DUBLIN — The Residential Energy Management (REM) market is in high demand. The market was estimated to be valued at $2,860.4 million in 2014 and is forecast reach $15,620.9 million by 2019, with a compound annual growth rate (CAGR) of 40.4 percent between 2014 and 2019, according to a new report by Research and Markets.
REM helps to conserve energy resources and also optimize the use of energy. More than 180 countries worldwide have taken up the REM system for energy management. REM systems help to tackle the energy crisis problems in developing and developed countries. With the increasing demand of energy management solutions in the buildings, major players are also investing major proportions of their revenue in the research and development of new and innovative products related to the market.
Government initiatives, such as smart meter rollouts, standardization of energy management policies, and incentives, grab the interest of the residential consumer to adopt REM systems. People have started recognizing the ill-effects of high energy consumption on the environment, and there is an increased consumer interest in managing energy intake, which helps in cutting the electricity bill and reducing the usage of electricity. There has been an increase in demand from the consumers for optimization use of energy; hence many leading industry players have come up to provide REM solutions.
For more information, or to read the full report, visit http://bit.ly/1KUp9p2.
Publication date: 7/27/2015