According to Markntel Advisors Report, Middle East Home Energy Management System Market is expected to grow at a significant growth rate, and the analysis period is 2023-2028, considering the base year as 2022.Consistent monitoring and evaluating of market dynamics to stay informed and adapt your strategies accordingly. As a market research and consulting firm, we offer market research reports that focus on major parameters including Target Market Identification, Customer Needs and Preferences, Thorough Competitor Analysis, Market Size & Market Analysis, and other major factors. At the end, we do provide meaningful insights and actionable recommendations that inform decision-making and strategy development.

 

Global Middle East Home Energy Management System Market Research Report & Summary:

The Middle East Home Energy Management System Market is estimated to grow at a CAGR of around 12.24% during the forecast period, i.e., 2023-28.        

Time Period Captured in the Report:

• Historical Years: 2018-21
• Base Years: 2022
• Forecast Years: 2023-28

Who are the Key Players Operating in the Middle East Home Energy Management System Market?

The top companies of the Middle East Home Energy Management System Market ruling the industry are: 

Schneider Electric, Honeywell International Middle East LTD, Eaton Corporation, Panasonic, ABB Group, Bosch GmbH, Hager Middle East, Ista Middle East FZE, ENGISY, ALTEC Energy, Others

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What is Included in Middle East Home Energy Management System Market Segmentation?

The Middle East Home Energy Management System Market explores the industry by emphasizing the growth parameters and categorizes including geographical segmentation, to offer a comprehensive understanding of the market dynamic.  The further bifurcations are as follows:

• By Offering
  • Hardware- Market Size & Forecast 2018-2028, (USD Million)
    • Control Devices
      • Lighting Controls
      • Sensor
      • Smart Meter
      • Intelligent HVAC Controllers
      • Others (Thermostat, Smart Plug/Strip, etc.)
    • Communication Devices
  • Software- Market Size & Forecast 2018-2028, (USD Million)
  • Services– Market Size & Forecast 2018-2028, (USD Million)
• By Communication Technology
  • Z-wave- Market Size & Forecast 2018-2028, (USD Million)
  • ZigBee- Market Size & Forecast 2018-2028, (USD Million)
  • Wi-Fi- Market Size & Forecast 2018-2028, (USD Million)
  • Homeplug- Market Size & Forecast 2018-2028, (USD Million)
  • Others (6LoWPAN, Bluetooth, etc.)- Market Size & Forecast 2018-2028, (USD Million)
• By Country
  • The UAE
  • Saudi Arabia
  • Qatar
  • Oman
  • Turkey
  • Egypt
  • Rest of the Middle East

Explore the Complete Middle East Home Energy Management System Market Analysis Report – https://www.marknteladvisors.com/research-library/middle-east-home-energy-management-system-market.html

Middle East Home Energy Management System Market Dynamics:

Growing Energy Consumption to Amplify the Market – The Middle East region has been witnessing a substantial surge in electricity consumption in recent years, driven by factors like industrial & technological development, economic growth, and a rapidly expanding population. As industries flourish & new technologies emerge, the power demand continues to rise, placing significant strain on the existing energy infrastructure. According to the Saudi Central Bank, in 2020, residential buildings dominated the demand for electricity in Saudi Arabia.

Homes accounted for around 50% of total electricity consumption in the Kingdom, far more than commercial or government structures in 2022. This escalating need for electricity has prompted homeowners in the Middle East to seek effective solutions to monitor & optimize their electricity usage. This has resulted in the increased adoption of Home Energy Management Systems (HEMS) across the region & fueled market growth in recent years, as it is a viable solution to address the challenges posed by increasing electricity consumption. The rising cost of electricity in some Middle East countries such as Iraq, Lebanon, Iran, etc., has become a significant concern for homeowners.  For instance:

• In 2022, Lebanon’s state power company, Electricite du Liban (EDL), raised the price it charges for electricity, in line with their implementation of the National Emergency Plan.

Thus, with electricity tariffs on the rise, homeowners are increasingly motivated to adopt energy management solutions like HEMS to mitigate the impact of accelerating energy expenses. This could positively impact the market in the coming years. By leveraging HEMS, homeowners could identify areas of inefficiency, reduce energy wastage, and ultimately achieve cost savings on their electricity bills in the coming years.

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