Smart Demand Response Market To Be Worth $24.71 Billion By 2022: Grand View Research, Inc.

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.
North America smart demand response market by application, (USD Million)
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.

Full Research Report On Global Smart Demand Response Market By Grand View Research:
www.grandviewresearch.com/industry-analysis/smart-demand-response-market

Further key findings from the report 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:
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 Press Release Of This Research Report By Grand View Research:
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.

For More Information: www.grandviewresearch.com

Comments

Post a Comment

Popular posts from this blog

Automotive Lighting Market Surge Valuation Of 34.65 Billion Units By 2022: Grand View Research, Inc.

Image
The  automotive lighting market  is anticipated to reach USD 34.65 billion by 2022. Strict government policies and rising safety concerns are likely to propel growth over the forecast period. In addition, growing consumer awareness concerning the significance of adaptive lighting including dynamic bend light and a glare-free high beam is also expected to have a positive impact on the exterior lighting market.  Asia Pacific automotive lighting market, by technology, 2012 - 2022 (USD Million) Increasing apprehensions about using energy efficient methods coupled with rising consumer disposable income are expected to drive the industry. In addition, growing demand for vehicles and technological advancements in the automotive industry are expected to propel utilization. Attractive growth opportunities for new entrants are expected in the industry owing to the growing number of total vehicles purchased y-o-y across BRIC nations. However, there is a need for legislative...
Read more

Headsets Market Size Worth To Reach $20,465.7 Million By 2024

Image
The  headsets market  is estimated to reach approximately USD 20,465.7 million by 2024, according to a new study conducted by Grand View Research, Inc. The rise in the disposable income is remarkably driving the demand for application-specific headsets. The increase in consumer spending for consumer electronic products has significantly spurred the market growth. The growing demand for improved design and style is anticipated to favorably impact the industry growth. In addition to this, increasing popularity and adoption of smartphones, portable music players, laptops, tablets, and other mobile devices are expected to catapult the industry growth prospects. Asia Pacific headset market revenue, by price, 2013 - 2024 (USD Million) Enhanced audio quality acoustics offered by in-ear products is substantially bringing traction in this industry. The advent of innovative technologies such as Bone Conduction, Near-field Magnetic Inductance (NFMI) Technology, and Design Improve...
Read more

Temperature Sensors Market To Cross $6.13 Billion Threshold By 2020

Image
The Global  Temperature Sensors Market  is expected to reach USD 6.13 billion by 2020, according to a new study by Grand View Research, Inc. Increasing global demand for smarter consumer electronics and automobiles is expected to favor market growth over the forecast period. Temperature sensors are increasingly used in smartphones and other consumer electronics to monitor their temperature and enhance performance.  Global temperature sensors market by application, 2012 – 2020 Basic temperature sensors include resistive temperature devices (RTD), thermocouples, liquid expansion devices, silicon diodes, infrared sensors etc. Additionally, fusion of communication, computing and sensing is expected to drive the MEMS market, which is expected to benefit global temperature sensor demand. Technological advancements and device miniaturization also drive market growth. Need for ensuring safety and favorable regulatory scenario is expected to fuel market growth over th...
Read more