Global Installation of Devices for Bring Your Own Device Programs Is Expected to Reach 5.5 Million in 2027
Three fundamental shifts are encouraging growth of bring your own device programs globally
A new report from Navigant Research examines the global bring your own device (BYOD) market and explores the issues related to BYOD devices, providing market forecasts segmented by device type and region through 2027.
The global electric power industry is shifting toward the Energy Cloud, positioning the BYOD market to allow customers to take advantage of a diverse range of smart, grid-interactive technologies. These solutions enable customers to manage their energy consumption while maintaining optimal comfort. Click to tweet: According to a new report from @NavigantRSRCH, BYOD devices installed globally are expected to grow from 1.1 million in 2018 to 5.5 million in 2027.
“We see drivers of the emerging BYOD initiatives as largely dependent on the regulatory landscape and business model contexts where a program operates,” says Brett Feldman, research director with Navigant Research. “Additionally, successful utility demand response programs and distributed energy resources management system platform capabilities are helping to increase the number of BYOD programs.”
According to the report, three fundamental shifts are taking place as BYOD programs continue to grow across North America and enter markets worldwide. These shifts include how devices beyond thermostats are increasingly communicating with the electric power grid, how broader BYOD programs are exploring the energy efficiency applications of bring your own thermostat (BYOT) programs, and how BYOD programs are expanding to include retail choice electricity suppliers in deregulated markets and energy service providers.
The report, Bring Your Own Device DSM Programs for Utilities and Retail Energy Suppliers, examines the global BYOD market, with a focus on smart thermostats, hot water heaters and appliances, energy storage, EVs, and EV supply equipment. The report explores the market issues related to BYOD devices, including drivers, barriers, and trends, to highlight regional activities and programs. Global market forecasts, segmented by device type and region, extend through 2027. The report also analyzes utility and non-utility BYOD business models and shares case studies of BYOD programs incorporating various technologies in North America. An Executive Summary of the report is available for free download on the Navigant Research website.
Contact: Lindsay Funicello-Paul
* The information contained in this press release concerning the report, Bring Your Own Device DSM Programs for Utilities and Retail Energy Suppliers, 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.