BIG BUCKS IN MANAGING ENERGY AT HOME

Despite Slow Start, Home Energy Management Market Will Surpass $2 Billion in Annual Revenue by 2020

May 16, 2012 (Pike Research)

“…[T]he once hyped home energy management (HEM) market has struggled to gain traction. Numerous trials have led to only a few cases of industry deployments and to anemic rates of consumer adoption. Today that is starting to change, and over the remainder of the decade momentum will build in this nascent market…

“…According to a new report from Pike Research, global annual shipments of standalone HEM systems will grow from a quarter million in 2011 to nearly 4.7 million in 2020, with a compound annual growth rate (CAGR) of 38.3%. Combined revenue for all HEM segments will grow from a base of $93 million in 2011 to more than $2 billion in 2020…”

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“HEM 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 HEM systems, which include some device-level tracking and automated device control capabilities, up to networked HEM, comprising auto-pricing response capabilities, demand response (DR) load control, and home automation controls…

“…Of these, networked-HEM revenue will see the strongest growth (76.8% CAGR), as utilities attempt to drive volume sales of networked HEM systems in order to make DR and time-of-use pricing schemes feasible…”

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