- 1321 Upland Dr. PMB 20205, Houston, Texas, 77043, US
- Time : Monday-Friday 09am-5pm
- Trophy Winning
- Ceritified ( ISO 9005-2010 )
Demand Response Management System Market
Demand Response Management System Market
Demand Response Management System Market - By Solution, By Service, By Vertical, and By Region- global Opportunity Analysis and Industrial Forecast- 2022-2030
Demand Response Management System Market Industry Overview:
Demand response management system (DRMS) can be defined as a system which allows utilities to monitor, schedule, control, and manage their portfolios of distributed energy resources (DERs) and demand response (DR) programs. It is used by electric utility companies to shift or reduce energy consumption from peak hours of the day when the demand for electricity is the highest to leaner demand periods. It helps reduce the imbalance between demand and energy supply. The global Demand Response Management System market was valued at around USD 31.5 billion in 2020 and is expected to register a CAGR of 14.6% during the review period to reach to around USD 92.6 billion by end of 2028.
Demand Response Management System Market Segmentation:
By solution, the demand response management system market has been segmented into commercial DRMS, industrial DRMS, and residential DRMS. The commercial DRMS segment accounted for the largest market share in 2020 and is expected to register significant growth during the review period. The segment growth can be attributed to widespread product use across application such as small enterprises, BFSI, telecom & IT, and retail among others. The industrial DRMS segment is projected to register significant growth during the review period.
Based on service, the demand response management system market has been categorized into curtailment services, system integration & consulting services, managed services and support & maintenance services. The curtailment services segment accounted for the largest market share in 2020 and is expected to grow at a significant CAGR during the review period. Curtailment is defined as the cautious reduction in output below what could have been produced due to due to transmission constraints or in order to balance demand and energy supply. The managed services segment is expected to register fastest growth during the review period.
Based on vertical, the demand response management system market has been segmented into manufacturing; office & commercial buildings; municipal, university, school and hospital (MUSH); energy & power; and agriculture. The manufacturing segment accounted for the largest market share in 2020 and is expected to grow at a significant CAGR during the review period. The segment growth can be attributed to widespread energy usage in the manufacturing factors as heavy machineries and equipment are being used at a large scale. The energy & power segment is projected to register healthy growth during the review period.
Demand Response Management System Market Dynamics and Factors:
The growth of the global demand response management system market is primarily driven by rising focus on energy efficiency by encouraging consumers to modify their pattern and level of electricity consumption. Increasing spending on development of modern infrastructure in both developed and developing economies to develop smart cities is expected to propel the demand response management system market growth at a significant rate during the review period.
Growing integration of advanced technologies such as internet of things (IOT) and information and communication technology is likely to create lucrative opportunities for the players operating in the global demand response management system market during the forecast period.
However, issues related to technological aspects are likely to affect the market growth during the forecast period.
Demand Response Management System Geographical Analysis:
Geographically, the market has been segmented into North America, Europe, Asia-Pacific, Latin America and the Middle East & Africa. The market in North America accounted for the largest share in 2020 and is expected to grow at a significant CAGR during the review period. The regional market growth can be attributed to presence of established smart grid infrastructure particularly in US. The presence of key established market players such as General Electric Company and Honeywell International, Inc. among others. Growing emphasis on enhancing energy efficiency and smart metering is likely to boost the product demand at a significant rate during the review period.
The market growth in Asia-Pacific region is expected to be driven by significant growth of the renewable energy sector particularly in China and India. Increasing government support programmes for establishment of smart grid infrastructure is likely to bolster the market growth at a substantial rate during the review period. Growing emphasis on development of smart cities in the developing countries is projected to propel the demand response management system market growth further.
The European market is expected to grow at a considerable CAGR on account of presence of strong renewable energy industry particularly in Germany, UK and France. Germany was the largest revenue generating country in the region. Increasing installation of smart grid and smart meters is expected to contribute to the global demand response management system market growth at a considerable rate during the review period.
The market in Latin America and the Middle East & Africa is expected to be driven by increasing investment on development of smart grid infrastructure.
Demand Response Management System Market Report Scope
|
Segmentation of the Demand Response Management System Market 2022 – 2030 |
|
|
By Solution |
|
|
By Service |
|
|
By Vertical |
|
|
By Region |
|
Key Market Segmentation
Demand Response Management System Market - By Solution
o Commercial DRMS
o Industrial DRMS
o Residential DRMS
Demand Response Management System Market - By Service
o Curtailment Services
o System Integration & Consulting Services
o Managed Services
o Support & Maintenance Services
Demand Response Management System Market - By Vertical
o Manufacturing
o Office & Commercial Buildings
o Municipal, University, School and Hospital (MUSH)
o Energy & Power
o Agriculture
Demand Response Management System Market - By Region
North America
o US
o Canada
o Mexico
Europe
o Germany
o UK
o France
o Italy
o Spain
o Russia
o Benelux
o Nordics
o Rest of Europe
Asia-Pacific
o China
o India
o Japan
o South Korea
o Rest of Asia-Pacific
Middle East and Africa
South America
1 Executive Summary
2 Market Introduction
2.1 Definition
2.2 Architecture
2.3 Scope of the Study
2.4 Related Stakeholders
3 Research Methodology
3.1 Introduction
3.2 Primary Research
3.2.1 Key Insights
3.2.2 Breakdown of Primary Interviews
3.3 Secondary Research
3.3.1 Important Sources
3.4 Market Size Estimation Approaches
3.4.1 Top-Down Approach
3.4.2 Bottom-Up Approach
3.4.3 Data Triangulation
3.5 List of Assumptions
4 Market Dynamics
4.1 Introduction
4.2 Drivers
4.2.1 Rising focus on energy efficiency by encouraging consumers to modify their pattern and level of electricity consumption
4.2.2 Increasing spending on development of modern infrastructure in both developed and developing economies
4.3 Restraints
4.4 Opportunities
4.4.1 Growing integration of advanced technologies such as internet of things (IOT) and information and communication technology
4.5 Porter's Five Forces Model Analysis
4.6 Value Chain Analysis
4.7 Impact of COVID-19 on Global Demand Response Management System Market
5 Global Demand Response Management System Market, By Solution
5.1 Introduction
5.2 Commercial DRMS
5.3 Industrial DRMS
5.4 Residential DRMS
6 Global Demand Response Management System Market, By Service
6.1 Introduction
6.2 Curtailment Services
6.3 System Integration & Consulting Services
6.4 Managed Services
6.5 Support & Maintenance Services
7 Global Demand Response Management System Market, By Vertical
7.1 Introduction
7.2 Manufacturing
7.3 Office & Commercial Buildings
7.4 Municipal, University, School and Hospital (MUSH)
7.5 Energy & Power
7.6 Agriculture
8 Global Demand Response Management System Market, By Region
8.1 Introduction
8.2 North America
8.2.1 US
8.2.2 Canada
8.2.3 Mexico
8.3 Europe
8.3.1 Germany
8.3.2 UK
8.3.3 France
8.3.4 Italy
8.3.5 Spain
8.3.6 Rest of Europe
8.4 Asia-Pacific
8.4.1 China
8.4.2 India
8.4.3 Japan
8.4.4 South Korea
8.4.5 Rest of Asia-Pacific
8.5 Middle East and Africa
8.6 South America
9 Competitive Landscape
9.1 Introduction
9.2 Vendor Evaluation Criteria
9.3 Vendor Share Analysis, 2020
9.4 Recent Developments, 2018-2021
9.4.1 New Product Launches
9.4.2 Partnerships
9.4.3 Mergers or Acquisitions
9.4.4 Business Expansions
10 Company Profiles
(This section covers the Business Overview, Financial Overview, Product and Product Offerings, Recent Developments, SWOT Analysis, and Key Strategies of the top market vendors. The given sequence does not represent their rankings in the market.
10.1 ABB Ltd
10.2 Enernoc Inc.
10.3 General Electric
10.4 Schneider Electric SA
10.5 Siemens AG
10.6 Eaton Corporation
10.7 Honeywell International, Inc.
10.8 Johnson Controls, Inc
10.9 Opower, Inc.
10.10 Comverge, Inc.
11 Appendix
11.1 Discussion Guide
11.2 Customization Options
11.3 Related Reports
Key Market Segmentation
Demand Response Management System Market - By Solution
o Commercial DRMS
o Industrial DRMS
o Residential DRMS
Demand Response Management System Market - By Service
o Curtailment Services
o System Integration & Consulting Services
o Managed Services
o Support & Maintenance Services
Demand Response Management System Market - By Vertical
o Manufacturing
o Office & Commercial Buildings
o Municipal, University, School and Hospital (MUSH)
o Energy & Power
o Agriculture
Demand Response Management System Market - By Region
North America
o US
o Canada
o Mexico
Europe
o Germany
o UK
o France
o Italy
o Spain
o Russia
o Benelux
o Nordics
o Rest of Europe
Asia-Pacific
o China
o India
o Japan
o South Korea
o Rest of Asia-Pacific
Middle East and Africa
South America
Report ID: VBI65
----------------- Feb-2023
-----------------
Format: PDF/Excel
Choose license type
Quick contact
Get Solution
Organically grow the holistic world view of disruptive innovation via workplace diversity
Contact Us