Utility Dive recently reviewed a new report from Navigant which found that spending is set to take off worldwide as emerging technologies and a push to limit energy use expand the global market.
Their research revealed how global demand response spending is anticipated to grow from $183.8 million in 2015 to more than $1.3 billion in 2024. As pilot programs start up throughout the rest of the world, the United States could see its leadership position in the demand response space fall apart.
85% of the world market is dominated by U.S. spending. However, Navigant researchers revealed how in just ten years, North America’s share of global spending will decline to about 45% as more countries integrate demand response into their energy mix.
For example, they explained how the most rapid growth is likely to occur in the Asia Pacific region, where many distinct markets have different drivers for demand response growth.