Dublin, April 02, 2019 (GLOBE NEWSWIRE) -- The "Global Home Energy Management Systems (HEMS) Market" report has been added to ResearchAndMarkets.com's offering.
The research estimates the HEMS market will reach $7,656.1 million and grow at a CAGR of 23.3% until 2025.
The report analyzes more than 75 companies that fall into the definition of HEMS and narrowed this to 24 companies based on their growth indicators and recent innovations. The publisher has evaluated and positioned these 24 companies based on 2 major indices, Growth and Innovation, and each index has 5 criteria. The companies are positioned on a radar format under 4 sections: Visionaries, Disruptors, Agitators, and Contenders.
Home energy management systems (HEMS) is a technology platform that monitors, manages, and controls home functions such as HVAC, lighting, solar PV, and other appliances in a residential building. The HEMS market is expected to grow at an accelerated rate for the next 7 years. The concept of HEMS has evolved over the last few years, where the focus has changed from being a simple HEMS deployed by utilities to a valuable component that is now part of smart homes.
The driving factors of HEMS are quite similar to the BEMS market, but some of the key driving factors identified are unique to HEMS include the increasing trend of electricity prices, the lack of commitment from utilities, the increasing demand for distributed energy generation, and the increasing know-how about HEMS among customers.
The technologies that take the home and building technologies industry to the next phase of evolution - such as artificial intelligence and the explosion of the Internet of Things (IoT)-enabled devices, data analytics, edge analytics, cloud solutions, and business model innovation - have had a positive impact on the HEMS market as well. This market is swarmed by start-ups and emerging participants and the influence of incumbents has lessened. Some of these start-ups are changing the market dynamics by adopting cutting-edge technologies in their products.
Key Issues Addressed
Key Topics Covered:
1. Industry Overview
2. The Global HEMS Market
3. C2A - Market Participant Profiles
4. The Last Word
For more information about this report visit https://www.researchandmarkets.com/research/k376h6/global_home?w=12
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