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The energy efficient devices market has seen a rapid surge, climbing from $845.01 billion in 2023 to $959.62 billion in 2024, with a notable compound annual growth rate (CAGR) of 13.6%. This growth is propelled by government regulations promoting energy efficiency, technological advancements, rising energy costs, increasing environmental consciousness, and consumer demand for energy-saving products. Looking forward, the market is expected to continue its swift expansion, reaching $1,502.8 billion in 2028, driven by the adoption of smart home devices, energy management systems, electric vehicle infrastructure, blockchain technology for energy efficiency tracking, and energy-efficient appliances. Major trends include the integration of IoT devices, AI technologies, renewable energy sources, smart grids, and stricter energy efficiency standards.

Government energy-efficiency initiatives play a pivotal role in advancing energy-efficient devices, driving the growth of the energy-efficient devices market through standards establishment, adoption incentives, awareness campaigns, research and development support, building code implementation, and cross-sector collaboration. For instance, the Biden-Harris Administration’s allocation of $530 million in December 2023 aims to enhance building energy efficiency and resilience, promoting cutting-edge energy codes, zero energy codes, building performance standards, and innovative codes nationwide. Projected to reach $Y billion by 2028, the energy-efficient devices market reflects significant growth driven by these initiatives.

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What Are The Key Trends That Influence Energy Efficient Devices Market Share Analysis?

Major players in the energy-efficient devices market are developing innovative products with technologies like smart IoT solutions to enhance profitability. These solutions promote energy efficiency across homes, buildings, industries, and cities, supporting sustainability efforts. Siemens AG launched Connect Box in March 2023, an IoT solution for small to medium-sized buildings. It integrates wired/wireless devices to optimize energy usage, monitor performance, and improve indoor air quality, ensuring compliance with sustainability regulations and delivering up to 30% energy savings.

Which Market Players Are Driving Growth In The Energy Efficient Devices Market?

Major companies operating in the market areSamsung Electronics, Siemens AG, GE Electric, Panasonic Corporation, Veolia Environment SA, Mitsubishi Electric Corporation, Schneider Electric SE, Honeywell International Inc., ABB Ltd., Daikin Industries Ltd., Toshiba Corporation, Johnson Controls International plc, Eaton Corporation, Carrier Global Corporation, Koninklijke Philips N.V., Trane Technologies, Emerson Electric Co., Legrand Group, Osram Group, Acuity Brands Inc., Itron Inc., Zumtobel Group, Cree Inc., Crompton Greaves Consumer Electricals Limited, Danfoss Group

How Is The Global Energy Efficient Devices Market Segmented?

The energy efficient devices market covered in this report is segmented –

1) By Component: Hardware, Software, Services
2) By System Type: Industrial Energy Management Systems (IEMS), Building Energy Management Systems (BEMS), Home Energy Management Systems (HEMS)
3) By Vertical: Residential, Energy And Power, Telecom And Information Technology (IT), Manufacturing, Retail, Healthcare, Other Verticals

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The Energy Efficient Devices Global Market Report 2024 provides an overview of the energy efficient devicesmarket for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The energy efficient devices market forecast analyzes energy efficient devices market size, energy efficient devices market share, leading competitor and their market positions.

The Table Of Content For The Energy Efficient Devices Market Include

1. Energy Efficient Devices Market Executive Summary
2. Energy Efficient Devices Market Segments
3. Energy Efficient Devices Market Size And Template Market Growth Rate
4.  Key Energy Efficient Devices Market Trends
5. Major Energy Efficient Devices Market Drivers
……
25. Key Mergers And Acquisitions In The Energy Efficient Devices Market
26. Top Energy Efficient Devices Companies
27. Energy Efficient Devices Market Opportunities And Strategies
28. Energy Efficient Devices Market, Conclusions And Recommendations
29. Appendix

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