The Smart Energy Devices Market deals with the development, manufacture and distribution of smart metering systems or other types of smart meter technology with displays which are connected to electrical appliances for a number of benefits. In other words, smart meters enable two-way communication.
The Smart Energy Devices Market views smart meter installations as vital for monitoring energy consumption in everyday life. Smart meters allow users to record their energy consumption in period intervals for subsequent monitoring. Based on this feedback, users can go about modifying their appliances or usage to enable smart energy consumption.
Scope & Regional Forecast of the Smart Energy Devices Market
The Smart Energy Devices Market is considered to be a vital part within the overall efforts to slow down climate change. Smart metering systems have undergone major improvements in technology, reliance on automation and deeper integration with the industry's value chain.
The Smart Energy Devices Market considers a few factors to be the primary growth drivers: rising need for safe and secure smart energy systems; demand for efficient smart meter technology; and advances in Internet of Things which allow smart meter installations to be more autonomous and intelligent.
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During the last decade, the Smart Energy Devices Market has witnessed a slew of favorable government initiatives being introduced with the aim of gradually reducing every household's carbon footprint. These regulations have brought various smart meter manufacturers and smart meter companies into life for developing intelligent monitoring and control systems.
The Smart Energy Devices Market is currently dominated by demand emanating from North America which is also expected to exhibit the highest growth during the forecast period of 2016-2021. Smart meter manufacturers and smart meter companies consider this growing demand to be a consequence of rising public and industrial smart energy device adoption.
Segmentations & Key Players Involved in the Smart Energy Devices Market
According to IndustryARC findings, the Smart Energy Devices Market can be broken down into various segmentations on the basis of –
Type: Smart Meters (Smart Thermostats, Load Control Switches, Electric Vehicles), Smart Displays, Smart Home Appliances (Lighting Devices, Washer, Dryer, Others), Smart Kitchen Appliances (Refrigerator, Freezer, Others) and Smart Connectivity Appliances (WI-Fi, Bluetooth, NFC).
Component: Power Component, Memory Component, Processing Component and Communication Interface.
Application: Emission Reductions, Security of Energy Supply, Reducing Carbon Footprint and Quality Service to End User.
End-User: Home Appliances Market, Mining, Water Treatment, Power Generation, General Machineries and Others.
Some of the key players involved in the Smart Energy Devices Market according to IndustryARC are as follows:
- Hangzhou Ouge Electrical Appliance Co., Ltd
- Cuori Electrical Appliances Group co., Ltd
- Acme Kitchenettes Corp.
- Crown Domestic Appliances Corp.
- Gree Electric Appliances Inc.
- BSH Bosch Hausgarate GMBH
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