Energy Management Services: Report and Market Forecast 2014-2022
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Energy Management: How Techo-Fetishism Unraveled the HEM Market and How Services Will Mend It
We anticipate that the HEM market spending potential in North America via the dominant delivery channels will reach an annual value of $2.2 billion in 2022 and a cumulative market value of $15 billion in the 8 years forecasted, beginning in 2015.
Our expectations for the future of the HEM market represent a radical departure from this classic model – rather than relying on people to adopt gadgets and new habits, we see a more natural progression in the delivery of HEM services via channels to the home that customers already use and trust.
Format: PDF
Length: 29 pages
Authors: Bryan Jungers and Carol L. Stimmel
© 2014 Manifest Mind, LLC
We anticipate that the HEM market spending potential in North America via the dominant delivery channels will reach an annual value of $2.2 billion in 2022 and a cumulative market value of $15 billion in the 8 years forecasted, beginning in 2015.
Our expectations for the future of the HEM market represent a radical departure from this classic model – rather than relying on people to adopt gadgets and new habits, we see a more natural progression in the delivery of HEM services via channels to the home that customers already use and trust.
Format: PDF
Length: 29 pages
Authors: Bryan Jungers and Carol L. Stimmel
© 2014 Manifest Mind, LLC
Summary
Over the last decade, many analysts have continued to produce myriad Home Energy Management (HEM) market forecasts, yet they have largely failed to materialize. This is because there has been a widespread belief among industry thought leaders that with enough education, proof, and insight of the negative impacts of energy wastage on the environment and the consumer wallet and information about how to change it, that home energy management technologies would simply take hold. This has been as effective as feeding cauliflower to a child who doesn’t like vegetables. The reason that these models have not risen to the level of expected buoyancy is a poor recognition of the emerging role of the service sector that increasingly drives the North American consumer purchasing decisions, including technology for the home.
Our expectations for the future of the HEM market represent a radical departure from this classic model – rather than relying on people to adopt gadgets and new habits, we see a more natural progression in the delivery of HEM services via channels to the home that customers already use and trust.
What you think of as HEM today is simply not the HEM of tomorrow. By the end of this brief, if we are successful, when you think about home energy management, you will clearly realize that the opportunities in this market are emerging from an understanding that long-term value is not derived from device shipments, but from the utilization of energy-management services.
The team at Manifest Mind has performed a novel and rigorous evaluation of the role energy management will play in the overall push towards home management going forward. Our fundamental re-casting of the HEM market encompasses new boundaries that reject a segmentation of the market based on the devices, networks, and systems traditionally included under the definition of HEM, with a shift in perspective towards the effects of the service economy. Taking such a viewpoint on the smart home market shows that while a HEM system may incorporate dozens of networked devices per home to provide entertainment, security, lighting, comfort control, and other services through independent functionality and collective interoperability within the smart-home ecosystem, it’s the management of optimally-orchestrated home performance for comfort, enjoyment, security, and energy efficiency through services that is driving this market and reflects the true nature of the opportunity. To quantify this, we model the controls layer of the HEM market that actually delivers smart-home performance via existing service channels, including new home construction, home security, home entertainment, home utilities, and DIY home upgrades.
Forecasts details HEM market spending potential in North America via the dominant delivery channels will reach an annual value of $2.2 billion in 2022 and a cumulative market value of $15 billion in the 8 years forecasted, beginning in 2015, based on a shift from one market scenario to another, we have leveraged a normal baseline from the existing work in the field and driven our model from a familiar point-of-view. However, we strongly assert that a continuing perspective of techno-fetishism will result in missed opportunities for market offerings that provide the value that consumers are actually seeking within the context of services.
Our expectations for the future of the HEM market represent a radical departure from this classic model – rather than relying on people to adopt gadgets and new habits, we see a more natural progression in the delivery of HEM services via channels to the home that customers already use and trust.
What you think of as HEM today is simply not the HEM of tomorrow. By the end of this brief, if we are successful, when you think about home energy management, you will clearly realize that the opportunities in this market are emerging from an understanding that long-term value is not derived from device shipments, but from the utilization of energy-management services.
The team at Manifest Mind has performed a novel and rigorous evaluation of the role energy management will play in the overall push towards home management going forward. Our fundamental re-casting of the HEM market encompasses new boundaries that reject a segmentation of the market based on the devices, networks, and systems traditionally included under the definition of HEM, with a shift in perspective towards the effects of the service economy. Taking such a viewpoint on the smart home market shows that while a HEM system may incorporate dozens of networked devices per home to provide entertainment, security, lighting, comfort control, and other services through independent functionality and collective interoperability within the smart-home ecosystem, it’s the management of optimally-orchestrated home performance for comfort, enjoyment, security, and energy efficiency through services that is driving this market and reflects the true nature of the opportunity. To quantify this, we model the controls layer of the HEM market that actually delivers smart-home performance via existing service channels, including new home construction, home security, home entertainment, home utilities, and DIY home upgrades.
Forecasts details HEM market spending potential in North America via the dominant delivery channels will reach an annual value of $2.2 billion in 2022 and a cumulative market value of $15 billion in the 8 years forecasted, beginning in 2015, based on a shift from one market scenario to another, we have leveraged a normal baseline from the existing work in the field and driven our model from a familiar point-of-view. However, we strongly assert that a continuing perspective of techno-fetishism will result in missed opportunities for market offerings that provide the value that consumers are actually seeking within the context of services.