Smart Demand Response Market Size, Share & Trends Analysis Report By Application (Residential, Commercial, Industrial), By Region (North America, Europe, Asia Pacific, Latin America, MEA), And Segment Forecasts, 2023 - 2030
Smart Demand Response Market Growth & Trends
The global smart demand response market size is expected to reach USD 88.79 billion by 2030, registering a CAGR of 17.4%, according to a new study by Grand View Research Inc.
Increasing grid deployment is expected to favorably impact market growth. Demand response plays an important role in electric grid operation by reducing electricity usage during peak hours.
Introduction of grid technologies is expected to open avenues for the traditional energy infrastructure vendors. Smart grids when coupled with metering systems; provide information on real time consumption to the customers as well as suppliers.
Spread of ubiquitous wireless networks as well as internet access, along with the growing level of intelligence built into HVAC systems, industrial controls, lighting networks and varied other big building loads is expected to drive the automated DR market.
Smart Demand Response Market Report Highlights
- Residential segment is poised to grow at a CAGR higher than the global average, which is a direct consequence of financial incentives and rebates offered by utilities to domestic customers to persuade them in the participation of several direct load control programs. The participation of smart buildings in DR programs to protect electrical grids for the duration of peak energy demand is expected to reduce loads during high-cost periods, thereby reducing bills.
- Industrial applications contributed to over 52.0% of the revenue in 2022; this large share can be attributed to DR programs offered by several utilities for maximizing power utilization through adoption of high efficiency variable speed drives and motors. Industrial customers are also encouraged to participate in such programs on account of lucrative financial incentives offered to them.
- Asia Pacific is expected to register the highest CAGR of 21.0% over the forecast period. It can be attributed to the growing adoption of smart meters in the region.
- The market is highly fragmented, with no particular company occupying a majority of the revenue share. The industry is characterized by companies having a strong hold over a particular region with little or no influence globally. However, through mergers & acquisitions, key participants have started expanding globally. Upcoming smart grid projects in countries such as Australia, India, China, and Japan have attracted prominent players in these regions.
- Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.1.1. Application
- 1.1.2. Regional scope
- 1.1.3. Estimates and forecast timeline
- 1.2. Research Methodology
- 1.3. Information Procurement
- 1.3.1. Purchased database
- 1.3.2. GVR’s internal database
- 1.3.3. Secondary sources
- 1.3.4. Primary research
- 1.3.5. Details of primary research
- 1.4. Information or Data Analysis
- 1.5. Market Formulation & Validation
- 1.6. Model Details
- 1.7. List of Secondary Sources
- 1.8. List of Primary Sources
- 1.9. Objectives
- Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segment Outlook
- 2.2.1. Application outlook
- 2.2.2. Regional outlook
- 2.3. Competitive Insights
- Chapter 3. Smart Demand Response Market Variables, Trends & Scope
- 3.1. Market Lineage Outlook
- 3.2. Industry Value Chain Analysis
- 3.3. Market Dynamics
- 3.3.1. Market driver analysis
- 3.3.2. Market restraint analysis
- 3.3.3. Market opportunity analysis
- 3.4. Smart Demand Response Market Analysis Tools
- 3.4.1. Industry analysis - Porter’s
- 3.4.1.1. Supplier power
- 3.4.1.2. Buyer power
- 3.4.1.3. Substitution threat
- 3.4.1.4. Threat of new entrant
- 3.4.1.5. Competitive rivalry
- 3.4.2. PESTEL analysis
- 3.4.2.1. Political landscape
- 3.4.2.2. Technological landscape
- 3.4.2.3. Economic landscape
- Chapter 4. Smart Demand Response Market: Application Estimates & Trend Analysis
- 4.1. Smart Demand Response Market: Key Takeaways
- 4.2. Smart Demand Response Market: Movement & Market Share Analysis, 2022 & 2030
- 4.3. Residential
- 4.3.1. Residential market estimates and forecasts, 2017 to 2030 (USD Million)
- 4.4. Commercial
- 4.4.1. Commercial market estimates and forecasts, 2017 to 2030 (USD Million)
- 4.5. Industrial
- 4.5.1. Industrial market estimates and forecasts, 2017 to 2030 (USD Million)
- Chapter 5. Smart Demand Response Market: Regional Estimates & Trend Analysis
- 5.1. Regional Outlook
- 5.2. Smart Demand Response Market by Region: Key Takeaway
- 5.3. North America
- 5.3.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
- 5.3.2. U.S.
- 5.3.2.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
- 5.3.3. Canada
- 5.3.3.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
- 5.4. Europe
- 5.4.1. UK
- 5.4.1.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
- 5.4.2. Germany
- 5.4.2.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
- 5.4.3. France
- 5.4.3.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
- 5.5. Asia Pacific
- 5.5.1. Japan
- 5.5.1.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
- 5.5.2. China
- 5.5.2.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
- 5.5.3. India
- 5.5.3.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
- 5.5.4. Australia
- 5.5.4.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
- 5.5.5. South Korea
- 5.5.5.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
- 5.6. Latin America
- 5.6.1. Brazil
- 5.6.1.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
- 5.6.2. Mexico
- 5.6.2.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
- 5.7. MEA
- 5.7.1. Saudi Arabia
- 5.7.1.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
- 5.7.2. South Africa
- 5.7.2.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
- 5.7.3. United Arab Emirates (UAE)
- 5.7.3.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
- Chapter 6. Competitive Landscape
- 6.1. Recent Developments & Impact Analysis, By Key Market Participants
- 6.2. Market Participant Categorization
- 6.2.1. ABB
- 6.2.1.1. Company overview
- 6.2.1.2. Financial performance
- 6.2.1.3. Product benchmarking
- 6.2.1.4. Strategic initiatives
- 6.2.2. Eaton
- 6.2.2.1. Company overview
- 6.2.2.2. Financial performance
- 6.2.2.3. Product benchmarking
- 6.2.2.4. Strategic initiatives
- 6.2.3. Enel X S.r.l.
- 6.2.3.1. Company overview
- 6.2.3.2. Financial performance
- 6.2.3.3. Product benchmarking
- 6.2.3.4. Strategic initiatives
- 6.2.4. General Electric
- 6.2.4.1. Company overview
- 6.2.4.2. Financial performance
- 6.2.4.3. Product benchmarking
- 6.2.4.4. Strategic initiatives
- 6.2.5. Honeywell International Inc.
- 6.2.5.1. Company overview
- 6.2.5.2. Financial performance
- 6.2.5.3. Product benchmarking
- 6.2.5.4. Strategic initiatives
- 6.2.6. Johnson Controls
- 6.2.6.1. Company overview
- 6.2.6.2. Financial performance
- 6.2.6.3. Product benchmarking
- 6.2.6.4. Strategic initiatives
- 6.2.7. Oracle Energy and Water
- 6.2.7.1. Company overview
- 6.2.7.2. Financial performance
- 6.2.7.3. Product benchmarking
- 6.2.7.4. Strategic initiatives
- 6.2.8. Siemens
- 6.2.8.1. Company overview
- 6.2.8.2. Financial performance
- 6.2.8.3. Product benchmarking
- 6.2.8.4. Strategic initiatives
- 6.2.9. Schneider Electric
- 6.2.9.1. Company overview
- 6.2.9.2. Financial performance
- 6.2.9.3. Product benchmarking
- 6.2.9.4. Strategic initiatives
- 6.2.10. Itron Inc.
- 6.2.10.1. Company overview
- 6.2.10.2. Financial performance
- 6.2.10.3. Product benchmarking
- 6.2.10.4. Strategic initiatives
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