Companies from a diverse set of industries are clamoring to enter the space.
According to GTM Research's latest report, Energy in the Connected Home 2015: Technology, Evolution, Landscape, and Distribution Strategies, the burgeoning home energy market is attracting entrants from a wide range of industries. The report counts 107 mergers, acquisitions and partnerships in the space since 2009 and details 120 of the most significant players in the North American home energy market.
Tech companies, energy retailers, service providers, utilities and investors make up just a fraction of the diverse set of industries clamoring to enter the home energy market. A growing list of blue-chip vendors, including Apple, ADT, Google (after it acquired Nest), Samsung, Verizon, and Wal-Mart, are partnering with incumbent hardware and software providers to develop home internet-of-things ecosystems to usher in a new phase of home energy management solutions. These players enter an arena already crowded with solar, security, telecom and energy providers.
"Venture-backed startups are positioning themselves to take advantage of the new and competitive era of energy management in the connected home that is driven by the proliferation of consumer interest in smart devices and increasing efforts to reduce home energy bills," says report author and GTM Research Senior Grid Analyst Omar Saadeh. He notes that "market growth is creating opportunities for companies on both sides of the meter."
Consumer product providers continue to test new business models and bundled offerings in hopes of increasing adoption and enticing high-value customers. These solutions are becoming increasingly integrated as consumers begin to realize the value of convenience, as well as potential cost savings associated with data sharing among intelligent devices.
"The quest for additional revenue sources and increased operational flexibility, combined with evolving regulatory requirements, is pushing utilities to continue to explore and implement residential energy management solutions," says Saadeh. "Utility incumbents continue to test and deploy a wider set of products and services to promote consumer engagement, energy efficiency and demand management."
The new report provides a comprehensive look at the vendor landscape, drivers and barriers, technology evolution, and financial activity within the home energy market. For more information, visit https://www.greentechmedia.com/research/report/energy-in-the-connected-home-2015.