Analysis of Global Home Energy Management System (HEMS) Market Industry 2023

Global Home Energy Management SystemsMarket: Trends and Forecasts up to 2023

INFINIUM GLOBAL RESEARCH

Global Home Energy Management Systems Market: Trends and Forecast -2023

INTRODUCTION REPORT DESCRIPTION

Home energy management system (HEMS) is product or service which controls, monitors or analyzes energy used at home. Some of the home energy management system includes personal energy management, home automation services, utility demand response program, auditing, visualization & data analysis and other security services. Whilst home energy management system enables energy optimization and power efficiency, it also connects every part of the smart home and controls it from a central point. These systems basically provide interface between energy consuming objects in the house and smart grid. With growing awareness about new products/services that better manage and help to control home energy consumption, the global HEMS market is gaining momentum.

Additionally, Honeywell announced its Lyric smart thermostat with geo-fencing that automatically auto-adjusts thermostat settings. Retailers have been promoting their products with energy management solutions. Moreover, the report identified the factors that drive the growth in this market such as home energy management systems efficiently manage and monitor the consumption of energy, and awareness program by the governments to conserve and save energy consumption. On the other hand complexity of energy management systems and high cost of installation and implementation are some of the major restraints in the market.

This report estimates the market size of Home Energy Management Systems in terms of value (USD million) over the period of 2017 to 2023. The year 2017 is considered to be a base year, and 2017 to 2023 is considered to be a forecast period. Moreover, the market sizes for Home Energy Management Systems by technology and by components is estimated in terms of value. This market research study provides detailed qualitative and quantitative analysis of the global Home Energy Management Systems market. Additionally, the report provides a comprehensive review of the major market drivers, restraints, opportunities in the global as well as regional markets of Home Energy Management Systems. The market analysis covers major geographic regions, such as North America, Europe, Asia-Pacific, Latin America

2

|

ŠInfinium Global Research

Global Home Energy Management Systems Market: Trends and Forecast -2023

and Rest of the World (RoW). The market size and forecasts are also given for these regions. Countries with major market shares are covered for each of the region Furthermore, this report provides insights into the market using analytical tools such as Porter’s five forces analysis and DRO analysis of Home Energy Management Systems market. Moreover, the study highlights current market trends and provides forecast from 2017 to 2023. We also have highlighted future trends in the global Home Energy Management Systems market that will impact the demand during the forecast period. The IGR- Growth Matrix analysis provided in this report highlights key investing markets in the world. This report will help manufacturers, suppliers and distributors to understand the present and future trends in this market and formulate their strategies accordingly.

SEGMENTATION AND RESEARCH SCOPE HOME ENERGY MANAGEMENT SYSTEMS MARKET SEGMENTATION Home Energy Management Systems Market

Technology • • • • • •

Wi-Fi HomePlug Wireless M-Bus Z-Wave Zigbee Others (Ethernet, Wavenis, Insteon and Enocean)

Region

Component • • •

Enabling technologies Control devices User interface

• • • • •

North America Europe Asia Pacific Latin America RoW

On the basis of technology used the global home energy management market can be segmented into Wi-Fi, HomePlug, Wireless M-Bus, Z-Wave, Zigbee and others (Ethernet, Wavenis, Insteon and Enocean). HEMS market is also categorized on the basis of components as enabling technologies, control devices and user interface.

3

|

©Infinium Global Research

Global Home Energy Management Systems Market: Trends and Forecast -2023

RESEARCH METHODOLOGY METHODOLOGY Infinium Global Research published reports are based on extensive primary and secondary research methods. The research begins with extensive exploration through secondary sources followed by primary research. With these research methods we were able to estimate the market size of the home energy management systems market, to identify the factors that promote the growth in this market as well as the factors that hamper the growth in the market. Comprehensive primary and secondary methods helped us to identify the trends in the market and to project the opportunities that the key players may get in the coming days.

RESEARCH METHODOLOGY: AN OUTLINE • Primary sources of the information and data include • Industry Experts/ consultants Primary Research

• Top level executives in the key market players • Subject matter experts • Academicians and research scholars • Secondary sources of the information and data include • Company annual reports

Secondary

research

• Government/institutional publications • Trade and associations’ journals

• Databases • Websites and publications by research agencies • Others

For More Details Get Free Sample Pages of this Report @ https://www.infiniumglobalresearch.com/reports/sample-request/725

4

|

©Infinium Global Research

Global Home Energy Management Systems Market: Trends and Forecast -2023

Primary Research Our primary research involves extensive interviews and analysis of the opinions provided by the primary respondents. The primary research starts with identifying and approaching the primary respondents, the primary respondents are approached through 1. Key Opinion Leaders associated with Infinium Global Research 2. Internal and External subject matter experts 3. Professionals and participants from LinkedIn, Hoovers, Factiva and Bloggers 4. Our primary research respondents typically include 5.

6.

7.

8.

9.

Executives working with leading companies in the market under review Product/brand/marketing managers CXO level executives Regional/zonal/ country managers Vice President level executives.

Secondary Research Secondary research involves extensive exploring through the secondary sources of information available in both public domain and paid sources. At Infinium Global Research, each research study is based on over 500 hours of secondary research accompanied by primary research. The information obtained through the secondary sources is validated through the crosscheck on various data sources. The secondary sources of the data typically include • Company annual reports • Government/institutional publications • Trade and associations’ journals • Databases such as WTO, OECD, Hoovers, Factiva, Statista, The American Council for Energy Efficient Economy, IEEE, European Environment Agency, and Worldbank, among others.

• Websites and publications by research agencies

5

|

©Infinium Global Research

Global Home Energy Management Systems Market: Trends and Forecast -2023

DATA COLLECTION MATRIX: RESEARCH METHODOLOGY: DATA COLLECTION MATRIX

Demand Side analysis

Global market size (Consumption)

Supply Side Analysis

Production +Import -Export

Data collection matrix explains the triangulation of the data collected to arrive at the market size of the global home energy management systems market. The supply side analysis considers the production of home energy management systems. The supply side analysis also takes into consideration the suppliers of raw materials, the manufacturers and other stakeholders involved into supply of the home energy management systems. The demand side analysis considers the applications areas of the home energy management systems market. In this approach the various industry players are considered. The country-wise sales values provide the data of consumption of home energy management systems in the regional as well as global markets. Moreover, this approach helps analyze the future trends and the market size of the global as well as regional home energy management systems market. In order to arrive at the market size as well as to validate the data findings from supply and demand side analyses the import, export and production data are considered.

The consumption in the global, regional as well as country markets is estimated using the following formula Consumption= (Production + Import) – Export

6

|

ŠInfinium Global Research

Global Home Energy Management Systems Market: Trends and Forecast -2023

Get 15% discount for early purchase of Global Home Energy Management System Market report by clicking the following link, Use code IGRD15 to request the discount in the given form @ https://www.infiniumglobalresearch.com/reports/request-discount/725 RESEARCH APPROACHES- BOTTOM UP Arriving at global market size Market share of

key players Bottom-Up Approach

Key Market Players

• Accumulation of the country level market size (sales value) • Regional market size of home energy management systems

and its applications

• Segment revenue of the key players • Country level market size by technology and components (sales value)

• Identifying key players in the home energy management systems market

Arriving at

regional/country

• Accumulation of the regional/country market size (sales value) • Global market size of product types and applications

market size

RESEARCH APPROACHES- TOP-DOWN Global market

Market Segments

Top- Down Approach Determine the regional market size

Country Level market sizing

• Global market size of RADFETs market • sales value for 2015 to 2017

• % breakdown by market segments by product types and applications • sales value for 2015 and 2017

• Regional market size of the RADFETs market (sales value) • Regional market size of product types and applications

• Country level market size of the RADFETs market in every region (sales value) • Country level market size of product types and applications in every region

The study on global home energy management systems market provides deep insights into the trends and opportunities in the market for the forecast period 2017 7

|

©Infinium Global Research

Global Home Energy Management Systems Market: Trends and Forecast -2023

to 2023. Moreover, the market estimates are provided in terms of revenue in USD million. Furthermore, the research covers the analysis of the various segments in the global home energy management systems market. The estimates in the global Home energy management systems market are based on both bottom-up and top-down approaches. In the bottom-up approach the revenues of the key players are determined and added to arrive at country or regional markets size. The country market sizes added to arrive at the regional market size. Further, the market size of the regions is added to arrive at the global market size of home energy management systems market.

In the top-down approach the global market size is estimated based on the secondary research and historic data. Using this approach the regional market size is obtained by splitting the global number by percentage share of each region such as North America, Europe, Asia Pacific, Latin America and RoW.

IGR- RESEARCH METHOD AND DATA TRIANGULATION SECONDARY SOURCES.

•C-level executives in the leading manufacturing companies •Product managers •Sales managers •Industry consultants •Distributors/Suppliers

Infinium’s Data bank/Know how

• Annual Reports

• Presentations • Company Websites • Press Releases • News Articles • Journals

Primary Research

Secondary Research

• Paid Databases

Company Publications .

SUPPLY SIDE

•Hospitals and diagnostic centers •Medicine wholesalers/chains • Others

• Industry Publications • The American Pharmacist Association • Government Agencies’ Publications • Industry news ‘ • Data sources • Trade Associations’ publications • Others

General. Publications

DEMAND SIDE

PRIMARY SOURCES

Data Triangulation and Information Sources

The market size of home energy management systems is determined based on the top down approach. The market size is validated using primary interview with the participants working in some of the leading players in the home energy management systems market. The primary interview participants typically includes managers and 8

|

©Infinium Global Research

Global Home Energy Management Systems Market: Trends and Forecast -2023

CXO level executives of the leading players in this market. The primary interviews not only help identify the market size of the home energy management systems market but also identify the factors that promote the growth in the market and the factors that restrain the growth in this market. The views of primary respondents were reconciled to provide qualitative analysis of the home energy management systems market. The primary respondents also help identifying top 5-10 players and their possible market share in the respective country markets and in world market. The bottom-up approach is used to validate the global market size of home energy management systems. With the help of primary interviews and secondary research the market size of home energy management systems is determined for each country studied, which then is added to arrive at regional market size and thereby obtaining global market size. This in turn helps us to validate the market size of Home energy management systems in the world market.

EXECUTIVE SUMMARY GLOBAL HOME ENERGY MANAGEMENT SYSTEMS MARKET HIGHLIGHTS, (USD MILLION) The global home energy management systems market is driven by the factors such as growing awareness about the energy management and conservation, government initiatives promoting to save and manage energy. However, high investment costs and complexity in using are some of the restraining factors affecting the growth in the global home energy management systems market over the forecast period.

North America dominates the world home energy management systems market in terms of dollar share, while Asia Pacific is anticipated to grow at the highest CAGR over the forecast period. The growth in the Asia-Pacific region is primarily driven by emerging economies such as India and China.

North America is the largest revenue generating region it is mainly driven by large scale production and consumption of home energy management systems in the U.S. and Canada. Europe is the second biggest market for home energy management systems market after North America. These regions are expected to witness moderate growth due to developed nature of economies.

9

|

ŠInfinium Global Research

Global Home Energy Management Systems Market: Trends and Forecast -2023

Some of the key players in the global Home Energy Management Systems market are Alert Me (British Gas), AT&T INC., Honeywell International Inc, Panasonic Corporation, General Electric, Vivint Inc., Schneider Electric SA, C3 Energy, Sharp Corporation, and Intel Corporation.

GLOBAL HOME ENERGY MANAGEMENT SYSTEMS MARKET CAGR (VOLUME) GROWTH BY REGIONS GLOBAL HOME ENERGY MANAGEMENT SYSTEMS MARKET, CAGR (VOLUME) GROWTH BY REGIONS (2017 – 2023)

xx.x xx.x xx.x

xx.x xx.x 2015

2015

2021

2021

xx.x

CAGR: X.X%

CAGR: X.X%

2015

2021

CAGR: X.X%

Asia-Pacific, Middle East and Latin America are expected to drive the growth in the world market. The Asia-Pacific region is expected to grow at a CAGR of x.x% over the forecast period, followed by Latin America and RoW regions growing at CAGRs x.x% and x.x% respectively over the period of 2017 – 2023.

10

|

©Infinium Global Research

Global Home Energy Management Systems Market: Trends and Forecast -2023

MARKET OVERVIEW AND COMPETITIVENESS DRO ANALYSIS DRO stands for drivers, restraints and opportunities. The DRO analysis involves, identifying the factors that are likely to have impact on the global Home Energy Management Systems market. It covers analysis of short term and long term impact of drivers and restraints. Through this analysis both short term and long term opportunities are identified. These opportunities present the investment options and new markets for the market players in the Home Energy Management Systems market.

Drivers refer to the factors that are expected to drive or boost the market size or demand for Home Energy Management Systems. The analysis involves identification of both demand side and supply side factors that drive the demand as well as environmental factor that favor the market conditions for growth of Home Energy Management Systems market both in short run and long run.

DRIVERS DRIVERS OF HOME ENERGY MANAGEMENT SYSTEMS MARKET, IMPACT ANALYSIS Driver

Short term Impact

Mid term Impact

Long term impact

Driver 1

Driver 2

Driver 3

Low

Moderate

High

Note: The size of blue color represents the level of impact of driving factor

11

|

ŠInfinium Global Research

Global Home Energy Management Systems Market: Trends and Forecast -2023

RESTRAINTS DRIVERS OF HOME ENERGY MANAGEMENT SYSTEMS MARKET, IMPACT ANALYSIS Restraints

Short term Impact

Mid term Impact

Long term impact

Restraints 1

Restraints 2

Low

Moderate

High

Note: The size of red color represents the level of impact of restraining factor

IGR- GROWTH MATRIX ANALYSIS Growth matrix developed by Infinium Global Research, also known as IGR-Growth Matrix helps understand the market situation of the business segments. It helps identify the most attractive segment for the investment purpose and helps the companies to make better decisions in strategy making. The IGR- Growth Matrix presents the zones that define the position of the product segment and application segment based on the market size, growth anticipated and the growth factors & historic growth. Following are the zones that IGR- Growth Matrix considers  Risky Zone: Low market size and low growth rate. Investment in this segment is risky  Retention Zone: High market size and low growth rate, the companies operating in this segment should retain their investments in this segment.

Companies may focus on extensive marketing and advertisements  Consolidation zone: High growth rate and high market size, the companies operating in the segments that have high market size and high growth should focus on consolidating their market position in these segment. Mergers and 12

|

©Infinium Global Research

Global Home Energy Management Systems Market: Trends and Forecast -2023

acquisitions, extensive marketing programs, and new product developments can be used as marketing strategies to consolidate the market in these segments.  Opportunity Zone: High growth low market size  Safe Zone: Moderate growth and moderate market size.

IGR- GROWTH MATRIX ANALYSIS Growth Rate

High

Consolidation zone

Opportunity zone

Low Risky zone

Retention zone High

Low North America

13

|

Europe

Asia-Pacific

Rest of the World

©Infinium Global Research

Market Size

Global Home Energy Management Systems Market: Trends and Forecast -2023

COMPANY PROFILES ALERTME ALERTME Contact details Address: Tele: Fax: website Financial Information Revenue Net Profit

Key Features No. of Employees: No. of countries of operation: No. of SBUs/Subsidiaries: Segment Revenue

Browse Detailed Description and Company Mentioned in this Report @ https://www.infiniumglobalresearch.com/energy-mining-infra/global-homeenergy-management-system-hems-market

14

|

ŠInfinium Global Research