Frost & Sullivan Projects Smart Technology to Fuel Double-digit Growth in European HEMS and BEMS Markets

Frost & Sullivan Projects Smart Technology to Fuel Double- digit Growth in European HEMS and BEMS Markets PR Newswire LONDON, Oct. 24, 2012 -- Improving technology and the push for greater energy efficiency to energise uptake levels LONDON, Oct. 24, 2012 /PRNewswire/ -- The home and building energy management systems (HEMS/BEMS) markets face push factors, such as EU Directives that support smart technology in energy monitoring and management, as well as pull factors from the demand side as technology improves and becomes more easily available. Together with rising prices of energy, these two factors will lead the HEMS and BEMS market to double-digit growth over this decade. New analysis from Frost & Sullivan (http://www.buildingtechnologies.frost.com) Energy Management Opportunities: European HEMS and BEMS Markets, finds that the markets earned revenues of $1,055.8 million in 2011 and estimates this to reach $3,001.2 billion by 2018. "The HEMS and BEMS market will grow as a result of the implementation of the Energy Efficiency Directive and the Energy Performance of Buildings Directive," noted Frost & Sullivan Industry Analyst Hammam Ahmed. "These measures will promote the adoption of smart technology in energy management, but much depends on each country's implementation efforts." The HEMS market appears to be evolving; from only monitoring devices it now offers smarter devices that integrate home systems and manage energy consumption across multiple systems.