San Francisco, 24 April , Smart Demand Response Market
Analysis By Application (Residential, Commercial, Industrial) And Segment
Forecasts To 2022
The global smart demand response market size is expected to reach USD 24.71
billion by 2022, 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.
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Report On Smart Demand Response Market Analysis:
Further key findings from the study suggest:
·
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 50% of the revenue in 2014; 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 contributed to
over 15% of the market revenue in 2014. DR programs are expected to increase
significantly in the countries of Asia Pacific. Power utilities offer
initiatives to reduce peak load demand on power grids. Components of the
initiative include expansion of transformation to thin-tube (T8) lamps,
Time-of-Use (TOU) metering programs, high efficiency refrigerators, and
promotion of compact fluorescent lamps (CFLs) which are expected to boost the
DR market growth.
·
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.
Browse More Reports Of This Category By Grand View
Research At: https://www.grandviewresearch.com/industry/electronic-devices
Grand View Research has segmented the
global smart demand response market on the basis of application and region:
Smart Demand Response
Application Outlook (Revenue, USD Million, 2012 - 2022)
·
Residential
·
Commercial
·
Industrial
Smart Demand Response Regional
Outlook (Revenue, USD Million, 2012 - 2022)
·
North America
·
Europe
·
Asia Pacific
·
Latin America
·
Middle East & Africa (MEA)
Access Full Press Release of this Report: https://www.grandviewresearch.com/press-release/global-smart-demand-response-market
About Grand View Research
Grand View Research, Inc. is a U.S. based
market research and consulting company, registered in the State of California
and headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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