Global Home Energy Management Systems Market Share, Demand And Growth Analysis, Forecast 2017 To 2022 – by Credence Research
According to a new market report published by Credence
Research, Inc., “Home Energy Management Systems (HEMS) Market (Wi-Fi,
ZigBee, Z-Wave, and Other Technologies (Insteon, X10, Wireless M-Bus, etc) -
Growth, Share, Opportunities, Competitive Analysis, and Forecast 2015 - 2022”,
the home energy management systems (HEMS) market is expected to expand at
a CAGR of 22.3% from 2015 to 2022, reaching US$ 3,241.9 Mn by 2022.
Browse the full Home Energy Management
Systems (HEMS) (Wi-Fi, ZigBee, Z-Wave, and Other Technologies (Insteon, X10,
Wireless M-Bus, etc) Market - Growth, Share, Opportunities, Competitive
Analysis, and Forecast 2015 – 2022 report at http://www.credenceresearch.com/report/home-energy-management-systems-hems-market
Product and Market Insights
Home energy management systems (HEMS)
are devices that allow home owners to control, monitor, and manage their
electricity consumption optimally. The global home energy management systems
(HEMS) market is currently in the budding stage of development. The industry
has been determined to develop a universal platform capable of solving issues
concerned with the interoperability, interface, and installation.
Competitive Insights
The global home energy management
systems (HEMS) market is concentrated and technology driven. The top four home
energy management system manufacturers account for over 45 percent of the
global market revenue. Panasonic Corporation (Japan), Honeywell International,
Inc. (the U.S.), Nest Labs, Inc. (the U.S.), General Electric Company (the
U.S.), and Vivint, Inc. (the U.S.) are identified as some of the leading
players in the home energy management systems (HEMS) market. Other players
including Alarm.com (the U.S.), Ecobee (Canada), EnergyHub, Inc. (the U.S.),
Comcast Cable (the U.S.), EcoFactor (U.S.), and Cisco Systems, Inc. (the U.S.)
have been marked as some of the promising and emerging players in the global
home energy management systems industry. The market competition is
characterized by the presence of both core solution suppliers and application
sub-system providers. Their approach has been to offer energy management
solutions as a part of home automation products and services. The new entrants
in the home energy management systems market need substantial capital
investment. Furthermore, to keep pace with the technological advancements, they
are required to dedicate heavy budget for research and development activities.
On the contrary, favorable government regulations promoting optimum electricity
consumption is expected to have positive impact on the new players entering the
market. As such, the market poses moderate threat to new entrants.
Key Trends
·
Growing interest in residential
demand response and roll-out of smart utility meters
·
Increasing efforts by manufacturers
to develop multi-featured home energy management systems capable of connecting
with multiple control devices and being managed from a remote location
·
Growing desire to manage electricity
consumption and curb electricity bills
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Global Home Energy Management Systems Market Share, Demand And Growth Analysis, Forecast 2017 To 2022 – by Credence Research
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