Increasing electricity expense resulting in need for optimum energy management is identified as the major factor driving the home energy management systems market. However, lack of awareness regarding the benefits offered by these systems coupled with the high upfront cost has somewhat inhibited the market growth. However, to address these challenges effectively, suppliers and solution providers have started offering variable pricing schemes to encourage consumers to make optimum use of the electricity during off-peak hours and reduce consumption during peak hours. These factors are expected to contribute towards a compounded annual growth rate (CAGR) of 22.3% during the forecast period 2015 – 2022. The home energy management systems (HEMS) market is expected to reach US$ 3,241.9 Mn by 2022.
1.1 Market Scope and Segmentation
This report analyzes the global home energy management systems (HEMS) market in terms of product type, technology, and geographical distribution. On the basis of technology, the market is segmented into Wi-Fi, ZigBee, Z-Wave, and other technologies (Insteon, X10, Wireless M-Bus, etc.). Similarly, on the basis of product type, the home energy management systems market is further classified as control devices (home automation systems, home lighting control systems, thermostats, smart plugs, smart appliances, etc.) and display/user interface devices. The geographical distribution of the global home energy management systems (HEMS) market considered in this study encompasses regional markets such as North America, Europe, Asia Pacific, Middle East and Africa and Rest of the World.
1.2 Report Description
Purpose of the Report
The purpose of this strategic research study titled “Global Home Energy Management Systems (HEMS) Market - Growth, Share, Opportunities, and Competitive Analysis, 2015 – 2022” is to offer industry investors, company executives, and industry participants with in-depth insights to enable them make informed strategic decisions related to the opportunities in the global home energy management systems (HEMS) industry.
Target Audience
- Industry Investors
- Home Energy Management System Manufacturers
- Interface and Software Providers
- End-users
USP and Key Offerings
The report titled “Global Home Energy Management Systems (HEMS) Market- Growth, Share, Opportunities, and Competitive Analysis, 2015 – 2022” offers strategic insights into the global home energy management systems (HEMS) market along with the market size and estimates for the duration 2013 to 2022. The said research study covers in-depth analysis of multiple market segments based on product type, technology, and cross-sectional study across different geographies. In order to help strategic decision makers, the report also includes competitive profiling of the leading home energy management system (HEMS) manufacturers, their SCOT (Strength, Challenges, Opportunities, and Weaknesses) analysis, market positioning, and key developments.
Other in-depth analysis provided in the report includes:
- Current and future market trends to justify the forthcoming attractive markets within the home energy management systems (HEMS) market
- Market fuelers, market impediments, and their impact on the market growth
- In-depth competitive environment analysis
- Value Chain Analysis
- Trailing 2-Year market size data (2013 – 2014)
- SRC (Segment-Region-Country) Analysis
Overall, the research study provides a holistic view of the global home energy management systems (HEMS) market, offering market size and estimates for the period from 2015 to 2022, keeping in mind the above mentioned factors.
