NEW YORK, Nov. 4, 2015 /PRNewswire/ -- 1.0 Report Summary
Purpose of Report
This report examines how smart products and smart home systems can be leveraged to enhance home energy management. The utility, security, and home control business models, which were stable for many
years, are now in transition. The wide adoption of broadband and mobile devices, including tablets and smartphones, has changed the way that consumers feel about technology. Consumer adoption of smart products and participation in third-party energy management solutions create a challenge and an opportunity for utilities.
As consumer interest and adoption of smart devices with energy management features increase, utilities are tasked with identifying strategies that can leverage this new connectivity. New approaches and solutions
using connectivity and data are transforming the utility, security, and home controls industries and are accelerating their convergence, blurring traditional boundaries. Systems that include energy management,
security services, and remote monitoring and control capabilities are entering the market. Standards and open protocols are removing barriers to entry, flattening markets, and inviting new entrants with differentiated
value propositions and novel monetization strategies.
Scope of Report
This report focuses on the following:
- Consumer adoption and usage of technology, actions to reduce energy usage, and familiarity with utility programs
- How utility programs can leverage smart home devices and big data
- Considerations for adding smart devices to utility programs
- Smart thermostat forecast
Geographically, this study focuses on U.S. utilities. However, the concepts apply globally. Security systems, home control systems, and data security are mentioned in this report, but covered in more depth elsewhere.
1.3 Key Questions Addressed
- What trends are driving adoption of connected devices?
- How can utilities leverage big data to achieve EE and DR goals more cost effectively?
Winning Smart Home Strategies for Energy Management
- What are the strengths, weaknesses, opportunities, and threats of different approaches to leveraging smart devices in utility programs?
- How are utilities integrating smart devices into their existing demand response and energy efficiency programs?
- How are retail energy providers expanding their service offerings to capture share in the growing smart home market?
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