Energy Management - Mozambique | Statista Market Forecast

Revenue in the Energy Management market is projected to reach US$2.2m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 8.21%, resulting in a projected market volume of US$3.3m by 2029.
In the Energy Management market, the number of active households is expected to amount to 73.2k users by 2029.
Household penetration will be 0.7% in 2024 and is expected to hit 0.9% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$47.98.

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 Mozambique is experiencing significant growth and development. Customer preferences are shifting towards more sustainable and efficient energy solutions, driving the demand for energy management systems.

Additionally, local special circumstances and underlying macroeconomic factors are contributing to the expansion of the market. Customer preferences in Mozambique are increasingly focused on sustainability and energy efficiency. As the country strives to reduce its carbon footprint and promote renewable energy sources, there is a growing demand for energy management systems that can optimize energy consumption and reduce waste.

Customers are seeking solutions that can help them monitor and control their energy usage, leading to cost savings and environmental benefits. Trends in the Energy Management market in Mozambique are aligned with global and regional trends. The increasing adoption of smart grid technologies and the Internet of Things (IoT) is driving the demand for energy management systems.

These technologies enable the collection and analysis of data, allowing customers to make informed decisions about their energy usage. Energy management systems are also becoming more advanced, incorporating artificial intelligence and machine learning algorithms to optimize energy consumption in real-time. Local special circumstances in Mozambique contribute to the development of the Energy Management market.

The country has a rich natural resource base, including significant reserves of natural gas and renewable energy potential. This presents opportunities for the development of energy management systems that can integrate and optimize the use of these resources. Additionally, Mozambique is experiencing rapid urbanization, leading to increased energy consumption and the need for efficient energy management solutions.

Underlying macroeconomic factors also play a role in the growth of the Energy Management market in Mozambique. The government's commitment to sustainable development and the diversification of the energy sector has created a favorable business environment for energy management companies. Furthermore, Mozambique is attracting foreign investment in the energy sector, which is driving the adoption of energy management systems.

In conclusion, the Energy Management market in Mozambique is experiencing growth and development due to shifting customer preferences, global and regional trends, local special circumstances, and underlying macroeconomic factors. The demand for energy management systems is driven by the need for sustainability, energy efficiency, and cost savings. As Mozambique continues to invest in renewable energy and smart grid technologies, the market is expected to expand further.

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.