Insights on the Home Energy Management Systems Global Market to 2027 – by Product Type, Communication Technology, Software & Service and Region – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Home Energy Management Systems Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” report has been added to ResearchAndMarkets.com’s offering.

The global home energy management systems market reached a value of US$ 2.1 Billion in 2021. Looking forward, the publisher expects the market to reach US$ 6 Billion by 2027, exhibiting a CAGR of 16.5% during 2022-2027.

Companies Mentioned

• Honeywell International, Inc.
• Nest Labs, Inc.
• Vivint, Inc.
• General Electric Company
• Ecobee, Inc.
• Alarm.Com
• Comcast Cable (Xfinity)
• Panasonic Corporation
• Ecofactor, Inc.
• Energyhub, Inc.

Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.

Home energy management system is a smart electronic device that is used to manage the consumption of energy in households. This device enables the homeowners to efficiently monitor their energy requirements and to get an individual appliance’s electricity consumption pattern and power consumption data. The hardware part of the system includes a hub which can be mounted on an electrical board. The hub mediates between the software and the user, and can be operated virtually through a wireless device. It can also be connected to other smart devices at home. The software part of the system allows the user to monitor and customize the usage. It can be accessed through apps and web portals. The HEMS interface can be specific to the effectiveness of the performance of the system or it can be dedicated to the mobility of the device. Some of the basic functions of the device include monitoring the usage of electricity, management of backup with the help of battery storage, and efficient use of solar energy.

Catalyzed by rising awareness among consumers towards the sustainable use of energy resources, a strong growth has been witnessed in the demand of energy-efficient appliances and home energy management systems. Consumers are realizing that these systems are not only helping in reducing energy expenses, but are also playing a major part in making the available energy resources more sustainable. Other major factor driving the home energy management systems market include rising penetration of the internet across both developed and developing economies, increasing role of Internet of Things (IoT) and Big Data in energy management, growing market for smart homes, etc.

Key Questions Answered in this Report

1. What is the size of the global home energy management system market?

2. What are the key factors driving the global home energy management system market?

3. What has been the impact of COVID-19 on the global home energy management system market?

4. What is the breakup of the global home energy management system market based on the product type?

5. What are the key regions in the global home energy management system market?

6. Who are the key companies/players in the global home energy management system market?

Key Topics Covered:

1 Preface

2 Scope and Methodology

3 Executive Summary

4 Introduction

4.1 Overview

4.2 Key Industry Trends

5 Global Home Energy Management Systems Market

5.1 Market Overview

5.2 Market Performance

5.3 Impact of COVID-19

5.4 Market Breakup by Product Type

5.5 Market Breakup by Communication Technology

5.6 Market Breakup by Software & Service

5.7 Market Breakup by Region

5.8 Market Forecast

5.9 SWOT Analysis

5.9.1 Overview

5.9.2 Strengths

5.9.3 Weaknesses

5.9.4 Opportunities

5.9.5 Threats

5.10 Value Chain Analysis

5.11 Porters Five Forces Analysis

5.11.1 Overview

5.11.2 Bargaining Power of Buyers

5.11.3 Bargaining Power of Suppliers

5.11.4 Degree of Competition

5.11.5 Threat of New Entrants

5.11.6 Threat of Substitutes

6 Market Breakup by Product Type

7 Market Breakup by Communication Technology

8 Market Breakup by Software & Service

9 Market Breakup by Region

10 Competitive Landscape

10.1 Market Structure

10.2 Key Players

10.3 Profiles of Key Players

For more information about this report visit https://www.researchandmarkets.com/r/a1r5ty

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