In-home displays are losing market traction and standalone home energy management is outpacing networked offerings
A new report from Navigant Research examines the global home energy management (HEM) market, with a focus on home energy reports (HERs), digital tools, standalone HEM, and networked HEM, providing forecasts of device shipments, users, reports sent, and revenue, broken out by segment and world region, through 2025.
HEM is a broad market segment covering technologies and services that consumers use to better manage and control their home energy consumption. The concept has shifted in the last few years, and hardware and software vendors and non-energy service providers are seizing market momentum, making energy management a natural progression of their business. Click to tweet: According to a new report from @NavigantRSRCH, global revenue attributed to HEM devices is expected to grow from almost $2.3 billion in 2016 to $7.8 billion in 2025.
“Non-traditional players have a claim on the HEM market with their existing in-home offerings, and are driving a shift in the market from holistic HEM to energy management as a component of the connected home,” says Paige Leuschner, research analyst with Navigant Research. “Relatively flat electricity prices and the ability to offer HEM without smart metering has caused utilities to take a passive role in this market in place of non-energy service providers.”
In terms of technology, several trends are further shaping the market. According to the report, in-home displays are losing traction while standalone HEM is triumphing over networked HEM. Regionally, the market is gaining speed in Europe and Asia Pacific after having been largely focused in North America.
The report, Market Data: Home Energy Management, analyzes the global HEM market, with a focus on four key segments: HERs, digital tools, standalone HEM, and networked HEM. The study examines the key drivers, barriers, and trends affecting the market. Global HEM market forecasts of device shipments, users, reports sent, and revenue, broken out by segment and world region, extend through 2025. The report also provides an overview of the key technologies and segments related to HEM. An Executive Summary of the report is available for free download on the Navigant Research website.
Contact: Lindsay Funicello-Paul
* The information contained in this press release concerning the report, Market Data: Home Energy Management, is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.