Everyone these days, it seems, wants a piece of the home energy management system (HEMS) market, and for good reason: With a compound annual growth rate of nearly 13 percent since 2006, the global market for HEMS products is expected to reach $85 billion by 2015. That’s the word from SBI Energy, which recently published a report indicating that the landscape for HEMS product development will continue to flourish through 2020.
HEMS products – like those we’ve written about from Blue Line Innovations – offer homeowners the opportunity to increase energy efficiency at home with an automated approach to reduced heating and cooling and electricity bills (while also offering a boon to utilities by decreasing loads).
The most commonplace such system is your basic programmable thermostat; the most sophisticated systems offer homeowners at-a-glance energy usage information, allowing users to pick from various automated energy use reduction programs, and even offering remote control of heating, cooling, lighting and appliances.
SBI Energy estimates current total spending around the world on all HEMS products at $54 billion, with much of that spending associated with integrated communications products, a sector that will benefit from more than $16 billion in sales in 2011, reaching $29.2 billion in 2015. (These integrated communications products allow for wireless transfer of energy usage information at home to various forms of Web-based interfaces, as well as to and from the smart grid.)
The full text of the SBI report is available for purchase for $4,950.00.