HEMS (Home Energy Management Systems Market) Is Expected to Grow Rapidly Owing to Urbanization Trends and Technological Advancements in Developing Regions Till 2020: Hexa Research
FELTON, CA--(Marketwired - Nov 30, 2015) - Increasing usage of home energy and use of renewable energy has made the manufacturers realize the requirement for optimum energy management systems. The main need to conserve and optimize energy utilization is estimated to boost the home energy management systems market. Home energy management systems are devices which enable users to monitor and manage the electricity consumption. Increasing electricity prices and thus rises in need for energy management is anticipated to drive the market over the forecast period. Favorable policies by manufactures such as variable pricing schemes in order to make customer aware about the efficient uses of HEMS is estimated to provide positive avenues to the market growth over the next five years.
Strict U.S. government policies concerning energy efficiency and conservation are also estimated to fuel the HEMS market over the forecasted period. Home appliances coordination proposal for Distributed Energy Resources (DER) and energy management with different policies are major HEMS market drivers. High cost, complexity I installing the device and lack of awareness are estimated to hinder the market growth over the next five years. Increasing demand for Energy-based smart phones is likely to provide positive avenues to the market growth.
Browse full research report with TOC on " Home Energy Management Systems (HEMS) Market Analysis, By Technology (Wi-Fi, ZigBee, Wireless M-Bus, HomePlug, Z-Wave), By Component (Enabling Technologies, User Interface, Control Devices) And Segment Forecasts from 2012 To 2020 " at http://www.hexaresearch.com/research-report/home-energy-management-systems/
On the basis of technology the HEMS market is categorized into Zigbee, HomePlug, Wi-Fi, Wireless M-Bus and Z-Wave. Wi-Fi technology reduces wiring cost and we can use the devices at any place within specified Wi-Fi signal range. Since this technology has many benefits, the usage of Wi-Fi is increasing globally due this Wi-Fi market is expected to have favourable market growth rate in the coming years.
Based on component, the HEMS market is categorized into user interface, control devices and enabling technologies. Enabling technologies for HEMS include sensors, communications and data acquisition devices. User interfaces offer energy feedback to customers, and essential information with partial processing to people such as real-time data on energy utilization. Control devices enable consumer or the utility to manage energy use, with unreliable degree of automation. These include smart plugs, smart power strips, thermostats, lighting control with remotes and motion sensors. HEMS solutions are estimated to become a significant element of solutions for the prospect of smart energy model.
North America and Europe market is expected to grow at a significant rate owing to technology advancement. The HEMS market in Europe is estimated to grow significantly due to smart meter mandates by utilities and consumer retention motivations. Asia-Pacific is expected to grow significantly owing to growing infrastructure, urbanization trends and technological advancements in developing countries such as India and China. Increase usage of consumer electronic goods is the major factor which is expected to drive the market growth in Asia Pacific region.
Browse related reports by Hexa Research:
Predictive Analysis Market - http://www.hexaresearch.com/research-report/predictive-analysis-industry/
LiDAR technology Market - http://www.hexaresearch.com/research-report/lidar-technology-industry/
Intelligent Building Automation Technologies Market - http://www.hexaresearch.com/research-report/intelligent-building-automation-technologies-industry/
Smart Machines Market - http://www.hexaresearch.com/research-report/smart-machines-industry/
About Hexa Research:
Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.
(November 30, 2015 - 9:15 AM EST)
News by QuoteMedia