Los Angeles, CA -- (SBWIRE) -- 03/14/2019 -- Demand response (DR) is defined as the change in power consumption by a utility's customers to reduce the gap between demand and supply of electricity. DR solutions help capture the benefits of time-based rates or financial incentives by consumers. This is done by reducing or shifting their electricity consumption during the peak hours of demand. DR further helps electricity providers to decrease costs by reducing the peak demand and prevents power companies from investing in new plants to meet the excess energy demand. Thus, the power and energy industries consider DR programs as an extremely valuable resource whose capabilities are expanded by grid modernization efforts.
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The emergence of data-driven demand response will be one of the major trends that will gain traction in the DR market during the next few years. With the help of high-end data analytics software, the manufacturers in this marketspace are offering personalized DR services. The high-end analytics software makes personalized services easy and flexible for the aggregators. The aggregators can build a virtual model for energy usage and use the model as a forecasting tool after analyzing the customer's past trend of electricity utilization, which will ensure low energy costs.
The market is moderately competitive and fragmented due to the presence of several established manufacturers who account for the major market shares. The established market players face intense competition from the new market entrants especially based on factors such as price and solution offerings.
One of the major factors hindering the growth of this market is growing threat of hacking. Strict authentication is essential while maintaining DR for electricity consumers through software. The rising number of users in DR pose 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 getting hacked. Thus, information related to processes, people, and critical data become insecure.
The global Demand Response (DR) market is valued at xx million US$ in 2018 is expected to reach xx million US$ by the end of 2025, growing at a CAGR of xx% during 2019-2025.
This report focuses on Demand Response (DR) volume and value at global level, regional level and company level. From a global perspective, this report represents overall Demand Response (DR) market size by analyzing historical data and future prospect. Regionally, this report focuses on several key regions: North America, Europe, China and Japan.
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At company level, this report focuses on the production capacity, ex-factory price, revenue and market share for each manufacturer covered in this report.
The following manufacturers are covered:
Segment by Regions
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