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Industrial Demand Side Management Market Trends

Report ID: GMI10558
Published Date: Jul 2024
Report Format: PDF

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Industrial Demand Side Management Market Trends

The Industrial Internet of Things (IIoT) is facilitating more sophisticated demand side management solutions. IIoT devices and systems provide detailed insights into energy usage, allowing for more precise and effective demand response strategies. DSM solutions are increasingly being tailored to meet the specific needs of various industries. Scalable and customizable solutions are being developed to address the unique energy requirements of different industrial sectors, from manufacturing to data centers. Industrial DSM programs are demonstrating significant economic benefits, including cost savings on energy bills and operational expenses. By optimizing energy use and participating in demand response programs, industries can achieve substantial financial gains.

Authors: Ankit Gupta, Vinayak Shukla

Frequently Asked Questions (FAQ) :

The market size of industrial demand side management was worth USD 24.5 billion in 2023 and will showcase about 11.8% CAGR through 2032, due to the adoption of advanced technologies such as smart meters, IoT sensors, and artificial intelligence.

The AMI meters technology segment is anticipated to record a CAGR of 11.4% through 2032, as they provide precise, real-time data on energy consumption, enabling detailed analysis and better load management.

Asia Pacific market for industrial demand side management is set to surpass USD 23.9 billion by 2032, as the governments across the region are implementing regulations and incentives to promote energy efficiency and demand response.

Dexma Sensors SL, Eaton, Emerson Electric Co., eSight Energy, General Electric, Rockwell Automation, Inc., Schneider Electric, Siemens, SkyFoundry, and Telkonet, Inc. among others.