BOSTON, Sept. 4, 2013 (GLOBE NEWSWIRE) -- Valued at $1.5 billion annually, yet with only 1.5% to 2.5% penetration in most states, the Home Energy Management Systems (HEMS) market is poised for significant growth. Industry observers have been making similar statements since 2008, but recent strategic partnerships in the utility solutions space and the connected-home market will increase both adoption rates and total market value. According to the latest report by GTM Research, Home Energy Management Systems: Vendors, Technologies, and Opportunities, 2013-2017, the U.S. HEMS market is forecasted to be worth over $4 billion by 2017.
Drawing on months of research and 32 company interviews, the report provides a comprehensive overview of the Home Energy Management Systems market including the technologies that comprise it, profiles of the key vendors, driving forces of the market, and case studies.
FIGURE: Automation and Intelligence Vendor Mapping
"In the end, both the residential consumers and vendors can benefit from HEMS," says report author Kamil Bojancyzk. "Early HEMS devices may only be represented by technologies such as smart thermostats, but these devices nevertheless represent a gateway to further adoption of home automation. Additionally, vendors have shifted towards a subscription based, recurring revenue model, helping to mitigate financial uncertainty."
The 300-page report analyzes over 100 players in utility residential demand response (DR), connected home subscriptions, software services, and associated hardware manufacturers, identifying both the leaders and the laggards.
For more information on the Home Energy Management Systems: Vendors, Technologies, and Opportunities, 2013-2017 report, please visit: http://www.greentechmedia.com/research/report/home-energy-management-systems-2013-2017.
About GTM Research:
GTM Research, a division of Greentech Media, provides critical and timely market analysis in the form of research reports, data services, advisory services and strategic consulting. GTM Research's analysis underpins Greentech Media's webinars and live events. Our coverage spans the green energy industry including solar power, smart grid, energy storage, energy efficiency and wind power sectors.
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Source: Greentech Media