Extending REM to these advanced devices is important because their ownership is a significant indicator when segmenting consumer interest in energy monitoring services. Parks Associates’ 2011 consumer studies found smartphone owners are substantially more interested than non-owners in energy monitoring services. Their significantly higher interest levels sustain even when presented with a hypothetical monitoring service costing $10 extra per month.
U.S. broadband households subscribing to security monitoring services also show higher interest compared to non-subscribers. These findings underscore the need to bundle REM with complementary service packages and extend the service to emerging devices in the digital home.
Given the players entering the market ready to undertake these strategies, combined with the strong demand from consumers, Parks Associates forecasts rapid growth in the REM market over the next few years. The percentage of U.S. households with some form of energy management network will rise from 2% in 2011 to 13% by 2015.
Over the next five years, the REM market will include more entrants with new technology solutions, growing consumer awareness of benefits and value, and significant growth in sales volumes.
