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Demand Side Management Market Size
- Report ID: GMI9435
- Published Date: May 2024
- Report Format: PDF
Demand Side Management Market Size
Demand Side Management Market surpassed USD 66.7 billion in 2023 and is set to register a CAGR of 12.9% between 2024 and 2032. With increasing emphasis on energy efficiency, sustainability, and grid optimization, utilities and energy providers are turning to DSM solutions to better manage energy consumption and demand. Additionally, rise of smart grid technologies and IoT devices allows for detailed real-time energy monitoring, aiding DSM program implementation.
For instance, in November 2022, ABB introduced ABB Ability OPTIMAX, energy management system, to the green hydrogen market, with the aim of reducing production costs by providing real-time visibility of energy consumption across operations.
Government policies and regulations exert considerable influence on the DSM market landscape. Incentive programs, energy efficiency mandates, and regulations encouraging demand response engagement are pivotal in prompting both utilities and consumers to embrace DSM measures. Tax credits, grants, and rebates targeting energy-efficient technologies and demand response initiatives serve as catalysts for businesses to integrate DSM practices, thereby propelling market expansion and fostering innovation.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Demand Side Management Market Size in 2023: | USD 66.7 Billion |
| Forecast Period: | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR: | 12.9% |
| 2032 Value Projection: | USD 201 Billion |
| Historical Data for: | 2021 - 2023 |
| No. of Pages: | 351 |
| Tables, Charts & Figures: | 454 |
| Segments covered: | Service, Technology Solutions and End Use |
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Demand Side Management Market Scope
