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HVAC Breaking News

Oct. 2, 2013: Home Energy Management Market to Exceed $4 Billion in US by 2017

Early Devices such as Smart Thermostats Provide a Gateway to Further Adoption of Home Automation

BOSTON — Currently valued at $1.5 billion, but with only 1.5 to 2.5 percent penetration in most states, the home energy management systems (HEMS) market is poised for significant growth, according to a report by GTM Research. Recent strategic partnerships in the utility solutions space and the connected-home market are expected to increase both adoption rates and total market value. The firm’s report, Home Energy Management Systems: Vendors, Technologies, and Opportunities, 2013-2017, forecasts that the U.S. HEMS market will be worth over $4 billion by 2017.

Based on both research and 32 company interviews, the report provides an overview of the home energy management systems market, including the technologies, vendors, and market drivers.

“In the end, both residential consumers and vendors can benefit from HEMS,” said 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 toward a subscription-based recurring revenue model, helping to mitigate financial uncertainty.”

For more information on the GTM Research report, click here.

Publication date: 9/30/2013

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