Global Home
Energy Management Systems Market: Snapshot
Home energy management systems, or HEMS, are enabling devices for
home owners that act as intermediary platforms for a user to manage
and monitor their overall consumption of energy on a regular basis.
HEMS are therefore useful when it comes to conserving energy and
minimizing energy losses over an average day. The global home energy
management systems market is currently developing at a very swift
pace in order to meet with the growing energy crunch faced by the
world. The depleting stockpiles of fossil fuels are making it more
and more important for all sectors to buckle up and start taking
serious efforts to conserve energy.
The global home energy management systems market is expected to
expand at a phenomenal CAGR of 25.0% within a forecast period from
2013 to 2019. The market is expected to reach US$1.90 bn by the end
of 2019, and was calculated at US$393.8 mn at the end of 2012.
North America
Dominates HEMS Implementation Rate
The global home energy management systems market can be segmented on
the basis of regions, into North America, Asia Pacific, Europe, Latin
America, and the Middle East and Africa. The market has consistently
seen a higher demand for solutions and technologies from developed
economies, thanks to their advanced infrastructure in the residential
sector, coupled with a higher level of awareness regarding energy
conservation, a higher overall energy consumption factors, and the
presence of leading players in the market from an earlier span of
time.
North America was the leading region in the global home energy
management systems market for 2012, primarily due to the large scale
implementation of wireless technologies. These include the newer
ZigBee, as well as conventional Wi-Fi and home area network
technologies. In Europe, the HEMS market is expected to expand at the
leading rate from a global perspective. Several key nations are
planning to fully implement smart meters before the end of 2019 and
governments are especially eased up on the regulatory framework
dealing with the entrance of newer players into this market.
From the perspective of technologies, the global home energy
management systems market can be segmented into the more prominent
segments of Wi-Fi, ZigBee, HomePlug, and Z-Wave, along with a number
of other minority shareholders. Over the coming years, ZigBee is
expected to show the leading rate of growth in terms of technological
advancements and rate of implementation. Over the coming years,
ZigBee is expected to surpass Wi-Fi networking in terms of
connectivity for HEMS. ZigBee technologies are better in terms of
scalability, are far more tolerant to interference than Wi-Fi
technologies, and are easier to make compatible with HAN devices.
On the basis of functionality, the global home energy management
systems market can be segmented into user interface, enabling
technologies, and control devices. Currently, control devices are
leading the market in terms of usage rate and overall demand.
However, enabling technologies are expected to gain a higher growth
rate over the coming years due to the advantages they show over the
other functional segments.
The leading players in the global home energy management systems
market include Panasonic Corporation (Japan), Honeywell
International, Inc., (U.S.), General Electric Company (U.S.), Intel
Corporation (U.S.), Cisco Systems, Inc. (U.S.), and Sharp Corporation
(Japan).
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