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Demand Side Management Market Trends

Report ID: GMI9435
Published Date: May 2024
Report Format: PDF

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Demand Side Management Market Trends

Market is experiencing significant trends which are influencing market dynamics. Growing emphasis on data analytics and predictive modelling is evident in optimizing energy consumption and demand response strategies. Utilities and energy providers are progressively utilizing advanced analytics to predict demand patterns and enact tailored DSM initiatives. Furthermore, adoption of cloud-based DSM platforms is increasing, offering scalability and flexibility. Utilities are shifting towards customer-centric DSM strategies, engaging consumers through innovative demand management programs. Investment by market players in energy sector is also fuelling the market growth. For instance, in August 2023, Eaton invested USD 500 million in America to support electrification, energy transition, and digitalization across industries, meeting rising demand for its electrical solutions.

Authors: Ankit Gupta, Vinayak Shukla

Frequently Asked Questions (FAQ) :

Market size for demand side management was worth USD 66.7 billion in 2023 and will further grow at 12.9% CAGR during 2024-2032, driven by favorable government policies and regulations.

Demand response service segment held a decent market share in 2023 and will surpass USD 135.6 million by 2032, as it enables cost savings for both utilities and consumers by avoiding need for expensive infrastructure upgrades to meet peak demand.

Asia Pacific demand side management market held a decent market in 2023 and will exceed USD 80.1 billion during 2024-2032, driven by rapid urbanization and economic growth.

C3.ai, Inc, Dexma Sensors SL, Eaton, Emerson Electric Co., eSight Energy, General Electric, Honeywell International Inc., International Business Machines Corporation (IBM), Johnson Controls among others.