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MADISON SQUARE GARDEN ENTERTAINMENT CORP. REPORTS FISCAL 2024 FOURTH QUARTER AND FULL YEAR RESULTS

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1 month ago

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Fiscal 2024 Revenues of $959.3 Million, up 13% Versus Prior Year and Above High-End of Guidance Range(1)

Fiscal 2024 Operating Income of $111.9 Million and AOI of $211.5 Million, Both Above High-End of Guidance Range(1)(2)

NEW YORK, Aug. 16, 2024 /PRNewswire/ — Madison Square Garden Entertainment Corp. (NYSE: MSGE) (“MSG Entertainment” or the “Company”) today reported financial results for the fiscal fourth quarter and full-year ended June 30, 2024.

Fiscal 2024 marked the first full year of operations for MSG Entertainment as a standalone public company. During the year, the Company hosted approximately 6.3 million guests at over 960 events, which reflects robust growth in the number of events in the Company’s bookings business, as well as regular season and playoff games at The Garden for both the Knicks and Rangers. It also reflects over 1 million tickets sold across 193 shows for the Christmas Spectacular production, which generated record-setting revenues in fiscal 2024. Positive operating momentum throughout the year led the Company to increase its financial guidance twice during fiscal 2024. A strong fiscal fourth quarter led by The Garden resulted in full year financial results that exceeded the high-end of the Company’s guidance ranges for revenues, operating income and adjusted operating income.(1)(2)

Financial results for the three and twelve months ended June 30, 2024 reflect the Company on a fully standalone basis. Results for the prior year through April 20, 2023, which was the date of the spin-off from Sphere Entertainment Co. (“Sphere Entertainment”), are presented in accordance with generally accepted accounting principles (“GAAP”) for the preparation of carve-out financial statements. These prior year results (through April 20, 2023) do not include all of the expenses that would have been incurred by MSG Entertainment had it been a standalone company for the periods presented. Therefore, results for the three and twelve months ended June 30, 2024 are not fully comparable with results for the prior year periods.

For fiscal 2024, the Company reported revenues of $959.3 million, an increase of $107.8 million, or 13%, as compared to the prior year. In addition, the Company reported operating income of $111.9 million, an increase of $6.9 million, and adjusted operating income of $211.5 million, an increase of $9.9 million, both as compared to the prior year.(2)

For the fiscal 2024 fourth quarter, the Company reported revenues of $186.1 million, an increase of $38.1 million, or 26%, as compared to the prior year quarter. In addition, the Company reported an operating loss of $8.9 million and adjusted operating income of $13.1 million, representing improvements of $12.9 million and $12.4 million, respectively, as compared to the prior year quarter.(2)

Executive Chairman and CEO James L. Dolan said, “We delivered strong financial results in our first full year as a standalone entertainment company. Looking ahead, we believe our Company – with its unique portfolio of live entertainment offerings – is well positioned to generate robust adjusted operating income growth in fiscal 2025.”

Results for the Three and Twelve Months Ended June 30, 2024 and 2023:

Three Months Ended

Twelve Months Ended

June 30,

Change

June 30,

Change

$ millions

2024

2023

$

%

2024

2023

$

%

Revenues

$    186.1

$    147.9

$     38.1

26 %

$    959.3

$    851.5

$   107.8

13 %

Operating Income (Loss)

$       (8.9)

$     (21.8)

$     12.9

59 %

$    111.9

$    105.0

$       6.9

7 %

Adjusted Operating Income

$      13.1

$        0.7

$     12.4

NM

$    211.5

$    201.6

$       9.9

5 %

 

Note: Amounts may not foot due to rounding. NM — Absolute percentages greater than 200% and comparisons from positive to negative values or to zero values are considered not meaningful.

(1)

The Company’s most recent financial guidance for fiscal 2024 was for revenues of $940-$950 million, operating income of $100-$110 million, and adjusted operating income of $200-210 million.

(2)

See page 3 of this earnings release for the definition of adjusted operating income (loss) included in the discussion of non-GAAP financial measures. During the third quarter of fiscal 2024, the Company amended this definition so that the non-cash portion of operating lease revenue related to the Company’s Arena License Agreements with Madison Square Garden Sports Corp.  (“MSG Sports”) is no longer excluded in all periods presented. For the three and twelve months ended June 30, 2024, the non-cash portion of operating lease revenue was $2.5 million and $25.3 million, respectively, and for the three and twelve months ended June 30, 2023 the non-cash portion of operating lease revenue was $1.5 million and $26.5 million, respectively.

 

Entertainment Offerings, Arena License Fees and Other Leasing
Fiscal 2024 fourth quarter revenues from entertainment offerings of $142.9 million increased $23.3 million, or 20%, as compared to the prior year period, primarily due to higher event-related revenues, an increase in revenues subject to the sharing of economics with MSG Sports pursuant to the Arena License Agreements and, to a lesser extent, an increase in venue-related sponsorship, signage and suite license fees.

Event-related revenues increased $13.2 million, primarily due to an increase in the number of concerts at The Garden as compared to the prior year quarter.Revenues subject to the sharing of economics with MSG Sports pursuant to the Arena License Agreements increased $7.7 million, primarily due to higher suite license fee revenues as compared to the prior year quarter.Venue-related sponsorship, signage and suite license fees revenues increased $1.5 million as compared to the prior year quarter.

Fiscal 2024 fourth quarter arena license fees and other leasing revenues of $8.5 million increased $3.6 million, or 75%, as compared to the prior year period, primarily due to higher arena license fees, the result of more Rangers and Knicks regular season games played at The Garden as compared to the prior year quarter.

Fiscal 2024 fourth quarter direct operating expenses associated with entertainment offerings, arena license fees and other leasing of $99.7 million increased $11.7 million, or 13%, as compared to the prior year quarter. 

Event-related expenses increased $5.1 million, primarily due to higher expenses incurred as a result of the increase in event-related revenues.Expenses associated with the sharing of economics with MSG Sports pursuant to the Arena License Agreements increased $5.8 million, primarily due to higher expenses incurred as a result of the increase in suite license fee revenues.

Food, Beverage and Merchandise
Fiscal 2024 fourth quarter food, beverage and merchandise revenues of $34.7 million increased $11.2 million, or 48%, as compared to the prior year period. This reflects higher food and beverage sales at Rangers and Knicks games at The Garden (primarily due to more regular season and playoff home games) and, to a lesser extent, an increase in food and beverage sales at concerts and other live sporting and entertainment events at the Company’s venues, all as compared to the prior year quarter.

Fiscal 2024 fourth quarter food, beverage and merchandise direct operating expenses of $22.7 million increased $8.1 million, or 56%, as compared to the prior year quarter, primarily driven by the related increase in food and beverage revenues.

Selling, General and Administrative Expenses
Fiscal 2024 fourth quarter selling, general and administrative expenses of $55.8 million increased $3.1 million, or 6%, as compared with the prior year period.  Fiscal 2024 fourth quarter results reflect the Company on a fully standalone basis. Results for the fiscal 2023 fourth quarter reflect the allocation of corporate and administrative costs based on the accounting requirements for the preparation of carve-out financial statements through the April 20, 2023 spin-off date and reflect the Company on a fully standalone basis for the balance of the fiscal 2023 fourth quarter. Therefore, results for the fiscal 2023 fourth quarter do not include all of the expenses that would have been incurred by MSG Entertainment had it been a standalone company for the entire period.

Operating Income and Adjusted Operating Income
Fiscal 2024 fourth quarter operating loss of $8.9 million improved $12.9 million and adjusted operating income of $13.1 million increased $12.4 million, both as compared to the prior year quarter. The improvement in operating loss and the increase in adjusted operating income were primarily due to higher revenues, partially offset by higher direct operating expenses and, to a lesser extent, higher selling, general and administrative expenses.

About Madison Square Garden Entertainment Corp.
Madison Square Garden Entertainment Corp. (MSG Entertainment) is a leader in live entertainment, delivering unforgettable experiences while forging deep connections with diverse and passionate audiences. The Company’s portfolio includes a collection of world-renowned venues – New York’s Madison Square Garden, The Theater at Madison Square Garden, Radio City Music Hall, and Beacon Theatre; and The Chicago Theatre – that showcase a broad array of sporting events, concerts, family shows, and special events for millions of guests annually. In addition, the Company features the original production, the Christmas Spectacular Starring the Radio City Rockettes, which has been a holiday tradition for 90 years. More information is available at www.msgentertainment.com.

Non-GAAP Financial Measures
During the third quarter of fiscal 2024, the Company amended its definition of adjusted operating income (loss) so that the impact of the non-cash portion of operating lease revenue related to the Company’s Arena License Agreements with MSG Sports is no longer excluded in the calculation of adjusted operating income (loss) in all periods presented.

We define adjusted operating income (loss), which is a non-GAAP financial measure, as operating income (loss) excluding (i) depreciation, amortization and impairments of property and equipment, goodwill and other intangible assets, (ii) share-based compensation expense or benefit, (iii) restructuring charges or credits, (iv) merger, spin-off, and acquisition-related costs, including merger-related litigation expenses, (v) gains or losses on sales or dispositions of businesses and associated settlements, (vi) the impact of purchase accounting adjustments related to business acquisitions, (vii) gains and losses related to the remeasurement of liabilities under the executive deferred compensation plan, and (viii) amortization for capitalized cloud computing arrangement costs. We believe that the exclusion of share-based compensation expense or benefit allows investors to better track the performance of the various operating units of our business without regard to the settlement of an obligation that is not expected to be made in cash. We eliminate merger, spin-off, and acquisition-related costs, when applicable, because the Company does not consider such costs to be indicative of the ongoing operating performance of the Company as they result from an event that is of a non-recurring nature, thereby enhancing comparability. In addition, management believes that the exclusion of gains and losses related to the remeasurement of liabilities under the executive deferred compensation plan, provides investors with a clearer picture of the Company’s operating performance given that, in accordance with U.S. generally accepted accounting principles, gains and losses related to the remeasurement of liabilities under the executive deferred compensation plan are recognized in Operating (income) loss whereas gains and losses related to the remeasurement of the assets under the executive deferred compensation plan, which are equal to and therefore fully offset the gains and losses related to the remeasurement of liabilities, are recognized in Other income (expense), net, which is not reflected in Operating income (loss).

We believe adjusted operating income (loss) is an appropriate measure for evaluating the operating performance of the Company on a consolidated and combined basis. Adjusted operating income (loss) and similar measures with similar titles are common performance measures used by investors and analysts to analyze our performance. Internally, we use revenues and adjusted operating income (loss) as the most important indicators of our business performance, and evaluate management’s effectiveness with specific reference to these indicators. Adjusted operating income (loss) should be viewed as a supplement to and not a substitute for operating income (loss), net income (loss), cash flows from operating activities, and other measures of performance and/or liquidity presented in accordance with GAAP. Since adjusted operating income (loss) is not a measure of performance calculated in accordance with GAAP, this measure may not be comparable to similar measures with similar titles used by other companies. For a reconciliation of operating income (loss) to adjusted operating income (loss), please see page 5 of this release.

Forward-Looking Statements
This press release may contain statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that any such forward-looking statements are not guarantees of future performance or results and involve risks and uncertainties, and that actual results, developments or events may differ materially from those in the forward-looking statements as a result of various factors, including financial community perceptions of the Company and its business, operations, financial condition and the industries in which it operates and the factors described in the Company’s filings with the Securities and Exchange Commission, including the sections titled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” contained therein. The Company disclaims any obligation to update any forward-looking statements contained herein.

Contacts:

Ari Danes, CFA
Senior Vice President, Investor Relations, Financial Communications & Treasury
Madison Square Garden Entertainment Corp.
(212) 465-6072

Justin Blaber
Vice President, Financial Communications
Madison Square Garden Entertainment Corp.
(212) 465-6109

Grace Kaminer
Vice President, Investor Relations & Treasury
Madison Square Garden Entertainment Corp.
(212) 631-5076

Conference Call Information:
The conference call will be Webcast live today at 8:30 a.m. ET at investor.msgentertainment.com
Conference call dial-in number is 888-660-6386 / Conference ID Number 8020251
Conference call replay number is 800-770-2030 / Conference ID Number 8020251 until August 23, 2024
Investor presentation available at investor.msgentertainment.com/events-and-presentations/

 

MADISON SQUARE GARDEN ENTERTAINMENT CORP.

CONSOLIDATED AND COMBINED STATEMENTS OF OPERATIONS

(In thousands, except per share data)

(Unaudited)

Three Months Ended

June 30,

Twelve Months Ended

June 30,

2024

2023

2024

2023

Revenues

Revenues from entertainment offerings

$       142,872

$       119,554

$       723,897

$       643,885

Food, beverage, and merchandise revenues

34,713

23,521

162,092

135,933

Arena license fees and other leasing revenue

8,489

4,860

73,276

71,678

Total revenues

$       186,074

147,935

959,265

851,496

Direct operating expenses

Entertainment offerings, arena license fees, and other leasing
direct operating expenses

(99,716)

(88,011)

(475,502)

(420,301)

Food, beverage, and merchandise direct operating expenses

(22,661)

(14,520)

(93,334)

(79,628)

Total direct operating expenses

(122,377)

(102,531)

(568,836)

(499,929)

Selling, general and administrative expenses

(55,807)

(52,679)

(206,963)

(180,216)

Depreciation and amortization

(13,904)

(14,094)

(53,876)

(60,463)

Gains, net on dispositions

—

—

—

4,361

Restructuring charges

(2,846)

(421)

(17,649)

(10,241)

Operating (loss) income

(8,860)

(21,790)

111,941

105,008

Interest income

701

1,440

2,976

7,244

Interest expense

(14,193)

(13,814)

(57,954)

(51,869)

Other (expense) income, net

(3,127)

10,605

(4,672)

17,389

(Loss) income from operations before income taxes

(25,479)

(23,559)

52,291

77,772

Income tax benefit (expense)

92,406

(924)

92,009

(1,728)

Net income (loss)

66,927

(24,483)

144,300

76,044

Less: Net loss attributable to nonredeemable noncontrolling
interest

—

—

—

(553)

Net income (loss) attributable to MSG Entertainment’s
stockholders

$         66,927

$       (24,483)

$       144,300

$         76,597

Earnings (loss) per share attributable to MSG
Entertainment’s stockholders:

Basic

$             1.42

$           (0.47)

$             2.99

$             1.48

Diluted

$             1.41

$           (0.47)

$             2.97

$             1.47

Weighted-average number of shares of common stock:

Basic

47,067

51,819

48,275

51,819

Diluted

47,599

51,819

48,589

52,278

 

MADISON SQUARE GARDEN ENTERTAINMENT CORP.
ADJUSTMENTS TO RECONCILE OPERATING INCOME (LOSS) TO
ADJUSTED OPERATING INCOME (LOSS)
(in thousands)
(Unaudited)

The following is a description of the adjustments to operating income (loss) in arriving at adjusted operating income as described in this earnings release:

Depreciation and amortization. This adjustment eliminates depreciation and amortization of property and equipment and intangible assets.Share-based compensation. This adjustment eliminates the compensation expense relating to restricted stock units, performance stock units and stock options granted under the Company’s Employee Stock Plan, Sphere Entertainment’s Employee Stock Plan, the Company’s Non-Employee Director Plan and Sphere Entertainment’s Non-Employee Director Plan.Gains, net on dispositions. This adjustment eliminates the impact of gains or losses from the disposition of assets or businesses.Restructuring charges. This adjustment eliminates costs related to termination benefits provided to certain corporate executives and employees.Merger, spin-off, and acquisition-related costs. This adjustment eliminates costs related to mergers, spin-offs and acquisitions, including merger-related litigation expenses.Amortization for capitalized cloud computing arrangement costs. This adjustment eliminates amortization of capitalized cloud computing arrangement costs.Remeasurement of deferred compensation plan liabilities. This adjustment eliminates the impact of gains and losses related to the remeasurement of liabilities under the executive deferred compensation plan.

Three Months Ended

Twelve Months Ended

June 30,

June 30,

$ thousands

2024

2023

2024

2023

Operating (loss) income

$         (8,860)

$       (21,790)

$      111,941

$       105,008

Depreciation and amortization

13,904

14,094

53,876

60,463

Share-based compensation

4,983

7,541

24,544

29,521

Gains, net on dispositions

—

—

—

(4,361)

Restructuring charges

2,846

421

17,649

10,241

Merger, spin-off, and acquisition related costs(1)

—

—

2,035

—

Amortization for capitalized cloud computing arrangement costs

172

431

1,008

600

Remeasurement of deferred compensation plan liabilities

63

(11)

452

121

Adjusted operating income(2)

$         13,108

$              686

$      211,505

$       201,593

_________________

(1)

This adjustment represents non-recurring costs incurred and paid by the Company for the sale of the retained interest by Sphere Entertainment Co.

(2)

During the third quarter of fiscal 2024, the Company amended the definition of adjusted operating income so that the impact of the non-cash portion of operating lease revenue related to the Company’s Arena License Agreements with MSG Sports is no longer excluded in all periods presented. Pursuant to GAAP, recognition of operating lease revenue is recorded on a straight-line basis over the term of the agreement based upon the value of total future payments under the arrangement. As a result, operating lease revenue is comprised of a contractual cash component plus or minus a non-cash component for each period presented. Adjusted operating income includes operating lease revenue of (i) $4,159 and $42,769 of revenue collected in cash for the three and twelve months ended June 30, 2024, respectively, and $2,290 and $41,524 of revenue collected in cash for the three and twelve months ended June 30, 2023, respectively, and (ii) a non-cash portion of $2,467 and $25,299 for the three and twelve months ended June 30, 2024, respectively, and $1,467 and $26,545 for the three and twelve months ended June 30, 2023, respectively.

 

MADISON SQUARE GARDEN ENTERTAINMENT CORP.

 CONSOLIDATED BALANCE SHEETS (unaudited)

(in thousands)

June 30,

2024

2023

ASSETS

Current Assets:

Cash, cash equivalents and restricted cash

$         33,555

$         84,355

Accounts receivable, net

77,259

63,898

Related party receivables, current

17,469

69,466

Prepaid expenses and other current assets

90,801

77,562

Total current assets

219,084

295,281

Non-Current Assets:

Property and equipment, net

633,533

628,888

Right-of-use lease assets

388,658

235,790

Goodwill

69,041

69,041

Indefinite-lived intangible assets

63,801

63,801

Deferred tax assets, net

68,307

—

Other non-current assets

110,283

108,356

Total assets

$    1,552,707

$    1,401,157

LIABILITIES AND DEFICIT

Current Liabilities:

Accounts payable, accrued and other current liabilities

$       203,750

$       214,725

Related party payables, current

42,506

47,281

Long-term debt, current

16,250

16,250

Operating lease liabilities, current

27,736

36,529

Deferred revenue

215,581

225,855

Total current liabilities

505,823

540,640

Non-Current Liabilities:

Long-term debt, net of deferred financing costs

599,248

630,184

Operating lease liabilities, non-current

427,014

219,955

Deferred tax liabilities, net

—

23,518

Other non-current liabilities

43,787

56,332

Total liabilities

1,575,872

1,470,629

Commitments and contingencies

Deficit:

Class A Common Stock (a)

456

450

Class B Common Stock (b)

69

69

Additional paid-in capital

33,481

17,727

Treasury stock at cost (4,365 and 840 shares as of June 30, 2024 and June 30, 2023,
respectively)

(140,512)

(25,000)

Retained earnings (deficit)

115,603

(28,697)

Accumulated other comprehensive loss

(32,262)

(34,021)

Total deficit

(23,165)

(69,472)

Total liabilities and deficit

$    1,552,707

$    1,401,157

_________________

(a)

Class A Common Stock, $0.01 par value per share, 120,000 shares authorized; 45,556 and 45,024 shares issued as of June 30, 2024 and June 30, 2023, respectively.

(b)

Class B Common Stock, $0.01 par value per share, 30,000 shares authorized; 6,867 shares issued as of June 30, 2024 and June 30, 2023.

 

MADISON SQUARE GARDEN ENTERTAINMENT CORP.

SELECTED CASH FLOW INFORMATION

(in thousands)

(Unaudited)

Twelve Months Ended

June 30,

2024

2023

Net cash provided by operating activities

$       111,266

$       135,694

Net cash (used in) provided by investing activities

(62,371)

30,305

Net cash used in financing activities

(99,695)

(144,217)

Net (decrease) increase in cash, cash equivalents and restricted cash

(50,800)

21,782

Cash, cash equivalents and restricted cash, beginning of period

84,355

62,573

Cash, cash equivalents and restricted cash, end of period

$         33,555

$         84,355

 

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SOURCE Madison Square Garden Entertainment Corp.

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Technology

The Radio Market is projected to grow by USD 8.47 Billion from 2024-2028, with AI-driven transformations enhancing access to music and live updates – Technavio

Published

47 mins ago

on

September 24, 2024

By

NEW YORK, Sept. 24, 2024 /PRNewswire/ — Report with the AI impact on market trends – The global radio market size is estimated to grow by USD 8.47 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  3%  during the forecast period. Access to latest music and live updates is driving market growth, with a trend towards online radio services  However, availability of music streaming services  poses a challenge – Key market players include Audacy Inc., Australian Broadcasting Corp., BCE Inc., Beasley Broadcast Group Inc., Bertelsmann SE and Co. KGaA, Bonneville International, Cox Enterprises Inc., Cumulus Media Inc., Deseret Management Corp., EMMIS Communications Corp., Global Media Group Services Ltd., Heinrich Bauer Verlag KG, iHeartMedia Inc., Minnesota Public Radio, Paramount Global, SAGA COMMUNICATIONS INC., SALEM MEDIA GROUP INC., Sirius XM Holdings Inc., The Walt Disney Co., and Townsquare Media Inc..

Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View the snapshot of this report

Radio Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 3%

Market growth 2024-2028

USD 8479.2 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

2.91

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

North America at 30%

Key countries

US, UK, Germany, China, and Japan

Key companies profiled

Audacy Inc., Australian Broadcasting Corp., BCE Inc., Beasley Broadcast Group Inc., Bertelsmann SE and Co. KGaA, Bonneville International, Cox Enterprises Inc., Cumulus Media Inc., Deseret Management Corp., EMMIS Communications Corp., Global Media Group Services Ltd., Heinrich Bauer Verlag KG, iHeartMedia Inc., Minnesota Public Radio, Paramount Global, SAGA COMMUNICATIONS INC., SALEM MEDIA GROUP INC., Sirius XM Holdings Inc., The Walt Disney Co., and Townsquare Media Inc.

Market Driver

Online radio streaming is a popular way to access radio content, with many vendors offering their services over the Internet. Some radio channels have merged with streaming portals, providing listeners with the flexibility to choose between live radio and on-demand music. Vendors like Pandora and Apple Music offer both services. The growing Internet penetration and mobile Internet availability are driving the demand for Internet radio, positively impacting the global radio market during the forecast period. 

[Background music playing softly in the background] Narrator (enthusiastically): “Hello and welcome to this week’s edition of Radio Market! Today, we’re diving into the latest trends shaping the radio industry. First up, mobile radios are on the rise, with interoperability ensuring seamless communication for terrestrial users. Digital technology brings US hand-held devices, like walkie talkies, offering group chats, enhanced voice quality, longer battery life, and budget-friendly prices. Advancements include breakthroughs in frequency ranges, allowing for higher quality audio and priority access. In the commercial sector, Cryptomania radio and Triton Digital lead the way, while military modernization embraces digital capabilities for trunking, digital capabilities, group calling, and rapid voice transmission. In the transportation and utility sectors, smart radios offer superior range accessibility. IHeartMedia in Athens, Greece, is testing analog voice with two-way communications, while digital technology continues to revolutionize radio communications. Stay tuned for more Radio Market updates!”

Request Sample of our comprehensive report now to stay ahead in the AI-driven market evolution!

Market Challenges

Music streaming services, including Amazon Music, Google Play Music, and Deezer, have emerged as significant competitors in the radio industry. With growing popularity and competitive pricing, an increasing number of listeners are opting for online music streaming instead of traditional radio. Many music streaming applications are accessible for free online, enabling users to play their preferred tracks. The proliferation of mobile Internet penetration allows listeners to access and download music on their mobile devices, offering convenience and flexibility. Music streaming platforms provide an extensive range of music genres and tracks, posing a challenge to the global radio market in the forecast period.[Background Music Playing] Narrator (Voiceover): “Welcome listeners to Cryptomania Radio, where we bring you the latest business news. Today, we’re discussing the challenges facing the radio industry, particularly in the areas of public safety communications. With the rise of digital capabilities in radio, players like Triton Digital and iHeartMedia are investing heavily in smart radio solutions. Military modernization and the need for real-time communication in the face of crime, terrorism, and natural disasters, have pushed the demand for high-quality audio, priority access, and effective response systems. Traditional analog voice systems are being replaced with two-way communications, trunking, and group calling. New technologies like rapid voice and site trunking are becoming essential for public safety agencies. However, these demands come with challenges such as spectrum efficiency, harmonized spectrum, and security threats. Cross-agency coordination and information sharing are also major factors. Vendor offerings, research methodologies, and interface manufacturers are key players in this market. The micromarkets for these solutions show individual growth trends, with joint ventures and research and development driving innovation. Stay tuned for more insights on Cryptomania Radio.”

Discover how AI is revolutionizing market trends- Get your access now!

Segment Overview 

This radio market report extensively covers market segmentation by

Type 1.1 Broadcast radio1.2 Online mobile radio1.3 Satellite radioRevenue 2.1 Advertising2.2 Public license fee2.3 SubscriptionGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 Broadcast radio-  The Radio Market is a thriving business sector where broadcasters reach out to diverse audiences through various radio formats. Advertisers invest in radio advertising due to its wide reach and affordability. Radio stations generate revenue through sponsorships, commercials, and subscriptions. Effective programming and audience engagement strategies are essential for radio stations to retain listeners and attract new ones. Radio’s accessibility and convenience make it an attractive advertising medium for businesses aiming to expand their customer base.

Download a Sample of our comprehensive report today to discover how AI-driven innovations are reshaping competitive dynamics

Research Analysis

[Opening jingle plays] [Host]: “Welcome to Cryptomania Radio, your daily source for the latest technology trends and innovations. Today, we’re diving into the world of modern radio communications. With the rise of digital capabilities, radio technology is evolving at an incredible pace. Triton Digital and other players are leading the charge towards smart radio, offering high-quality audio, priority access, and group calling features. But radio communications aren’t just for broadcasters anymore. Military modernization, crime prevention, and disaster response are all areas where two-way communications are essential. In Athens, Greece, analog voice systems are being replaced with digital trunking networks, providing more effective response to emergencies. New technologies like rapid voice and high-priority access are revolutionizing the way we communicate. From micromarkets to individual growth trends, research and development is key. Vendor offerings, interface manufacturers, and system integrators are all working together in joint ventures to push the boundaries of what’s possible. Stay tuned for more insights on this exciting topic.” [Closing jingle plays]

Market Research Overview

[Intro music plays] [Host]: “Welcome to Cryptomania Radio, your daily source for the latest trends and innovations in technology. Today, we’re diving into the world of radio communications, focusing on military modernization and the evolution of smart radios. [SFX: Military marching music] [Host]: “Gone are the days of analog voice and two-way communications. Military modernization has led to the adoption of digital capabilities, including group calling, priority access, and high-quality audio. But what about public safety and emergency response? Real-time communication is crucial during crime, terrorism, and natural disasters. [SFX: Siren sound] [Host]: “New technologies, such as site trunking and cross-agency coordination, are essential for effective response. Spectrum efficiency and harmonized spectrum are major factors in the micromarkets of individual growth trends. Vendor offerings from companies like Triton Digital and iHeartMedia are shaping the future of radio communications. [SFX: Radio static] [Host]: “From commercial applications in the transportation and utility sectors to advancements in handheld devices like walkie-talkies, digital technology is revolutionizing the way we communicate. Stay tuned for more on interoperability, seamless communication, and the future of radio communications. [SFX: Upbeat music]” [End music plays] [Host]: “That’s all for today on Cryptomania Radio. Join US tomorrow for another exciting episode. Until then, stay informed and stay connected.”

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

TypeBroadcast RadioOnline Mobile RadioSatellite RadioRevenueAdvertisingPublic License FeeSubscriptionGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

View original content to download multimedia:https://www.prnewswire.com/news-releases/the-radio-market-is-projected-to-grow-by-usd-8-47-billion-from-2024-2028–with-ai-driven-transformations-enhancing-access-to-music-and-live-updates–technavio-302255533.html

SOURCE Technavio

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Technology

Wireless Router Market to Grow by USD 8.09 Billion from 2024-2028, Driven by Rising Adoption of Smart Home Systems, AI Powered Report by Technavio

Published

47 mins ago

on

September 24, 2024

By

NEW YORK, Sept. 24, 2024 /PRNewswire/ — Report on how AI is driving market transformation- The global wireless router market size is estimated to grow by USD 8.09 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 9.24%  during the forecast period. Increasing adoption of smart connected home systems is driving market growth, with a trend towards increasing use of wireless router in retail industry. However, inferior communication network infrastructure in developing regions poses a challenge. Key market players include Adtran Holdings Inc., Amped Wireless, ASUSTeK Computer Inc., Broadcom Inc., Buffalo Americas Inc., China Huaxin Post and Telecom Technologies Co. Ltd., Cisco Systems Inc., D Link Corp., DrayTek Corp., EDIMAX Technology Co. Ltd., Extreme Networks Inc., Hon Hai Precision Industry Co. Ltd., Huawei Investment & Holding Co., Ltd., Juniper Networks Inc., MERCUSYS Technologies Co. Ltd., Netgear Inc., Shenzhen Tenda Technology Co. Ltd., SIA Mikrotikls, TP Link Corp. Ltd., and Xiaomi Communications Co. Ltd..

AI-Powered Market Evolution Insights. Our comprehensive market report ready with the latest trends, growth opportunities, and strategic analysis- View your snapshot now

Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

End-user (Non-Residential and Residential), Type (Fixed and Mobile), and Geography (North America, Europe, APAC, South America, and Middle East and Africa)

Region Covered

North America, Europe, APAC, South America, and Middle East and Africa

Key companies profiled

Adtran Holdings Inc., Amped Wireless, ASUSTeK Computer Inc., Broadcom Inc., Buffalo Americas Inc., China Huaxin Post and Telecom Technologies Co. Ltd., Cisco Systems Inc., D Link Corp., DrayTek Corp., EDIMAX Technology Co. Ltd., Extreme Networks Inc., Hon Hai Precision Industry Co. Ltd., Huawei Investment & Holding Co., Ltd., Juniper Networks Inc., MERCUSYS Technologies Co. Ltd., Netgear Inc., Shenzhen Tenda Technology Co. Ltd., SIA Mikrotikls, TP Link Corp. Ltd., and Xiaomi Communications Co. Ltd.

Key Market Trends Fueling Growth

In the retail industry, providing a cost-effective and optimal customer experience is crucial in a highly competitive market. Wireless connected solutions, including point-of-sale (POS) systems, vending machines, radio frequency identification systems, and kiosks, help retailers streamline processes and enhance the shopping experience. POS systems enable flexible payment options and improved queue management, creating a better customer experience. Retail businesses face numerous risks related to security, safety, communications, and building automation. Remote monitoring and security systems, such as machine-to-machine (M2M) security systems, play a vital role in mitigating these risks. These systems detect intrusion and shoplifting, handle fire and explosion incidents, and manage access authorizations. Retail security devices, like security alarms and mechanical security, are cost-effective solutions to protect merchandise. Technologies like electronic article surveillance are adopted to prevent shoplifting. M2M security systems, with declining installation costs and tariff rates, offer retailers real-time alerts and remote monitoring capabilities. Wireless routers are essential for the functioning of POS systems and security systems, enabling seamless information exchange among multiple devices in the retail sector. These factors contribute to the growth of the global wireless router market during the forecast period. 

The Wireless Router market is experiencing significant growth due to the increasing trend of Smart City Initiatives and the need for connectivity in various infrastructure projects. With the expansion of intelligent surveillance networks, public Wi-Fi hotspots, and smart transportation systems, the demand for high-performance wireless routers is on the rise. Consumer electronics such as gaming consoles, cellphones, and streaming devices also contribute to the market’s growth. Mesh networking is a popular trend, with mesh networking systems offering improved coverage and next-generation connectivity. However, the market faces challenges such as security worries, cybersecurity risks, and technological fragmentation due to the proliferation of ransomware, malware, and unauthorized access. High-end wireless routers are in demand for both residential and business settings, but their limited coverage necessitates the use of range extenders. Broadband connectivity and internet infrastructure investments are crucial for regulatory compliance requirements, especially in rural areas where digital services are essential. The market is witnessing the emergence of 5G, but privacy concerns persist, leading to the development of privacy-enhancing features and transparent data practices. Wi-Fi standards, including Wi-Fi 4 (802.11n), Wi-Fi 5 (802.11ac), and Wi-Fi 6 (802.11ax), continue to evolve to meet the demands of consumers and businesses alike. 

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Market Challenges

 A  network infrastructure is essential for efficient Internet communication and multimedia streaming, which involves Voice over Internet Protocol (VoIP) calls and live streaming of music and videos. However, several developing countries, including Bangladesh, Central African Republic, Nepal, and Haiti, lack the necessary Internet network and telecom infrastructure to support high-speed Internet networks. In many Asian countries, 4G technology is still in its initial stages, with Pakistan being one of the countries yet to witness significant adoption. The absence of 4G technology can hinder the growth of the wireless router market, as it is a crucial component of reliable and uninterrupted telecom services. Moreover, many rural areas in the Asia-Pacific and Middle East and Africa regions are still without 4G connections, and several developing countries lack geographically extensive telecom networks. These challenges will restrict the growth of the global wireless router market during the forecast period.The wireless router market faces challenges in providing reliable products that support interoperable single-band, dual-band, and tri-band devices. Interference from frequency bands can affect dependable internet access, especially during simultaneous connections. Dual-band routers are popular in industries like financial services, information technology, telecommunications, retail, and healthcare for connected devices such as heart-rate monitoring equipment and patient-centric care delivery. With the rise of high-speed internet, Wi-Fi 6 standards, smart homes, and 5G infrastructure, businesses need routers that can handle bandwidth-intensive apps, smart home gadgets, and network traffic. D-Link’s AI-powered Wi-Fi router and Wi-Fi 6E routers offer solutions for high-speed connectivity, security features, and seamless integration with smart devices. Companies like D-Link are addressing these challenges to meet the demands of distant work, online learning, and 5G networks for higher bandwidths and internet penetration.

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Segment Overview

This wireless router market report extensively covers market segmentation by

End-user 1.1 Non-Residential1.2 ResidentialType 2.1 Fixed2.2 MobileGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 Non-Residential-  The Wireless Router Market is experiencing significant growth due to the increasing demand for reliable and high-speed internet connections. Companies are investing in advanced technologies like MU-MIMO and beamforming to enhance network performance. Additionally, the rise of IoT devices and work-from-home culture is driving the market forward. Major players include Netgear, D-Link, and TP-Link, who are continuously innovating to meet consumer needs. Overall, the Wireless Router Market is poised for continued expansion in the coming years.

Download complimentary Sample Report to gain insights into AI’s impact on market dynamics, emerging trends, and future opportunities- including forecast (2024-2028) and historic data (2018 – 2022) 

Research Analysis

The wireless router market is a dynamic and growing industry that provides high-speed internet access for private computer networks, enabling wireless-only LAN connections for various devices such as laptops, smart home devices, Smart TVs, speakers, security cameras, and more. With the increasing number of connected devices and bandwidth-intensive apps, the demand for wireless routers and wireless access points is on the rise. The wireless router industry caters to both residential and commercial sectors, offering single-band, dual-band, and tri-band options to meet diverse network traffic needs. The advent of 5G infrastructure and Wi-Fi 6 technology, including Wi-Fi 6E routers, has further boosted the market’s growth. Mobile broadband and M2M communication are also driving new opportunities in the wireless router market, particularly for home offices and other remote work environments.

Market Research Overview

The wireless router market is a dynamic and growing industry that provides high-speed internet access for both residential and business settings. Wireless routers and wireless access points enable the creation of private computer networks, allowing connected devices such as laptops, smart home devices, and IoT gadgets to access the internet. The industry caters to various sectors including financial services, information technology, telecommunications, retail, and healthcare, among others. Wi-Fi technology, with its superior performance and interoperability, is a key driver for the market. Single-band, dual-band, and tri-band wireless routers cater to different needs, with dual-band and tri-band routers offering better performance in high-density areas and simultaneous connections. The wireless router industry is witnessing significant growth due to the increasing number of connected devices, the rise of high-speed internet markets, and the adoption of Wi-Fi 6 standards. The market is also being influenced by the proliferation of 5G networks and the higher bandwidths they offer, as well as the trend towards mesh networking systems. Security features are becoming increasingly important, with consumers and businesses demanding secure and reliable products. The market is also witnessing the emergence of AI-powered Wi-Fi routers and the integration of Wi-Fi technology into smart homes and cities. The market is expected to continue growing, driven by the increasing demand for next-generation connectivity and the increasing number of bandwidth-intensive apps and smart home gadgets. However, security worries remain a concern, and manufacturers must address these concerns to ensure customer trust.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

End-userNon-ResidentialResidentialTypeFixedMobileGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

View original content to download multimedia:https://www.prnewswire.com/news-releases/wireless-router-market-to-grow-by-usd-8-09-billion-from-2024-2028–driven-by-rising-adoption-of-smart-home-systems-ai-powered-report-by-technavio-302256627.html

SOURCE Technavio

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Technology

The home energy management systems market is projected to grow by USD 1.97 Billion from 2024-2028, with AI impacting trends and rising smart grid adoption driving revenue – Technavio

Published

47 mins ago

on

September 24, 2024

By

NEW YORK, Sept. 24, 2024 /PRNewswire/ — Report on how AI is redefining market landscape – The Global Home Energy Management Systems market  size is estimated to grow by USD 1.97 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  10.01%  during the forecast period.  Growing adoption of smart grid technologies is driving market growth, with a trend towards growing investment in smart cities and smart homes  However, high cost of implementation and interoperability issues  poses a challenge – Key market players include Capgemini Service SAS, Carrier Global Corp., Cisco Systems Inc., Comcast Corp., ecobee, Emerson Electric Co., General Electric Co., Honeywell International Inc., Intel Corp., Johnson Controls International Plc., Lennox International Inc., Liricco Technologies Ltd., Panasonic Holdings Corp., Resideo Technologies Inc., Robert Bosch GmbH, Schneider Electric SE, Siemens AG, Snap One LLC, tado GmbH, and Vivint Inc..

AI-Powered Market Evolution Insights. Our comprehensive market report ready with the latest trends, growth opportunities, and strategic analysis- View your snapshot now

Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Component (Hardware, Software, and Services), Product (Lighting controls, Programmable thermostats, Self-monitoring systems, and Advanced central controllers), and Geography (North America, Europe, APAC, South America, and Middle East and Africa)

Region Covered

North America, Europe, APAC, South America, and Middle East and Africa

Key companies profiled

Capgemini Service SAS, Carrier Global Corp., Cisco Systems Inc., Comcast Corp., ecobee, Emerson Electric Co., General Electric Co., Honeywell International Inc., Intel Corp., Johnson Controls International Plc., Lennox International Inc., Liricco Technologies Ltd., Panasonic Holdings Corp., Resideo Technologies Inc., Robert Bosch GmbH, Schneider Electric SE, Siemens AG, Snap One LLC, tado GmbH, and Vivint Inc.

Key Market Trends Fueling Growth

The smart home market is experiencing significant growth as consumers seek to enhance convenience and efficiency in their living spaces. Advanced sensors and affordable technologies enable homeowners to connect and control appliances such as heating systems, lighting, air conditioning, computers, TVs, entertainment systems, security devices, and cameras using smartphones and tablets. Artificial intelligence predicts consumer preferences based on historical data. The rise of smart homes is driven by the increasing number of working couples with dual incomes in North America, Europe, and emerging economies in APAC. Governments worldwide are investing in smart city projects, particularly in the Middle East, increasing the demand for home energy management systems and fueling the growth of the global market.

The Home Energy Management Systems (HEMS) market is experiencing significant growth due to increasing concerns over greenhouse gas emissions and the need to reduce energy consumption. This Industry Analysis Report covers trends such as the adoption of hybrid technology, IoT technologies, and machine learning in HEMS. Key players like Iberdrola are leading the way with advanced central controllers, intelligent HVAC controllers, and self-monitoring systems. New construction and multi-family residences are embracing smart home technologies, including programmable communicating thermostats and smart meters. Deployment types include cloud deployment and Wi-Fi, with financial incentives like rebates and tax credits driving adoption. HEMS also supports smart grid development and EV charging. Power consumption data analytics and electricity usage patterns help homeowners reduce energy bills and carbon footprints. Advanced data analytics and artificial intelligence further optimize energy management strategies. Wireless protocols technology ensures seamless integration of various HEMS components. Overall, HEMS is a crucial technology for smart building development and reducing carbon footprints.

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Market Challenges

Home energy management systems (HEMS) offer significant energy savings by allowing homeowners to monitor and control their energy consumption in real-time. However, the high initial investment required to install these systems, which includes sensors, displays, software, and professional installation of smart thermostats, discourages many homeowners from adopting HEMS. The average cost of a smart thermostat ranges from USD250 to USD350, and additional installation fees add to the expense. Furthermore, maintenance costs are also high, increasing the overall cost of ownership. Another challenge is the use of proprietary communication technologies by various smart devices, which necessitates the use of a single platform or hub to ensure seamless integration and automation. This limits consumer choice and requires a significant investment in a single provider or multiple hubs, which may hinder the growth of the global HEMS market. In summary, the high initial and ongoing costs, along with the need for a single proprietary platform or hub, present significant barriers to the adoption of home energy management systems. These challenges may negatively impact the growth of the global HEMS market during the forecast period.The Home Energy Management Systems (HEMS) market is experiencing significant growth due to increasing concerns over greenhouse gas emissions and the need to reduce energy consumption and costs. The market comprises hardware like intelligent HVAC controllers, programmable communicating thermostats, and lighting controls, as well as software solutions and self-monitoring systems. HEMS utilizes hybrid technology, IoT, machine learning, and advanced data analytics, including artificial intelligence. Key players like Iberdrola are driving innovation through smart building development and smart grid integration. New construction and multi-family residences are prime targets for HEMS implementation. Financial incentives such as rebates, tax credits, and carbon footprint reduction are major drivers. HEMS also supports smart home technologies like Wi-Fi, Ethernet, and wireless protocols. The future of HEMS includes integration with electric vehicles (EVs), advanced central controllers, and cloud deployment for energy management strategies.

Insights into how AI is reshaping industries and driving growth- Download a Sample Report

Segment Overview

This home energy management systems market report extensively covers market segmentation by

Component 1.1 Hardware1.2 Software1.3 ServicesProduct 2.1 Lighting controls2.2 Programmable thermostats2.3 Self-monitoring systems2.4 Advanced central controllersGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 Hardware-  The home energy management system market is driven by the growing adoption of advanced hardware components. This hardware includes a hub device that communicates between home events, users, and sometimes utilities or electricity retailers. Additional components, such as smart plugs, light sensors, and temperature sensors, can also be integrated. As communication and sensing technology advances, hardware is becoming a significant market focus. Wired sensor networks, with their increased reliability, longer service lives, and reduced interference, are gaining popularity. The expansion of the hardware segment is expected to boost the home energy management system market, as monitoring and controlling building operations becomes more prevalent. Consequently, the global home energy management systems market is anticipated to grow substantially during the forecast period.

Download complimentary Sample Report to gain insights into AI’s impact on market dynamics, emerging trends, and future opportunities- including forecast (2024-2028) and historic data (2018 – 2022)

Research Analysis

The Home Energy Management Systems (HEMS) market is a rapidly growing sector in the energy industry, focused on optimizing energy consumption and cost savings in residential and commercial applications. HEMS integrates hardware and software solutions, including thermostat systems, intelligent HVAC controllers, and advanced central controllers, to manage and monitor energy usage in real-time. Wireless protocols technology, hybrid systems, and IoT integration are key trends driving market growth. New construction and deployment type are crucial factors influencing the market’s development. Industry Analysis Reports provide insights into market size, growth, trends, and opportunities. HEMS technology encompasses smart homes, electric vehicles (EVs), and lighting controls, with AI, machine learning, and advanced data analytics enhancing system capabilities. Wi-Fi and Ethernet are common communication protocols in HEMS.

Market Research Overview

The Home Energy Management Systems (HEMS) market is a rapidly growing sector in the energy industry, focused on optimizing energy usage and reducing carbon footprints in residential and commercial buildings. HEMS utilizes advanced central controllers, data analytics, artificial intelligence, and machine learning to analyze electricity usage patterns and provide energy management strategies. Cloud deployment enables remote monitoring and control of power consumption, while IoT technologies such as Ethernet, Wi-Fi, and wireless protocols facilitate seamless communication between devices. HEMS can integrate with various systems, including intelligent HVAC controllers, lighting controls, and EV charging stations. Financial incentives like rebates, tax credits, and industry analysis reports drive market growth. New construction and smart building development are major sectors adopting HEMS, while self-monitoring systems and smart home technologies are gaining popularity in multi-family residences and single-family homes. HEMS also plays a crucial role in the smart grid, enabling efficient energy distribution and reducing greenhouse gas emissions. Hybrid technology, including SunVault Storage and smart meters, further enhances the capabilities of HEMS. Overall, HEMS is a vital component of the transition towards sustainable energy solutions and reducing energy bills.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ComponentHardwareSoftwareServicesProductLighting ControlsProgrammable ThermostatsSelf-monitoring SystemsAdvanced Central ControllersGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

View original content to download multimedia:https://www.prnewswire.com/news-releases/the-home-energy-management-systems-market-is-projected-to-grow-by-usd-1-97-billion-from-2024-2028–with-ai-impacting-trends-and-rising-smart-grid-adoption-driving-revenue—technavio-302255543.html

SOURCE Technavio

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