Lewes, DE -- (SBWIRE) -- 03/31/2017 -- Report forecast the global home energy management systems market to grow at a CAGR of 18.71% during the period 2017-2021.

HEMS are devices that are installed in residential buildings to enable the provision of feedback on electricity consumption patterns and power consumption data for individual appliances. These systems perform pre-programmed functions, such as maintaining the temperature of houses. In addition, HEMS not only provide demand-response prompts from utility loads but also provide data about loads generated by microgrids. The data generated are provided to users, wherein they can view their energy consumption patterns and compare them with historical data.

The report covers the present scenario and the growth prospects of the global home energy management systems market for 2017-2021. To calculate the market size, the report considers the new installations in the market.

The market is divided into the following segments based on geography:
- Americas
- APAC
- EMEA

According to the report, one of the major drivers for this market is growing adoption of smart grid technologies. The growing adoption of smart grids is one of the key factors for the increased use of HEMS. Globally, utilities are adopting smart grid technologies as a measure to improve the reliability of the grid and for achieving energy efficiency. Technologies such as remote terminal units, intelligent electronic devices, and other supervisory control and data acquisition systems are being adopted in the transmission and distribution infrastructure, while smart meters are being installed in consumer homes.

Further, the report states that one of the major factors hindering the growth of this market is high cost of implementation and interoperability issues. Installing HEMS is highly expensive as it involves the use of many components such as sensors, displays, and software, which are interconnected to save energy consumption. This makes many homeowners reluctant to invest in these systems, as they do not find HEMS beneficial and the return on investment is perceived to be negligible. The premium pricing of the system and products hinders the adoption of HEMS among end-users. In addition, other expenses such as installation and maintenance costs are also high, which hinder the adoption of HEMS among many end-users.

Global Home Energy Management Systems Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

key players in the global home energy management systems market: Cisco Systems, Honeywell, Panasonic, and Schneider Electric.

Other Prominent Vendors in the market are: Allure Energy, C3 IoT, Capgemini, GE Appliances and Lighting, Hitachi, Intel, Johnson Controls, Liricco Technology, Siemens, SmartThings, and Toshiba.

Market driver
- Growing adoption of smart grid technologies

- For a full, detailed list, view our report

Market challenge
- High cost of implementation and interoperability issues
- For a full, detailed list, view our report

Market trend
- Growing demand for smart homes
- For a full, detailed list, view our report

Key questions answered in this report
- What will the market size be in 2021 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?

Spanning over 70 pages and 24 Exhibits "Global Home Energy Management Systems Market 2017 - 2021" report covers Executive summary, Scope of the report, Market research methodology, Introduction, Market landscape, Market segmentation by product, Geographical segmentation, Key leading countries, Decision framework, Drivers and challenges, Market trends, Vendor landscape, Key vendor analysis, Appendix.

For more information Visit at: http://www.marketresearchreports.com/technavio/global-home-energy-management-systems-market-2017-2021

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