- May 16, 2018 7:27 pm GMT
The widespread adoption of digital media tools has changed the way that consumers interact with service providers of all types. Yet, direct communications between utilities and their customers have been limited to a monthly bill and negative events such as power outages or unexpectedly high bills. This history has led to low customer satisfaction. Because of the changes in consumer expectations, utilities and retail suppliers are seeking demand-side management (DSM) software solutions that can lower the cost to serve and improve customer satisfaction and engagement.
Multiple market drivers are leading to increased utility customer engagement through DSM (CEDSM). These drivers range from changes in customer expectations to the availability of new technologies making it easier for utilities to engage customers. Drivers vary from country to country due to the competitiveness of the deregulated energy supply market in some regions. However, concerns exist about the performance and results of these solutions. Utilities willing or required to invest in DSM programs are unsure about long-term effects and how customers will take to these technologies. The greatest international barrier to increased customer engagement is the uncertainty around whether it will cost-effectively reduce churn and increase customer retention in deregulated markets.
This report examines the global CEDSM market, with a focus on market drivers and barriers, case studies, and forecasts for residential and commercial and industrial (C&I) CEDSM spending. The study examines the trends related to CEDSM to highlight regional activities and approaches to behavioral DSM and utility marketplaces. Global market forecasts for spending, broken out by segment and region, extend through 2027. The report also profiles key CEDSM solutions providers and provides recommendations for utilities, retail suppliers, and vendors that aim to enhance CEDSM effectiveness.
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