The North America Smart Demand Response Market would witness market growth of 16.4% CAGR during the forecast period (2023-2030).
The availability of energy management software and tools allows businesses to monitor and manage their energy usage more effectively, making it easier to participate in DR programs. The growth of renewable energy sources has created a need for more flexible and responsive grid management. DR can help balance the grid when these sources are intermittent. As the public becomes more informed about energy management and sustainability, there is an increased willingness to participate in DR programs and contribute to grid reliability.
DR is seen to improve overall energy efficiency. Businesses are adopting DR as part of their corporate social responsibility (CSR) efforts. Financial incentives, environmental concerns, technological advancements, regulatory support, and the increasing demand for energy efficiency and grid stability drive its technology’s adoption. As these factors continue to evolve and expand, the adoption of DR is expected to grow further in the coming years.
North America faces various energy challenges, including reducing peak demand, managing grid reliability, and integrating renewable energy sources. These challenges have driven the adoption of Smart DR solutions, which offer a more efficient and flexible approach to energy management. Regulatory bodies at the federal, state, and local levels in North America have introduced policies and incentives supporting its response's growth. Smart DR programs are crucial in optimizing energy usage, balancing the grid, and ensuring the efficient integration of renewable energy, contributing to Canada's sustainability goals and grid reliability. These aspects will drive the market expansion in this region.
The US region is dominated the North America Smart Demand Response Market, by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $20.8 Billion by 2030. The Canada region is anticipated a CAGR of 19% during (2023 - 2030). Additionally, The Mexico region would exhibit a CAGR of 18% during (2023 - 2030).
Based on Type, the market is segmented into Voluntary, and Contractual Mandatory. Based on Application, the market is segmented into Residential, Commercial, and Industrial. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Smart Demand Response Market is Predict to reach $79.6 Billion by 2030, at a CAGR of 17.1%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include ABB Group, Eaton Corporation PLC, Enel S.p.A, General Electric Company, Honeywell International, Inc., Johnson Controls International PLC, Oracle Corporation, Siemens AG, Schneider Electric SE and Itron, Inc.
Scope of the Study
Market Segments Covered in the Report:
By Type
- Voluntary
- Contractual Mandatory
By Application
- Residential
- Commercial
- Industrial
By Country
- US
- Canada
- Mexico
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- ABB Group
- Eaton Corporation PLC
- Enel S.p.A
- General Electric Company
- Honeywell International, Inc.
- Johnson Controls International PLC
- Oracle Corporation
- Siemens AG
- Schneider Electric SE
- Itron, Inc.
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 North America Smart Demand Response Market, by Type
1.4.2 North America Smart Demand Response Market, by Application
1.4.3 North America Smart Demand Response Market, by Country
1.5 Methodology for the research
Chapter 2. Market At a Glance
2.1 Key Highlights
Chapter 3. Market Overview
3.1 Introduction
3.1.1 Overview
3.1.1.1 Market Composition and Scenario
3.2 Key Factors Impacting the Market
3.2.1 Market Drivers
3.2.2 Market Restraints
Chapter 4. Competition Analysis - Global
4.1 KBV Cardinal Matrix
4.2 Recent Industry Wide Strategic Developments
4.2.1 Partnerships, Collaborations and Agreements
4.2.2 Product Launches and Product Expansions
4.2.3 Acquisition and Mergers
4.3 Top Winning Strategies
4.3.1 Key Leading Strategies: Percentage Distribution (2019-2023)
4.3.2 Key Strategic Move: (Partnerships, Collaborations & Agreements: 2019, Oct – 2023, Apr) Leading Players
4.4 Porter Five Forces Analysis
Chapter 5. North America Smart Demand Response Market, by Type
5.1 North America Voluntary Market, by Country
5.2 North America Contractual Mandatory Market, by Country
Chapter 6. North America Smart Demand Response Market, by Application
6.1 North America Residential Market, by Country
6.2 North America Commercial Market, by Country
6.3 North America Industrial Market, by Country
Chapter 7. North America Smart Demand Response Market, by Country
7.1 US Smart Demand Response Market
7.1.1 US Smart Demand Response Market, by Type
7.1.2 US Smart Demand Response Market, by Application
7.2 Canada Smart Demand Response Market
7.2.1 Canada Smart Demand Response Market, by Type
7.2.2 Canada Smart Demand Response Market, by Application
7.3 Mexico Smart Demand Response Market
7.3.1 Mexico Smart Demand Response Market, by Type
7.3.2 Mexico Smart Demand Response Market, by Application
7.4 Rest of North America Smart Demand Response Market
7.4.1 Rest of North America Smart Demand Response Market, by Type
7.4.2 Rest of North America Smart Demand Response Market, by Application
Chapter 8. Company Profiles
8.1 ABB Group
8.1.1 Company Overview
8.1.2 Financial Analysis
8.1.3 Segmental and Regional Analysis
8.1.4 Research & Development Expense
8.1.5 Recent strategies and developments:
8.1.5.1 Partnerships, Collaborations, and Agreements:
8.1.5.2 Product Launches and Product Expansions:
8.1.5.3 Acquisition and Mergers:
8.1.6 SWOT Analysis
8.2 Eaton Corporation PLC
8.2.1 Company Overview
8.2.2 Financial Analysis
8.2.3 Segmental and Regional Analysis
8.2.4 Research & Development Expense
8.2.5 Recent strategies and developments:
8.2.5.1 Partnerships, Collaborations, and Agreements:
8.2.6 SWOT Analysis
8.3 Siemens AG
8.3.1 Company Overview
8.3.2 Financial Analysis
8.3.3 Segmental and Regional Analysis
8.3.4 Research & Development Expense
8.3.5 Recent strategies and developments:
8.3.5.1 Partnerships, Collaborations, and Agreements:
8.3.5.2 Acquisition and Mergers:
8.3.6 SWOT Analysis
8.4 Schneider Electric SE
8.4.1 Company Overview
8.4.2 Financial Analysis
8.4.3 Segmental and Regional Analysis
8.4.4 Research & Development Expense
8.4.5 Recent strategies and developments:
8.4.5.1 Partnerships, Collaborations, and Agreements:
8.4.5.2 Acquisition and Mergers:
8.4.6 SWOT Analysis
8.5 Enel S.p.A
8.5.1 Company Overview
8.5.2 Financial Analysis
8.5.3 Segmental and Regional Analysis
8.5.4 Recent strategies and developments:
8.5.4.1 Partnerships, Collaborations, and Agreements:
8.5.4.2 Product Launches and Product Expansions:
8.5.5 SWOT Analysis
8.6 General Electric Company
8.6.1 Company Overview
8.6.2 Financial Analysis
8.6.3 Segmental and Regional Analysis
8.6.4 Research & Development Expense
8.6.5 Recent strategies and developments:
8.6.5.1 Partnerships, Collaborations, and Agreements:
8.6.6 SWOT Analysis
8.7 Honeywell International, Inc.
8.7.1 Company Overview
8.7.2 Financial Analysis
8.7.3 Segmental and Regional Analysis
8.7.4 Research & Development Expenses
8.7.5 Recent strategies and developments:
8.7.5.1 Partnerships, Collaborations, and Agreements:
8.7.5.2 Product Launches and Product Expansions:
8.7.6 SWOT Analysis
8.8 Johnson Controls International PLC
8.8.1 Company Overview
8.8.2 Financial Analysis
8.8.3 Segmental & Regional Analysis
8.8.4 Research & Development Expenses
8.8.5 Recent strategies and developments:
8.8.5.1 Acquisition and Mergers:
8.8.6 SWOT Analysis
8.9 Oracle Corporation
8.9.1 Company Overview
8.9.2 Financial Analysis
8.9.3 Segmental and Regional Analysis
8.9.4 Research & Development Expense
8.9.5 Recent strategies and developments:
8.9.5.1 Partnerships, Collaborations, and Agreements:
8.9.6 SWOT Analysis
8.10. Itron, Inc.
8.10.1 Company Overview
8.10.2 Financial Analysis
8.10.3 Segmental and Regional Analysis
8.10.4 Research & Development Expenses
8.10.5 Recent strategies and developments:
8.10.5.1 Partnerships, Collaborations, and Agreements:
8.10.6 SWOT Analysis
TABLE 1 North America Smart Demand Response Market, 2019 - 2022, USD Million
TABLE 2 North America Smart Demand Response Market, 2023 - 2030, USD Million
TABLE 3 Partnerships, Collaborations and Agreements– Smart Demand Response Market
TABLE 4 Product Launches And Product Expansions– Smart Demand Response Market
TABLE 5 Acquisition and Mergers– Smart Demand Response Market
TABLE 6 North America Smart Demand Response Market, by Type, 2019 - 2022, USD Million
TABLE 7 North America Smart Demand Response Market, by Type, 2023 - 2030, USD Million
TABLE 8 North America Voluntary Market, by Country, 2019 - 2022, USD Million
TABLE 9 North America Voluntary Market, by Country, 2023 - 2030, USD Million
TABLE 10 North America Contractual Mandatory Market, by Country, 2019 - 2022, USD Million
TABLE 11 North America Contractual Mandatory Market, by Country, 2023 - 2030, USD Million
TABLE 12 North America Smart Demand Response Market, by Application, 2019 - 2022, USD Million
TABLE 13 North America Smart Demand Response Market, by Application, 2023 - 2030, USD Million
TABLE 14 North America Residential Market, by Country, 2019 - 2022, USD Million
TABLE 15 North America Residential Market, by Country, 2023 - 2030, USD Million
TABLE 16 North America Commercial Market, by Country, 2019 - 2022, USD Million
TABLE 17 North America Commercial Market, by Country, 2023 - 2030, USD Million
TABLE 18 North America Industrial Market, by Country, 2019 - 2022, USD Million
TABLE 19 North America Industrial Market, by Country, 2023 - 2030, USD Million
TABLE 20 North America Smart Demand Response Market, by Country, 2019 - 2022, USD Million
TABLE 21 North America Smart Demand Response Market, by Country, 2023 - 2030, USD Million
TABLE 22 US Smart Demand Response Market, 2019 - 2022, USD Million
TABLE 23 US Smart Demand Response Market, 2023 - 2030, USD Million
TABLE 24 US Smart Demand Response Market, by Type, 2019 - 2022, USD Million
TABLE 25 US Smart Demand Response Market, by Type, 2023 - 2030, USD Million
TABLE 26 US Smart Demand Response Market, by Application, 2019 - 2022, USD Million
TABLE 27 US Smart Demand Response Market, by Application, 2023 - 2030, USD Million
TABLE 28 Canada Smart Demand Response Market, 2019 - 2022, USD Million
TABLE 29 Canada Smart Demand Response Market, 2023 - 2030, USD Million
TABLE 30 Canada Smart Demand Response Market, by Type, 2019 - 2022, USD Million
TABLE 31 Canada Smart Demand Response Market, by Type, 2023 - 2030, USD Million
TABLE 32 Canada Smart Demand Response Market, by Application, 2019 - 2022, USD Million
TABLE 33 Canada Smart Demand Response Market, by Application, 2023 - 2030, USD Million
TABLE 34 Mexico Smart Demand Response Market, 2019 - 2022, USD Million
TABLE 35 Mexico Smart Demand Response Market, 2023 - 2030, USD Million
TABLE 36 Mexico Smart Demand Response Market, by Type, 2019 - 2022, USD Million
TABLE 37 Mexico Smart Demand Response Market, by Type, 2023 - 2030, USD Million
TABLE 38 Mexico Smart Demand Response Market, by Application, 2019 - 2022, USD Million
TABLE 39 Mexico Smart Demand Response Market, by Application, 2023 - 2030, USD Million
TABLE 40 Rest of North America Smart Demand Response Market, 2019 - 2022, USD Million
TABLE 41 Rest of North America Smart Demand Response Market, 2023 - 2030, USD Million
TABLE 42 Rest of North America Smart Demand Response Market, by Type, 2019 - 2022, USD Million
TABLE 43 Rest of North America Smart Demand Response Market, by Type, 2023 - 2030, USD Million
TABLE 44 Rest of North America Smart Demand Response Market, by Application, 2019 - 2022, USD Million
TABLE 45 Rest of North America Smart Demand Response Market, by Application, 2023 - 2030, USD Million
TABLE 46 Key Information – ABB Group
TABLE 47 Key Information – Eaton Corporation PLC
TABLE 48 Key Information – Siemens AG
TABLE 49 Key Information – Schneider Electric SE
TABLE 50 Key Information – Enel S.p.A
TABLE 51 Key Information – General Electric Company
TABLE 52 Key Information – Honeywell International, Inc.
TABLE 53 Key Information – Johnson Controls International PLC
TABLE 54 Key Information – Oracle Corporation
TABLE 55 Key Information – Itron, Inc.
List of Figures
FIG 1 Methodology for the research
FIG 2 North America Smart Demand Response Market, 2019 - 2030, USD Million
FIG 3 Key Factors Impacting the Smart Demand Response Market
FIG 4 KBV Cardinal Matrix
FIG 5 Key Leading Strategies: Percentage Distribution (2019-2023)
FIG 6 Key Strategic Move: (Partnerships, Collaborations & Agreements: 2019, Oct – 2023, Apr) Leading Players
FIG 7 Porter’s Five Forces Analysis – Smart Demand Response Market
FIG 8 North America Smart Demand Response Market, Share by Type, 2022
FIG 9 North America Smart Demand Response Market, Share by Type, 2030
FIG 10 North America Smart Demand Response Market, by Type, 2019 - 2030, USD Million
FIG 11 North America Smart Demand Response Market, Share by Application, 2022
FIG 12 North America Smart Demand Response Market, Share by Application, 2030
FIG 13 North America Smart Demand Response Market, by Application, 2019 - 2030, USD Million
FIG 14 North America Smart Demand Response Market, Share by Country, 2022
FIG 15 North America Smart Demand Response Market, Share by Country, 2030
FIG 16 North America Smart Demand Response Market, by Country, 2019 - 2030, USD Million
FIG 17 Recent strategies and developments: ABB Group
FIG 18 SWOT Analysis: ABB Group
FIG 19 SWOT Analysis: Eaton Corporation PLC
FIG 20 Recent strategies and developments: Siemens AG
FIG 21 SWOT Analysis: Siemens AG
FIG 22 SWOT Analysis: Schneider Electric SE
FIG 23 Recent strategies and developments: Enel S.p.A
FIG 24 SWOT Analysis: Enel S.p.A
FIG 25 SWOT Analysis: General electric (GE) Co.
FIG 26 SWOT Analysis: Honeywell international, inc.
FIG 27 SWOT Analysis: Johnson Controls International PLC
FIG 28 SWOT Analysis: Oracle Corporation
FIG 29 SWOT Analysis: Itron, Inc.