|By PR Newswire||
|October 24, 2012 02:00 AM EDT||
-- Improving technology and the push for greater energy efficiency to energise uptake levels
LONDON, Oct. 24, 2012 /PRNewswire/ -- The home and building energy management systems (HEMS/BEMS) markets face push factors, such as EU Directives that support smart technology in energy monitoring and management, as well as pull factors from the demand side as technology improves and becomes more easily available. Together with rising prices of energy, these two factors will lead the HEMS and BEMS market to double-digit growth over this decade.
New analysis from Frost & Sullivan (http://www.buildingtechnologies.frost.com) Energy Management Opportunities: European HEMS and BEMS Markets, finds that the markets earned revenues of $1,055.8 million in 2011 and estimates this to reach $3,001.2 billion by 2018.
"The HEMS and BEMS market will grow as a result of the implementation of the Energy Efficiency Directive and the Energy Performance of Buildings Directive," noted Frost & Sullivan Industry Analyst Hammam Ahmed. "These measures will promote the adoption of smart technology in energy management, but much depends on each country's implementation efforts."
The HEMS market appears to be evolving; from only monitoring devices it now offers smarter devices that integrate home systems and manage energy consumption across multiple systems. Driven by utilities in countries like the United Kingdom, the market shows a lot of potential for growth as penetration is still limited. The BEMS market will be driven by offering solutions that are more economical than automation systems to achieve energy savings.
While HEMS vendors can face competition from in-home displays on the lower end of the market and home automation systems on the upper end of the market, BEMS will be affected by the growing presence of building automation systems.
"For many homes, unless the HEMS can offer assured savings in energy exceeding what a simpler monitoring system can do, the choice for individuals may be driven by price," explained Ahmed. "In buildings and high-end residential projects, building automation and home automation solutions may be more effective for reducing operational expenditure and facilitating building management. As a result, the prospects of exclusive energy management solutions may be threatened."
Improvements in technology and appropriate pricing can be key factors in overcoming this challenge. Additionally, the increasing emphasis on energy efficiency and savings will help open up market opportunities.
"Expanding interest and awareness in the HEMS and BEMS markets is important to tapping the market's growth potential," advised Ahmed. "The role of utilities in this aspect is an advantage to the HEMS market, even while the effective implementation of EU Directives will lay the foundation for strong overall market growth."
If you are interested in more information on this study, please send an e-mail with your contact details to Chiara Carella, Corporate Communications, at email@example.com.
Energy Management Opportunities: European HEMS and BEMS Markets is part of the Building Management Technologies Growth Partnership Service programme, which also includes research in the following markets: Analysis of the North American Energy Management Services Market, Home Energy Management Systems Market in Japan, The European Home Energy Monitoring Market and European Building Automation Systems Market. All research included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.
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Energy Management Opportunities: European HEMS and BEMS Markets
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