Explore more Categories
Artificial Intelligence involves the science and engineering of developing intelligent machines
The manufacturing world is at a cusp of a new revolution that will redefine conventional business models
IoT will have a major impact on businesses and consumers in the future
The world is creating 2.5 exabytes of data daily
Our research seeks to connect-the-dots across multiple trends
Personal Robots are Set to Be a $19 Billion Market
Strategic Analysis of BREXIT and its Implications to Industries, Economies and Societies
iFrost is a digital platform for interactive and dynamic reporting of data.
The TOEs are a great source of information which gives corporates critical information on companies to action for their strategic investments either as an open source platform or to collaborate and to develop successful products
Energy Efficiency Legislation, Customer Awareness, and Commitment to Sustainability are Crucial for Accelerated Market Growth
* Required Fields
Pay by invoice
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 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.Frost & Sullivan 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 optimisation 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.Johnson Controls, Honeywell, Siemens, and Schneider Electric are the leading companies offering BEMS solutions. Lucid, BuildingIQ, EcoEnergy Insights, Switch Automation, Daikin Applied, Enel X, Engie Insight, GridPoint, Current by GE, Ecolibrium Energy, Wegowise, Verdigris are some of the emerging companies offering BEMS. HEMS participants include Honeywell, Green Energy Options, Greenwave Systems, Tendril, Panasonic, British Gas, Xiaomi, D-Link, TP-Link, Sense, Verv, Neurio, Ecoisme, Curb, Belkin, Fibaro, and so on. Frost & Sullivan has identified key growth opportunities, such as IoT-enabled building systems, data analytics and cloud, secured open-source platforms, and customer-centric models, for participants to explore and stay ahead in the competition.
Key Issues Addressed
Author: Anirudh Bhaskaran
The Future of Facility Management (FM), Forecast to 2025
Analysis of Indian Air Management (Cooling) Solutions Market, Forecast to FY2026
KSA Facilities Management Market, Forecast to 2025
Growth Opportunities in the Asia-Pacific Facilities Management Market, Forecast to 2023
European Building Automation Systems (BAS) Market, Forecast to 2025
FM Boom in Southeast Asia—Focus on the Vietnamese Market, Forecast to 2023
Air Conditioner Market in ASEAN-6, Forecast to 2023
Southeast Asian LED Lighting Market, Forecast to 2023
Global Smart Thermostats Market, Forecast to 2025
Growth Opportunities in the UK Facility Management Market, Forecast to 2025
smart wearables market
virtual reality market
cardiovascular devices market
artificial lift market
glucose monitoring devices market
well intervention market
power electronics market
Don't have an account? Create One!
Enter your Email Address here to receive a link to change password.
If you are an existing frost.com user, please register using the same email for seamless access
Already have an account? Login!
Use your Linkedin account to login or register within our store.You're just one click away.