DUBLIN, March 24, 2021 / PRNewswire / – Added Report “Home Energy Management Systems (HEMS) Market Size, Market Share, Demand Analysis, Regional Forecast, Growth Trend, Key Players, Competitive Strategies and Pre- assessments, 2020 to 2028 ” ResearchAndMarkets.com’s offering.
The home energy management systems (HEMS) market was valued US $ 2,408.8 Mn in 2019. The market is expected to grow at a CAGR of 14.6% in the projected period 2020 – 2028.
An increase in the cost of electricity necessitating optimal energy management has been identified as the key market-leading feature of home energy management systems.
However, a lack of awareness of the benefits these systems offer coupled with the high upfront cost has hampered market growth. However, to address these challenges effectively, suppliers and solution providers have begun offering variable pricing schemes to encourage consumers to make the best use of electricity at times outside of minimum times. and reduce spending at precious times.
In 2019, the control appliances sector which included home automation systems, home lighting control systems, thermostats, smart plugs, and smart appliances among others added to the control systems market global household energy (HEMS).
This trend is expected to continue in the projected period 2020 – 2028, with that sector holding its key position. While the control device department is expected to continue to gain the upper hand, the user interface device division is expected to cover indoor display units and dashboard / web ports. showing the greatest growth over the period expected by 2020 – 2028.
The sector (user interface devices) is expected to see steep growth as a result of consumers ’growing desire to monitor and analyze home power consumption with appliances or products. In addition, the declining cost of displays and thus display results is expected to have a positive impact on market movement in the projected period 2020 – 2028.
In 2019, Wi-Fi and ZigBee were the key communication technologies used in home energy management systems (HEMS). Together, these communications technologies accounted for more than 45 percent of the market value of home energy management systems (HEMS) in 2019. This trend is expected to continue in the coming years from the integrated technology using Wi- Fi as the backbone and ZigBee as an interface to several endpoints is ready to see them grow. T.
ZigBee technology is expected to see the biggest adoption in the preview period. This is mainly due to the growing demand from emerging markets and regulated demand from developed economies such as North America and Europe. ZigBee technology is easy to use and can be easily integrated with many home area network devices.
In addition, the technology is scalable and very tolerable taking in from other technologies such as Wi-Fi and Bluetooth. Other communications technologies including Z-Wave and Insteon are also expected to show strong growth in the projected period 2020 – 2028.
In 2019, North America the largest home energy systems (HEMS) market followed Europe. The combined sectors accounted for more than 60% of global market revenue in 2019. This leadership can be largely attributed to technological advances and the adoption of wireless technologies including ZigBee , Z-Wave, and Wi-Fi for energy management. In addition, the growing demand for HAN (Home Area Network) devices has confirmed their advanced position.
The US is the largest single HEMS market in the world. U.S. leadership can be attributed to the large base of energy management solutions and service providers. Over the expected period, Asia Pacific The greatest growth is expected to be seen, largely due to the growing desire among consumers to control and regulate residential electricity consumption.
Key topics covered:
1. Introduction
2. Executive Minutes
2.1. Snapshot Industry Home Energy Management Systems (HEMS) Market
3. Global Home Energy Management Systems (HEMS) Market Analysis
3.1. Home Energy Management Systems (HEMS) Market Outlook
3.2. Market bias views
3.3. Market dynamics
3.4. See-Saw Analysis
3.5. Attractive Investment Recommendation
3.6. Market positioning of major manufacturers of Home Energy Management Systems (HEMS)
4. Global Home Energy Management Systems (HEMS) Market, by Product Type, 2018 – 2028, (US $ Mn)
4.2. Control Devices (Light Control Systems, Thermostats, Smart Plugs, etc)
4.3. User interface tools (Home energy display, webcard, etc.)
5. Global Home Energy Management Systems (HEMS) Market, With Technology, 2018 – 2028, (US $ Mn)
5.2. Wi-Fi
5.3. ZigBee
5.4. Z-Wave
5.5. Others (Wireless M-Bus, Insteon, X10, etc.)
6. North American Home Energy Management Systems (HEMS) Market, 2018 – 2028 (US $ Mn)
6.1. Overview
6.2. North American Home Energy Management Systems (HEMS) Market, by Product Type, 2018 – 2028 (US $ Mn)
6.2.2. Control Devices (Light Control Systems, Thermostats, Smart Plugs)
6.2.3. User interface tools (Home energy display, webcard, etc.)
6.3. North American Home Energy Management Systems (HEMS) Market, With Technology, 2018 – 2028 (US $ Mn)
6.3.3. Wi-Fi
6.3.4. ZigBee
6.3.5. Z-Wave
6.3.6. Others (Wireless M-Bus, Insteon, X10, etc)
6.4. North American Home Energy Management Systems (HEMS) Market, By Country 2018 – 2028 (US $ Mn)
6.4.1. US
6.4.2. The rest of North America
7. European Home Energy Management Systems Market (HEMS), 2018 – 2028 (US $ Mn)
8. Asia Pacific Home Energy Management Systems (HEMS) Market, 2018 – 2028 (US $ Mn)
9. Global Home Energy Management Systems (HEMS) Market, 2018 – 2028 (US $ Mn)
10. Company Profiles
10.1. Corporal Panasonic
10.2. Honeywell International, Inc.
10.3. Nest Labs, Inc.
10.4. General Electric Company
10.5. Vivint, Inc.
10.6. Alarm.com
10.7. Ecobee
10.8. EnergyHub, Inc.
10.9. Comcast Cable
10.10. EcoFactor, Inc.
10.11. Cisco Systems, Inc.
For more information about this report, visit https://www.researchandmarkets.com/r/xtrqn7
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