Energy Management - Jordan | Statista Market Forecast

Revenue in the Energy Management market is projected to reach US$1.4m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 5.70%, resulting in a projected market volume of US$1.8m by 2029.
In the Energy Management market, the number of active households is expected to amount to 671.0k users by 2029.
Household penetration will be 23.2% in 2024 and is expected to hit 30.9% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$2.70.

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 Jordan has been experiencing significant growth in recent years. Customer preferences in the market have shifted towards more sustainable and efficient energy solutions.

With the increasing awareness of climate change and the need to reduce carbon emissions, customers are looking for ways to optimize their energy consumption and reduce their environmental impact. This has led to a growing demand for energy management solutions that can help businesses and households monitor and control their energy usage. One of the key trends in the market is the adoption of smart grid technologies.

Smart grids enable the integration of renewable energy sources, such as solar and wind power, into the existing energy infrastructure. They also allow for real-time monitoring and control of energy consumption, which can help identify areas of inefficiency and optimize energy usage. The implementation of smart grid technologies in Jordan has been supported by government initiatives and incentives, further driving the growth of the energy management market.

Another trend in the market is the increasing use of energy management systems in commercial buildings. Commercial buildings account for a significant portion of energy consumption in Jordan, and businesses are looking for ways to reduce their energy costs and improve their sustainability. Energy management systems can provide real-time data on energy usage, identify areas of waste, and automate energy-saving measures.

This not only helps businesses reduce their energy bills, but also improves their environmental performance and corporate social responsibility. The local special circumstances in Jordan have also contributed to the development of the energy management market. Jordan is a country with limited natural resources, including fossil fuels.

This has led to a heavy reliance on imported energy, which can be costly and vulnerable to supply disruptions. As a result, there is a strong incentive for businesses and households to reduce their energy consumption and become more self-sufficient. Energy management solutions offer a way to achieve these goals by optimizing energy usage and integrating renewable energy sources.

Underlying macroeconomic factors have also played a role in the growth of the energy management market in Jordan. The government has implemented various policies and incentives to promote renewable energy and energy efficiency, including feed-in tariffs for renewable energy projects and tax incentives for energy-saving investments. These policies have created a favorable business environment for energy management companies and have attracted both domestic and international investments in the sector.

In conclusion, the Energy Management market in Jordan is experiencing growth due to changing customer preferences, the adoption of smart grid technologies, the increasing use of energy management systems in commercial buildings, local special circumstances, and underlying macroeconomic factors. As the country continues to prioritize sustainability and energy efficiency, the energy management market is expected to further expand in the coming years.

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.