Residential Energy Management (REM) Market

The global  Energy Management market  is forecast to reach USD 5,567.7 Million by 2028, according to a new report by Reports and Data. Energy management systems are implemented to save energy by reducing energy consumption. The demand for energy management systems in the residential sector is increasing at a high rate. REMS allows residents to significantly reduce utility costs across the board, including cooling, heating, lighting, and water. The system tracks detailed usage over time and stores it within its centralized digital repository so that the residents can always have access to the building’s historical energy data. This allows them to budget better for energy usage based on time of year, weather, and so on. The growing adoption of smart grid services is another factor driving the market. Several government regulations and policies across the globe on the utilization of renewable energy and reduction of carbon emissions are the fundamental factors driving the popularity of