London, 01 October 2014 – TechNavio, a global tech-focused research firm has announced the publication of its market research report on the Global DR Market 2014-2018.
About Demand Response (DR)
DR is a change in the electricity usage pattern of end customers from their usual consumption in response to a change in electricity prices or a change in incentive payments designed to encourage lower electricity usage during peak load issues. It is an essential way for utilities to manage system peaks by controlling customer loads.
The Global DR Market is expected to grow at a CAGR of 16.6 percent during the next four years.
The latest report by TechNavio focuses on an increase in smart meter deployment and other renewable energy installation, which help track frequent data exchanges between the meter and the utility. They allows consumers to have timely and easily accessible information about their usage.
“Fossil fuels remain the principal sources of power generation worldwide, though renewable energy sources are projected to grow rapidly. To maintain the stability of the grid, the supply and demand of electricity must be balanced. DR is a potential solution to help manage and reduce electricity demand during peak periods. It would also help meet unexpected demands on the grid if renewable energy sources were to become suddenly unavailable,” says Faisal Ghaus, Vice President of TechNavio.
Key Information Covered in the Report:
Market segmentation, size and forecast through 2018
Market Growth Drivers:
- Increased Electricity Cost
- For a full detailed list, view our report.
Market Challenges:
- Lack of Consumer Awareness
- For a full detailed list, view our report.
Market Trends:
- Smart Meter Deployment
- For a full detailed list, view our report.
Key Vendors:
- ABB Ltd.
- Honeywell International Inc.
- Johnson Controls Inc.
- Schneider Electric SE
Other Prominent Vendors:
- Comverge
- Eaton
- EnerNoc
- GE
https://www.technavio.com/%3Cp%3E%3Ca%20href%3D%22http%3A//www.technavio….
