Global Demand Response Management Systems (DRMS) Industry

Global Demand Response Management Systems (DRMS) Industry

  • January 2021 •
  • 260 pages •
  • Report ID: 5561817 •
  • Format: PDF
Project Details:
- StrategyR - A Trademark of Global Industry Analysts, Inc.
- Project Edition: 17
- Influencer Pool: 47886
- MarketGlass™ Platform - Our influencer driven interactive research platform draws from unique perspectives of participating executives from featured companies. In addition to being a global intelligence exchange platform, MarketGlass™ is a powerful knowledge center that delivers dynamic project-focused market intelligence. Client companies will have complete insider access to the project Data stack.
- Interactive peer-to-peer and enterprise-to-enterprise ideation and market intelligence exchange is facilitated via a robust, secure, and validated process. The process draws from uniquely qualified project-specific and geographically focused executives overseeing business development, marketing and sales operations.
  • Trends & Factors - Identifying and validating local trends and factors driving each competitive marketplace. These factors include pricing variances, market trajectories, Covid-19 impact and recovery, locally active leading brands, and other parameters impacting the region in the short to medium term such as supply chain realignments.
  • Mobile Access & App - Our mobile version of the report may be accessed via our mobile app or directly for a full mobile experience.
  • Complimentary Updates - for one year. At least one update in 12-month period is normal and anytime there’s a significant change affecting the market dynamics.
  • Bespoke Updates & Team Collaborations - Clients may build a bespoke version of our report with peers on our MarketGlass™ platform which enables multidimensional data simulations.
  • Knowledge Center - clients have full-stack data access for project data they support or purchase including primary research engagement stats, companies and executives.

Abstract:
- The global market for Demand Response Management Systems (DRMS) is projected to exceed US$9.5 billion by 2024, driven by technology disruptions in the electric power industry, the primary among them being smart grid software aimed at providing utilities a cost-effective, eco-friendly, and efficient energy management solution for tackling demand disruptions. The inefficiency of legacy load management systems is throwing the spotlight on DRMS as an effective alternative. Benefits of demand response driving its importance as an indispensable strategy in meeting clean energy and climate goals include financial benefits for energy consumers in terms of reduced bills and incentive payments earned; enables effective load management by utilities; reduces the risk of power outages and financial losses accruing from the same; encourages fair market practices by preventing utilities from raising prices; helps businesses and consumers hedge the rising prices of electricity; higher willingness to shift to backup power and co-generation strategies to reduce exposure to fluctuations in wholesale and peak load price spikes; reduced stress on the grid and greater grid reliability; increased use of renewable energy and better ability for integrated resource planning, among others. Future growth in the market will be driven by robust demand for Automated Demand Response (Auto-DR) technologies; ongoing evolution and adoption of smart grids in energy distribution networks; growing prominence of smart electricity meters as an integral part of smart homes; government policy led provision of incentives for voluntary demand response programs for residential homes; and growing value of demand response for utilities with renewables integration given their ability to optimally allocate installed capacity and eliminate fluctuations in load balancing. The United States represents the largest market worldwide, supported by stimulus funding and federal governmental policy guidance and regulations and the ensuing successful implementation of price-based demand response and Incentive-based demand response programs. Asia-Pacific ranks as the fastest growing market with a CAGR of 33% over the analysis period led by growing regional economies and population, a parallel increase in energy demand and resulting need for sustainable consumption habits; growing investments in smart cities and the resulting expanding base of smart grid community of residential households.

Select Competitors (Total 83 Featured) -
  • Aclara Technologies LLC
  • Ameresco, Inc.
  • AutoGrid Systems, Inc.
  • CPower, Inc.
  • Direct Energy, LP
  • Eaton Corporation plc
  • Enel X S.r.l.
  • General Electric Company
  • Honeywell International, Inc.
  • Itron, Inc.
  • Johnson Controls International Plc
  • Landis+Gyr AG
  • Lockheed Martin Corporation
  • Nexant, Inc.
  • NRG Energy, Inc.
  • Open Access Technology International, Inc. (OATI)
  • Schneider Electric S.E.
  • Siemens AG
  • Tantalus Systems Corp.
  • Trilliant Holdings, Inc.