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Smart Demand Response Market Report by Application, and Region 2024-2032

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    Report

  • 143 Pages
  • August 2024
  • Region: Global
  • IMARC Group
  • ID: 5901629
The global smart demand response market size reached US$ 32.5 Billion in 2023. Looking forward, the publisher expects the market to reach US$ 82.3 Billion by 2032, exhibiting a growth rate (CAGR) of 10.88% during 2023-2032.

Smart demand response refers to a voluntary reduction in energy consumption during peak hours to shift the load on the grid in response to time-based rates or other forms of financial incentives. It is a pre-arranged agreement between the consumer and the utility management authority that enables automatic management of electricity consumption and load on the smart grid without downtime, blackouts and congestion.

Smart demand response is usually available to the consumers in the form of emergency, economic, flexible and ancillary demand response. It enables the consumers to choose non-essential loads, which can be shed by themselves or by the utility, at peak times. It also aids in reducing the overall installation costs, operating costs and potential grid failures.

Smart Demand Response Market Trends:

The global smart demand response market is being driven by the growing energy requirements, along with the increasing adoption of smart grid technologies, especially in the developing economies. Smart grids are being widely integrated with smart demand response systems to intercept peak load problems and utilize automatic switching to divert and optimize power consumption. Moreover, the system is also widely adopted by transmission operators to manage networking constraints and relieve voltage congestion in distribution substations. In line with this, the availability of various price-based demand response models is also contributing to the market growth.

It includes critical-peak pricing (CTP), real-time pricing (RTP) and time-of-use (TOU) pricing. Additionally, the integration of residential heating, ventilation and air conditioning (HVAC) systems and lighting networks with the Internet of Things (IoT) and cloud technologies, are acting as other growth-inducing factors. These technologies provide real-time insights and alerts on power consumption to the consumer and the producer. Other factors, including extensive infrastructural developments, along with the implementation of favorable government policies, are anticipated to drive the market toward growth.

Key Market Segmentation:

The publisher provides an analysis of the key trends in each sub-segment of the global smart demand response market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on application.

Breakup by Application:

  • Residential
  • Commercial
  • Industrial

Breakup by Region:

  • North America
  • United States
  • Canada
  • Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
  • Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
  • Latin America
  • Brazil
  • Mexico
  • Others
  • Middle East and Africa

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being ABB Ltd, Eaton Corporation plc, Enel S.p.A., General Electric Company, Hitachi Ltd, Honeywell International Inc., Itron Inc., Johnson Controls International plc, Oracle Corporation, Schneider Electric SE and Siemens AG.

Key Questions Answered in This Report

1. What was the size of the global smart demand response market in 2023?
2. What is the expected growth rate of the global smart demand response market during 2024-2032?
3. What has been the impact of COVID-19 on the global smart demand response market?
4. What are the key factors driving the global smart demand response market?
5. What is the breakup of the global smart demand response market based on application?
6. What are the key regions in the global smart demand response market?
7. Who are the key players/companies in the global smart demand response market?

Table of Contents

1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Smart Demand Response Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Application
6.1 Residential
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Commercial
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Industrial
6.3.1 Market Trends
6.3.2 Market Forecast
7 Market Breakup by Region
7.1 North America
7.1.1 United States
7.1.1.1 Market Trends
7.1.1.2 Market Forecast
7.1.2 Canada
7.1.2.1 Market Trends
7.1.2.2 Market Forecast
7.2 Asia-Pacific
7.2.1 China
7.2.1.1 Market Trends
7.2.1.2 Market Forecast
7.2.2 Japan
7.2.2.1 Market Trends
7.2.2.2 Market Forecast
7.2.3 India
7.2.3.1 Market Trends
7.2.3.2 Market Forecast
7.2.4 South Korea
7.2.4.1 Market Trends
7.2.4.2 Market Forecast
7.2.5 Australia
7.2.5.1 Market Trends
7.2.5.2 Market Forecast
7.2.6 Indonesia
7.2.6.1 Market Trends
7.2.6.2 Market Forecast
7.2.7 Others
7.2.7.1 Market Trends
7.2.7.2 Market Forecast
7.3 Europe
7.3.1 Germany
7.3.1.1 Market Trends
7.3.1.2 Market Forecast
7.3.2 France
7.3.2.1 Market Trends
7.3.2.2 Market Forecast
7.3.3 United Kingdom
7.3.3.1 Market Trends
7.3.3.2 Market Forecast
7.3.4 Italy
7.3.4.1 Market Trends
7.3.4.2 Market Forecast
7.3.5 Spain
7.3.5.1 Market Trends
7.3.5.2 Market Forecast
7.3.6 Russia
7.3.6.1 Market Trends
7.3.6.2 Market Forecast
7.3.7 Others
7.3.7.1 Market Trends
7.3.7.2 Market Forecast
7.4 Latin America
7.4.1 Brazil
7.4.1.1 Market Trends
7.4.1.2 Market Forecast
7.4.2 Mexico
7.4.2.1 Market Trends
7.4.2.2 Market Forecast
7.4.3 Others
7.4.3.1 Market Trends
7.4.3.2 Market Forecast
7.5 Middle East and Africa
7.5.1 Market Trends
7.5.2 Market Breakup by Country
7.5.3 Market Forecast
8 SWOT Analysis
8.1 Overview
8.2 Strengths
8.3 Weaknesses
8.4 Opportunities
8.5 Threats
9 Value Chain Analysis
10 Porters Five Forces Analysis
10.1 Overview
10.2 Bargaining Power of Buyers
10.3 Bargaining Power of Suppliers
10.4 Degree of Competition
10.5 Threat of New Entrants
10.6 Threat of Substitutes
11 Price Analysis
12 Competitive Landscape
12.1 Market Structure
12.2 Key Players
12.3 Profiles of Key Players
12.3.1 ABB Ltd
12.3.1.1 Company Overview
12.3.1.2 Product Portfolio
12.3.1.3 Financials
12.3.1.4 SWOT Analysis
12.3.2 Eaton Corporation plc
12.3.2.1 Company Overview
12.3.2.2 Product Portfolio
12.3.2.3 Financials
12.3.2.4 SWOT Analysis
12.3.3 Enel S.p.A.
12.3.3.1 Company Overview
12.3.3.2 Product Portfolio
12.3.3.3 Financials
12.3.3.4 SWOT Analysis
12.3.4 General Electric Company
12.3.4.1 Company Overview
12.3.4.2 Product Portfolio
12.3.4.3 Financials
12.3.4.4 SWOT Analysis
12.3.5 Hitachi Ltd
12.3.5.1 Company Overview
12.3.5.2 Product Portfolio
12.3.5.3 Financials
12.3.5.4 SWOT Analysis
12.3.6 Honeywell International Inc.
12.3.6.1 Company Overview
12.3.6.2 Product Portfolio
12.3.6.3 Financials
12.3.6.4 SWOT Analysis
12.3.7 Itron Inc.
12.3.7.1 Company Overview
12.3.7.2 Product Portfolio
12.3.7.3 Financials
12.3.7.4 SWOT Analysis
12.3.8 Johnson Controls International plc
12.3.8.1 Company Overview
12.3.8.2 Product Portfolio
12.3.8.3 Financials
12.3.8.4 SWOT Analysis
12.3.9 Oracle Corporation
12.3.9.1 Company Overview
12.3.9.2 Product Portfolio
12.3.9.3 Financials
12.3.9.4 SWOT Analysis
12.3.10 Schneider Electric SE
12.3.10.1 Company Overview
12.3.10.2 Product Portfolio
12.3.10.3 Financials
12.3.10.4 SWOT Analysis
12.3.11 Siemens AG
12.3.11.1 Company Overview
12.3.11.2 Product Portfolio
12.3.11.3 Financials
12.3.11.4 SWOT Analysis
List of Figures
Figure 1: Global: Smart Demand Response Market: Major Drivers and Challenges
Figure 2: Global: Smart Demand Response Market: Sales Value (in Billion US$), 2018-2023
Figure 3: Global: Smart Demand Response Market Forecast: Sales Value (in Billion US$), 2024-2032
Figure 4: Global: Smart Demand Response Market: Breakup by Application (in %), 2023
Figure 5: Global: Smart Demand Response Market: Breakup by Region (in %), 2023
Figure 6: Global: Smart Demand Response (Residential) Market: Sales Value (in Million US$), 2018 & 2023
Figure 7: Global: Smart Demand Response (Residential) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 8: Global: Smart Demand Response (Commercial) Market: Sales Value (in Million US$), 2018 & 2023
Figure 9: Global: Smart Demand Response (Commercial) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 10: Global: Smart Demand Response (Industrial) Market: Sales Value (in Million US$), 2018 & 2023
Figure 11: Global: Smart Demand Response (Industrial) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 12: North America: Smart Demand Response Market: Sales Value (in Million US$), 2018 & 2023
Figure 13: North America: Smart Demand Response Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 14: United States: Smart Demand Response Market: Sales Value (in Million US$), 2018 & 2023
Figure 15: United States: Smart Demand Response Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 16: Canada: Smart Demand Response Market: Sales Value (in Million US$), 2018 & 2023
Figure 17: Canada: Smart Demand Response Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 18: Asia-Pacific: Smart Demand Response Market: Sales Value (in Million US$), 2018 & 2023
Figure 19: Asia-Pacific: Smart Demand Response Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 20: China: Smart Demand Response Market: Sales Value (in Million US$), 2018 & 2023
Figure 21: China: Smart Demand Response Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 22: Japan: Smart Demand Response Market: Sales Value (in Million US$), 2018 & 2023
Figure 23: Japan: Smart Demand Response Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 24: India: Smart Demand Response Market: Sales Value (in Million US$), 2018 & 2023
Figure 25: India: Smart Demand Response Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 26: South Korea: Smart Demand Response Market: Sales Value (in Million US$), 2018 & 2023
Figure 27: South Korea: Smart Demand Response Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 28: Australia: Smart Demand Response Market: Sales Value (in Million US$), 2018 & 2023
Figure 29: Australia: Smart Demand Response Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 30: Indonesia: Smart Demand Response Market: Sales Value (in Million US$), 2018 & 2023
Figure 31: Indonesia: Smart Demand Response Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 32: Others: Smart Demand Response Market: Sales Value (in Million US$), 2018 & 2023
Figure 33: Others: Smart Demand Response Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 34: Europe: Smart Demand Response Market: Sales Value (in Million US$), 2018 & 2023
Figure 35: Europe: Smart Demand Response Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 36: Germany: Smart Demand Response Market: Sales Value (in Million US$), 2018 & 2023
Figure 37: Germany: Smart Demand Response Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 38: France: Smart Demand Response Market: Sales Value (in Million US$), 2018 & 2023
Figure 39: France: Smart Demand Response Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 40: United Kingdom: Smart Demand Response Market: Sales Value (in Million US$), 2018 & 2023
Figure 41: United Kingdom: Smart Demand Response Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 42: Italy: Smart Demand Response Market: Sales Value (in Million US$), 2018 & 2023
Figure 43: Italy: Smart Demand Response Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 44: Spain: Smart Demand Response Market: Sales Value (in Million US$), 2018 & 2023
Figure 45: Spain: Smart Demand Response Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 46: Russia: Smart Demand Response Market: Sales Value (in Million US$), 2018 & 2023
Figure 47: Russia: Smart Demand Response Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 48: Others: Smart Demand Response Market: Sales Value (in Million US$), 2018 & 2023
Figure 49: Others: Smart Demand Response Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 50: Latin America: Smart Demand Response Market: Sales Value (in Million US$), 2018 & 2023
Figure 51: Latin America: Smart Demand Response Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 52: Brazil: Smart Demand Response Market: Sales Value (in Million US$), 2018 & 2023
Figure 53: Brazil: Smart Demand Response Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 54: Mexico: Smart Demand Response Market: Sales Value (in Million US$), 2018 & 2023
Figure 55: Mexico: Smart Demand Response Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 56: Others: Smart Demand Response Market: Sales Value (in Million US$), 2018 & 2023
Figure 57: Others: Smart Demand Response Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 58: Middle East and Africa: Smart Demand Response Market: Sales Value (in Million US$), 2018 & 2023
Figure 59: Middle East and Africa: Smart Demand Response Market: Breakup by Country (in %), 2023
Figure 60: Middle East and Africa: Smart Demand Response Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 61: Global: Smart Demand Response Industry: SWOT Analysis
Figure 62: Global: Smart Demand Response Industry: Value Chain Analysis
Figure 63: Global: Smart Demand Response Industry: Porter's Five Forces Analysis
List of Tables
Table 1: Global: Smart Demand Response Market: Key Industry Highlights, 2023 and 2032
Table 2: Global: Smart Demand Response Market Forecast: Breakup by Application (in Million US$), 2024-2032
Table 3: Global: Smart Demand Response Market Forecast: Breakup by Region (in Million US$), 2024-2032
Table 4: Global: Smart Demand Response Market: Competitive Structure
Table 5: Global: Smart Demand Response Market: Key Players

Companies Mentioned

  • ABB Ltd
  • Eaton Corporation plc
  • Enel S.p.A.
  • General Electric Company
  • Hitachi Ltd
  • Honeywell International Inc.
  • Itron Inc.
  • Johnson Controls International plc
  • Oracle Corporation
  • Schneider Electric SE
  • Siemens AG

Methodology

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Table Information