The global Home Energy Management Systems (HEMS) market is expected to exceed USD 2 billion by 2020. Owing to increasing energy cost coupled with growing environmental concerns, energy management has emerged as a significant priority, which is expected to fuel the HEMS market. The need to conserve and optimize energy utilization is expected to serve as a key market driver. Increased connectivity and widespread adoption of smartphones is also expected to favorably impact the market growth. Energy management products demand has gained momentum over the last few years owing to use of variable pricing schemes offered by service providers. Favorable regulatory initiatives in the U.S. pertaining to energy conservation are expected to propel regional HEMS market growth.
Browse full research report with TOC on “Home Energy Management Systems (HEMS) Market Analysis By Technology (Wi-Fi, ZigBee, Wireless M-Bus, HomePlug, Z-Wave), By Component (Enabling Technologies, User Interface, Control Devices) And Segment Forecasts To 2020” at:
High installation cost coupled with system complexity is expected to pose a challenge to market growth over the forecast period. Lack of consumer awareness regarding home energy management systems and the benefits they offer may also hinder the HEMS market. Technological proliferation along with decreased sensor and display costs, improved device-level information processing capability, and roll-out of smart utility meters provide avenues for market growth.
Further key findings from the study suggest:
- Wi-Fi emerged as the dominant segment in 2013; it is expected to continue accounting for considerable market share over the forecast period. ZigBee, a standard for wireless networks, is expected to be a high growth segment over the forecast period. This can be attributed to its ability to support needs of various utilities, government groups and product manufacturers.
- The HEMS market is dominated by control devices and systems; these include thermostats, whole home lighting systems and home automation systems. Enabling technologies are expected to witness high growth over the next six years due to popularity of technologies such as home area network, ZigBee and sensing.
- On account of favorable government initiatives and growing need to address issues related to aging infrastructure, North America is expected to emerge as the most dominant regional market over the forecast period. Smart meter mandates by utilities is primarily expected to drive the HEMS market in Europe.
- Key market participants include Intel Corporation, Panasonic Corporation, Cisco Systems Inc, General Electric Co. and Honeywell International. Innovations and extensive product development are expected to be the key growth strategies over the forecast period.
HEMS Technology Outlook (Revenue, USD Million, 2012 – 2020)
- Wireless M-Bus
See More Reports of This Category by Radiant Insights:
HEMS Component Outlook (Revenue, USD Million, 2012 – 2020)
- Enabling Technologies
- User Interface
- Control Devices
HEMS Regional Outlook (Revenue, USD Million, 2012 – 2020)
- North America
- Asia Pacific
Related Reports By Radiant Insights:
- Cleaning Robots Market:
- Language Translation Software Market:
About Radiant Insights
Radiant Insights is a platform for companies looking to meet their market research and business intelligence requirements. We assist and facilitate organizations and individuals procure market research reports, helping them in the decision making process. We have a comprehensive collection of reports, covering over 40 key industries and a host of micro markets. In addition to over extensive database of reports, our experienced research coordinators also offer a host of ancillary services such as, research partnerships/ tie-ups and customized research solutions.
For more information, visit: http://www.radiantinsights.com/
Company Name: Radiant Insights, Inc.
Contact Person: Michelle Thoras, Corporate Sales Specialist – USA
Email: Send Email
Phone: (415) 349-0054, Toll Free: 1-888-202-9519
Address:28 2nd Street, Suite 3036
City: San Francisco
Country: United States