LONDON--(BUSINESS WIRE)--Technavio has published a new report on the global home energy management systems market, which is expected to grow at a CAGR of nearly 27% from 2015-2019.
About the Report
The new market research report by Technavio highlights the need for energy management, which is considered the most effective method to reduce the use of energy in the residential sector. The various processes involved include recording, normalizing, analyzing, targeting, monitoring, reporting, and controlling.
“Home energy management systems products also facilitate the creation of targets for reducing energy consumption and monitor the consumption by checking if it matches the set target and report the outcome to the consumer,” says Faisal Ghaus, Vice President of Technavio.
The latest report by Technavio also emphasizes the use of distributed renewable power generation, which is helping households implement HEMS and will further cause the demand for HEMS to increase during the forecast period.
“Home energy management systems help consumers get updates about the fluctuating electricity prices and can accordingly use less energy during peak hours,” explains Ghaus.
Market Scope and Calculation of Market Size
The new Technavio report covers the present scenario and growth prospects of the global home energy management systems market from 2015-2019. The report presents the vendor landscape and a corresponding detailed analysis of the five major vendors in the global HEMS market.
Key Information Covered in the Report:
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Key Vendors:
- Cisco Systems
- GE Energy Management
- Honeywell International
- Panasonic
- Schneider Electric
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Market Growth Drivers:
- Need for energy conservation
- For a full detailed list, view our report.
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Market Challenges:
- High initial costs
- For a full detailed list, view our report.
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Market Trends:
- Rise in distributed generation
- For a full detailed list, view our report.
Technavio currently has more than 3000 market research reports on a huge range of topics, including 200+ reports on the energy management systems market:
- Building Energy Management System Market in APAC 2015-2019
- Global Energy Management System Market 2015-2019
If you are interested in more information, please contact our media team at media@technavio.com.
