Energy Management - Moldova | Statista Market Forecast

Revenue in the Energy Management market is projected to reach US$1.2m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 4.99%, resulting in a projected market volume of US$1.5m by 2029.
In the Energy Management market, the number of active households is expected to amount to 138.8k users by 2029.
Household penetration will be 13.7% in 2024 and is expected to hit 17.5% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$10.14.

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 Moldova is experiencing steady growth and development due to several key factors.

Customer preferences: Customers in Moldova are increasingly prioritizing energy efficiency and sustainability in their homes and businesses. They are looking for solutions that can help them reduce energy consumption, lower costs, and minimize their environmental impact. As a result, there is a growing demand for energy management systems and services that can help monitor and optimize energy usage.

Trends in the market: One of the key trends in the Energy Management market in Moldova is the adoption of smart grid technology. Smart grids enable the efficient integration of renewable energy sources, such as solar and wind, into the existing power infrastructure. This allows for better management of energy supply and demand, as well as improved grid reliability and stability. The implementation of smart grid technology is driving the demand for energy management solutions that can effectively monitor and control energy usage. Another trend in the market is the increasing use of energy management software. These software solutions provide real-time monitoring and analysis of energy consumption, allowing businesses to identify areas of inefficiency and implement energy-saving measures. Energy management software also enables remote monitoring and control, which is particularly beneficial for large commercial and industrial facilities. The growing popularity of energy management software is driving the overall growth of the market.

Local special circumstances: Moldova, as a country heavily dependent on energy imports, faces challenges in ensuring a stable and affordable energy supply. The government has recognized the importance of energy efficiency and has implemented various policies and incentives to promote the adoption of energy management solutions. These include financial incentives for energy-saving investments, as well as regulations that require large energy consumers to implement energy management systems.

Underlying macroeconomic factors: The Energy Management market in Moldova is also influenced by macroeconomic factors such as population growth, urbanization, and industrialization. As the population continues to grow and urban areas expand, there is an increased demand for energy to power homes, businesses, and industries. This creates a need for effective energy management solutions to ensure the efficient use of resources and minimize waste. In conclusion, the Energy Management market in Moldova is growing due to customer preferences for energy efficiency and sustainability, as well as the adoption of smart grid technology and energy management software. The local special circumstances, such as the country's dependence on energy imports and government incentives, further drive the market growth. Additionally, underlying macroeconomic factors such as population growth and urbanization contribute to the increasing demand for energy management solutions.

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.