Home energy management systems (HEMS) products are fostering an era of sustained household energy efficiency during a time when many countries are improving their electric grid infrastructure. Consumers, however, have been generally reluctant to purchase HEMS products to monitor and reduce their energy consumption and lower their monthly electric costs. Moreover, many electric utilities are less than eager to develop energy programs and incentives for customers to use HEMS products. HEMS products manufacturers, meanwhile, have been caught in the middle of fluctuating consumer demand and the recent volatility among competitive technology suppliers. The HEMS products development landscape, SBI Energy believes, will likely flourish through 2020 as many niche suppliers of products in communications infrastructure, smart metering, and in-home energy interfaces begin to establish a stronger presence in the marketplace.
New York, NY - 19 October 2011 - With a compound annual growth rate of nearly 13% since 2006, the global market for Home Energy Management Systems (HEMS) products will reach $85 billion by 2015, according to a new report by market research publisher SBI Energy. The landscape for HEMS product development will continue to flourish through 2020.
HEMS products help consumers conserve their energy use and save money on their electric bills, as well as enable consumers worldwide to control their energy consumption and more effectively manage their spending on electricity used for household appliances.
"Utilities gain from the deployment of HEMS by improving their overall response to electricity demand on the grid," said SBI Energy analyst Darren Bosik, author of the report.
SBI Energy estimates total global spending on all HEMS products is currently $54 billion. Much of the spending is associated with integrated communications products, a sector that will benefit from more than $16 billion in sales in 2011, growing at a five-year CAGR of 13% to reach $29.2 billion in 2015.
"Many niche suppliers of products in communications infrastructure, smart metering, and in-home energy interfaces will establish a solid presence in the marketplace by 2015," said Bosik.
The report, Global Home Energy Management Systems Products Market, provides complete analysis of HEMS products, with data segmented by categories of integrated communications products; control and protection products; monitoring and recording products; improved interfaces and decision support; and in-home smart devices. The report also investigates the economic factors affecting the growth of the HEMS products market and trends that are driving industry development, marketing, and product innovation through 2020.
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