PUBLISHER: IMARC | PRODUCT CODE: 1379116
PUBLISHER: IMARC | PRODUCT CODE: 1379116
Smart Demand Response Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
Abstract
The global smart demand response market size reached US$ 28.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 57.4 Billion by 2028, exhibiting a growth rate (CAGR) of 12.1% during 2022-2028.
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:
IMARC Group 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 2023-2028. 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 2022?
- 2. What is the expected growth rate of the global smart demand response market during 2023-2028?
- 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
- 7.1.1 United States
- 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
- 7.2.1 China
- 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
- 7.3.1 Germany
- 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
- 7.4.1 Brazil
- 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
- 12.3.1 ABB Ltd
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$), 2017-2022
- Figure 3: Global: Smart Demand Response Market Forecast: Sales Value (in Billion US$), 2023-2028
- Figure 4: Global: Smart Demand Response Market: Breakup by Application (in %), 2022
- Figure 5: Global: Smart Demand Response Market: Breakup by Region (in %), 2022
- Figure 6: Global: Smart Demand Response (Residential) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 7: Global: Smart Demand Response (Residential) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 8: Global: Smart Demand Response (Commercial) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 9: Global: Smart Demand Response (Commercial) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 10: Global: Smart Demand Response (Industrial) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 11: Global: Smart Demand Response (Industrial) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 12: North America: Smart Demand Response Market: Sales Value (in Million US$), 2017 & 2022
- Figure 13: North America: Smart Demand Response Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 14: United States: Smart Demand Response Market: Sales Value (in Million US$), 2017 & 2022
- Figure 15: United States: Smart Demand Response Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 16: Canada: Smart Demand Response Market: Sales Value (in Million US$), 2017 & 2022
- Figure 17: Canada: Smart Demand Response Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 18: Asia-Pacific: Smart Demand Response Market: Sales Value (in Million US$), 2017 & 2022
- Figure 19: Asia-Pacific: Smart Demand Response Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 20: China: Smart Demand Response Market: Sales Value (in Million US$), 2017 & 2022
- Figure 21: China: Smart Demand Response Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 22: Japan: Smart Demand Response Market: Sales Value (in Million US$), 2017 & 2022
- Figure 23: Japan: Smart Demand Response Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 24: India: Smart Demand Response Market: Sales Value (in Million US$), 2017 & 2022
- Figure 25: India: Smart Demand Response Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 26: South Korea: Smart Demand Response Market: Sales Value (in Million US$), 2017 & 2022
- Figure 27: South Korea: Smart Demand Response Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 28: Australia: Smart Demand Response Market: Sales Value (in Million US$), 2017 & 2022
- Figure 29: Australia: Smart Demand Response Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 30: Indonesia: Smart Demand Response Market: Sales Value (in Million US$), 2017 & 2022
- Figure 31: Indonesia: Smart Demand Response Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 32: Others: Smart Demand Response Market: Sales Value (in Million US$), 2017 & 2022
- Figure 33: Others: Smart Demand Response Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 34: Europe: Smart Demand Response Market: Sales Value (in Million US$), 2017 & 2022
- Figure 35: Europe: Smart Demand Response Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 36: Germany: Smart Demand Response Market: Sales Value (in Million US$), 2017 & 2022
- Figure 37: Germany: Smart Demand Response Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 38: France: Smart Demand Response Market: Sales Value (in Million US$), 2017 & 2022
- Figure 39: France: Smart Demand Response Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 40: United Kingdom: Smart Demand Response Market: Sales Value (in Million US$), 2017 & 2022
- Figure 41: United Kingdom: Smart Demand Response Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 42: Italy: Smart Demand Response Market: Sales Value (in Million US$), 2017 & 2022
- Figure 43: Italy: Smart Demand Response Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 44: Spain: Smart Demand Response Market: Sales Value (in Million US$), 2017 & 2022
- Figure 45: Spain: Smart Demand Response Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 46: Russia: Smart Demand Response Market: Sales Value (in Million US$), 2017 & 2022
- Figure 47: Russia: Smart Demand Response Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 48: Others: Smart Demand Response Market: Sales Value (in Million US$), 2017 & 2022
- Figure 49: Others: Smart Demand Response Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 50: Latin America: Smart Demand Response Market: Sales Value (in Million US$), 2017 & 2022
- Figure 51: Latin America: Smart Demand Response Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 52: Brazil: Smart Demand Response Market: Sales Value (in Million US$), 2017 & 2022
- Figure 53: Brazil: Smart Demand Response Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 54: Mexico: Smart Demand Response Market: Sales Value (in Million US$), 2017 & 2022
- Figure 55: Mexico: Smart Demand Response Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 56: Others: Smart Demand Response Market: Sales Value (in Million US$), 2017 & 2022
- Figure 57: Others: Smart Demand Response Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 58: Middle East and Africa: Smart Demand Response Market: Sales Value (in Million US$), 2017 & 2022
- Figure 59: Middle East and Africa: Smart Demand Response Market: Breakup by Country (in %), 2022
- Figure 60: Middle East and Africa: Smart Demand Response Market Forecast: Sales Value (in Million US$), 2023-2028
- 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, 2022 and 2028
- Table 2: Global: Smart Demand Response Market Forecast: Breakup by Application (in Million US$), 2023-2028
- Table 3: Global: Smart Demand Response Market Forecast: Breakup by Region (in Million US$), 2023-2028
- Table 4: Global: Smart Demand Response Market: Competitive Structure
- Table 5: Global: Smart Demand Response Market: Key Players
