Home Energy Management Systems Market to Surpass US$4 Billion in the US by 2017
A new report by GTM research maps out the key players and examines the market drivers in the home energy management systems sector.
Valued at $1.5 billion annually, yet with only 1.5 percent to 2.5 percent penetration in most states, the home energy management systems (HEMS) market is poised for significant growth. Industry observers have been making similar statements since 2008, but recent strategic partnerships in the utility solutions space and the connected-home market will increase both adoption rates and total market value. According to the latest report by GTM Research, Home Energy Management Systems: Vendors, Technologies, and Opportunities, 2013-2017, the U.S. HEMS market is forecasted to be worth over $4 billion by 2017.
Drawing on months of research and 32 company interviews, the report provides a comprehensive overview of the home energy management systems market, including the technologies brought to bear, profiles of the key vendors, and driving forces in the market, as well as case studies.
“In the end, both residential consumers and vendors can benefit from HEMS,” says report author Kamil Bojancyzk. “Early HEMS devices may only be represented by technologies such as smart thermostats, but these devices nevertheless represent a gateway to further adoption of home automation. Additionally, vendors have shifted toward a subscription-based recurring revenue model, helping to mitigate financial uncertainty.”
Source:HiddenWires. Read more here.