DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/cfnf95/global_home) has announced the addition of the "Global Home Energy Management System (HEMS) Market 2014-2018" report to their offering.
The Global HEMS market to grow at a CAGR of 26.7% over the period 2013-2018
A HEMS allows homeowners to monitor and reduce the energy consumption of electrical and electronic devices at home and hence to conserve energy. With HEMS, energy consumption can easily be monitored by using cellphones, tablets, or other communicating devices. It can also help in power management by tracking real-time energy consumption and comparing it with the historical data of many electronic devices. HEMS helps in improving the communication between communications devices and consumer.
One of the major trends in the market is the increased usage of computer-based systems in residential buildings to enhance productivity and reduce overall operational costs.
According to the report, increased need for saving energy is one of the major drivers of market growth. HEMS include various products and components that enable homeowners to track and monitor their energy consumption level, which helps reduce and manage the energy consumption in any residential building.
Further, the report states that one of the major challenges in this market is the need for a high level of initial investment. The initial cost of the installation of a HEM product is high because of the high cost involved in the integration of HEM products with other devices. These products are highly specialized, which increases the cost.
In terms of products, the Global HEMS market can be segmented into five:
- Lighting Controls
- Self-monitoring Systems and Services
- Programmable Communicating Thermostats
- Intelligent HVAC Controllers
- Advance Central Controllers
- Cisco Systems
- Freescale Semiconductor
- Honeywell International
- Schneider Electric
>For more information visit http://www.researchandmarkets.com/research/cfnf95/global_home