One of the major drivers of the global home energy management systems market is that it helps its users to
efficiently manage and monitor their energy consumption. It also allows them to control
activation/deactivation of appliances and collect real-time electricity consumption data. Additionally, it
generates optimal consumption schedules by considering energy cost, load profiles, consumer comfort and
environmental concerns. On the other hand, high cost and complex behavior of these energy management
systems is one of the major market restraints. Furthermore, the future of the home energy management
system industry largely depends on the market awareness about the importance of energy conservation.
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Global home energy management system market gained boost when Google acquired Nest Labs in January
2014 to make its mark in smart home. Additionally, Honeywell announced its Lyric smart thermostat with geo-
fencing that automatically auto-adjusts thermostat settings. Retailers have been promoting their products
with energy management solutions.
In order to increase awareness about energy conservation the manufacturers across the globe have started
variable pricing scheme due to which demand has increased in regions such as Middle East, Africa and Asia-
Pacific. On the basis of geographies the global home energy management systems market can be categorized
into North America, Europe, Latin America, Asia-Pacific and Rest of the World.
Companies Profiled:
AlertMe
AT&T
Honeywell International Inc.
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