A new report released today by GTM Research has identified 120 significant players in what the analysts have labeled a "burgeoning home energy market" for North America.
A leading number of brand names currently make up just a fraction of the home energy market, such as Walmart, Verizon, Comcast, Googles Nest and SolarCity, but GTM Researchs has analyzed hundreds of other vendors in this space, and names those companies that it believes will shape the market in the future.
The report, titled Energy in the Connected Home 2015: Technology, Evolution, Landscape, and Distribution Strategies, looks at 107 mergers, acquisitions and partnerships in the sector since 2009, and notes that tech companies, energy retailers, utilities and service providers comprise only a small portion of the market.
A growing list of blue-chip vendors is beginning to make inroads into the sector, including Apple, ADT, Google, Samsung, Verizon and Walmart, which have all begun partnering with existing, incumbent hardware and software providers in order to deliver Internet of Things-style ecosystems.
"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," said Omar Saadeh, GTM Researchs senior grid analyst. "Market growth is creating opportunities for companies on both sides of the meter."
The approach of recognizable brands operating in the consumer product space has been to test new business models by bundling new offerings to their clients, with one eye on enticing high-value customers. For the consumer, the value of convenience wins out; bundled, brand-backed packages deliver peace of mind and, increasingly, cost savings.
"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," added Saadeh.
For utility incumbents, the attraction to test and deploy a wider set of products and services is set to promote greater consumer engagement and improved energy efficiency, the analyst added.