Behavioral and Analytical Demand-Side Management
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.
“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.
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.