Energy Management - Angola | Statista Market Forecast

Revenue in the Energy Management market is projected to reach US$2.4m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 8.44%, resulting in a projected market volume of US$3.6m by 2029.
In the Energy Management market, the number of active households is expected to amount to 869.4k users by 2029.
Household penetration will be 8.6% in 2024 and is expected to hit 9.3% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$3.44.

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 Angola is experiencing significant growth and development due to several key factors.

Customer preferences: Angolan customers are increasingly seeking energy management solutions to address the country's growing energy demands. With a rapidly expanding population and increasing industrialization, there is a rising need for efficient energy consumption and cost savings. Customers are looking for solutions that can help them monitor and optimize their energy usage, reduce waste, and improve overall energy efficiency. Additionally, there is a growing interest in renewable energy sources as a means to diversify the energy mix and reduce dependence on fossil fuels.

Trends in the market: One of the major trends in the Energy Management market in Angola is the adoption of smart grid technologies. Smart grids enable real-time monitoring and control of energy distribution, allowing for more efficient energy management and better integration of renewable energy sources. This trend is driven by the need to improve the reliability and stability of the energy grid, as well as the desire to reduce energy losses during transmission and distribution. Another trend in the market is the increasing use of energy management systems in commercial and industrial sectors. These systems help businesses track and analyze their energy consumption patterns, identify areas of inefficiency, and implement measures to reduce energy waste. This trend is driven by the desire to cut costs, improve sustainability, and comply with energy efficiency regulations.

Local special circumstances: Angola is a country rich in natural resources, particularly oil and gas. However, the country faces challenges in terms of energy infrastructure and access. Many rural areas still lack access to electricity, and the existing energy grid is often unreliable. These circumstances create opportunities for the Energy Management market to provide off-grid and decentralized energy solutions, such as solar power systems and mini-grids. Additionally, the government has implemented policies and incentives to promote renewable energy development, further driving the growth of the Energy Management market in Angola.

Underlying macroeconomic factors: Angola is experiencing economic diversification and rapid urbanization, which are driving the demand for energy management solutions. As the country's economy grows and more people move to urban areas, the demand for electricity and energy services increases. This creates a need for more efficient energy management to ensure reliable and affordable energy supply. Furthermore, the government's focus on sustainable development and environmental protection is also contributing to the growth of the Energy Management market, as it encourages the adoption of energy-efficient and renewable energy technologies. In conclusion, the Energy Management market in Angola is developing due to customer preferences for energy efficiency and cost savings, the adoption of smart grid technologies, the use of energy management systems in commercial and industrial sectors, local special circumstances such as the need for off-grid solutions and government policies promoting renewable energy, and underlying macroeconomic factors such as economic diversification and rapid urbanization.

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.