The global energy demand-side management market and new business models will generate up to $63.6 billion in spending through 2028, according to Navigant Research.
The research firm forecast growth in demand-side management to occur in all regions, with deeper savings in mature markets and new market share in regions with less programme penetration.
Driving the increase in demand-side management programmes is the growing adoption of demand response and energy efficiency measures to meet changing regulatory requirements on energy generation and climate change.
New distributed energy resource technologies and changing customer expectations have created opportunities for growth in the demand-side management market.
Jessie Mehrohoff, research analyst with Navigant , said: “Integrated DSM will also generate operational and capital savings for program providers in more mature markets.”
More efficient, intelligent hardware and programme management software are expected to offer streams of data that can be used to optimise both commercial and industrial (C&I) and residential energy ecosystems. Edge computing and data analytics is also likely to speed rates of actionable insights for DSM program providers.
For more information about the report, visit Demand Side Management Overview