NEW YORK, June 7, 2016 /PRNewswire/ -- Global HEMS– market size and drivers:
The global market for HEMS is expected to grow at a CAGR of 18.36% between 2016 and 2022 from USD 864.2 million in 2015 to USD 3.15 billion by 2022. The market is expected to be driven by the increasing real-time energy conservation approach, convenience of cloud computing and data analytics, and increased device interconnectivity.
ZigBee technology is expected to grow at the highest rate in the HEMS market
With the growing potential and awareness the ZigBee protocol is expected to grow at a faster pace. As it can be structured in a variety of topologies such as mesh, stellate, and tree, ZigBee is widely preferred by most of the HEMS providers. ZigBee is preferred for applications related to low data rate, long battery life, and secure networking. As a result of the advanced features and excellent compatibility provided by this protocol, most of the Fortune 500 companies are supporting and joining the ZigBee alliance. This factor is expected to have a high influence on the high growth of ZigBee technology across the globe, during the forecast period.
North Americas and Asia-Pacific are major markets
North America accounted for the largest share of the global HEMS market in 2015 because of the growing necessity of energy conservation in the homes and better and customized services provided by the HEMS providers in the U.S., Canada, and Mexico. The HEMS market in Asia-Pacific, however, is expected to grow at the highest rate. This region has a considerable market in countries such as China, Japan, Australia, and the Rest of APAC (RoAPAC). Currently, Japan is considered to be a huge market for HEMS because of the considerable implementation rate of various control devices such as lighting controllers and smart meters in this country. Economies such as Australia, China, India, Singapore, and Malaysia among others are expected to grow at a high growth rate for home automation products during the forecast period.
In the process of determining and verifying the market size for several segments and sub-segments gathered through the secondary research, extensive primary interviews were conducted with key people in the HEMS industry. The break-up of primary participants for the report is shown below:
- By Company type – Tier 1– 55%, Tier 2 – 20%, and Tier 3 – 25%
- By Designation – C-level – 43%, Manager level – 32%, and others – 25%
- By Region – North America – 60%, Europe – 25%, Asia-Pacific – 10%, and RoW – 5%
The report profiles key players in the HEMS market with their respective market share analysis. The prominent players profiled in this report are Honeywell International, Inc. (U.S.), Nest Labs, Inc. (U.S.), Ecobee (Canada), General Electric Company (U.S.), EnergyHub, Inc. (U.S.), Vivint, Inc. (U.S.), Panasonic Corporation (Japan), Alarm.com (U.S.), Ecofactor (U.S.), and Comcast Cable (Xfinity, U.S.).
The report will help leaders/new entrants in this market in the following ways:
1. This report segments the HEMS market comprehensively and provides the closest market size projection for all sub-segments across different regions.
2. The report helps stakeholders understand the pulse of the market and provides them with the information on key drivers, restraints, challenges, and opportunities for market growth.
3. This report would help stakeholders better understand a competitor and gain more insights to improve their position in the business. The competitive landscape section includes competitor ecosystem, new product developments, partnerships, and mergers & acquisitions.
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