DUBLIN, Sept. 12, 2014 /PRNewswire/ -- Research and Markets has announced the addition of the "Global Smart Demand Response Market (By End User - Residential, Commercial, and Industrial) - Trends and Forecast to 2025" report to their offering.
Burgeoning power demand propels the adoption of demand response programs. The roll-out of smart grid technologies, including smart meters and communication systems are likely to augment growth in the global smart demand response market. Increasing demand for power supplemented by capacity constraints is projected to boost growth in the global smart demand response market. Additionally, policies that encourage demand response programs are likely to accelerate the global smart demand response market growth in the future.
Moreover, increasing installations of smart meters and other smart grid technologies are estimated to bolster growth in the global smart demand response market. Albeit, limited customer awareness of demand response programs and their benefits can restrain market's growth. Further, high cost of technology and equipment for implementing demand response programs is likely to dampen the global smart demand response market's growth. However, technological advancements and developments by leading market players are likely to augment the market's growth.
Unprecedented energy challenges such as increased dependence on energy imports, lack of grid access to customers, growing energy security and environmental concerns, electricity infrastructure challenges, and surging power demand necessitates the modernization of electricity grids. Investment in demand response offsets investments in additional power infrastructure, averting the heavy cost of new power generation, transmission and distribution infrastructure. It further limits greenhouse gas emissions.
Industrial end user segment is expected to dominate the global smart demand response market over the coming years. Demand for a cost-effective and environmentally sensible means to meet electricity system needs is likely to drive growth in the end-user segment. The residential segment is one of the fastest growing end user segments.
Roll out of smart meters and communication technology is likely to allow utilities to control residential loads. Thus, the factors mentioned above are anticipated to augment the market's growth in the residential end user segment. Lucrative financial incentives for commercial and industrial end user segment are expected to register a significant growth in these segments.
The global smart demand response capacity market was dominated by North America followed by Europe and Asia Pacific. Electricity markets are increasingly recognizing the need for demand response programs to manage scheduled or emergency downtime for power plants. Additionally, demand response in North America is also recognized as a mechanism to mitigate higher wholesale prices and lower overall grid costs.
Thus, the factors mentioned above are likely to drive growth in the North America's smart demand response capacity market. Expected regulatory support through change in the demand response policies is anticipated to augment growth in the Europe's smart demand response capacity market. Asia Pacific is likely to grow at the highest rates in the future. Increased adoption of demand response in Asia Pacific is estimated to drive growth in the regions' demand response capacity market.
Key Topics Covered:
Chapter 1 Preface
Chapter 2 Executive Summary
Chapter 3 Global Smart Demand Response Market - Industry Analysis
Chapter 4 Global Smart Demand Response Market - End User Analysis
Chapter 5 Global Smart Demand Response Market - Capacity Analysis
Chapter 6 Global Smart Demand Response Market - Regional Analysis
Chapter 7 Company Profiles
- Comverge, Inc.
- Eaton Corporation Plc
- EnerNOC, Inc.
- General Electric
- Honeywell International, Inc.
- Itron, Inc.
- Johnson Controls, Inc.
- Opower, Inc.
- Schneider Electric
- Siemens AG
For more information visit http://www.researchandmarkets.com/research/g2wd3s/smart_demand
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SOURCE Research and Markets