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Press Release:

Global Smart Demand Response Market to Reach US$ 51.5 Billion by 2027, Impelled by Rising Need for Power Generation

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Smart Demand Response Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Market Overview:

The global smart demand response market reached a value of US$ 25.5 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 51.5 Billion by 2027, exhibiting a CAGR of 12.4% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.

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.

 

 
 

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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, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on application.

Breakup by Application:

 

 
 

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  • Residential
  • Commercial
  • Industrial
     

Breakup by Region:

 

 
 

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  • 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.

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
Historical Period 2016-2021
Forecast Period 2022-2027
Units US$ Billion
Segment Coverage Application, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered 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
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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$), 2016-2021
Figure 3: Global: Smart Demand Response Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 4: Global: Smart Demand Response Market: Breakup by Application (in %), 2021
Figure 5: Global: Smart Demand Response Market: Breakup by Region (in %), 2021
Figure 6: Global: Smart Demand Response (Residential) Market: Sales Value (in Million US$), 2016 & 2021
Figure 7: Global: Smart Demand Response (Residential) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 8: Global: Smart Demand Response (Commercial) Market: Sales Value (in Million US$), 2016 & 2021
Figure 9: Global: Smart Demand Response (Commercial) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 10: Global: Smart Demand Response (Industrial) Market: Sales Value (in Million US$), 2016 & 2021
Figure 11: Global: Smart Demand Response (Industrial) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 12: North America: Smart Demand Response Market: Sales Value (in Million US$), 2016 & 2021
Figure 13: North America: Smart Demand Response Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 14: United States: Smart Demand Response Market: Sales Value (in Million US$), 2016 & 2021
Figure 15: United States: Smart Demand Response Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 16: Canada: Smart Demand Response Market: Sales Value (in Million US$), 2016 & 2021
Figure 17: Canada: Smart Demand Response Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 18: Asia-Pacific: Smart Demand Response Market: Sales Value (in Million US$), 2016 & 2021
Figure 19: Asia-Pacific: Smart Demand Response Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 20: China: Smart Demand Response Market: Sales Value (in Million US$), 2016 & 2021
Figure 21: China: Smart Demand Response Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 22: Japan: Smart Demand Response Market: Sales Value (in Million US$), 2016 & 2021
Figure 23: Japan: Smart Demand Response Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 24: India: Smart Demand Response Market: Sales Value (in Million US$), 2016 & 2021
Figure 25: India: Smart Demand Response Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 26: South Korea: Smart Demand Response Market: Sales Value (in Million US$), 2016 & 2021
Figure 27: South Korea: Smart Demand Response Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 28: Australia: Smart Demand Response Market: Sales Value (in Million US$), 2016 & 2021
Figure 29: Australia: Smart Demand Response Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 30: Indonesia: Smart Demand Response Market: Sales Value (in Million US$), 2016 & 2021
Figure 31: Indonesia: Smart Demand Response Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 32: Others: Smart Demand Response Market: Sales Value (in Million US$), 2016 & 2021
Figure 33: Others: Smart Demand Response Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 34: Europe: Smart Demand Response Market: Sales Value (in Million US$), 2016 & 2021
Figure 35: Europe: Smart Demand Response Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 36: Germany: Smart Demand Response Market: Sales Value (in Million US$), 2016 & 2021
Figure 37: Germany: Smart Demand Response Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 38: France: Smart Demand Response Market: Sales Value (in Million US$), 2016 & 2021
Figure 39: France: Smart Demand Response Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 40: United Kingdom: Smart Demand Response Market: Sales Value (in Million US$), 2016 & 2021
Figure 41: United Kingdom: Smart Demand Response Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 42: Italy: Smart Demand Response Market: Sales Value (in Million US$), 2016 & 2021
Figure 43: Italy: Smart Demand Response Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 44: Spain: Smart Demand Response Market: Sales Value (in Million US$), 2016 & 2021
Figure 45: Spain: Smart Demand Response Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 46: Russia: Smart Demand Response Market: Sales Value (in Million US$), 2016 & 2021
Figure 47: Russia: Smart Demand Response Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 48: Others: Smart Demand Response Market: Sales Value (in Million US$), 2016 & 2021
Figure 49: Others: Smart Demand Response Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 50: Latin America: Smart Demand Response Market: Sales Value (in Million US$), 2016 & 2021
Figure 51: Latin America: Smart Demand Response Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 52: Brazil: Smart Demand Response Market: Sales Value (in Million US$), 2016 & 2021
Figure 53: Brazil: Smart Demand Response Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 54: Mexico: Smart Demand Response Market: Sales Value (in Million US$), 2016 & 2021
Figure 55: Mexico: Smart Demand Response Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 56: Others: Smart Demand Response Market: Sales Value (in Million US$), 2016 & 2021
Figure 57: Others: Smart Demand Response Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 58: Middle East and Africa: Smart Demand Response Market: Sales Value (in Million US$), 2016 & 2021
Figure 59: Middle East and Africa: Smart Demand Response Market: Breakup by Country (in %), 2021
Figure 60: Middle East and Africa: Smart Demand Response Market Forecast: Sales Value (in Million US$), 2022-2027
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, 2021 and 2027
Table 2: Global: Smart Demand Response Market Forecast: Breakup by Application (in Million US$), 2022-2027
Table 3: Global: Smart Demand Response Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 4: Global: Smart Demand Response Market: Competitive Structure
Table 5: Global: Smart Demand Response Market: Key Players


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Key Questions Answered in This Report

The global smart demand response market was valued at US$ 25.5 Billion in 2021.

We expect the global smart demand response market to exhibit a CAGR of 12.4% during 2022-2027.

 

The sudden outbreak of the COVID-19 pandemic has led to the growing adoption of smart demand response to shift the energy consumption across the residential sector, during remote working model.

The rising integration of smart grids with smart demand response systems for intercepting peak load problems and utilizing automatic switching to divert and optimize power consumption, is primarily driving the global smart demand response market.

Based on the application, the global smart demand response market can be categorized into residential, commercial, and industrial. Currently, the industrial sector accounts for the majority of the global market share.

 

On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where Asia-Pacific currently dominates the global market.

 

Some of the major players in the global smart demand response market include 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.

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