Press release
Smart Demand Response Market Developments in IoT and AI Applications
Smart Demand Response Market
The global Smart Demand Response (SDR) market is poised for significant growth, projected to reach USD 29.63 billion by 2030, expanding at a CAGR of 11.1% from its 2023 valuation of USD 14.18 billion. This growth is fueled by the increasing integration of smart grids, IoT technologies, and supportive government policies aimed at enhancing energy efficiency and grid reliability.
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► Competitive Landscape and Regional Demand
The SDR market is characterized by a diverse array of key players, including ABB, General Electric, Honeywell International Inc., Schneider Electric, Siemens AG, AutoGrid, and Itron Inc. These companies are actively investing in innovative technologies and strategic partnerships to strengthen their market positions. Notably, the Asia Pacific region is experiencing heightened demand, driven by rapid urbanization and governmental initiatives promoting smart energy solutions.
• United States: Growth and Consolidation in Smart Demand Response
The United States leads the SDR market, accounting for a significant share due to its advanced energy infrastructure and proactive energy efficiency programs. In 2023, North America dominated the market with a 44% share, reflecting the region's commitment to integrating smart technologies into energy management.
Recent mergers and acquisitions have further consolidated the U.S. market. For instance, in July 2022, CPower acquired the U.S. demand response division of Centrica, enhancing its capabilities in providing grid flexibility and reliability.
• Asia Pacific: Opportunities and Trends in Smart Demand Response
Asia Pacific is anticipated to register the highest CAGR of 21.0% over the forecast period, driven by the widespread adoption of smart meters and supportive governmental policies. In 2023, the region accounted for over 18% of the global SDR market revenue.
Key developments include Tata Power's collaboration with AutoGrid in February 2023 to launch an AI-powered smart energy management system in Mumbai, aiming to involve 55,000 residential and 6,000 commercial and industrial clients.
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• Middle East and Africa: Emerging Trends and Updation in Smart Demand Response
The Middle East and Africa (MEA) region are witnessing emerging trends in SDR, with governments investing in smart grid projects to enhance energy efficiency. The proliferation of wireless networks and integration of advanced technologies into building management systems are boosting the automated demand response market in the region.
Strategic mergers and acquisitions are facilitating the expansion of key players into the MEA market, leveraging the region's growing demand for smart energy solutions.
• Europe: Consolidation and Growth in Smart Demand Response
Europe is experiencing consolidation in the SDR market, with significant mergers and acquisitions shaping the competitive landscape. In December 2024, Iberdrola announced plans to sell its UK smart metering business, managing over 2.5 million smart meters, aiming to raise approximately 1 billion pounds.
Additionally, private equity firm EQT and Singapore's sovereign wealth fund GIC acquired a majority stake in Calisen, while Arcus' Horizon Energy Infrastructure merged with KKR's Smart Metering Systems, reflecting the region's dynamic market activities.
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► Market Segmentation: In-Depth Analysis:
• by End-User
Residential
Commercial
Industrial
Due to financial incentives and rebates provided by Values to domestic customers to encourage their participation in various direct load control programs, the residential end-user segment is expected to expand at a compound annual growth rate (CAGR) that is higher than the global average. Smart buildings and homes' contribution to disaster recovery plans to protect electrical systems during periods of high energy demand is probably going to lower loads during those times, which will lower rates.
• by Type
Voluntary
Contractual Mandatory
• by Enterprise Size
Large Enterprises
Small & Medium Enterprises
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► Learn about the top players driving innovation in the Market :
1. ABB
2. Comverge, Inc.
3. Eaton Corporation Plc
4. EnerNOC, Inc.
5. General Electric
6. Honeywell International, Inc.
7. Johnson Controls, Inc.
8. Itron, Inc.
9. Landis+Gyr
10.Opower, Inc.
11. Schneider Electric
12. Siemens AG
13. AutoGrid
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