Global Home Energy Management Systems Market to Expand at 25% CAGR 2013-2019, Propelled by Rapid Growth in Europe and North America
Transparency Market Research, in a report titled “Home Energy Management Systems Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019,” states that the global home energy management systems market is likely to rise from a value of US$393.8 mn in 2013 to US$1.9 bn by 2019. If these values hold true, the home energy management systems market is projected to register an impressive 25% CAGR therein.
Browse the full Home Energy Management Systems Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019 report at https://www.transparencymarketresearch.com/home-energy-management-systems.html
Home energy management systems allow home owners to monitor and regulate the consumption of electricity in an effective manner. The main purpose of home energy management systems is to overcome the several challenges that are associated with installations and to optimally manage the various sources of energy in the consumers’ homes. Solution providers as well as manufacturers have been offering different pricing schemes so as to increase the level of awareness among consumers regarding the cost efficiency of home energy management systems.
The home energy management systems market, according to the report, is fueled by the variable pricing schemes offered for electric distribution, the rising need for home energy management, and the growth in connectivity solutions and smartphone applications. On the flip side, the lack of awareness, the high cost and complexity of installation, and the perceived health risks are likely to restrain the home energy management systems market.
By functionality, the home energy management systems market is categorized into user interface, control devices, and enabling technologies. At present, control devices such as thermostats and home lighting and automation dominate the overall market, with enabling technologies anticipated to form the fastest growing technology segment in the next three years.
On the basis of technology, the home energy management systems market is segmented into Z-Wave, ZigBee, Wi-Fi, HomePlug, and others such as Insteon, Wavenis, EnOcean, and Ethernet. Emerging as the most rapidly expanding technology segment from 2013 to 2019, ZigBee is driven by the rising demand in Europe and North America. Being more compatible, scalable, and interference-tolerant than both Wi-Fi and HAN devices, ZigBee is anticipated to surpass Wi-Fi as the leading technology by 2019.
The global home energy management systems market is geographically divided into Europe, Asia Pacific, North America, and Rest of the World. North America emerged as the largest regional segment of the home energy management systems market in 2012 thanks to the rising deployment of wireless technologies such as Wi-Fi, ZigBee, and home area network (HAN). Europe is also a major market for home energy management systems and the market in this region was valued at US$155.7 mn in 2012. Expanding at an incredible CAGR of 26.20% from 2013 to 2019, Europe is projected to be the fastest growing market during the forecast period.
Some of the most active companies in the home energy management systems market are Panasonic Corporation, Schneider Electric SA, AlertMe.Com Ltd., Cisco Systems Inc., General Electric Company, Sharp Corporation, Freescale Semiconductor Inc., Vivint Inc., Honeywell International, Inc., and Intel Corporation. These players have been profiled in the research report based on attributes such as company overview, business strategies, financial standing, and recent developments.
Home Energy Management System (HEMS) Market, by Functionality (Revenue)
- Control devices
- User Interface
- Enabling technologies
Home Energy Management System (HEMS) Market, by Technology (Revenue)
- Others (Insteon, Wavenis, Enocean, Ethernet, and so on)
Home Energy Management System (HEMS) Market, by Geography (Revenue):
- North America
- Asia Pacific
- Rest of the World (Latin America, Middle East and Africa)
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