Demand Response Market by Product, End-user, and Geography - Forecast and Analysis 2021-2025

  • Published: May 2021
  • Pages: 120
  • SKU: IRTNTR41453

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The demand response (DR) market has the potential to grow by USD 1.71 billion during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 6.02%.

This demand response market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by product (hardware and software and service), end-user (industrial, residential, and commercial), and geography (North America, Europe, APAC, South America, and MEA). The demand response market report also offers information on several market vendors, including ABB Ltd., Cisco Systems Inc., Enel Spa, Honeywell International Inc., Itron Inc., LS Power Development LLC, Oracle Corp., Schneider Electric SE, Siemens AG, and Toshiba Corp. among others.

What will the Demand Response (DR) Market Size be in 2021?

Demand-Response-(DR)-Market-Market-Size-2020-2025

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Demand Response (DR) Market: Key Drivers and Trends

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The increasing gap between electricity supply and demand is notably driving the demand response market growth, although factors such as growing threat of hacking may impede market growth. To unlock information on the key market drivers and the COVID-19 pandemic impact on the demand response industry get your FREE report sample now.

  • The increasing gap between electricity supply and demand will fuel the growth of the demand response market size.
  • Utility and generation companies must constantly match supply and demand throughout the year to maintain reliability on the power system.
  • With more variable generation, both transmission and distributor system operators require tools and resources to maintain reliability while addressing the short, steep ramps and moderate load requirements.
  • Transmission and distribution systems require DR to increase the overall flexibility of the system, such as magnifying balancing areas, increasing the ramping capability of the generation fleet, leveraging dispatchable demand resources, inserting power flow controllers, and raising energy storage to maintain reliability.
  • The growing demand for smart devices and analytics software will drive the demand response market growth.
  • The advent of new devices, such as smart meters, smart thermostats, and automatic control switches, has increased the ability of electricity networks to keep track of real-time electricity utilization.
  • The high-end software installed as part of the DR systems can interlink and network different systems and keep an overall tab on the performance and productivity of the networked system.
  • With the rise in the number of connected devices in the power network, a massive amount of data is generated.
  • The use of software has ensured that businesses can deploy a platform to store such large chunks of data and retrieve them anytime. This allows businesses to create a backup of their assets and secure critical information, thereby reducing operational risk. 

This demand response market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. Get detailed insights on the trends and challenges, which will help companies evaluate and develop growth strategies.

Who are the Major Demand Response (DR) Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • ABB Ltd.
  • Cisco Systems Inc.
  • Enel Spa
  • Honeywell International Inc.
  • Itron Inc.
  • LS Power Development LLC
  • Oracle Corp.
  • Schneider Electric SE
  • Siemens AG
  • Toshiba Corp.

 

The DR market is fragmented and the vendors are deploying growth strategies such as diversifying their solution offerings through R&D to compete in the market. Click here to uncover other successful business strategies deployed by the vendors. 

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Download a free sample of the demand response market forecast report for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Demand Response (DR) Market?

Demand-Response-(DR)-Market-Market-Share-by-Region-2020-2025

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59% of the market’s growth will originate from North America during the forecast period. The US and Canada are the key markets for demand response in North America. However, market growth in North America will be slower than the growth of the market in other regions.

The rising awareness among the end-users about the benefits of DR programs will facilitate the DR market growth in North America over the forecast period. To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report.

What are the Revenue-generating Product Segments in the Demand Response (DR) Market?

Demand-Response-(DR)-Market-Market-Share-by-Product-2020-2025

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The demand response market share growth by the hardware and software segment will be significant during the forecast period. The IoT implementation in industrial and commercial sectors is likely to provide a great opportunity for the demand response market by hardware and software in the Americas and European region during the forecast period. 

Fetch actionable market insights on post COVID-19 impact on each segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the demand response market size.

 

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What are the Key Factors Covered in this Demand Response (DR) Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive demand response market growth during the next five years
  • Precise estimation of the DR market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the demand response industry across North America, Europe, APAC, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of demand response market vendors

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Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

INFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases

DATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts

REPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The demand response (dr) market growth will increase by $1708.27 million during 2020-2025.
The demand response (dr) market is expected to grow at a CAGR of 6.02% during 2020-2025.
Technavio has segmented the demand response (dr) market by product (Hardware and software and Service) ,end user (Industrial, Residential, and Commercial) , and geographic (North America, Europe, APAC, South America, and MEA).
ABB Ltd., Cisco Systems Inc., Enel Spa, Honeywell International Inc., Itron Inc., LS Power Development LLC, Oracle Corp., Schneider Electric SE, Siemens AG, Toshiba Corp. are a few of the key vendors in the demand response (dr) market.
North America will register the highest growth rate of 59.26% among the other regions. Therefore, the demand response (dr) market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
  • US
  • Canada
  • UK
  • Germany
  • Japan
  • Australia
The key factors driving the demand response (dr) market growth are:
  • Increasing gap between electricity supply and demand
The demand response (dr) market vendors should focus on grabbing business opportunities from the hardware and software segment as it accounted for the largest market share in the base year.
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