Home Energy Management Systems (HEMS) Market Size - The rise of Home Energy Management systems and their advantages

As home energy management systems (HEMS) enter the mainstream households, new firms with competitive offerings keep emerging. One such service is Smappee which is designed to help consumers reduce unnecessary energy consumption. The system was very recently launched in the United States. The product works independently of any utility company to deliver actionable insights with the goal to save money and reduce excessive energy usage.

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It was brought to light not long ago by the energy information (EIA) department of US that appliance, electronics and lighting account for more than one-third of home energy use. However, most American families are not unaware of their own energy use and expenditure. Services such as Smappee, gathers real-time information regarding energy use through a sensor that attaches to a user's main power line. Through this sensor, these systems are able to gather accurate information about how much energy is consumed by various appliances around the house and their equivalent cost. Most such systems also have accompanying mobile apps, which allows home monitoring on the go. Until now, Americans have primarily relied on end-of-month billing that includes a retroactive summary of energy usage with little additional detail. HEMS offer a smart and objective alternative to the status quo. Most such systems offer thousands of measurements per second, analyzing individual devices rather than only providing a summary of the total energy entering and exiting the grid. The data brought forward by such systems are quantifiable, real-time, appliance specific. Furthermore, such HEMS systems also offer home security which is derived from any unwanted changes on the electricity can act as a signal. This can also act as an assuring factor that family members have arrived home safely or alerting them of the presence of intruders as any new activity in the home is notified to the user. Home Energy Management Systems Market Size Source: Deep Research Report