Behavioral and Analytical Demand-Side Management Spending is Expected to Reach $2.5 Billion in 2024, According to Navigant Research
Growth of the smart grid and smart meter deployments are driving
behavioral and analytical demand-side management, report finds
A new report from Navigant
Research analyzes the behavioral and analytical demand-side
management (DSM) market, including the residential and commercial and
industrial (C&I) sectors, with global market forecasts, through 2024.
The availability of energy usage data and the creation of software
platforms with data analytics have recently given way to new forms of
DSM. Behavioral and analytical DSM, which focus on consumer education,
individual participation, and finding opportunities for energy savings
through equipment monitoring and data analytics, have the potential to
deliver greater results to consumers than traditional programs. Click
to tweet: According to a new report from Navigant Research, global
behavioral and analytical DSM spending is expected to grow from $214.7
million in 2015 to $2.5 billion in 2024.
“Behavioral and analytical DSM methods have recently emerged as
discovering and promoting energy savings tools with the potential to
reduce costs for energy consumers,” says Paige Leuschner, research
associate with Navigant Research. “In addition to being a tool for
energy savings, utilities are also using these types of DSM as a means
for expanding solution offerings and enhancing customer engagement and
satisfaction.”
The growth of the smart grid and smart meter deployments have driven
interest in behavioral and analytical DSM, according to the report. The
resulting intelligence has become a tool for promoting energy
conservation and cost reduction, leading to greater customer
satisfaction for utilities and furthering investment in DSM programs.
The report, Behavioral
and Analytical Demand-Side Management, examines the global
behavioral and analytical DSM market, with a focus on two sectors:
residential and commercial and industrial (C&I). The study provides an
analysis of utility case studies and market issues, including drivers
and barriers, associated with behavioral and analytical DSM. Global
market forecasts for spending, segmented by category (behavioral and
analytical), sector, and region, extend through 2024. The report also
looks at the competitive landscape of behavioral and analytical DSM to
identify and highlight the strengths and challenges of key players in
the market. An Executive Summary of the report is available for free
download on the Navigant
Research website.
About Navigant Research
Navigant Research, the dedicated research arm of Navigant, provides
market research and benchmarking services for rapidly changing and often
highly regulated industries. In the energy sector, Navigant Research
focuses on in-depth analysis and reporting about global clean technology
markets. The team’s research methodology combines supply-side industry
analysis, end-user primary research and demand assessment, and deep
examination of technology trends to provide a comprehensive view of the
Smart Energy, Smart Utilities, Smart Transportation, and Smart Buildings
sectors. Additional information about Navigant Research can be found at www.navigantresearch.com.
About Navigant
Navigant Consulting, Inc. is an independent specialized, global
professional services firm that combines deep industry knowledge with
technical expertise to enable companies to defend, protect and create
value. With a focus on industries and clients facing transformational
change and significant regulatory and legal issues, the Firm serves
clients primarily in the healthcare, energy and financial services
sectors which represent highly complex market and regulatory
environments. Professional service offerings include strategic,
financial, operational, technology, risk management, compliance,
investigative solutions, dispute resolutions services and business
process management services. The Firm provides services to companies,
legal counsel and governmental agencies. The business is organized in
four reporting segments – Disputes, Investigations & Economics;
Financial, Risk & Compliance; Healthcare; and Energy. More information
about Navigant can be found at navigant.com.
* The information contained in this press release concerning the
report, Behavioral and Analytical Demand-Side Management, is a
summary and reflects Navigant Research’s current expectations based on
market data and trend analysis. Market predictions and expectations are
inherently uncertain and actual results may differ materially from those
contained in this press release or the report. Please refer to the full
report for a complete understanding of the assumptions underlying the
report’s conclusions and the methodologies used to create the report.
Neither Navigant Research nor Navigant undertakes any obligation to
update any of the information contained in this press release or the
report.
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