June 12, 2012: Home Energy Management Market Expected to Surpass $2 Billion in Revenue by 2020
“The home energy management market will make steady progress over the coming eight years,” said 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.”
Home energy management 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 home energy management systems, which include some device-level tracking and automated device control capabilities, up to networked home energy management, comprising auto-pricing response capabilities, demand response (DR) load control, and home automation controls. Of these, networked home energy management revenue will see the strongest growth (76.8 percent CAGR), as utilities attempt to drive volume sales of networked systems in order to make DR and time-of-use pricing schemes feasible.
Publication date: 6/11/2012