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A Measurement System to Spark Companies 2 Action (C2A)—Innovation That Fuels New Deal Flow and Growth Pipelines
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Home energy management systems (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 HEMS market is expected to grow at an accelerated rate for the next 7 years. 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 part of smart homes. The driving factors of HEMS are quite similar to the BEMS market, but some of the key driving factors that we 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 technologies that take the home and building technologies industry to the next phase of evolution—such as artificial intelligence and the explosion of Internet of Things (IoT)-enabled devices, data analytics, edge analytics, cloud solutions, and business model innovation—have had a positive impact on the HEMS market as well. This market is swarmed by start-ups and emerging participants and the influence of incumbents has lessened. Some of these start-ups are changing the market dynamics by adopting cutting-edge technologies in their products. Frost & Sullivan estimates the HEMS market will reach $7,656.1 million and grow at a CAGR of 23.3% until 2025.For this research, Frost & Sullivan has used a unique and robust platform called Frost Radar to analyze the market and identify Companies 2 Action (C2A). We have analyzed more than 75 companies that fall into the Frost & Sullivan’s definition of HEMS and narrowed this to 24 companies based on their growth indicators and recent innovations. Frost & Sullivan has evaluated and positioned these 24 companies based on 2 major indices, Growth and Innovation, and each index has 5 criteria. The companies are positioned on a radar format under 4 sections: Visionaries, Disruptors, Agitators, and Contenders. Companies that are positioned in the radar are:Belkin, British Gas, D-Link, Ecofactor, Curb, Efergy, Eliq, Fibaro, Green Energy Options, Greenwave Systems, Honeywell, IDevices, Navetas, Neurio, ONZO, Smappee, Panasonic, Sense, Tendril, Tp-Link, Ubiquiti Networks, Verv, Watty, and Xiaomi. The Frost Radar reveals the market positioning of companies in an industry using their Growth and Innovation scores as highlighted in the Frost Radar methodology. The document presents competitive profiles on each of the companies in the Frost Radar based on their strengths, opportunities, and a small discussion on their positioning. Frost & Sullivan analyzes hundreds of companies in the industry and benchmarks them across 10 criteria on the Frost Radar, where the leading companies in the industry are then positioned. Industry leaders on both the Growth and Innovation indices are recognized as best practice recipients.
Key Issues Addressed
Author: Anirudh Bhaskaran
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smart grid market
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