Despite Slow Start, Home Energy Management Market Will Surpass $2 Billion in Annual Revenue by 2020

May 16, 2012

Even as deployments of smart grid infrastructure have accelerated in recent years, the once hyped home energy management (HEM) market has struggled to gain traction.  Numerous trials have led to only a few cases of industry deployments and to anemic rates of consumer adoption.  Today that is starting to change, and over the remainder of the decade momentum will build in this nascent market.  According to a new report from Pike Research, global annual shipments of standalone HEM systems will grow from a quarter million in 2011 to nearly 4.7 million in 2020, with a compound annual growth rate (CAGR) of 38.3%.  Combined revenue for all HEM segments will grow from a base of $93 million in 2011 to more than $2 billion in 2020, the cleantech market intelligence firm forecasts.

“The home energy management market will make steady progress over the coming eight years,” says senior analyst Neil Strother.  “It will be driven by government mandates, utility programs, and a growing number of consumers looking to manage their energy bills.  Also, a combination of consumer desire to be more ‘green,’ home construction and retrofits with energy management objectives, and new technologies surrounding plug-in electric vehicles will help stimulate the market.”

HEM products can be viewed in five groups, or segments, along a continuum that moves from paper bills (a mailed statement from the utility showing a customer’s energy usage as it compares to households nearby), through standalone HEM systems, which include some device-level tracking and automated device control capabilities, up to networked HEM, comprising auto-pricing response capabilities, demand response (DR) load control, and home automation controls.  Of these, networked-HEM revenue will see the strongest growth (76.8% CAGR), as utilities attempt to drive volume sales of networked HEM systems in order to make DR and time-of-use pricing schemes feasible.

Pike Research’s report, “Home Energy Management”, examines global and regional home energy management trends as they play out along a continuum of five segments: paper bills, web portals, standalone systems, in-home displays, and integrated HAN/HEM systems.  The study also explores the drivers and inhibitors shaping the market, plus major technology issues.  It provides market forecasts through 2020, with breakdowns by these five segments and by world regions.  Key vendor profiles, analysis of new players, and case studies are included as well.  In addition to the supply-side analysis, results from a Pike Research consumer survey focus on the demand side of HEM as well, making for a complete market overview.  An Executive Summary of the report is available for free download on the firm’s website.

Contact: Richard Martin

+1 303 997 7609

press@navigantresearch.com

Register to Receive Updates

Sign up or login to receive free newsletters, research updates, access to webinars, and other analyst content from Navigant Research.

Research News

Rss
The Submarine Electricity Transmission Market Is Expected to Reach $25 Billion in 2024
Due to pressing interconnection needs, Europe currently represents the largest market for this solution, report finds • A new report from Navigant Research analyzes the global market for submarine electricity transmission…
Read More »
Annual Direct Current Distribution Network Implementation Revenue Expected to Reach $5.1 Billion in 2024
In terms of regional market share, Asia Pacific is expected to lead throughout the forecast period, report finds • A new report from Navigant Research examines the opportunity for direct current (DC) distribution…
Read More »
2015 Wind Power Capacity Installations Are Expected To Grow by 8.9%
With strong onshore and offshore turbine sales, Vestas remained the No. 1 supplier in 2014, report finds • A recent report from Navigant Research covers developments in the wind energy sector during…
Read More »
The Market for Smart Urban Mobility Infrastructure and Services Is Expected to Exceed $25 Billion in 2024
New forms of smart mobility are helping cities address congestion and reduce emissions, report finds …
Read More »
View All News

{"userID":"","pageName":"Despite Slow Start, Home Energy Management Market Will Surpass $2 Billion in Annual Revenue by 2020","path":"\/newsroom\/despite-slow-start-home-energy-management-market-will-surpass-2-billion-in-annual-revenue-by-2020","date":"7\/2\/2015"}