DALLAS, TX--(Marketwire - August 3, 2010) - The emerging market for energy management services, built on remote access and control via broadband, is creating new opportunities outside the utility industry for manufacturers and service providers looking to leverage consumer interest in energy savings, according to international research firm Parks Associates.
The firm's report Residential Energy Management: Forecasts for the Deployment of AMI and the Adoption of Energy-saving Products and Services finds over 80% of U.S. consumers are interested in reducing expenditures on energy consumption and willing to pay for cost-saving solutions. Cost-saving products and services that generate consumer interest include programmable thermostats, energy monitors and systems enhanced with energy-management capabilities, smart appliances, and energy-efficient CE systems.
However, the amount consumers are willing to spend does not cover the costs of required systems, creating a need for innovative business models that will enable a new energy management service industry.
"Utility-based home area networks (HANs) are only one of several options for these solutions and services to enter the consumer market," said Bill Ablondi, director, home systems research, Parks Associates. "By 2014, iREMs will outnumber utility-based HANs. By 2014, the vast majority of the nine million U.S. households with an energy management system will have an iREM. Engaging consumers is critical to success in this market. Business strategies must be developed that comprehend the magnitude of consumer education and support required for offerings in this arena."
Forecasts for the Deployment of AMI and the Adoption of Energy-saving Products and Services provides detailed forecasts for REM solutions. For more information, visit http://www.parksassociates.com or contact 972-490-1113, sales@parksassociates.com.
Parks Associates is hosting Smart Energy Summit: Engaging the Consumer on January 25-27, 2011, with keynotes from George Arnold, National Coordinator for Smart Grid Interoperability, National Institute of Standards and Technology, U.S. Department of Commerce, and Andres Carvallo, EVP, Chief Strategy Officer, Grid Net. This event is the premier conference studying the market for residential energy management and smart grid technologies. www.smartenergysummit2011.com
About Parks Associates
Parks Associates is an internationally recognized market research and consulting company specializing in emerging consumer technology products and services. Founded in 1986, Parks Associates creates research capital for companies ranging from Fortune 500 to small start-ups through market reports, primary studies, consumer research, custom research, workshops, executive conferences, and annual service subscriptions.
The company's expertise includes new media, digital entertainment and gaming, home networks, Internet and television services, digital health, mobile applications and services, consumer electronics, energy management, and home control systems and security.
Each year, Parks Associates hosts executive thought leadership conferences CONNECTIONS™, with support from the Consumer Electronics Association (CEA)®, and CONNECTIONS™ Europe. In addition, Parks Associates produces the online publication Industry Insights in conjunction with the CONNECTIONS™ Conference series.
http://www.parksassociates.com | http://www.connectionsconference.com | http://www.connectionseurope.com | http://www.connectionsindustryinsights.com
Contact Information:
Mindi Sue Sternblitz-Rubenstein
Parks Associates
972-490-1113
mindi.sue@parksassociates.com