Smart Demand Response Market Size, Industry Share, Price Trends, Capacity Forecasts to 2022

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Smart Demand Response Industry Share and Size, Market

Analysis, Trends and Growth, End-use And Segment

Forecasts To 2022

The global smart demand response market size is expected to reach USD 24.71 billion by 2022,

according to a new study by Grand View Research, Inc.

Increasing grid deployment is expected to favorably impact market growth. Demand response plays an

important role in electric grid operation by reducing electricity usage during peak hours.

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Introduction of grid technologies is expected to open avenues for the traditional energy infrastructure

vendors. Smart grids when coupled with metering systems; provide information on real time

consumption to the customers as well as suppliers.

Spread of ubiquitous wireless networks as well as internet access, along with the growing level of

intelligence built into HVAC systems, industrial controls, lighting networks and varied other big building

loads is expected to drive the automated DR market.

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Further key findings from the study suggest:

Residential segment is poised to grow at a CAGR higher than the global average, which is a direct

consequence of financial incentives and rebates offered by utilities to domestic customers to persuade

them in the participation of several direct load control programs. The participation of smart buildings in

DR programs to protect electrical grids for the duration of peak energy demand is expected to reduce

loads during high-cost periods, thereby reducing bills.

Industrial applications contributed to over 50% of the revenue in 2014; this large share can be attributed

to DR programs offered by several utilities for maximizing power utilization through adoption of high

efficiency variable speed drives and motors....