Energy Management - Burundi | Statista Market Forecast

Revenue in the Energy Management market is projected to reach US$437.1k in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 10.27%, resulting in a projected market volume of US$712.8k by 2029.
In the Energy Management market, the number of active households is expected to amount to 241.2k users by 2029.
Household penetration will be 8.1% in 2024 and is expected to hit 8.5% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$2.12.

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 Burundi is experiencing significant growth and development. Customer preferences in the Energy Management market in Burundi are shifting towards more sustainable and efficient energy solutions.

With increasing awareness about the environmental impact of traditional energy sources, customers are seeking ways to reduce their carbon footprint and lower their energy costs. This has led to a growing demand for energy management systems that can optimize energy usage, monitor energy consumption, and provide real-time data on energy efficiency. Trends in the market show that there is a strong focus on renewable energy sources in Burundi.

The government has implemented policies and incentives to promote the use of renewable energy, such as solar power and hydropower. This has attracted investments from both local and international companies, leading to the development of renewable energy projects across the country. In addition, there is a growing interest in energy storage solutions, as they can help stabilize the grid and provide backup power during periods of high demand or power outages.

Local special circumstances in Burundi also contribute to the development of the Energy Management market. The country has a high dependence on imported fossil fuels for its energy needs, which makes it vulnerable to price fluctuations in the global market. This has prompted the government to explore alternative energy sources and invest in energy management systems to reduce reliance on fossil fuels.

Furthermore, Burundi has a strong agricultural sector, which can benefit from energy management solutions to optimize energy usage in farming and processing activities. Underlying macroeconomic factors also play a role in the development of the Energy Management market in Burundi. The country has a growing population and a rising middle class, which is driving an increase in energy consumption.

This creates a need for more efficient energy management systems to meet the growing demand while minimizing the environmental impact. Additionally, Burundi is part of the East African Community, which aims to promote regional integration and economic development. This provides opportunities for cross-border collaboration and investment in the Energy Management market.

In conclusion, the Energy Management market in Burundi is developing due to changing customer preferences, trends towards renewable energy sources, local special circumstances, and underlying macroeconomic factors. As the country seeks to reduce its dependence on fossil fuels and promote sustainable energy solutions, there is a growing demand for energy management systems that can optimize energy usage and reduce costs. This presents opportunities for companies in the Energy Management market to expand their operations and contribute to the country's energy transition.

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.