osram Group, Acuity
Brands Inc., Itron Inc., Zumtobel Group, Cree Inc., Crompton Greaves
Consumer Electricals Limited, Danfoss Group
Table of Contents
1. Executive Summary
2. Energy Efficient Devices Market Report Structure
3. Energy Efficient Devices Market Trends And Strategies
4. Energy Efficient Devices Market – Macro Economic Scenario
5. Energy Efficient Devices Market Size And Growth
…..
27. Energy Efficient Devices Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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