Smart Demand Response Market Will Grow Rapidly Owing To Enhanced R&D Practices From 2014 To 2020: Grand View Research, Inc.

Grand View Research, Inc. – Market Research And Consulting. has announced the addition of “Global Smart Demand Response Market Analysis And Segment Forecasts To 2020” Market Research report to their Database.

The worldwide smart demand response market was valued at USD 5 billion in 2014. Introduction of regulatory frameworks coupled with advancement in technology in utilities verticals are factors anticipated to boost smart grid deployment, which is projected to drive the market growth.

Augmenting smart grid roll-outs enhances integration of renewable energy, automation in transmission and distribution and customer energy management systems. Furthermore, favorable DR programs and policies are anticipated to boost the growth.

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Advanced ICT DSM solutions coupled with intelligent metering for energy management in buildings is the key opportunity to utilize renewable energy resources and obtain energy savings. This is also estimated to encourage customer’s participation in the ecosystem.

DR programs entail direct load control of the huge appliance at home6 for residential customers involving pool pumps, air condition and hot water heaters. Rising use of distributed generation especially from the residential consumers assists in maximizing the DR potential.

For protecting electrical grid during high peak energy demand, intelligent buildings are anticipated to participate in DR programs. Electricity bills are projected to decrease on account of reduced loans during high cost period. This will be very beneficial for consumers.

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Rising need for utilities for managing peak requirement will impact augmenting developments for commercial and industrial demand response. Also, it will affect improvements in hardware technology involving control equipment and metering.

Asia pacific smart demand response market contributed over 15% of the total revenue in 2014. Rising adoption of smart meters is the key factor attributing to the high growth in the region.  Moreover, North America region accounted for over 60% of the total share. Also, buildings are projected to contribute to the maximum peak load in California.

Major market participant such as Schneider Electric offers solutions electric utilities, Schneider Electric introduced WI-Fi thermostat in December 2015. Wider Air thermostat is equipped with ZigBee to interface with several intelligent home devices and smart meters.

The DR program assists in improving optimization, distribution, monitoring through development, optimization in addition to dispatching virtual power plants. ABB announced the installation of 363 kilovolts in December 2015; it basically detaches the circuit breaker in combination with fiber optic current sensor. Further, it also amalgamates substation functions involving disconnecting and circuit breaking into one single component. Hereafter, decreasing the space required for substation bay.

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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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