Industry-leading analysis firm Transparency Market Research has announced a new market report, detailing theglobal smart demand response market. The report, titled ‘Smart Demand Response Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2025’, explains key trends in the market. The report estimates the smart demand response market to reach a total valuation of US$51,479 million by the end of the forecast period at a CAGR of 21.6%.The report forecasts that the constantly increasing amount of power required in the modern world will inevitably lead to demand response programs. Government policies for smart demand response will aid the global market; the increasing deployment of smart grids all over the world is a factor expected to boost the global smart demand response market.
Browse the full Smart Demand Response Market (By End User – Residential, Commercial, and Industrial) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2025 report athttps://www.transparencymarketresearch.com/smart-demand-response.html
Demand response refers to technologies and devices used to reduce the peak electricity consumption of a consumer. This is more economically beneficial than adding electricity generators to supplement the existing supply. During peak demand periods, smart demand response systems manage the electricity consumption of a device or set of devices to minimize the amount of electrical power consumed by that unit. So far, the market for demand response has largely been limited to voluntary participation from the consumer, but the advent of smart grids is expected to revolutionize the process, automating demand response and thus boosting the global smart demand response market.
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