Smart Cities

Demand Response set to be a ‘Multi-Billion Market by 2016′

Demand response (DR) continues to evolve as the smart grid’s “killer application”, leveraging technology infrastructure to deliver measurable value to utilities, grid operators, and customers alike. The demand response market encompasses hardware, software, and services, but it is the services sector that is defining the future direction of the business, both within the United States which is the leading market for DR, as well as in Europe and Asia Pacific, where the DR market is developing quickly. The DR services market is segmented into three main areas: curtailment services, systems integration/consulting services, and outsourcing services. Because the DR services sector still represents an evolving market, it is currently relatively small with an estimated worldwide spending of $1.3 billion in 2011. Thanks to a variety of positive market forces, especially the widespread installations of smart meters, this market is projected to experience a robust compound annual growth (CAGR) rate of 37% to become a multi-billion market […]

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