Global market for home energy management systems and smart homes to reach USD 121.73 Billion by 2022
The global market for home energy management systems and smart homes to reach USD 121.73 Billion by 2022, the latest report from Research and Markets, “Smart Home Market by Product, Software & Service, and Geography – Global Forecast to 2022” has been able to suggest.
Home Energy Management Systems for Smart Homes
The global market for home energy management systems and automation solutions is forecast to be worth USD 121.73 Billion by 2022, growing at a CAGR of 14.07% between 2016 and 2022. The growth of this particular market segment is attributed to factors such as significant advancements in the IoT market; increasing need of the consumer for convenience, safety and security; rising need for energy saving and low carbon emission-oriented solutions; and large number of manufacturers expanding their product portfolios.
Lighting control, security & access control, HVAC control, entertainment & other controls, home healthcare, and smart kitchen are the different hardware products used in the smart home market. The advancements in wireless communication technologies is a major factor boosting the growth of the home theater system controls market, thereby driving the overall smart home market for entertainment control.
HeatingSave – the perfect home energy management and automation solution
The best solution for reducing and thoroughly managing energy bills is the implementation of a solid and reliable Building Energy Management system.
Building Energy Management Systems are capable of delivering extensive monitoring and control options, compared to basic controls. They typically employ data from a variety of sources (boiler flow and return sensors, internal and external temperature sensors, occupancy sensors, humidity sensors, etc.), and enable the perfect optimization of a building’s boiler-based central heating system.
If you’d like to find out more about the savings enabled by the HeatingSave Building Energy Management System, just contact our dedicated product team, they’ll be more than happy to answer all of your questions and queries.