The Home Energy Management Systems Market in Europe and North America to 2027: Grid Independence and Power Outage Protection Fuel the Sector

DUBLIN, July 10, 2023 /PRNewswire/ -- The "The Home Energy Management Systems Market - 1st Edition" report has been added to ResearchAndMarkets.com's offering.

The publisher estimates that the installed base of HEMS in Europe and North America will grow at a compound annual growth rate of 43.8 percent from 1.5 million units in 2022 to 9.0 million units in 2027. 

In this study, a HEMS is defined as a system that at minimum consists of a solar PV system, battery storage system and a web-based management portal or smartphone app that allows for remote monitoring and control of the system. A wider HEMS also integrates backup generators, EV chargers, heat pumps, home appliances and other connected products and systems in the home.

There were an estimated 950,000 HEMS installed in European homes at the end of 2022. An estimated 320,000 systems were added to the installed base during the year. This figure includes both new installations of solar PV + battery storage systems as well as installations of battery storage systems in existing solar PV systems (i.e. retrofits). The penetration rate is still very low in Europe, below one percent.

Germany is by far the leading market. Growing at a CAGR of 40.3 percent, the installed base of HEMS in Europe is estimated to reach 5.2 million systems at the end of 2027. There were at the same time an estimated 520,000 HEMS installed in North American homes at the end of 2022.

Shipments including both new installations and retrofits reached 250,000 systems during the year. Only about 0.5 percent of the houses and MDUs in the region now have a HEMS installed. The installed base of HEMS in North America is estimated to grow at a CAGR of 49.4 percent to reach 3.9 million systems at the end of 2027.

The HEMS value chain spans various companies from different industry sectors. Some companies are vertically integrated, offering a complete HEMS based on in-house developed hardware and software solutions. Other companies develop and manufacture one of the components of HEMS.

The residential sector accounts for about a fourth of the total energy consumption in North America and Europe. As the adoption of electric cars and heating systems are expected to grow fast during the coming years, household electricity consumption is also expected to increase.

Highlights from the report:

• Insights from 20 executive interviews with market leading companies.
• Comprehensive overview of the HEMS value chain and key applications.
• In-depth analysis of market trends and key developments.
• Statistical data on residential solar PV system adoption in Europe and North America.
• Profiles of 42 companies active in the solar PV, battery storage and HEMS industry.
• Detailed market sizing and forecasts lasting until 2027

The report answers the following questions:

• Which are the main applications within HEMS?
• How important are government subsidies and tax reductions for adoption?
• What are the business models and channels-to-market for HEMS solutions?
• Which are the leading HEMS providers in Europe and North America?
• Which are the main connectivity technologies and standards?
• What is the potential market size for cellular IoT in the HEMS market?
• How will the HEMS market evolve in the next five years?
• Which are the main trends in the industry?

Key Topics Covered:

1 Introduction
1.1 Home Energy Management Systems (HEMS)
1.2 The electricity market
1.3 Residential solar PV system installations
1.4 Market drivers for HEMS
1.4.1 Government subsidies and incentives
1.4.2 Load management and demand response programmes
1.4.3 Rising electricity prices
1.4.4 Declining costs of solar PV and battery storage solutions
1.4.5 Grid independence and power outage protection
1.4.6 EVs and electrical heating systems increasingly popular

2 Communications Technologies and Standards
2.1 3GPP cellular and LPWA technologies
2.1.1 2G/3G/4G/5G cellular technologies and IoT
2.1.2 LoRa and LoRaWAN
2.1.3 Sigfox
2.2 Home networking technologies and standards
2.2.1 Bluetooth
2.2.2 EEBus
2.2.3 EnOcean
2.2.4 Home Connectivity Alliance (HCA)
2.2.5 KNX
2.2.6 Matter
2.2.7 Modbus
2.2.8 Open Charge Point Protocol (OCPP)
2.2.9 Open Connectivity Foundation (OCF)
2.2.10 OpenTherm
2.2.11 SunSpec
2.2.12 Thread
2.2.13 Wi-Fi
2.2.14 Zigbee
2.2.15 Z-Wave

3 Solution Vendors and Strategies
3.1 Inverter and complete home energy management system providers
3.1.1 E3/DC (Hager Group)
3.1.2 Eaton
3.1.3 Enphase Energy
3.1.4 Ferroamp
3.1.5 FIMER (McLaren Applied)
3.1.6 Fronius
3.1.7 Generac
3.1.8 GivEnergy
3.1.9 Growatt New Energy
3.1.10 Huawei
3.1.11 Kostal
3.1.12 Savant Systems
3.1.13 Schneider Electric
3.1.14 Senec (EnBW)
3.1.15 SimpliPhi Power (Briggs & Stratton)
3.1.16 SMA Solar Technology
3.1.17 SolarEdge
3.1.18 Solarwatt
3.1.19 Tesla
3.1.20 Tigo Energy
3.1.21 Viessmann Climate Solutions (Carrier)
3.2 Battery storage specialists
3.2.1 BYD Electronic
3.2.2 Eguana Technologies
3.2.3 FranklinWH Energy Storage
3.2.4 LG Energy Solution
3.2.5 Lunar Energy
3.2.6 Polarium Energy Solutions
3.2.7 Pylon Technologies
3.2.8 Sonnen (Shell)
3.2.9 Varta
3.3 Smart electrical panel and energy manager device providers
3.3.1 Legrand
3.3.2 Leviton
3.3.3 Lumin
3.3.4 SPAN
3.3.5 Smappee
3.4 HEMS platform providers and integrators
3.4.1 Alarm.com
3.4.2 GridX (E.ON)
3.4.3 Homey (Athom)
3.4.4 Kiwigrid
3.4.5 myGEKKO (Ekon)
3.4.6 Tibber
3.4.7 Tiko Energy Solutions (Engie)

4 Market Analysis and Trends
4.1 Market forecasts
4.2 Value chain analysis
4.2.1 Leading home energy management system providers
4.2.2 Other companies entering the HEMS market
4.3 Trends
4.3.1 Reduced net metering rates increases demand for battery storage systems
4.3.2 Virtual power plants to become more powerful as more DERs are connected
4.3.3 EV batteries to be used for home backup power

For more information about this report visit https://www.researchandmarkets.com/r/2pz94y

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