Energy Management - Belgium

  • Belgium
  • Revenue in the Energy Management market is projected to reach US$51.7m in 2024.
  • Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 9.21%, resulting in a projected market volume of US$73.6m by 2028.
  • In the Energy Management market, the number of active households is expected to amount to 1.3m users by 2028.
  • Household penetration will be 12.4% in 2024 and is expected to hit 25.7% by 2028.
  • The average revenue per installed Smart Home currently is expected to amount to US$82.86.
Region comparison

Analyst Opinion

The Energy Management market in Belgium is experiencing significant growth and development. Customer preferences are shifting towards more sustainable and efficient energy solutions, driving the demand for energy management systems and services.

Additionally, local special circumstances and underlying macroeconomic factors are contributing to the growth of the market. Customer preferences in Belgium are increasingly focused on sustainability and energy efficiency. With growing awareness of climate change and the need to reduce carbon emissions, consumers and businesses are seeking ways to optimize their energy usage.

This has led to a rise in the adoption of energy management systems, which help monitor and control energy consumption. Customers are also looking for solutions that can integrate renewable energy sources, such as solar and wind power, into their energy management strategies. Trends in the market indicate a growing demand for smart energy solutions.

The integration of smart technologies, such as Internet of Things (IoT) devices and advanced data analytics, allows for more efficient energy management. Smart meters and sensors enable real-time monitoring of energy usage, while data analytics provide insights for optimizing energy consumption. This trend is driving the development of innovative energy management solutions that can intelligently analyze and adjust energy usage based on demand and availability.

Local special circumstances in Belgium, such as government initiatives and regulations, are also contributing to the growth of the Energy Management market. The government has implemented various policies to promote energy efficiency and renewable energy sources. For example, there are incentives and subsidies available for businesses and households that invest in energy-saving measures.

This encourages the adoption of energy management systems and services, as they can help meet the requirements for these incentives. Underlying macroeconomic factors, such as the increasing cost of energy and the need for energy security, are further driving the growth of the Energy Management market in Belgium. The rising cost of traditional energy sources, such as fossil fuels, is prompting consumers and businesses to find ways to reduce their energy expenses.

Energy management systems and services offer cost-saving opportunities by optimizing energy usage and identifying areas of inefficiency. Additionally, ensuring energy security is a priority for Belgium, as the country relies heavily on energy imports. Energy management solutions help diversify the energy mix and reduce dependence on external sources.

In conclusion, the Energy Management market in Belgium is experiencing growth and development due to shifting customer preferences towards sustainability and energy efficiency, as well as local special circumstances and underlying macroeconomic factors. The demand for energy management systems and services is driven by the need for smart energy solutions, government initiatives, and the rising cost of energy.


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.


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.


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