Austin, July 25, 2025 (GLOBE NEWSWIRE) -- Home Energy Management System Market Size & Growth Insights:
According to the SNS Insider Report, “The Home Energy Management System Market was valued at USD 4.88 billion in 2024 and is expected to reach USD 14.14 billion by 2032, growing at a CAGR of 14.30% over the forecast period of 2025–2032.
Home Energy Management System Market Set for Speedy Growth Driven by Smart Home Adoption and Energy Efficiency Initiatives
Several global trends and technological innovations are likely to speed up the growth of the market over this decade. A prominent factor driving market growth is the increasing demand for energy-efficient solutions for residential spaces, along with the rapid proliferation of smart home technologies. Active policies and subsidy plans across countries urge renewable energy utilization and reductions in power consumption, driving consumers towards integrated energy management systems.
Several factors are driving this growth, such as the increasing popularity of the smart home, the ever-increasing cost of electricity, and the substantial government incentives encouraging energy-saving methods. Moreover, the growing penetration of IoT is boosting the monitoring and management of energy consumption in residential projects, thus driving the growth of the market.
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Leading Market Players with their Product Listed in this Report are:
- Honeywell International Inc.
- Vivint Smart Home, Inc.
- General Electric Company
- Ecobee, Inc.
- Panasonic Holdings Corporation
- Ecofactor
- Schneider Electric SE
- Comcast
- Alarm.com
- Robert Bosch GmbH
- Johnson Controls
- ABB
- Eaton
- Emerson Electric
- ENGIE Impact
- GridPoint
- Kenmore
- Optimum Energy
- Siemens
- Telkonet
- Toshiba
Home Energy Management System Market Report Scope:
| Report Attributes | Details |
| Market Size in 2024 | USD 4.88 Billion |
| Market Size by 2032 | USD 14.14 Billion |
| CAGR | CAGR of 14.30% From 2025 to 2032 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Component (Hardware, Software, Services) • By System (Lighting Controls, Thermostats, Self-Monitoring Systems, Advanced Central Controllers, Intelligent HVAC Controllers) • By Technology (Wireless Protocols, Wired Protocols, Hybrid) • By Application (New Construction, Retrofit) • By Deployment Type (On-premises, Cloud) • By Residence Type (Single-Family, Multi-Family) |
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Key Industry Segment Analysis
By Residence type
The multi-family segment was the largest product segment in the market with a revenue share of 88% in 2024. This is attributed to centralized energy monitoring and cost-effective sensor deployment in apartment complexes. It gained more popularity due to urbanisation and efforts by the utility. On the other hand, the Single-Family segment is projected to register the highest CAGR of 15.18% from 2025 to 2032, on account of rising need for customized energy management, ongoing smart home adoption trends in the suburbs, and the increasing inclination toward a sustainable lifestyle.
By deployment
The On-premises segment dominated with a 78% market share in 2024 due to centralized installations in dense residential areas. However, the Cloud-based segment is expected to surge at a CAGR of 16.22%, driven by demand for remote control and app-based energy insights.
By application
New Construction led with 61% of the market share in 2024, thanks to the integration of energy systems from the blueprint stage. Meanwhile, Retrofit applications are gaining traction, expected to grow at 15.30% CAGR, due to growing interest in modernizing old buildings to meet today’s energy standards.
By systems
Thermostats held the largest share at 30%, primarily for their ability to control HVAC systems, a major source of household energy usage. On the other hand, Self-Monitoring Systems are projected to grow at 15.34% CAGR, reflecting consumers’ increasing desire for transparency and independence in energy management.
By technology
Wireless Protocols led with a 52% revenue share in 2024, favored for their cost-effectiveness and ease of installation. Hybrid systems, offering a mix of wired stability and wireless convenience, are expected to grow at the fastest CAGR of 15.34% during the forecast period.
By Component
The Hardware segment dominated in 2024 with a 60% market share. However, the Software segment is forecasted to grow at 15.82% CAGR, driven by increased demand for user interfaces, energy analytics, and AI-powered automation.
Global Home Energy Management Market Sees Regional Surge, Led by North America and Asia Pacific Growth
In 2024, the Home Energy Management System Market share was led by North America due to high technology adoption, energy literacy, and supportive government initiatives, particularly in the Asia Pacific region is expected to grow with the highest growth rate at a CAGR of 16.54% between 2025 and 2032 supported by urbanization, increase in disposable incomes, and smart city initiatives with China being the leading one. Finally, Europe (led by Germany) is still a major region thanks to restrictive energy regulations and energy-conscious consumers. The Middle East & Africa are growing due to smarter infrastructure investments, while Latin America is expanding by means of increasing energy costs and urban smart city plans.
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Recent Developments
- January 2024 – Honeywell and NXP Semiconductors teamed together to embed advanced machine learning into building management systems, enhancing autonomous energy optimization across both commercial and residential buildings.
- March 2024 – Ecobee has been named the U.S. EPA ENERGY STAR Partner of the Year for the fourth year in a row, recognizing the company's efforts in marketing advanced products and solutions to support modern, energy-efficient homes.
Table of Contents - Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
6. Competitive Landscape
7. Home Energy Management System Market, by Component
8. Home Energy Management System Market, by System
9. Home Energy Management System Market, by Technology
10. Home Energy Management System Market, by Application
11. Home Energy Management System Market, by Deployment Type
12. Home Energy Management System Market, by Residence Type
13. Regional Analysis
14. Company Profiles
15. Use Cases and Best Practices
16. Conclusion
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