Tuesday, May 10, 2011

Residential energy management market entering rapid growth phase, creating billions in revenue by 2015

Parks Associates forecasts 13% of U.S. households will have energy management network by 2015

Remote access and control via broadband are expanding opportunities for energy management systems and services, with lighting controls, programmable thermostats, and self-monitoring systems each exceeding $1 billion in U.S. revenues by 2015, Parks Associates forecasts. The international research firm’s report Residential Energy Management 2011: Trends and Opportunities projects 13% of U.S. households will have some type of energy management network by 2015.

These broadband-connected systems, combined with consumer interest in energy savings, will open opportunities outside the utility industry for manufacturers and service providers. One-third of consumers in broadband households find remote control of lights, appliances and thermostats via Web-enabled devices very appealing. Nearly 50% find email/text notification of smoke, fire, water, or gas leaks very appealing.

Key REM Revenue Categories

"The market for residential energy management (REM) solutions is entering a pervasive growth period characterized by the entrance of many more firms with a variety of solutions, growing consumer awareness and significantly increasing sales volumes over the next five years," said Bill Ablondi, director, home systems research, Parks Associates. "Engaging consumers is critical to success in this market. Companies such as ADT, Best Buy, GE, Intel, and Verizon have entered the market from several different entry points; all have the marketing clout to educate consumers about the benefits of REM solutions and drive market growth.”

Residential Energy Management 2011: Trends and Opportunities addresses the rapidly changing market dynamics surrounding the many different opportunities to provide REM solutions.

Parks Associates will address these key issues at the pre-event workshop Smart Energy: Keys to Compelling Consumer Value Propositions at CONNECTIONS™ on June 28. This workshop focuses on the factors that motivate consumers to adopt energy management solutions based on both Parks Associates’ consumer research and a panel of executives leading marketing efforts for their organizations’ solutions. For information, visit http://www.parksassociates.com, http://www.connectionsconference.com, or contact 972-490-1113, sales@parksassociates.com.

About Parks Associates: Parks Associates is an internationally recognized market research and consulting company specializing in emerging consumer technology products and services. Founded in 1986, Parks Associates creates research capital for companies ranging from Fortune 500 to small start-ups through market reports, primary studies, consumer research, custom research, workshops, executive conferences, and annual service subscriptions.

The company's expertise includes the Internet of Things (IoT), digital media and platforms, entertainment and gaming, home networks, Internet and television services, digital health, mobile applications and services, support services, consumer apps, advanced advertising, consumer electronics, energy management, and home control systems and security.

Each year, Parks Associates hosts industry webcasts, the CONNECTIONS™ Conference Series, Smart Energy Summit: Engaging the Consumer, and Connected Health Summit: Engaging Consumers.

http://www.parksassociates.com

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