The
market was valued at USD 393.8 million in 2012, which is expected to
reach USD 1,909.4 million by 2019, growing at a CAGR of 25.0% from
2013 to 2019.
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Home Energy Management Systems Market Report With Full TOC at
http://www.transparencymarketresearch.com/home-energy-management-systems.html
Rising
electricity prices across the globe have compelled home-owners to
look for different means by which they can monitor and control their
electricity usage. The primary need of conserving and optimizing
energy utilization is expected to increase the demand for energy
management solutions, driving the HEMS market forward. Utilities and
service providers offering variable pricing schemes are expected to
generate greater interest for energy management products in the minds
of cost-conscious consumers. Since HEMS products support cloud based
services and other Internet related services, increased Internet
connectivity and penetration across the globe are expected to have
positive impact on the growth of the HEMS market.
In
2012, Wi-Fi was the major technology employed in home energy
managements systems, accounting for 25.1% of the total market.
However, over the forecasted period from 2013 to 2019, ZigBee is
expected to show the fastest growth and surpass Wi-Fi to become the
major technology. This is majorly attributed to its growing demand in
established markets like U.S and Europe on the account of its
superior properties like scalability, more interference tolerant and
compatibility with most of HAN (Home Area Network) devices. In 2012,
control devices including thermostats, home lighting systems, power
strips, home automation systems was the largest functionality
segment, accounting for % of the global market. However, owing to
increasing use of technologies like HAN, sensing and others offering
connectivity for energy management, enabling technologies segment is
expected to grow at the fastest growth rate over the forecasted
period from 2013 to 2019, growing at a CAGR of 26.3%.
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North
America was the largest HEMS market in 2012, followed by Europe and
Asia Pacific. Europe is expected to be the fastest growing HEMS
market over the forecasted period from 2013 to 2019, growing at a
CAGR of 26.2%. This swift growth is attributed to complete roll-out
of smart meters and government regulations encouraging optimum
management of electricity consumption. Owing to highly subsidized
energy in Asia Pacific and RoW countries, the consumers in these
regions are little encouraged to invest in an expensive technology,
offering uncertain benefits. Therefore, the growth in these regions
have been little sluggish. Some of the major industry participants
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) among
others.
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all Press Releases:
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The
report studies the global HEMS market, and provides estimates in
terms of revenue (USD Million) from 2013 to 2019. Market estimates on
the basis of technology and functionality; have also been provided
for each region. The market has been segmented as follows:
Browse
all Article :
http://www.transparencymarketresearch.com/articles.htm
HEMS
Market, by Integration type
Control
devices
User
Interface
Enabling
technologies
HEMS
Market, by Technology
Wi-Fi
ZigBee
HomePlug
Z-Wave
Others
(Insteon, Wavenis, Enocean and Ethernet)
HEMS
Market, by Geography:
North
America
Europe
Asia
Pacific
Rest
of the World (Latin America, Middle East and Africa
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Semiconductor & Electronics Market Reports @
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