Home Energy Management Systems Market Will Reach $2 Billion By 2020: Grand View Research, Inc.

 

The global home energy management systems (HEMS) market is expected to exceed USD 2 billion by 2020, according to a new study by Grand View Research, Inc. Owing to increasing energy cost coupled with growing environmental concerns, energy management has emerged as a significant priority, which is expected to fuel the HEMS market. The need to conserve and optimize energy utilization is expected to serve as a key market driver. Increased connectivity and widespread adoption of smartphones is also expected to favorably impact the market growth. Energy management products demand has gained momentum over the last few years owing to use of variable pricing schemes offered by service providers. Favorable regulatory initiatives in the U.S. pertaining to energy conservation are expected to propel regional HEMS market growth.

High installation cost coupled with system complexity is expected to pose a challenge to market growth over the forecast period. Lack of consumer awareness regarding home energy management systems and the benefits they offer may also hinder the HEMS market. Technological proliferation along with decreased sensor and display costs, improved device-level information processing capability, and roll-out of smart utility meters provide avenues for market growth.

Browse full research report on Home Energy Management Systems Market: www.grandviewresearch.com/industry-analysis/smart-home-energy-management

Further key findings from the report suggest:

  • Wi-Fi emerged as the dominant segment in 2013; it is expected to continue accounting for considerable market share over the forecast period. ZigBee, a standard for wireless networks, is expected to be a high growth segment over the forecast period. This can be attributed to its ability to support needs of various utilities, government groups and product manufacturers.
  • The HEMS market is dominated by control devices and systems; these include thermostats, whole home lighting systems and home automation systems. Enabling technologies are expected to witness high growth over the next six years due to popularity of technologies such as home area network, ZigBee and sensing.
  • On account of favorable government initiatives and growing need to address issues related to aging infrastructure, North America is expected to emerge as the most dominant regional market over the forecast period. Smart meter mandates by utilities is primarily expected to drive the HEMS market in Europe.
  • Key market participants include Intel Corporation, Panasonic Corporation, Cisco Systems Inc, General Electric Co. and Honeywell International. Innovations and extensive product development are expected to be the key growth strategies over the forecast period.
  • include new product launches, acquisitions and mergers, and collaborations.

Browse more reports of this category by Grand View Research: www.grandviewresearch.com/industry/emerging-and-next-generation-technologies

Grand View Research has segmented the global HEMS market on the basis of technology, component and region:

HEMS Technology Outlook (Revenue, USD Million, 2012–2020)

  • Wi-Fi
  • ZigBee
  • Wireless M-Bus
  • HomePlug
  • Z-Wave
  • Others

HEMS Component Outlook (Revenue, USD Million, 2012–2020)

  • Enabling Technologies
  • User Interface
  • Control Devices

HEMS Regional Outlook (Revenue, USD Million, 2012–2020)

  • North America
  • Europe
  • Asia Pacific
  • RoW

Access Press Release By Grand View Research: www.grandviewresearch.com/press-release/global-smart-home-energy-management

About Grand View Research:

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For more information: www.grandviewresearch.com

 

Pharmerging Market Boosting Due To Increasing Healthcare Expenditure Till 2025: Grand View Research, Inc.

 

The global pharmerging market is expected to reach USD 2,231.9 billion by 2025, according to a new report by Grand View Research, Inc. This market is expected to grow due to increasing geriatric population, increasing disease burden of chronic disorders and increasing healthcare expenditure.

According to the United Nations (UN), the number of people above the age of 60 years are estimated to be 901 million in 2015. This number is expected to increase to 1.4 billion by 2030 and 2.1 billion by 2050. The increasing geriatric population boosts the demand for better treatment options for chronic diseases such as hyperlipidemia, hypertension, cancer, dementia, congestive heart failure. According to a study conducted by Deloitte in 2011, the geriatric population accounts for almost 23.0-40.0% of the prescription drug market, and 40.0-50.0% of the OTC drug market.

tier-i-healthcare-market.png

Another driving factor for the pharmerging market is increasing healthcare expenditure. The global healthcare spending is expected to increase from USD 7.83 trillion in 2013 to USD 18.28 trillion in 2040. It has also been estimated that there will an increase of 3.4%, 3.0%, 2.4% in healthcare expenditure in upper middle-level income countries, lower middle-level income countries and in low-income level countries respectively.

The increasing disease burden of chronic diseases in developing countries is boosting the growth in the market. According to the Global Health Observatory data, in 2015, 70.0% of the deaths were due to non-communicable diseases (NCD). The major NCDs are cardiovascular diseases (CVD) which caused 45.0% of all NCD deaths, cancer which caused 22.0% of all NCD deaths and chronic obstructive pulmonary disease (COPD) which causes 10.0% of all NCD deaths, and diabetes which caused 4.0% of all NCD deaths.

Browse full research report on Pharmerging Market: www.grandviewresearch.com/industry-analysis/pharmerging-market        

Further key findings from the report suggest:

  • Pharmaceutical segment was the major contributor for the pharmerging market in 2016.
  • Pharmaceutical sector also recorded the fastest growth in the pharmerging industry.
  • Tier I is driving growth in the pharmerging market.
  • India among the Tier II countries is estimated to witness the fastest growth in the pharmerging industry.
  • Brazil was recorded as the major contributor for Tier II countries.
  • Among Tier III countries, Nigeria and Indonesia are estimated to be driving growth.
  • The key players include Sanofi, Pfizer Inc., AstraZeneca, GlaxoSmithKline, F.Hoffmann-La Roche, GE Healthcare, Eli Lilly, Medtronic, Johnson and Johnson, Abbott.
  • The key strategic initiatives include new product launches, acquisitions and mergers, and collaborations.

Browse more reports of this category by Grand View Research: www.grandviewresearch.com/industry/healthcare                                   

Grand View Research has segmented the pharmerging market by product, and region:

Pharmerging Regional Outlook (Revenue, USD Billion; 2014 – 2025)

  • Tier I
    • China
  • Tier II
    • India
    • Brazil
    • Russia
    • South Africa
  • Tier III
    • Argentina
    • Mexico
    • Poland
    • Ukraine
    • Turkey
    • Saudi Arabia
    • Egypt
    • Algeria
    • Nigeria
    • Thailand
    • Indonesia
    • Pakistan
    • Saudi Arabia

Pharmerging Product Outlook (Revenue, USD Billion; 2014 – 2025)

  • Pharmaceutical
    • Patented prescription drugs
    • Generic prescription drug
    • OTC drugs
  • Other healthcare verticals
    • Medical device
    • Clinical diagnostics
    • Other

Access Press Release By Grand View Research: www.grandviewresearch.com/press-release/global-pharmerging-market                                     

About Grand View Research:

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For more information: www.grandviewresearch.com