Utility resistance to new technologies presents a substantial barrier to the market
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.
Contact: Lindsay Lorenz
* 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.