Global Smart Demand Response Market size was valued US$ XX Bn. in 2019 and is expected to reach US$ 26.3 Bn. by 2027, at a CAGR of XX% during forecast period.
Global Smart Demand Response Market
The report study has analyzed revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers and market disrupters in the report and same is reflected in our analysis.
Smart demand response is a strategy used by electric utility enterprises to reduce or shift energy consumption from peak hours of the day when the demand for electricity is the greatest to learner demand periods. It comprises allowing customers to choose non-essential loads, which can be shed by the consumers themselves or by the utility, at peak times.
The smart demand response market report covers all the trends and technologies playing a major role in the growth of the market over 2020-2027. It highlights the drivers, restraints, and opportunities expected to influence market growth during the forecast period. Government policies and incentives are expected to significantly boost the size of the global market during the forecasted period. Also, the introduction of the Leadership in energy and environmental design will likely upsurge revenue in smart demand response market in the future. Such as, the U.S. Green Building Council issued a publication regarding the initiation of a LEED DR Pilot Program, which will boost more advancement in the smart demand response market.
Major advancements in technology in the upcoming years are also expected to fuel the growth of the target market. Demand response provides an opportunity for customers to play a significant role in the operation of the electric grid by dropping or shifting their electricity usage during peak periods in response to time-based rates or another form of financial incentives.
The report provides an in-depth segment analysis of the global smart demand response market, thereby providing valuable insights at the macro as well as micro levels. By end-user, the residential segment was valued at USD XX.14 Mn. in 2019 and is expected to reach USD XX.23 Mn. by 2027 at a CAGR of XX.32% over the forecast period. Residential end-user segment is poised to grow at a CAGR higher than the worldwide average, which is a direct consequence of financial incentives and rebates offered by values to domestic consumers to persuade them in the participation of several direct load control programs. The contribution of smart homes and buildings in DR programs to guard electrical grids for the duration of peak energy demand is likely to reduce loads during high-cost periods, thus reducing bills.
In 2019, Asia Pacific accounted for more than ~18% of the global revenue in the market for smart demand response. This held such a large share of the market owing to the increased adoption of smart meters. Moving forward, the introduction of time-based electricity estimating options, which have been allowed by the huge rollouts of these smart meters, will open up even more opportunities for growth in the industry in the Asia Pacific.
The report also focuses on global major leading market players of global smart demand response market providing information such as company profiles, products and capacity, production, specification, cost, and revenue. Such as the ABB company is a major key player in smart demand response market, specified that they would be installing a 363-kilovolt power plant, which would disconnect circuit waves along with the Fiber Optic Current Sensor, thus making it possible to integrate substation functions, with current measurements, separating, as well as circuit breaking, into a single component.
The objective of the report is to present a comprehensive analysis of the Global Smart Demand Response Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Smart Demand Response Market dynamics, structure by analyzing the market segments and projects the Global Smart Demand Response Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Smart Demand Response Market make the report investor’s guide.
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Scope of the Global Smart Demand Response Market
Global Smart Demand Response Market, by End-User
Global Smart Demand Response Market, by Region
• Asia Pacific
• North America
• Latin America
• Middle East Africa
Key players operating in Global Smart Demand Response Market
• Comverge, Inc.
• Eaton Corporation Plc
• EnerNOC, Inc.
• General Electric
• Honeywell International, Inc.
• Johnson Controls, Inc.
• Itron, Inc.
• Opower, Inc.
• Schneider Electric
• Siemens AG
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