London, 24 September 2014: TechNavio, the independent tech-focused global research firm, has published a report on the Global Home Energy Management System (HEMS) Market 2014-2018, which is expected to grow at a CAGR of 26.7 percent during the forecast period of 2014-2018.
HEMS allow homeowners to monitor and reduce the energy consumption of electrical and electronic devices at home and conserve energy. With the help of HEMS, energy consumption can be easily monitored by cellphones, tablets, or other communication devices. They help in power management by tracking the real-time energy consumption of electronic devices and comparing it with historical data. It aims to improve the communication between the tool and the consumer.
“The emergence of smart grids facilitates the growth of several technologies, which include those deployed in the Global HEMS market,” says Faisal Ghaus, Vice President of TechNavio.
“Smart grid solutions for managing data include smart grid applications such as smart meters, supervisory control and data acquisition systems, HANs, and IT networks.”
Key Market Drivers
- Increased Need for Saving Energy
- Construction of Smart Grids
- Need to Optimize Energy Consumption
- Demand for Increased Comfort Levels
Key Market Trends
- Increased Usage of Computer-based Systems in Residential Sector
- Development of User-friendly Programming Platforms
- Growth of Global Economy
Key Market Vendors
- AlertMe.com Ltd.
- Cisco Systems Inc.
- Freescale Semiconductor Inc.
- GE Co.
- Honeywell International Inc.
- Intel Corp.
- Panasonic Corp.
- Schneider Electric SA
To define the market circumstances in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3E%C2%A0%3C/p%3E%3Cp%3EIf%20you%20are%20in…
