Home energy management systems (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 HEMS market is expected to grow at an accelerated rate for the next 7 years. 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 part of smart homes. The driving factors of HEMS are quite similar to the BEMS market, but some of the key driving factors that we 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 technologies that take the home and building technologies industry to the next phase of evolution—such as artificial intelligence and the explosion of Internet of Things (IoT)-enabled devices, data analytics, edge analytics, cloud solutions, and business model innovation—have had a positive impact on the HEMS market as well. This market is swarmed by start-ups and emerging participants and the influence of incumbents has lessened. Some of these start-ups are changing the market dynamics by adopting cutting-edge technologies in their products. Frost & Sullivan estimates the HEMS market will reach $7,656.1 million and grow at a CAGR of 23.3% until 2025.
For this research, Frost & Sullivan has used a unique and robust platform called Frost Radar to analyze the market and identify Companies 2 Action (C2A). We have analyzed more than 75 companies that fall into the Frost & Sullivan’s definition of HEMS and narrowed this to 24 companies based on their growth indicators and recent innovations. Frost & Sullivan has evaluated and positioned these 24 companies based on 2 major indices, Growth and Innovation, and each index has 5 criteria. The companies are positioned on a radar format under 4 sections: Visionaries, Disruptors, Agitators, and Contenders.
Companies that are positioned in the radar are:
Belkin, British Gas, D-Link, Ecofactor, Curb, Efergy, Eliq, Fibaro, Green Energy Options, Greenwave Systems, Honeywell, IDevices, Navetas, Neurio, ONZO, Smappee, Panasonic, Sense, Tendril, Tp-Link, Ubiquiti Networks, Verv, Watty, and Xiaomi.
The Frost Radar reveals the market positioning of companies in an industry using their Growth and Innovation scores as highlighted in the Frost Radar methodology. The document presents competitive profiles on each of the companies in the Frost Radar based on their strengths, opportunities, and a small discussion on their positioning. Frost & Sullivan analyzes hundreds of companies in the industry and benchmarks them across 10 criteria on the Frost Radar, where the leading companies in the industry are then positioned. Industry leaders on both the Growth and Innovation indices are recognized as best practice recipients.
Key Issues Addressed
- Who are the Visionaries, Disruptors, Agitators, and Contenders?
- What are their innovative offerings?
- What are their strengths and opportunities for the future?
- At what rate is each company growing?
- What is the rationale behind their position in the radar?
Author: Anirudh Bhaskaran
Industry Overview
The Frost Radar
Frost Radar—Description of Companies Plotted
Frost Radar—Description of Companies Plotted (continued)
Frost Radar—Description of Companies Plotted (continued)
Frost Radar—Description of Companies Plotted (continued)
Belkin International
British Gas
D-Link
Ecofactor
Energy Curb
Efergy
Eliq
Fibar Group
Green Energy Options (GEO)
Greenwave Systems
Honeywell
iDevices
Navetas
Neurio
Onzo
Panasonic
Sense
Smappee
Tendril
TP-Link
Ubiquiti Networks
Verv
Watty
Xiaomi
The Last Word—Key Takeaways
Legal Disclaimer
Frost Radar—2 Major Indices, 10 Analytical Ingredients, 1 Platform
Frost Radar—2 Major Indices, 10 Analytical Ingredients, 1 Platform (continued)
Frost Radar—C2A
Frost Radar™: Benchmarking Future Growth Potential 2 Major Indices, 10 Analytical Ingredients, 1 Platform
Growth Index
Growth Index (GI) is a measure of a company’s growth performance and track record, along with its ability to develop and execute a fully aligned growth strategy and vision; a robust growth pipeline system; and effective market, competitor, and end-user focused sales and marketing strategies.
- Market Share (previous 3 years)
This is a comparison of a company’s market share relative to its competitors in a given market space for the previous 3 years. - Revenue Growth (previous 3 years)
This is a look at a company’s revenue growth rate for the previous 3 years in the market/industry/category that forms the context for the given Frost Radar™. - Growth Pipeline
This is an evaluation of the strength and leverage of a company’s growth pipeline system to continuously capture, analyze, and prioritize its universe of growth opportunities. - Vision and Strategy
This is an assessment of how well a company’s growth strategy is aligned with its vision. Are the investments that a company is making in new products and markets consistent with the stated vision? - Sales and Marketing
This is a measure of the effectiveness of a company’s sales and marketing efforts in helping it drive demand and achieve its growth objectives.
Innovation Index
Innovation Index (II) is a measure of a company’s ability to develop products/ services/ solutions (with a clear understanding of disruptive Mega Trends) that are globally applicable, are able to evolve and expand to serve multiple markets and are aligned to customers’ changing needs.
- INNOVATION SCALABILITY
This determines whether an organization’s innovations are globally scalable and applicable in both developing and mature markets, and also in adjacent and non-adjacent industry verticals. - RESEARCH AND DEVELOPMENT
This is a measure of the efficacy of a company’s R&D strategy, as determined by the size of its R&D investment and how it feeds the innovation pipeline. - PRODUCT PORTFOLIO
This is a measure of a company’s product portfolio, focusing on the relative contribution of new products to its annual revenue. - MEGATRENDS LEVERAGE
This is an assessment of a company’s proactive leverage of evolving, long-term opportunities and new business models, as the foundation of its innovation pipeline. - CUSTOMER ALIGNMENT
This evaluates the applicability of a company’s products/services/solutions to current and potential customers, as well as how its innovation strategy is influenced by evolving customer needs.
Significance of Being on the Frost Radar™
Companies plotted on the Frost RadarTM are the leaders in the industry for growth, innovation, or both. They are instrumental in advancing the industry into the future.
- GROWTH POTENTIAL
Your organization has significant future growth potential, which makes it a Company to Action. - BEST PRACTICES
Your organization is well positioned to shape Growth Pipeline™ best practices in your industry. - COMPETITIVE INTENSITY
Your organization is one of the key drivers of competitive intensity in the growth environment. - CUSTOMER VALUE
Your organization has demonstrated the ability to significantly enhance its customer value proposition. - PARTNER POTENTIAL
Your organization is top of mind for customers, investors, value chain partners, and future talent as a significant value provider.
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A tailored session with you where we identify the:- Strategic Imperatives
- Growth Opportunities
- Best Practices
- Companies to Action
Impacting your company's future growth potential.
Key Issues Addressed
- Who are the Visionaries, Disruptors, Agitators, and Contenders?
- What are their innovative offerings?
- What are their strengths and opportunities for the future?
- At what rate is each company growing?
- What is the rationale behind their position in the radar?
Author: Anirudh Bhaskaran
| Deliverable Type | Frost Radar |
|---|---|
| No Index | No |
| Podcast | No |
| Author | Anirudh Bhaskaran |
| Industries | Environment |
| WIP Number | ME7A-01-00-00-00 |
| Is Prebook | No |
| GPS Codes | 9343-A4,9B07-C1,GETE |
Frost Radar in the Global Home Energy Management Systems (HEMS) Market
A Measurement System to Spark Companies 2 Action (C2A)—Innovation That Fuels New Deal Flow and Growth Pipelines
25-Mar-2019
North America
Frost Radar
