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The global home energy management system market was valued at US$ 2.18 Billion in 2020.
The rising consumer inclination towards sustainable use of energy resources is one of the key factors driving the global home energy management system market.
Sudden outbreak of the COVID-19 pandemic has led to a significant rise of home energy management system as it enables the homeowners to remotely monitor their energy requirements without depending on any external help.
Based on the product type, the global home energy management system market can be bifurcated into lighting controls, self-monitoring systems and services, programmable communicating thermostats, advanced central controllers, and intelligent HVAC controllers. Currently, lighting controls hold the majority of the total market share.
On a regional level, the market has been classified into North America, Asia Pacific, Europe, Middle East and Africa, and Latin America, where North America currently dominates the global market.
Some of the major players in the global home energy management system market include Honeywell International, Inc., Nest Labs, Inc., Vivint, Inc., General Electric Company, Ecobee, Inc., Alarm.Com, Comcast Cable (Xfinity), Panasonic Corporation, Ecofactor, Inc., and Energyhub, Inc.
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