Energy Management Systems Market - Industry Analysis, Share, Forecast 2024

Growing number of players are capitalizing on avenues emerging due to the integration of home energy management systems (HEMS) with smart grid technologies. Several companies in the global home energy management systems market are tapping into substantial revenue streams to bolster their positions, finds Transparency Market Research (TMR). Developed markets also offer incumbent and new entrants vast lucrative avenues, and are supported by favorable carbon tax policies. A large number of prominent companies in the global home energy management systems market are domiciled in the U.S.

Key players operating in the global home energy management systems market include Panasonic Corporation, General Electric Company, Intel Corporation, Cisco Systems, Inc., and Honeywell International, Inc.

The global home energy management systems market is expected to register a promising CAGR of 25.0% during 2013–2019. Expanding at this growth rate, the global market will reach a revenue worth of US$1.91 Bn by the end of 2019.

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Among the various technologies, ZigBee over the past few years has emerged as the most attractive segment in the home energy management systems market. This is attributed to the vast rate of its deployment in HEMS, and substantial advancements relating to quality and scalability features in recent years.

Among the various key regions, North America was expected to hold the sway in the global home energy management systems market over the assessment period. The growth in the regional market was driven by the extensive uptake of technologies that reduce energy usage in the residential sector. The demand for home energy management systems was substantial in countries such as the U.S. and Canada.