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.
View
summary of this report @ http://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.
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this category @ http://www.grandviewresearch.com/industry/emerging-and-next-generation-technologies
For the purpose of this study, 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
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, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
Contact:
Sherry
James
Corporate
Sales Specialist, U.S.A.
Grand
View Research, Inc.
United
States
Phone: 1-415-349-0058
Toll
Free: 1-888-202-9519
Email: sales@grandviewresearch.com
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