The Asia Pacific Smart Demand Response Market would witness market growth of 17.8% CAGR during the forecast period (2023-2030).
As power grids are modernized and made smarter, the potential for demand response becomes even more significant. Smart grids enable real-time communication between utilities and consumers, making demand response programs more efficient. Demand response is used in various residential, commercial, and industrial sectors. Residential consumers can reduce their electricity usage during peak hours, while commercial and industrial facilities can participate in more complex demand response programs. The benefits of Smart DR are numerous. Utilities can avoid building expensive peak power plants, reduce congestion, and improve grid reliability.
Homeowners can use smart thermostats to adjust heating and cooling systems automatically to reduce energy consumption during peak hours. Consumers can schedule energy-intensive tasks like laundry and dishwashing during off-peak hours to save on electricity costs. Commercial facilities use BEMS to control lighting, HVAC systems, and other equipment to lower energy consumption during peak periods. Businesses can voluntarily reduce non-essential loads during peak demand periods to lower electricity costs. Factories and industrial plants adjust production schedules to reduce energy-intensive processes during peak hours.
The allocation of funds for demand response infrastructure in the Asia Pacific region has contributed significantly to the growth and development of the market as the region faces a growing need for efficient energy management, grid reliability, and sustainability. The availability of funds in Asia Pacific has fostered market development by attracting technology providers, service companies, and utilities to invest in Smart DR solutions. Smart DR leverages these modernization efforts by integrating advanced metering and control systems, allowing for more efficient demand response. The aforementioned factors will expand the market growth across the region.
The China region dominated the Asia Pacific Smart Demand Response Market, by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $6.6 Billion by 2030. The Japan region is registering a CAGR of 17% during (2023 - 2030). Additionally, The India region would showcase a CAGR of 18.6% 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 China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Global 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
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
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 Asia Pacific Smart Demand Response Market, by Type
1.4.2 Asia Pacific Smart Demand Response Market, by Application
1.4.3 Asia Pacific 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. Asia Pacific Smart Demand Response Market, by Type
5.1 Asia Pacific Voluntary Market, by Country
5.2 Asia Pacific Contractual Mandatory Market, by Country
Chapter 6. Asia Pacific Smart Demand Response Market, by Application
6.1 Asia Pacific Residential Market, by Country
6.2 Asia Pacific Commercial Market, by Country
6.3 Asia Pacific Industrial Market, by Country
Chapter 7. Asia Pacific Smart Demand Response Market, by Country
7.1 China Smart Demand Response Market
7.1.1 China Smart Demand Response Market, by Type
7.1.2 China Smart Demand Response Market, by Application
7.2 Japan Smart Demand Response Market
7.2.1 Japan Smart Demand Response Market, by Type
7.2.2 Japan Smart Demand Response Market, by Application
7.3 India Smart Demand Response Market
7.3.1 India Smart Demand Response Market, by Type
7.3.2 India Smart Demand Response Market, by Application
7.4 South Korea Smart Demand Response Market
7.4.1 South Korea Smart Demand Response Market, by Type
7.4.2 South Korea Smart Demand Response Market, by Application
7.5 Singapore Smart Demand Response Market
7.5.1 Singapore Smart Demand Response Market, by Type
7.5.2 Singapore Smart Demand Response Market, by Application
7.6 Malaysia Smart Demand Response Market
7.6.1 Malaysia Smart Demand Response Market, by Type
7.6.2 Malaysia Smart Demand Response Market, by Application
7.7 Rest of Asia Pacific Smart Demand Response Market
7.7.1 Rest of Asia Pacific Smart Demand Response Market, by Type
7.7.2 Rest of Asia Pacific 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 Asia Pacific Smart Demand Response Market, 2019 - 2022, USD Million
TABLE 2 Asia Pacific 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 Asia Pacific Smart Demand Response Market, by Type, 2019 - 2022, USD Million
TABLE 7 Asia Pacific Smart Demand Response Market, by Type, 2023 - 2030, USD Million
TABLE 8 Asia Pacific Voluntary Market, by Country, 2019 - 2022, USD Million
TABLE 9 Asia Pacific Voluntary Market, by Country, 2023 - 2030, USD Million
TABLE 10 Asia Pacific Contractual Mandatory Market, by Country, 2019 - 2022, USD Million
TABLE 11 Asia Pacific Contractual Mandatory Market, by Country, 2023 - 2030, USD Million
TABLE 12 Asia Pacific Smart Demand Response Market, by Application, 2019 - 2022, USD Million
TABLE 13 Asia Pacific Smart Demand Response Market, by Application, 2023 - 2030, USD Million
TABLE 14 Asia Pacific Residential Market, by Country, 2019 - 2022, USD Million
TABLE 15 Asia Pacific Residential Market, by Country, 2023 - 2030, USD Million
TABLE 16 Asia Pacific Commercial Market, by Country, 2019 - 2022, USD Million
TABLE 17 Asia Pacific Commercial Market, by Country, 2023 - 2030, USD Million
TABLE 18 Asia Pacific Industrial Market, by Country, 2019 - 2022, USD Million
TABLE 19 Asia Pacific Industrial Market, by Country, 2023 - 2030, USD Million
TABLE 20 Asia Pacific Smart Demand Response Market, by Country, 2019 - 2022, USD Million
TABLE 21 Asia Pacific Smart Demand Response Market, by Country, 2023 - 2030, USD Million
TABLE 22 China Smart Demand Response Market, 2019 - 2022, USD Million
TABLE 23 China Smart Demand Response Market, 2023 - 2030, USD Million
TABLE 24 China Smart Demand Response Market, by Type, 2019 - 2022, USD Million
TABLE 25 China Smart Demand Response Market, by Type, 2023 - 2030, USD Million
TABLE 26 China Smart Demand Response Market, by Application, 2019 - 2022, USD Million
TABLE 27 China Smart Demand Response Market, by Application, 2023 - 2030, USD Million
TABLE 28 Japan Smart Demand Response Market, 2019 - 2022, USD Million
TABLE 29 Japan Smart Demand Response Market, 2023 - 2030, USD Million
TABLE 30 Japan Smart Demand Response Market, by Type, 2019 - 2022, USD Million
TABLE 31 Japan Smart Demand Response Market, by Type, 2023 - 2030, USD Million
TABLE 32 Japan Smart Demand Response Market, by Application, 2019 - 2022, USD Million
TABLE 33 Japan Smart Demand Response Market, by Application, 2023 - 2030, USD Million
TABLE 34 India Smart Demand Response Market, 2019 - 2022, USD Million
TABLE 35 India Smart Demand Response Market, 2023 - 2030, USD Million
TABLE 36 India Smart Demand Response Market, by Type, 2019 - 2022, USD Million
TABLE 37 India Smart Demand Response Market, by Type, 2023 - 2030, USD Million
TABLE 38 India Smart Demand Response Market, by Application, 2019 - 2022, USD Million
TABLE 39 India Smart Demand Response Market, by Application, 2023 - 2030, USD Million
TABLE 40 South Korea Smart Demand Response Market, 2019 - 2022, USD Million
TABLE 41 South Korea Smart Demand Response Market, 2023 - 2030, USD Million
TABLE 42 South Korea Smart Demand Response Market, by Type, 2019 - 2022, USD Million
TABLE 43 South Korea Smart Demand Response Market, by Type, 2023 - 2030, USD Million
TABLE 44 South Korea Smart Demand Response Market, by Application, 2019 - 2022, USD Million
TABLE 45 South Korea Smart Demand Response Market, by Application, 2023 - 2030, USD Million
TABLE 46 Singapore Smart Demand Response Market, 2019 - 2022, USD Million
TABLE 47 Singapore Smart Demand Response Market, 2023 - 2030, USD Million
TABLE 48 Singapore Smart Demand Response Market, by Type, 2019 - 2022, USD Million
TABLE 49 Singapore Smart Demand Response Market, by Type, 2023 - 2030, USD Million
TABLE 50 Singapore Smart Demand Response Market, by Application, 2019 - 2022, USD Million
TABLE 51 Singapore Smart Demand Response Market, by Application, 2023 - 2030, USD Million
TABLE 52 Malaysia Smart Demand Response Market, 2019 - 2022, USD Million
TABLE 53 Malaysia Smart Demand Response Market, 2023 - 2030, USD Million
TABLE 54 Malaysia Smart Demand Response Market, by Type, 2019 - 2022, USD Million
TABLE 55 Malaysia Smart Demand Response Market, by Type, 2023 - 2030, USD Million
TABLE 56 Malaysia Smart Demand Response Market, by Application, 2019 - 2022, USD Million
TABLE 57 Malaysia Smart Demand Response Market, by Application, 2023 - 2030, USD Million
TABLE 58 Rest of Asia Pacific Smart Demand Response Market, 2019 - 2022, USD Million
TABLE 59 Rest of Asia Pacific Smart Demand Response Market, 2023 - 2030, USD Million
TABLE 60 Rest of Asia Pacific Smart Demand Response Market, by Type, 2019 - 2022, USD Million
TABLE 61 Rest of Asia Pacific Smart Demand Response Market, by Type, 2023 - 2030, USD Million
TABLE 62 Rest of Asia Pacific Smart Demand Response Market, by Application, 2019 - 2022, USD Million
TABLE 63 Rest of Asia Pacific Smart Demand Response Market, by Application, 2023 - 2030, USD Million
TABLE 64 Key Information – ABB Group
TABLE 65 Key Information – Eaton Corporation PLC
TABLE 66 Key Information – Siemens AG
TABLE 67 Key Information – Schneider Electric SE
TABLE 68 Key Information – Enel S.p.A
TABLE 69 Key Information – General Electric Company
TABLE 70 Key Information – Honeywell International, Inc.
TABLE 71 Key Information – Johnson Controls International PLC
TABLE 72 Key Information – Oracle Corporation
TABLE 73 Key Information – Itron, Inc.
List of Figures
FIG 1 Methodology for the research
FIG 2 Asia Pacific 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 Asia Pacific Smart Demand Response Market, Share by Type, 2022
FIG 9 Asia Pacific Smart Demand Response Market, Share by Type, 2030
FIG 10 Asia Pacific Smart Demand Response Market, by Type, 2019 - 2030, USD Million
FIG 11 Asia Pacific Smart Demand Response Market, Share by Application, 2022
FIG 12 Asia Pacific Smart Demand Response Market, Share by Application, 2030
FIG 13 Asia Pacific Smart Demand Response Market, by Application, 2019 - 2030, USD Million
FIG 14 Asia Pacific Smart Demand Response Market, Share by Country, 2022
FIG 15 Asia Pacific Smart Demand Response Market, Share by Country, 2030
FIG 16 Asia Pacific 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.