In fact, global spending on customer engagement demand side management, or CEDSM, is expected to reach $1.1bn by 2027. As customer expectations grow for new technologies, so does the market for CEDSM products, making it easier for utilities and retail suppliers to engage with them. However, uncertainty in the long-term cost-effectiveness of these solutions remains a barrier to global adoption, in addition to region-specific competitiveness of a deregulated energy supply market.
“Because of the changes in consumer expectations, utilities and retail suppliers are seeking DSM software solutions that can lower the cost to serve and improve customer satisfaction and engagement,” says Brett Feldman, principal research analyst with Navigant Research.
To enhance CEDSM competitiveness and customer acceptance, utilities and service providers should focus on combining budgets and revenue streams to cover costs, transition to newer business models while complementing existing DSM programs rather than replacing them, and offering accurate building energy use models to build customer trust.
The Navigant report, Utility Customer Engagement Through DSM, examines the global CEDSM market, focusing on market drivers and barriers, case studies, and forecasts for residential and commercial and industrial CEDSM spending.
Source: Navigant Research
Enjoy curated articles directly to your inbox.