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Demand Response Market by Product, End-user, and Geography - Forecast and Analysis 2023-2027

  • Published: Jan 2023
  • Pages: 176
  • SKU: IRTNTR41453
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The demand response (DR) market is estimated to grow at a CAGR of 6.81% between 2022 and 2027. The size of the market is forecast to increase by USD 2,251.76 million. The growth of the market depends on serval factors, including the increasing gap between electricity supply and demand, growing demand for smart devices and analytics software, and increased cost of electricity. 

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 Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report consists of historic market data from 2017 to 2021.

What will be the size of the Demand Response (DR) Market During the Forecast Period?

Demand Response (DR) Market Size

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Parent Market Analysis

Technavio categorizes the global demand response (DR) market as a part of the global electric utilities market within the global utility market. The parent global electric utilities market covers companies that produce or distribute electricity, which includes both nuclear and non-nuclear facilities.  Our research report has extensively covered external factors influencing the parent market growth during the forecast period.

Demand Response (DR) Market: Key Drivers, Trends, Challenges, and Customer Landscape

The increasing gap between electricity supply and demand is notably driving the market growth, although factors such as the growing threat of hacking may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Demand Response (DR) Market Driver

The increasing gap between electricity supply and demand is notably driving market growth. The growing urbanization and population are increasing the need for electricity worldwide. This is creating a huge mismatch between electricity supply and demand for the last two decades. The shortage of coal is also affecting electricity generation processes, which is leading to a shortage in the electricity supply. Similarly, a variation in load demand to a greater extent throughout the year has become a major difficulty that further complicates the situation. Thus, utility and generation companies must constantly match supply and demand throughout the year to ensure the reliability of the power system.

The rising trend of variable generation resources, such as solar and wind, intensifies higher levels of non-dispatchable resources in the 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. Thus, 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. Therefore, such factors will boost the DR market growth during the forecast period. 

Significant Demand Response (DR) Market Trend

The increased generation of electricity from clean energy sources is an emerging trend in the market. The governments in many countries are now imposing regulations to increase the percentage of energy generated from clean sources. Following this requirement, various utilities are likely to allow electricity consumers to generate power through renewable sources. This will make traditional energy consumers become energy producers by allowing them to invest in clean energy sources, such as small rooftop solar systems and mid-sized wind farms. This will help electricity consumers to sell extra generation capacity back into the grid through DR programs. 

Furthermore, renewable energy technologies, such as solar and wind, have the ability to reduce greenhouse gas emissions and other adverse environmental impacts from electricity generation. Thus, multiple government initiatives worldwide on green energy production are going to attract new projects in the renewable energy sectors. Thus, the anticipation of the large-scale development of renewable power will simplify the implementation of DR programs and fuel the global DR market growth during the forecast period.

Major Demand Response (DR) Market Challenge

The growing threat of hacking is a major challenge impeding market growth. Strict authentication is essential while maintaining DR for electricity consumers through software. The rising number of end-users of DR poses a threat to these automation systems by making the data vulnerable to unauthorized access. Likewise, wireless devices, such as smart thermostats and smart meters, are highly prone to get hacked. Thus, information related to processes, people, and critical data becomes insecure. 

Moreover, DR management software provides an interface for all the hardware that comes under a utility's judication. An attempt to hack into one system in a network can compromise other systems, leading to a shattering crash down of the entire network. Besides these issues, a networked system also involves risks associated with unauthorized access to sensitive data, which can compromise the integrity and privacy of the consumer's building. Furthermore, the modern security threat stipulates dual authentication, multi-layer encryption, and physical tamper detection to protect its hardware, data transmission, and data storage from cyber-attacks. This high level of security may further increase the overall cost of DR solutions. Therefore, such factors will hinder the DR market growth during the forecast period. 

Key Demand Response (DR) Market Customer Landscape

The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Demand Response (DR) Market Share by Geography

Global Demand Response (DR) Market Customer Landscape

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

Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

ABB Ltd. - The company operates under multiple segments including electrification, and automation among others, with a high focus on electrification.? The company under this segment? offers electrification and building management solutions, products and services for utilities, industry, transport and infrastructure. The company's key offerings include?demand response systems.  

The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:

  • AutoGrid Systems Inc.
  • Cisco Systems Inc.
  • Eaton Corp. Plc
  • Encycle Corp.
  • Enel Spa
  • General Electric Co.
  • Hitachi Ltd.
  • Honeywell International Inc.
  • Itron Inc.
  • Johnson Controls International Plc.
  • Landis Gyr AG
  • Lockheed Martin Corp.
  • LS Power Development LLC
  • Mitsubishi Electric Corp.
  • Oracle Corp.

Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

What is the Fastest-Growing Segment in the Demand Response (DR) Market?

The market share growth by the hardware and software segment will be significant during the forecast period. The traditional DR methods increased the burden on customers to manage the programs and made wrong predictions occasionally due to erroneous calculations. On the other hand, hardware- and software-based DR systems first gained popularity in the US, owing to the availability of a large supportive infrastructure, such as internet connectivity and advanced technologies. Such aggregators have started pushing smart devices into the buildings, which has empowered them to control the appliance of end-users from remote locations. 

Demand Response (DR) Market Size

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The hardware and software segment was valued at USD 3,946.43 million in 2017 and continued to grow until 2021As hardware and software are intertwined, they cannot be excluded from the overall DR system. High-end software comprises a wide range of computing capabilities and offers advanced analytics tools to predict energy utilization more accurately. The software reduces the risk of inaccuracy that arises due to manual energy prediction models. During the forecast period, aggregators are expected to focus on developing or selling advanced software tools that will help utilities to enhance their analytics capabilities. These advanced types of software will integrate IoT, Big data, and cloud computing technology together to provide enhanced data computing ability to DR programs. Furthermore, by keeping technology at the forefront, the vendors focused their R&D expenses on hardware and software to provide highly sophisticated solutions to end-users. The IoT implementation in industrial and commercial sectors is likely to provide a great opportunity for the global demand response (DR) market by hardware and software during the forecast period. 

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

Demand Response (DR) Market Share by Geography

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North America is estimated to contribute 60% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

The US and Canada are the major revenue contributors to the market in North America, owing to the awareness among end-users about the benefits of DR programs. The US is the second largest energy consumer in the world after China. The rising levels of economic development are further stressing the importance of energy conservation and optimization in commercial facilities in the US. With a view to reducing energy requirements, utility companies are rapidly collaborating with DR aggregators to initiate several energy-saving programs. Similarly, government agencies in the US are constantly amending the directives for end-users and utilities to manage energy sustainably. This will continue to create market demand for DR in the US during the forecast period.

Furthermore, the US is witnessing a rising demand for electric trucks for both personal and commercial use, which is another factor driving the growth of the country's market. The contribution of North America to the global electric trucks market is mainly attributed to the widespread adoption and popularity of electric pickup trucks and other electric vehicles in the region. Electric trucks and other electric vehicles need high-power stations; therefore, the demand for charging stations with demand response grids is increasing. This factor, in turn, can boost the market in the region during the forecast period.

North America faced major economic distress due to the outbreak of COVID-19 in 2020, which led to a decline in the demand for DR in this region. However, with the lifting of lockdowns, business operations resumed in industries in 2021 in compliance with government-mandated safety measures. This is expected to have a positive impact on the growth of the regional DR market during the forecast period.

Segment Overview

The report forecasts market growth by revenue at global, regional & country levels and analyzes the latest trends and growth opportunities from 2017 to 2027. The market has been segmented by Product (Hardware and software, and Service), End-user (Industrial, Residential, and Commercial), and Geography (North America, Europe, APAC, South America, and Middle East and Africa).

  • Product Outlook (USD Million, 2017 - 2027)
    • Hardware and software
    • Service
  • End-user Outlook (USD Million, 2017 - 2027)
    • Industrial
    • Residential
    • Commercial
  • Region Outlook (USD Million, 2017 - 2027)
    • North America
      • The U.S.
      • Canada
    • Europe
      • The U.K.
      • Germany
      • France
      • Rest of Europe
    • APAC
      • China
      • India
    • Middle East & Africa
      • Saudi Arabia
      • South Africa
      • Rest of the Middle East & Africa
    • South America
      • Chile
      • Brazil
      • Argentina

Demand Response (DR) Market Scope

Report Coverage

Details

Page number

176

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 6.81%

Market growth 2023-2027

USD 2,251.76 million

Market structure

Fragmented

YoY growth 2022-2023(%)

6.53

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

North America at 60%

Key countries

US, Canada, Japan, UK, and Germany

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

ABB Ltd., AutoGrid Systems Inc., Cisco Systems Inc., Eaton Corp. Plc, Encycle Corp., Enel Spa, General Electric Co., Hitachi Ltd., Honeywell International Inc., Itron Inc., Johnson Controls International Plc., Landis Gyr AG, Lockheed Martin Corp., LS Power Development LLC, Mitsubishi Electric Corp., Oracle Corp., Schneider Electric SE, Siemens AG, Toshiba Corp., and ALSTOM SA

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. 

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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

  • CAGR of the market during the forecast period
  • Detailed information on factors that will drive the growth of the demand response (DR) market between 2023 and 2027
  • Precise estimation of the demand response (DR) market size and its contribution to the parent market
  • Accurate predictions about upcoming trends and changes in consumer behavior
  • Growth of the industry across North America, Europe, APAC, South America, and Middle East and Africa
  • A thorough analysis of the market’s competitive landscape and detailed information about vendors
  • Comprehensive analysis of factors that will challenge the growth of demand response (DR) market vendors

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
    • Exhibit 06: Executive Summary – Chart on Market Segmentation by End-user
    • Exhibit 07: Executive Summary – Chart on Incremental Growth
    • Exhibit 08: Executive Summary – Data Table on Incremental Growth
    • Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 10: Parent market
    • Exhibit 11: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 12: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 13: Market segments
  • 3.3 Market size 2022
    • 3.4 Market outlook: Forecast for 2022-2027
      • Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
      • Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
      • Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
      • Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

    4 Historic Market Size

    • 4.1 Global demand response (DR) market 2017 - 2021
      • Exhibit 18: Historic Market Size – Data Table on Global demand response (DR) market 2017 - 2021 ($ million)
    • 4.2 Product Segment Analysis 2017 - 2021
      • Exhibit 19: Historic Market Size – Product Segment 2017 - 2021 ($ million)
    • 4.3 End-user Segment Analysis 2017 - 2021
      • Exhibit 20: Historic Market Size – End-user Segment 2017 - 2021 ($ million)
    • 4.4 Geography Segment Analysis 2017 - 2021
      • Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)
    • 4.5 Country Segment Analysis 2017 - 2021
      • Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

    5 Five Forces Analysis

    • 5.1 Five forces summary
      • Exhibit 23: Five forces analysis - Comparison between 2022 and 2027
    • 5.2 Bargaining power of buyers
      • Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
    • 5.3 Bargaining power of suppliers
      • Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
    • 5.4 Threat of new entrants
      • Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
    • 5.5 Threat of substitutes
      • Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
    • 5.6 Threat of rivalry
      • Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
    • 5.7 Market condition
      • Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

    6 Market Segmentation by Product

    • 6.1 Market segments
      • Exhibit 30: Chart on Product - Market share 2022-2027 (%)
      • Exhibit 31: Data Table on Product - Market share 2022-2027 (%)
    • 6.2 Comparison by Product
      • Exhibit 32: Chart on Comparison by Product
      • Exhibit 33: Data Table on Comparison by Product
    • 6.3 Hardware and software - Market size and forecast 2022-2027
      • Exhibit 34: Chart on Hardware and software - Market size and forecast 2022-2027 ($ million)
      • Exhibit 35: Data Table on Hardware and software - Market size and forecast 2022-2027 ($ million)
      • Exhibit 36: Chart on Hardware and software - Year-over-year growth 2022-2027 (%)
      • Exhibit 37: Data Table on Hardware and software - Year-over-year growth 2022-2027 (%)
    • 6.4 Service - Market size and forecast 2022-2027
      • Exhibit 38: Chart on Service - Market size and forecast 2022-2027 ($ million)
      • Exhibit 39: Data Table on Service - Market size and forecast 2022-2027 ($ million)
      • Exhibit 40: Chart on Service - Year-over-year growth 2022-2027 (%)
      • Exhibit 41: Data Table on Service - Year-over-year growth 2022-2027 (%)
    • 6.5 Market opportunity by Product
      • Exhibit 42: Market opportunity by Product ($ million)

    7 Market Segmentation by End-user

    • 7.1 Market segments
      • Exhibit 43: Chart on End-user - Market share 2022-2027 (%)
      • Exhibit 44: Data Table on End-user - Market share 2022-2027 (%)
    • 7.2 Comparison by End-user
      • Exhibit 45: Chart on Comparison by End-user
      • Exhibit 46: Data Table on Comparison by End-user
    • 7.3 Industrial - Market size and forecast 2022-2027
      • Exhibit 47: Chart on Industrial - Market size and forecast 2022-2027 ($ million)
      • Exhibit 48: Data Table on Industrial - Market size and forecast 2022-2027 ($ million)
      • Exhibit 49: Chart on Industrial - Year-over-year growth 2022-2027 (%)
      • Exhibit 50: Data Table on Industrial - Year-over-year growth 2022-2027 (%)
    • 7.4 Residential - Market size and forecast 2022-2027
      • Exhibit 51: Chart on Residential - Market size and forecast 2022-2027 ($ million)
      • Exhibit 52: Data Table on Residential - Market size and forecast 2022-2027 ($ million)
      • Exhibit 53: Chart on Residential - Year-over-year growth 2022-2027 (%)
      • Exhibit 54: Data Table on Residential - Year-over-year growth 2022-2027 (%)
    • 7.5 Commercial - Market size and forecast 2022-2027
      • Exhibit 55: Chart on Commercial - Market size and forecast 2022-2027 ($ million)
      • Exhibit 56: Data Table on Commercial - Market size and forecast 2022-2027 ($ million)
      • Exhibit 57: Chart on Commercial - Year-over-year growth 2022-2027 (%)
      • Exhibit 58: Data Table on Commercial - Year-over-year growth 2022-2027 (%)
    • 7.6 Market opportunity by End-user
      • Exhibit 59: Market opportunity by End-user ($ million)

    8 Customer Landscape

    • 8.1 Customer landscape overview
      • Exhibit 60: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    9 Geographic Landscape

    • 9.1 Geographic segmentation
      • Exhibit 61: Chart on Market share by geography 2022-2027 (%)
      • Exhibit 62: Data Table on Market share by geography 2022-2027 (%)
    • 9.2 Geographic comparison
      • Exhibit 63: Chart on Geographic comparison
      • Exhibit 64: Data Table on Geographic comparison
    • 9.3 North America - Market size and forecast 2022-2027
      • Exhibit 65: Chart on North America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 66: Data Table on North America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 67: Chart on North America - Year-over-year growth 2022-2027 (%)
      • Exhibit 68: Data Table on North America - Year-over-year growth 2022-2027 (%)
    • 9.4 Europe - Market size and forecast 2022-2027
      • Exhibit 69: Chart on Europe - Market size and forecast 2022-2027 ($ million)
      • Exhibit 70: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
      • Exhibit 71: Chart on Europe - Year-over-year growth 2022-2027 (%)
      • Exhibit 72: Data Table on Europe - Year-over-year growth 2022-2027 (%)
    • 9.5 APAC - Market size and forecast 2022-2027
      • Exhibit 73: Chart on APAC - Market size and forecast 2022-2027 ($ million)
      • Exhibit 74: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
      • Exhibit 75: Chart on APAC - Year-over-year growth 2022-2027 (%)
      • Exhibit 76: Data Table on APAC - Year-over-year growth 2022-2027 (%)
    • 9.6 South America - Market size and forecast 2022-2027
      • Exhibit 77: Chart on South America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 78: Data Table on South America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 79: Chart on South America - Year-over-year growth 2022-2027 (%)
      • Exhibit 80: Data Table on South America - Year-over-year growth 2022-2027 (%)
    • 9.7 Middle East and Africa - Market size and forecast 2022-2027
      • Exhibit 81: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
      • Exhibit 82: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
      • Exhibit 83: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
      • Exhibit 84: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)
    • 9.8 US - Market size and forecast 2022-2027
      • Exhibit 85: Chart on US - Market size and forecast 2022-2027 ($ million)
      • Exhibit 86: Data Table on US - Market size and forecast 2022-2027 ($ million)
      • Exhibit 87: Chart on US - Year-over-year growth 2022-2027 (%)
      • Exhibit 88: Data Table on US - Year-over-year growth 2022-2027 (%)
    • 9.9 Canada - Market size and forecast 2022-2027
      • Exhibit 89: Chart on Canada - Market size and forecast 2022-2027 ($ million)
      • Exhibit 90: Data Table on Canada - Market size and forecast 2022-2027 ($ million)
      • Exhibit 91: Chart on Canada - Year-over-year growth 2022-2027 (%)
      • Exhibit 92: Data Table on Canada - Year-over-year growth 2022-2027 (%)
    • 9.10 UK - Market size and forecast 2022-2027
      • Exhibit 93: Chart on UK - Market size and forecast 2022-2027 ($ million)
      • Exhibit 94: Data Table on UK - Market size and forecast 2022-2027 ($ million)
      • Exhibit 95: Chart on UK - Year-over-year growth 2022-2027 (%)
      • Exhibit 96: Data Table on UK - Year-over-year growth 2022-2027 (%)
    • 9.11 Germany - Market size and forecast 2022-2027
      • Exhibit 97: Chart on Germany - Market size and forecast 2022-2027 ($ million)
      • Exhibit 98: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
      • Exhibit 99: Chart on Germany - Year-over-year growth 2022-2027 (%)
      • Exhibit 100: Data Table on Germany - Year-over-year growth 2022-2027 (%)
    • 9.12 Japan - Market size and forecast 2022-2027
      • Exhibit 101: Chart on Japan - Market size and forecast 2022-2027 ($ million)
      • Exhibit 102: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
      • Exhibit 103: Chart on Japan - Year-over-year growth 2022-2027 (%)
      • Exhibit 104: Data Table on Japan - Year-over-year growth 2022-2027 (%)
    • 9.13 Market opportunity by geography
      • Exhibit 105: Market opportunity by geography ($ million)

    10 Drivers, Challenges, and Trends

    • 10.1 Market drivers
      • 10.2 Market challenges
        • 10.3 Impact of drivers and challenges
          • Exhibit 106: Impact of drivers and challenges in 2022 and 2027
        • 10.4 Market trends

          11 Vendor Landscape

          • 11.1 Overview
            • 11.2 Vendor landscape
              • Exhibit 107: Overview on Criticality of inputs and Factors of differentiation
            • 11.3 Landscape disruption
              • Exhibit 108: Overview on factors of disruption
            • 11.4 Industry risks
              • Exhibit 109: Impact of key risks on business

            12 Vendor Analysis

            • 12.1 Vendors covered
              • Exhibit 110: Vendors covered
            • 12.2 Market positioning of vendors
              • Exhibit 111: Matrix on vendor position and classification
            • 12.3 ABB Ltd.
              • Exhibit 112: ABB Ltd. - Overview
              • Exhibit 113: ABB Ltd. - Business segments
              • Exhibit 114: ABB Ltd. - Key offerings
              • Exhibit 115: ABB Ltd. - Segment focus
            • 12.4 Cisco Systems Inc.
              • Exhibit 116: Cisco Systems Inc. - Overview
              • Exhibit 117: Cisco Systems Inc. - Business segments
              • Exhibit 118: Cisco Systems Inc. - Key news
              • Exhibit 119: Cisco Systems Inc. - Key offerings
              • Exhibit 120: Cisco Systems Inc. - Segment focus
            • 12.5 Eaton Corp. Plc
              • Exhibit 121: Eaton Corp. Plc - Overview
              • Exhibit 122: Eaton Corp. Plc - Business segments
              • Exhibit 123: Eaton Corp. Plc - Key news
              • Exhibit 124: Eaton Corp. Plc - Key offerings
              • Exhibit 125: Eaton Corp. Plc - Segment focus
            • 12.6 Enel Spa
              • Exhibit 126: Enel Spa - Overview
              • Exhibit 127: Enel Spa - Business segments
              • Exhibit 128: Enel Spa - Key offerings
              • Exhibit 129: Enel Spa - Segment focus
            • 12.7 General Electric Co.
              • Exhibit 130: General Electric Co. - Overview
              • Exhibit 131: General Electric Co. - Business segments
              • Exhibit 132: General Electric Co. - Key news
              • Exhibit 133: General Electric Co. - Key offerings
              • Exhibit 134: General Electric Co. - Segment focus
            • 12.8 Hitachi Ltd.
              • Exhibit 135: Hitachi Ltd. - Overview
              • Exhibit 136: Hitachi Ltd. - Business segments
              • Exhibit 137: Hitachi Ltd. - Key news
              • Exhibit 138: Hitachi Ltd. - Key offerings
              • Exhibit 139: Hitachi Ltd. - Segment focus
            • 12.9 Honeywell International Inc.
              • Exhibit 140: Honeywell International Inc. - Overview
              • Exhibit 141: Honeywell International Inc. - Business segments
              • Exhibit 142: Honeywell International Inc. - Key news
              • Exhibit 143: Honeywell International Inc. - Key offerings
              • Exhibit 144: Honeywell International Inc. - Segment focus
            • 12.10 Itron Inc.
              • Exhibit 145: Itron Inc. - Overview
              • Exhibit 146: Itron Inc. - Business segments
              • Exhibit 147: Itron Inc. - Key offerings
              • Exhibit 148: Itron Inc. - Segment focus
            • 12.11 Johnson Controls International Plc.
              • Exhibit 149: Johnson Controls International Plc. - Overview
              • Exhibit 150: Johnson Controls International Plc. - Business segments
              • Exhibit 151: Johnson Controls International Plc. - Key news
              • Exhibit 152: Johnson Controls International Plc. - Key offerings
              • Exhibit 153: Johnson Controls International Plc. - Segment focus
            • 12.12 LS Power Development LLC
              • Exhibit 154: LS Power Development LLC - Overview
              • Exhibit 155: LS Power Development LLC - Product / Service
              • Exhibit 156: LS Power Development LLC - Key offerings
            • 12.13 Mitsubishi Electric Corp.
              • Exhibit 157: Mitsubishi Electric Corp. - Overview
              • Exhibit 158: Mitsubishi Electric Corp. - Business segments
              • Exhibit 159: Mitsubishi Electric Corp. - Key news
              • Exhibit 160: Mitsubishi Electric Corp. - Key offerings
              • Exhibit 161: Mitsubishi Electric Corp. - Segment focus
            • 12.14 Oracle Corp.
              • Exhibit 162: Oracle Corp. - Overview
              • Exhibit 163: Oracle Corp. - Business segments
              • Exhibit 164: Oracle Corp. - Key news
              • Exhibit 165: Oracle Corp. - Key offerings
              • Exhibit 166: Oracle Corp. - Segment focus
            • 12.15 Schneider Electric SE
              • Exhibit 167: Schneider Electric SE - Overview
              • Exhibit 168: Schneider Electric SE - Business segments
              • Exhibit 169: Schneider Electric SE - Key news
              • Exhibit 170: Schneider Electric SE - Key offerings
              • Exhibit 171: Schneider Electric SE - Segment focus
            • 12.16 Siemens AG
              • Exhibit 172: Siemens AG - Overview
              • Exhibit 173: Siemens AG - Business segments
              • Exhibit 174: Siemens AG - Key news
              • Exhibit 175: Siemens AG - Key offerings
              • Exhibit 176: Siemens AG - Segment focus
            • 12.17 Toshiba Corp.
              • Exhibit 177: Toshiba Corp. - Overview
              • Exhibit 178: Toshiba Corp. - Business segments
              • Exhibit 179: Toshiba Corp. - Key offerings
              • Exhibit 180: Toshiba Corp. - Segment focus

            13 Appendix

            • 13.1 Scope of the report
              • 13.2 Inclusions and exclusions checklist
                • Exhibit 181: Inclusions checklist
                • Exhibit 182: Exclusions checklist
              • 13.3 Currency conversion rates for US$
                • Exhibit 183: Currency conversion rates for US$
              • 13.4 Research methodology
                • Exhibit 184: Research methodology
                • Exhibit 185: Validation techniques employed for market sizing
                • Exhibit 186: Information sources
              • 13.5 List of abbreviations
                • Exhibit 187: List of abbreviations

              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.

              TechnavioINFORMATION 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
              Technavio

              TechnavioDATA 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
              Technavio

              TechnavioREPORT 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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              Demand Response (DR) market growth will increase by $2251.76 million during 2023-2027.
              The demand response (dr) market is expected to grow at a CAGR of 6.81% during 2023-2027.
              Technavio has segmented the demand response (dr) market by product (Hardware, software, and Service) ,end-user (Industrial, Residential, and Commercial) , and geography (North America, Europe, APAC, South America, and Middle East and Africa).
              ABB Ltd., AutoGrid Systems Inc., Cisco Systems Inc., Eaton Corp. Plc, Encycle Corp., Enel Spa, General Electric Co., Hitachi Ltd., Honeywell International Inc., Itron Inc., Johnson Controls International Plc., Landis Gyr AG, Lockheed Martin Corp., LS Power Development LLC, Mitsubishi Electric Corp., Oracle Corp., Schneider Electric SE, Siemens AG, Toshiba Corp., ALSTOM SA are a few of the key vendors in the demand response (dr) market.
              North America will register the highest growth rate of 59.5% 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.
              The key factors driving the demand response (dr) market growth are:
              • Increasing gap between electricity supply and demand
              • Emerging concept of IoT
              The demand response (dr) market vendors should focus on grabbing business opportunities from the hardware segment as it accounted for the largest market share in the base year.
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