Home Area Networks Will Represent a $1.1 Billion Market by 2020, Forecasts Pike Research
BOULDER, Colo.--(BUSINESS WIRE)-- Home area networks (HANs), which enable a variety of energy-saving applications and devices within the home, are seen by utilities and technology developers as a key element of the smart grid vision. While sales and deployments of HANs to date have been slower than expected, market drivers around energy efficiency and an increasing utilization of standards-based technologies will help fuel moderate growth in the HAN segment over the next eight years. According to a recent report from Pike Research, a part of Navigant's Energy Practice, annual worldwide revenue from home area networks will grow from $127 million in 2012 to $1.1 billion in 2020.
"Utilities and home energy management service providers have long expected that increasing smart meter deployments will drive adoption of home area networks," says senior research analyst Neil Strother. "Motivating consumers to use less energy via new technology, though, can be a difficult sell. Vendors of HAN products should take a realistic approach to this nascent market, emphasizing the potential for consumers to save money on their electric bills."
Energy-focused HANs fall into two main categories: in-home displays, which can show meter-based consumption data, time-of-use pricing signals, and billing information; and networked home energy management (HEM) systems, which combine the HAN with hardware that has auto-pricing response capabilities, demand response load control, and home automation controls. In-home displays will generate greater revenue than networked HEM, according to the report, because of lower prices and larger volumes.
The report, "Home Area Networks", examines the global market opportunity for HANs, exploring the drivers and inhibitors that are shaping the market along with major technology issues. The study also provides market forecasts through 2020 for HAN device shipments and associated revenue. Key vendor profiles, analysis of new market players, and case studies are included as well. An Executive Summary of the report is available for free download on the Pike Research website.
About Pike Research
Pike Research, which joined Navigant's global Energy Practice on July 1, 2012, provides in-depth analysis of global clean technology markets. The team's research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Smart Energy, Smart Utilities, Smart Transportation, Smart Industry, and Smart Buildings sectors. Additional information about Pike Research can be found at www.navigant.com/pikeresearch.
Navigant (NYS: NCI) is a specialized, global expert services firm dedicated to assisting clients in creating and protecting value in the face of critical business risks and opportunities. Through senior level engagement with clients, Navigant professionals combine technical expertise in Disputes and Investigations, Economics, Financial Advisory and Management Consulting, with business pragmatism in the highly regulated Construction, Energy, Financial Services and Healthcare industries to support clients in addressing their most critical business needs. More information about Navigant can be found at www.navigant.com.
* The information contained in this press release concerning the report, "Home Area Networks," is a summary and reflects Pike Research's current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report's conclusions and the methodologies used to create the report. Neither Pike Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.
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