Demand response (DR) market size is set to grow by USD 2,251.76 million from 2022-2027; The increasing gap between electricity supply and demand boosts the market- Technavio

NEW YORK, June 8, 2023 /PRNewswire/ -- The global demand response (DR) market size is estimated to grow by USD 2,251.76 million from 2022 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 6.81%. The growth momentum will be progressing during the forecast period. North America is estimated to account for 60% of the global market growth 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. For more insights on the historic period (2017 to 2021) and forecast market size (2023 to 2027) - Request a sample report

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Global Demand Response (DR) Market - Segmentation Assessment
Segment Overview
Technavio has segmented the market based on 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). 

• The market share growth by hardware and software segment will be significant for overall market growth during the forecast period. 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. 

Insights on the market contribution of various segments, including country and region wise historic data (2017 to 2021), and forecast market size (2023 to 2027) - Download a Sample Report

Global Demand Response (DR) Market – Market Dynamics
Key factor driving market growth

• The increasing gap between electricity supply and demand is notably driving market growth. 
• 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.
• 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. 

Leading trends influencing the market 

• 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.
• 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.
• The 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 challenges hindering the market growth

• The growing threat of hacking is a major challenge impeding market growth. 
• 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.
• 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. 

Get Insights on Market Drivers, trends, & Challenges, historic period(2017 to 2021) and forecast period(2023 to 2027)- Request a sample report!

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 size of the Demand Response (DR) Market size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the Demand Response (DR) Market 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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Table of Contents

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

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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