The global home energy management systems market is estimated to gain substantial popularity across the globe with the relentless improvement of the underlying technology. In addition, with the increasing feasibility of battery and small-scale solar power storage, the global home energy management systems market is likely to prosper in the years to come. Both software and hardware technologies comprise the entire technological platform of a home energy management system. These software and hardware tools enable user to supervise energy production and use so as to manually regulate its use within the household. The use of energy within a household could also be automated.
The global home energy management systems market is likely to grow at an accelerated pace in the forthcoming years. The concept of home energy management systems solutions has evolved over the years and it has become a valuable element of a household these days. Rise in the price of electricity together with augmented demand for generation of distributed energy is likely to shoot up the demand of this product.
Considering three different parameters, the global home energy management systems market has been split to offer deeper insight into the market. These parameters are component, technology, and region.
Global Home Energy Management Systems Market: Notable Developments
One of the recent market developments related to the global home energy management systems market is as mentioned below:
- In October 2016, Panasonic Corporation and Schneider Electric developed an integrated building management and HVAC equipment solution. This new development is likely to present a new level of energy efficiency and HVAC control in buildings. This integration enables building managers and owners to view their core building system comprising electrical and power distribution, HVAC equipment, security, and lighting from anywhere and at anytime through one single interface. This new development encourages use of home energy management systems solutions.
Some well-known organizations in the global Home Energy Management Systems market comprise the below-mentioned:
- Panasonic Corporation
- Honeywell International
- General Electric Company
- Comcast Cable Communications, LLC (Xfinity)
- Vivint, Inc.
- EcoFactor, Inc.
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