According to a new market report by Lucintel, the future of the home energy management system market looks promising with opportunities in the single family and multi family housing markets. The home energy management system market is expected to grow with a CAGR of 15% from 2019 to 2024. The major drivers for this market are stringent government regulation towards energy efficiency, increasing energy prices, real-time energy conservation approach, convenience of cloud computing and data analytics, and increased device interconnectivity.
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n this market, various wired and wireless communication technologies such as BACnet, DALI, Zigbee, Wi-Fi, and Bluetooth are used to control energy management systems. Lucintel forecasts that wireless is expected to witness the highest growth over the forecast period due to the increasing use of Wi-Fi, Bluetooth, and Zigbee in energy management systems.
Within this market, lighting controls, self-monitoring systems, programmable communicating thermostats, advanced central controllers, and intelligent HVAC controllers are the major systems for energy management in single family and multifamily housing. Lucintel forecasts that lighting control will remain the largest segment over the forecast period due to increasing adoption of Internet of Things (IoT) in the lighting industry and rising utility costs.
Europe will remain the largest market over the forecast period due to higher internet connectivity and real time services required for energy conservation.
Honeywell International, Nest Labs, Vivint, General Electric Company, Ecobee, Alarm.Com, Comcast Cable (Xfinity), Panasonic Corporation, Ecofactor, Nergyhub are among the major manufacturers of home energy management systems.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the home energy management system market by product type, communication technology, application, and region. Lucintel has prepared a comprehensive research report entitled "Home Energy Management System Market 2019-2024: Trends, Forecast, and Opportunity Analysis". This Lucintel report serves as a catalyst for growth strategy as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the home energy management system market by product type, communication technology, application, and region as follows:-
By Product Type [$M shipment analysis for 2019 – 2024]:
Lighting controls
Self-monitoring systems
Programmable communicating thermostats
Advanced central controllers
Intelligent HVAC controllers
By Communication Technology [$M shipment analysis for 2019 – 2024]:
Wired
BACnet
Digital Addressable Lighting Interface
Others
Wireless
Zigbee
Bluetooth
Wi-Fi
Others
By Applications [$M shipment analysis for 2019 – 2024]:
Single Family
Multi Family
By Region [$M shipment analysis for 2013 – 2024]:
North America
United States
Canada
Mexico
Europe
Asia Pacific
Rest of the World
This 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/home-energy-management-system-market.aspx or helpdesk@lucintel.com.
About Lucintel
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