Energy Management - Africa | Statista Market Forecast

Revenue in the Energy Management market is projected to reach US$107.9m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 8.96%, resulting in a projected market volume of US$165.8m by 2029.
In the Energy Management market, the number of active households is expected to amount to 38.0m users by 2029.
Household penetration will be 11.6% in 2024 and is expected to hit 13.3% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$3.53.

Definition:

Energy Management market covers the sale of products for the control and reduction of energy consumption (e.g., automated heating control and timers) as well as connected sensors (e.g., temperature, sunlight, and precipitation sensors).
Networked light bulbs (see Comfort & Lighting) and smart sockets/plugs (see Control & Connectivity) are not included. Unlike in previous releases, smart plugs are no longer part of this segment but can now be found in the Control & Connectivity market. Smart Meters are not part of our Smart Home market.

Additional Information:

The market comprises revenue, average revenue per smart home, number of smart homes so as the household penetration rate by smart home, and key players. Figures are generated through both online and offline sales channels and include exclusive spending by consumers (B2C). Market leaders include Xiaomi, Google, Honeywell, LG, and other brands renowned for their innovation, brand recognition, and expansive distribution channels within their respective categories. For more information on the data displayed, use the info button right next to the boxes.

Digitally connected and controlled devices for energy saving
Thermostats (e.g., Sonoff Smart Radiator Thermostat TRVZB, Bosch Smart Home Room Thermostat II), radiator controls (e.g., TESLA Smart), temperature/wind/humidity sensors with connection to a broader smart home (e.g., TP-Link Tapo T310, Sonoff SNZB-02D)

Bulbs, window and door sensors (see Comfort & Lighting)
Connected household appliances (see Smart Appliances)
B2B/C2C sales of any kind (e.g., to hotels or office buildings)

The Energy Management market in Africa is experiencing significant growth and development due to various factors. Customer preferences in the Energy Management market in Africa are shifting towards more sustainable and efficient energy solutions.

With increasing concerns about climate change and the need to reduce carbon emissions, customers are looking for ways to optimize their energy usage and reduce their environmental impact. This has led to a growing demand for energy management systems and solutions that can help businesses and individuals monitor and control their energy consumption. Trends in the market show that there is a growing adoption of smart energy management technologies in Africa.

These technologies allow users to remotely monitor and control their energy usage, enabling them to make informed decisions about when and how to use energy. Smart meters, for example, are being installed in homes and businesses across the continent, providing real-time data on energy consumption and enabling more accurate billing. Another trend in the Energy Management market in Africa is the increasing use of renewable energy sources.

As the cost of renewable energy technologies continues to decrease, more and more businesses and individuals are investing in solar panels, wind turbines, and other renewable energy systems. These systems not only help reduce carbon emissions but also provide a reliable and cost-effective source of energy in areas with limited access to the grid. Local special circumstances in Africa also contribute to the development of the Energy Management market.

Many countries in the region face challenges in terms of energy access and reliability. This has created a need for innovative energy management solutions that can help address these issues. For example, microgrids and off-grid solutions are becoming increasingly popular in rural areas where access to the grid is limited.

These solutions allow communities to generate and manage their own energy, reducing their dependence on traditional energy sources. Underlying macroeconomic factors also play a role in the development of the Energy Management market in Africa. Rapid urbanization and population growth in many African countries have increased the demand for energy, putting strain on existing infrastructure.

Energy management systems and solutions can help alleviate this strain by optimizing energy usage and reducing waste. Additionally, government initiatives and policies aimed at promoting renewable energy and energy efficiency have created a favorable environment for the growth of the Energy Management market. In conclusion, the Energy Management market in Africa is experiencing growth and development due to customer preferences for sustainable and efficient energy solutions, the adoption of smart energy management technologies, the increasing use of renewable energy sources, local special circumstances, and underlying macroeconomic factors.

Data coverage:

The data encompasses B2C enterprises. Figures are based on the sales of smart home products, excluding taxes.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on a specific rationale for each market category. As a basis for evaluating markets, we use the Statista Global Consumer Survey, market data from independent databases and third-party sources, and Statista interviews with market experts. In addition, we use relevant key market indicators and data from country-specific associations, such as household internet penetration and consumer spending for households. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting innovative products due to the non-linear growth of technology adoption. The main drivers are GDP/capita, level of digitization, and consumer attitudes toward smart home integration.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated once a year, in case market dynamics change we do more frequent updates.

This report presents a comprehensive analysis and additional information on the Consumer market, in a PDF format.

Smart homes use connected devices and appliances to perform actions, tasks, and automated routines to save money, time, and energy. They are the ongoing revolution of the humble home appliance mixed with AI, robotics, and improvement in IoT technologies. AI in particular, speeding up response times and working as an automation bridge between homeowner and home is already having an impact.