Demand Response Market to Propel to $3.5 Billion by 2025 aided by IoT-enabled Systems

Frost & Sullivan's recent analysis, European Demand Response (DR) Market, 2018–2025, includes revenue forecasts, discussion on the competitive structure, and market share analysis. The base year of the study is 2017, and the forecast period is 2018 to 2025.

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"The rising installation of smart meters, influx of new energy service companies (ESCOs) and specifically technology-savvy start-ups are expected to play a huge role in impelling the $0.9 billion market toward $3.5 billion by 2025," said Swagath Navin Manohar,Research Analyst,Energy & Environment. "As smart cities are mushrooming all over the region, DR systems with Big Data, predictive analytics, Artificial Intelligence (AI) and the Internet of Things (IoT) will inevitably attract greater interest from utilities, aggregators, and other software companies."

Utilities and DR aggregators will invest substantially in innovative DR technologies and predictive tools to reduce power generation costs as well as grid failures and outages. DR will especially thrive in the residential sector, electric vehicles (EVs), and data center application segments. Their combined share is projected to increase from 5 percent in 2017 to 15 percent by 2025.

ESCOs or aggregators looking to establish a strong presence in this market need to target countries or regions with a wide installed base of renewable energy systems (RES), high electricity prices, and favorable policies and regulations.

Other significant growth opportunities highlighted in the analysis include:

"Utilities, aggregators, software solution providers, data analytics firms, and communication vendors are expected to increasingly consolidate to offer best-in-class service to end users," noted Manohar. "Meanwhile, in emerging markets, investments in cost allocations and tariff structures will drive the commercialization of DR programs, even beyond 2020."

European Demand Response (DR) Market, 2018–2025 is part of Frost & Sullivan's global Distributed Energy Growth Partnership Service program.

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European Demand Response (DR) Market, 2018–2025
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