Behavioral and Analytical Demand-Side Management Spending is Expected to Total $9.4 Billion from 2015 to 2024, According to Navigant Research
Utility resistance to new technologies presents a substantial
barrier to the market, report finds
A recent 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.
Behavioral and analytical DSM are both relatively new methods of
increasing energy savings beyond what traditional DSM systems can
achieve. Behavioral DSM tends to focus on educating consumers to
encourage more energy savings, while analytical DSM uses equipment
monitoring and data analytics to locate areas where additional savings
can be found. Click
to tweet: According to a recent report from @NavigantRSRCH,
behavioral and analytical DSM spending is expected to total $9.4 billion
from 2015 to 2024.
“Studies have shown that giving customers simpler ways to access energy
information from their power providers can boost customer satisfaction
and loyalty,” says Brett Feldman, principal research analyst with
Navigant Research. “More often, and in the energy industry specifically,
customers prefer to learn about new services through digital channels
like email, web portals, and mobile apps; these digital communications
grant another avenue to further the utility-customer relationship.”
Some utilities are resistant to the changing energy landscape and the
introduction of technologies that empower customers to better control
their energy consumption and bills, according to the report. Natural
skepticism and a resistance to change in the evolving energy space can
cause a major barrier to the wider implementation of behavioral and
analytical 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 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
Energy Technologies, Utility Transformations, Transportation
Efficiencies, and Buildings Innovations sectors. Additional information
about Navigant Research can be found at www.navigantresearch.com.
About Navigant
Navigant Consulting, Inc. is a specialized, global professional services
firm that helps clients take control of their future. Navigant’s
professionals apply deep industry knowledge, substantive technical
expertise, and an enterprising approach to help clients build, manage
and/or protect their business interests. With a focus on markets and
clients facing transformational change and significant regulatory or
legal pressures, the Firm primarily serves clients in the healthcare,
energy and financial services industries. Across a range of advisory,
consulting, outsourcing, and technology/analytics services, Navigant’s
practitioners bring sharp insight that pinpoints opportunities and
delivers powerful results. 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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