Global Home Energy Management Systems and Building Energy Management Systems Market 2019-2025: Energy Efficiency Legislation, Customer Awareness, and Commitment to Sustainability - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Oct 14, 2019--
The “Global Home Energy Management Systems (HEMS) and Building Energy Management Systems (BEMS) Market, Forecast to 2025” report has been added to ResearchAndMarkets.com’s offering.
The BEMS market has witnessed high growth in 2018 and has earned a revenue of $3,950.4 million, having grown by 9.1% from 2017. The HEMS market witnessed accelerated growth in 2018 and has earned a revenue of $1,772.0 million, having grown by 21.0% from 2017.
The Home Energy Management Systems (HEMS) and Building Energy Management Systems (BEMS) market is dynamic and poised for accelerated growth for the next 7 years. BEMS is primarily driven by the trend of high peak demand charges, customers’ commitment towards sustainability, energy efficiency legislation, state incentives for buildings to install energy management systems, the increasing energy performance contracts market, and increasing customer awareness about BEMS and increasing penetration of building IoT. HEMS is a technology platform that monitors, manages, and controls home functions, such as HVAC, lighting, solar PV, and other appliances in a residential building.
The concept of HEMS has evolved over the last few years, where the focus has changed from being a simple HEMS deployed by utilities to a valuable component that is now a part of smart homes. The driving factors of HEMS are quite similar to the BEMS market, but some of the key driving factors that were identified unique to HEMS include the increasing trend of electricity prices, the lack of commitment from utilities, the increasing demand for distributed energy generation, and the increasing know-how about HEMS among customers.
The report has segmented the overall market into HEMS and BEMS, based on solutions offered by participants such as hardware, software, and services, and also based on end-user verticals such as commercial, industrial, healthcare, education, and others. The geographies covered in the research are North America, Europe, Asia-Pacific, and Rest of World.
The scope of this study covers hardware, software, and services for BEMS and only hardware and software for HEMS. BEMS hardware includes controllers that control field-level devices and gateways that interface with the management layer. BEMS software includes dashboard applications and cloud-based optimization software. BEMS services include software implementation and software maintenance and support. HEMS hardware includes hub device/gateways, smart plugs, and smart clamps. HEMS software includes mobile and dashboard applications. The study does not include field-level devices such as sensors and actuators.
Key Issues Addressed
Key Topics Covered:
Drivers and Restraints - Total HEMS and BEMS Market
Forecasts and Trends - Total HEMS and BEMS Market
Market Share and Competitive Analysis - Total HEMS and BEMS Market
Growth Opportunities and Companies to Action
HEMS Segment Analysis
BEMS Segment Analysis
North America Analysis
Rest of World Analysis
For more information about this report visit https://www.researchandmarkets.com/r/gv89xo
View source version on businesswire.com:https://www.businesswire.com/news/home/20191014005527/en/
Laura Wood, Senior Press Manager
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
INDUSTRY KEYWORD: ENERGY OTHER ENERGY OTHER MANUFACTURING MANUFACTURING
SOURCE: Research and Markets
Copyright Business Wire 2019.
PUB: 10/14/2019 12:06 PM/DISC: 10/14/2019 12:06 PM