The global home energy management systems (HEMS) market is expected to exceed $2 billion by 2020, according to a new study by Grand View Research. Owing to increasing energy cost coupled with growing environmental concerns, energy management has emerged as a priority, which is expected to fuel the HEMS market. 

According to a new report on the home energy management systems (HEMS) market, the market was valued at $393.8 million in 2012, and it is expected to reach USD $1.9 billion by 2019, growing at a compound annual growth rate (CAGR) of 25 percent from 2013 to 2019.