San Francisco, 20 February 2019: The Report 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
The global home energy management systems (HEMS) market is expected to exceed USD 2 billion by 2020, according to
a new study by Grand View Research, Inc. 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.
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.
Access Research Report of Home Energy Management Systems
Market @ www.grandviewresearch.com/industry-analysis/smart-home-energy-management
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.
Browse more reports of this category by Grand View
Research at: www.grandviewresearch.com/industry/emerging-and-next-generation-technologies
Grand View Research has segmented the
global HEMS market on the basis of technology, component and region:
HEMS Technology Outlook (Revenue, USD
Million, 2012 - 2020)
·
Wi-Fi
·
ZigBee
·
Wireless M-Bus
·
HomePlug
·
Z-Wave
·
Others
HEMS Component Outlook (Revenue, USD
Million, 2012 - 2020)
·
Enabling Technologies
·
User Interface
·
Control Devices
HEMS Regional Outlook (Revenue, USD
Million, 2012 - 2020)
·
North America
·
Europe
·
Asia Pacific
·
RoW
Access Press Release of
Home Energy Management Systems Market@ www.grandviewresearch.com/press-release/global-smart-home-energy-management
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range of
industries, from technology to chemicals, materials and healthcare.
For More Information: www.grandviewresearch.com
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