Market Overview:
The global home energy management systems market was worth US$ 1.9 Billion in 2019. Home energy management system is a smart electronic device that is used to manage the consumption of energy in households. This device enables the homeowners to efficiently monitor their energy requirements and to get an individual appliance’s electricity consumption pattern and power consumption data. The hardware part of the system includes a hub which can be mounted on an electrical board. The hub mediates between the software and the user, and can be operated virtually through a wireless device. It can also be connected to other smart devices at home. The software part of the system allows the user to monitor and customize the usage. It can be accessed through apps and web portals. The HEMS interface can be specific to the effectiveness of the performance of the system or it can be dedicated to the mobility of the device. Some of the basic functions of the device include monitoring the usage of electricity, management of backup with the help of battery storage, and efficient use of solar energy.
Catalyzed by rising awareness among consumers towards the sustainable use of energy resources, a strong growth has been witnessed in the demand of energy-efficient appliances and home energy management systems. Consumers are realizing that these systems are not only helping in reducing energy expenses, but are also playing a major part in making the available energy resources more sustainable. Other major factor driving the home energy management systems market include rising penetration of the internet across both developed and developing economies, increasing role of Internet of Things (IoT) and Big Data in energy management, growing market for smart homes, etc. Looking forward, IMARC Group expects the global home energy management systems market to exhibit strong growth during the next five years.
Market Summary:
- Based on the product type, the market has been segmented into lighting controls, self-monitoring systems and services, programmable communicating thermostats, advanced central controllers and intelligent HVAC controllers. Lighting controls currently represent the biggest segment.
- Based on the communication technology, the market has been segmented into Z-Wave, Zigbee, Wi-Fi and other communication technologies.
- Based on the software & service type, the market has been segmented into behavioral and proactive.
- Region-wise, the market has been segmented into North America, Asia Pacific, Europe, Middle East and Africa, and Latin America.
- The competitive landscape of the market has also been examined with some of the key players being Honeywell International, Inc., Nest Labs, Inc., Vivint, Inc., General Electric Company, Ecobee, Inc., Alarm.Com, Comcast Cable (Xfinity), Panasonic Corporation, Ecofactor, Inc. and Energyhub, Inc.
This report provides a deep insight into the global home energy management systems market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the home energy management systems industry in any manner.
Key Questions Answered in This Report:
The global home energy management system market was worth US$ 1.9 Billion in 2019.
The rising awareness among consumers about the sustainable use of energy has boosted the adoption of home energy management systems across the globe. The increasing electrification rates, and growing adoption rates of heating, ventilating, and air conditioning (HVAC) systems are also contributing to the market growth.
The advent of smart homes and the internet of things (IoT), along with the rising penetration of the internet and big data in energy management systems, represent some of the major market trends.
The global home energy management system market is expected to reach US$ 4.3 Billion by 2025.
On the basis of the product, lighting controls represent the most popular segment. Other major products include self-monitoring systems and services, programmable communicating thermostats, advanced central controllers and intelligent HVAC controllers.
Based on the communication technology, the market is segmented into Z-wave, Zigbee, Wi-Fi, and others.
The market has been classified on the basis of the software and services into behavioral and proactive.
Region-wise, North America exhibits a clear dominance in the market. Other major regions are Europe, Asia Pacific, Latin America, and Middle East and Africa.
The leading industry players are Honeywell International, Inc., Nest Labs, Inc., Vivint, Inc., General Electric Company, Ecobee, Inc., Alarm.Com, Inc., Comcast Cable Communications, LLC, (Xfinity), Panasonic Corporation, EcoFactor, Inc. and Energyhyb, Inc.
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Home Energy Management Systems Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Breakup by Product
5.5 Market Breakup by Communication Technology
5.6 Market Breakup by Software & Service
5.7 Market Breakup by Region
5.8 Market Forecast
5.9 SWOT Analysis
5.9.1 Overview
5.9.2 Strengths
5.9.3 Weaknesses
5.9.4 Opportunities
5.9.5 Threats
5.10 Value Chain Analysis
5.11 Porters Five Forces Analysis
5.11.1 Overview
5.11.2 Bargaining Power of Buyers
5.11.3 Bargaining Power of Suppliers
5.11.4 Degree of Competition
5.11.5 Threat of New Entrants
5.11.6 Threat of Substitutes
6 Market Breakup by Product
6.1 Lighting Controls
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Self-Monitoring Systems and Services
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Programmable Communicating Thermostats
6.3.1 Market Trends
6.3.2 Market Forecast
6.4 Advanced Central Controllers
6.4.1 Market Trends
6.4.2 Market Forecast
6.5 Intelligent HVAC Controllers
6.5.1 Market Trends
6.5.2 Market Forecast
7 Market Breakup by Communication Technology
7.1 Z-Wave
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Zigbee
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Wi-Fi
7.3.1 Market Trends
7.3.2 Market Forecast
7.4 Others
7.4.1 Market Trends
7.4.2 Market Forecast
8 Market Breakup by Software & Service
8.1 Behavioral
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Proactive
8.2.1 Market Trends
8.2.2 Market Forecast
9 Market Breakup by Region
9.1 North America
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 Europe
9.2.1 Market Trends
9.2.2 Market Forecast
9.3 Asia Pacific
9.3.1 Market Trends
9.3.2 Market Forecast
9.4 Middle East and Africa
9.4.1 Market Trends
9.4.2 Market Forecast
9.5 Latin America
9.5.1 Market Trends
9.5.2 Market Forecast
10 Competitive Landscape
10.1 Market Structure
10.2 Key Players
10.3 Profiles of Key Players
10.3.1 Honeywell International, Inc.
10.3.2 Nest Labs, Inc.
10.3.3 Vivint, Inc.
10.3.4 General Electric Company
10.3.5 Ecobee, Inc.
10.3.6 Alarm.Com
10.3.7 Comcast Cable (Xfinity)
10.3.8 Panasonic Corporation
10.3.9 Ecofactor, Inc.
10.3.10 Energyhub, Inc.
List of Figures
Figure 1: Global: Home Energy Management Systems Market: Major Drivers and Challenges
Figure 2: Global: Home Energy Management Systems Market: Sales Value (in Billion US$), 2014 - 2019
Figure 3: Global: Home Energy Management Systems Market: Breakup by Product (in %), 2019
Figure 4: Global: Home Energy Management Systems Market: Breakup by Communication Technology (in %), 2019
Figure 5: Global: Home Energy Management Systems Market: Breakup by Software & Service (in %), 2019
Figure 6: Global: Home Energy Management Systems Market: Breakup by Region (in %), 2019
Figure 7: Global: Home Energy Management Systems Market Forecast: Sales Value (in Billion US$), 2020-2025
Figure 8: Global: Home Energy Management Systems Industry: SWOT Analysis
Figure 9: Global: Home Energy Management Systems Industry: Porter’s Five Forces Analysis
Figure 10: Global: Home Energy Management Systems (Lighting Controls) Market: Sales Value (in Million US$), 2014 & 2019
Figure 11: Global: Home Energy Management Systems (Lighting Controls) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 12: Global: Home Energy Management Systems (Self-Monitoring Systems and Services) Market: Sales Value (in Million US$), 2014 & 2019
Figure 13: Global: Home Energy Management Systems (Self-Monitoring Systems and Services) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 14: Global: Home Energy Management Systems (Programmable Communicating Thermostats) Market: Sales Value (in Million US$), 2014 & 2019
Figure 15: Global: Home Energy Management Systems (Programmable Communicating Thermostats) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 16: Global: Home Energy Management Systems (Advanced Central Controllers) Market: Sales Value (in Million US$), 2014 & 2019
Figure 17: Global: Home Energy Management Systems (Advanced Central Controllers) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 18: Global: Home Energy Management Systems (Intelligent HVAC Controllers) Market: Sales Value (in Million US$), 2014 & 2019
Figure 19: Global: Home Energy Management Systems (Intelligent HVAC Controllers) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 20: Global: Home Energy Management Systems (Z-Wave) Market: Sales Value (in Million US$), 2014 & 2019
Figure 21: Global: Home Energy Management Systems (Z-Wave) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 22: Global: Home Energy Management Systems (Zigbee) Market: Sales Value (in Million US$), 2014 & 2019
Figure 23: Global: Home Energy Management Systems (Zigbee) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 24: Global: Home Energy Management Systems (Wi-Fi) Market: Sales Value (in Million US$), 2014 & 2019
Figure 25: Global: Home Energy Management Systems (Wi-Fi) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 26: Global: Home Energy Management Systems (Other Communication Technologies) Market: Sales Value (in Million US$), 2014 & 2019
Figure 27: Global: Home Energy Management Systems (Other Communication Technologies) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 28: Global: Home Energy Management Systems (Behavioral) Market: Sales Value (in Million US$), 2014 & 2019
Figure 29: Global: Home Energy Management Systems (Behavioral) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 30: Global: Home Energy Management Systems (Proactive) Market: Sales Value (in Million US$), 2014 & 2019
Figure 31: Global: Home Energy Management Systems (Proactive) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 32: North America: Home Energy Management Systems Market: Sales Value (in Million US$), 2014 & 2019
Figure 33: North America: Home Energy Management Systems Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 34: Europe: Home Energy Management Systems Market: Sales Value (in Million US$), 2014 & 2019
Figure 35: Europe: Home Energy Management Systems Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 36: Asia Pacific: Home Energy Management Systems Market: Sales Value (in Million US$), 2014 & 2019
Figure 37: Asia Pacific: Home Energy Management Systems Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 38: Middle East and Africa: Home Energy Management Systems Market: Sales Value (in Million US$), 2014 & 2019
Figure 39: Middle East and Africa: Home Energy Management Systems Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 40: Latin America: Home Energy Management Systems Market: Sales Value (in Million US$), 2014 & 2019
Figure 41: Latin America: Home Energy Management Systems Market Forecast: Sales Value (in Million US$), 2020-2025
List of Tables
Table 1: Global: Home Energy Management Systems Market: Key Industry Highlights, 2019 and 2025
Table 2: Global: Home Energy Management Systems Market Forecast: Breakup by Product (in Million US$), 2020-2025
Table 3: Global: Home Energy Management Systems Market Forecast: Breakup by Communication Technology (in Million US$), 2020-2025
Table 4: Global: Home Energy Management Systems Market Forecast: Breakup by Software & Service (in Million US$), 2020-2025
Table 5: Global: Home Energy Management Systems Market Forecast: Breakup by Region (in Million US$), 2020-2025
Table 6: Global: Home Energy Management Systems Market: Competitive Structure
Table 7: Global: Home Energy Management Systems Market: Key Players