The global installation of devices for Bring Your Own Device (BYOD) programmes will grow from 1.1 million in 2018 to 5.5 million in 2027.
Three market trends have been identified as BYOD programmes increase in North America and enter new markets worldwide include:
- Devices beyond thermostats are increasingly communicating with the electric power grid
- Broader BYOD programmes are exploring the energy efficiency applications of bring your own thermostat (BYOT) programmes
- BYOD programmes are expanding to include retail choice electricity suppliers in deregulated markets and energy service providers.
According to the report, three fundamental shifts are taking place as BYOD programmes continue to grow across North America and enter markets worldwide.
The move to the energy cloud is a key driver accelerating the implementation of BYOD programmes.
By using smart grid-interactive devices such as communicating thermostats consumers are able to optimise management of their energy use.
Brett Feldman, research director with Navigant Research, said: “We see drivers of the emerging BYOD initiatives as largely dependent on the regulatory landscape and business model contexts where a programme operates.
“Additionally, successful utility demand response programmes and distributed energy resources management system platform capabilities are helping to increase the number of BYOD programmes.”
For more information about the report, visit Bring Your Own Device DSM Programmes for Utilities and Retail Energy Suppliers