“Smart Demand Response Market” 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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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.
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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.
Table of Contents
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Smart Demand Response Industry Outlook
Chapter 4. Smart Demand Response Application Outlook
Chapter 5. Smart Demand Response Regional Outlook
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