Smart Demand Response Market

Smart Demand Response Market - The Rising Application Of Smart Grids In The
Developed World Will Help Expand The Volume Of Residential End Users
Industry-leading analysis firm Transparency Market Research has announced a new
market report, detailing the global smart demand response market. The report, titled
‘Smart Demand Response Market – Global Industry Analysis, Size, Share, Growth,
Trends and Forecast 2014 – 2025’, explains key trends in the market. The report
estimates the smart demand response market to reach a total valuation of US$51,479
million by the end of the forecast period at a CAGR of 21.6%.The report forecasts
that the constantly increasing amount of power required in the modern world will
inevitably lead to demand response programs. Government policies for smart demand
response will aid the global market; the increasing deployment of smart grids all over
the world is a factor expected to boost the global smart demand response market.
Demand response refers to technologies and devices used to reduce the peak
electricity consumption of a consumer. This is more economically beneficial than
adding electricity generators to supplement the existing supply. During peak demand
periods, smart demand response systems manage the electricity consumption of a
device or set of devices to minimize the amount of electrical power consumed by
that unit. So far, the market for demand response has largely been limited to
voluntary participation from the consumer, but the advent of smart grids is expected
to revolutionize the process, automating demand response and thus boosting the
global smart demand response market.
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The major end-use sectors of smart demand response are industrial, commercial, and
residential. Due to its high volume of electricity consumption, the industrial sector
led the total demand for smart demand response in 2013. The rising application of
smart grids in the developed world will help expand the volume of residential end
users of smart demand response systems in the forecast period.Growing awareness
about smart demand response among responsible citizens has the potential to
overcome price barriers restraining the global smart demand response market at
present. Since smart technology is a recent innovation, it is currently prohibitively
expensively for much of the developing world. Awareness of the environmental
impact as well as the long-term economic benefits of smart demand response will
thus help gain demand from currently uninitiated sections of the global
population.The report analyzes all these driving and restraining factors acting on the
global smart demand response market and describes the potential impact on the
market in the forecast period.
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Regionally, the global market is segregated in the report into North America, Europe,
Asia Pacific, and Rest of the World. Within the national markets in Asia Pacific, the
markets for smart demand response in Indonesia, Malaysia, India, Vietnam, Myanmar,
Thailand, and the Philippines are examined in detail. Due to high consumer
prosperity and acknowledgment of the need to conserve energy, North America, led
by the U.S. and Canada, accounted for a whopping 80% of the global market for
smart demand response in 2013 and is expected to keep up its high share in the
forecast period.

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