#conventional drms

Technology disruptions in the electric power industry and the resulting need for economic, eco-friendly and efficient optimization of power generation and distribution are poised to drive the global market for Demand Response Management Systems (DRMS) to exceed US$9.5 billion by 2024.

The landscape of the global electrical power sector is changing dramatically with market liberalization and stringent environmental policies of governments and regulators, coupled with increasing financial constraints pushing system operators away from centralized power plants and towards distributed energy resources and microgrids. The scenario is fuelling the adoption of advanced technologies such as demand response management systems (DRMS) that ease this transition process for system operators, increase participation of consumers, strengthen reliability and flexibility of the electrical system, and support growth of microgrids. Demand Response (DR), also termed as demand-side response or load response, comprises a broad range of manual and automated initiatives offered to the consumer to modify electricity usage in reaction to electricity demand-supply imbalances or exceptionally high power-prices. Various benefits offered by DRMS that is driving its steady adoption over the years, particularly in the United States, include diverting customer load reduction to resolve network congestion or stress in electrical grid; integrating intermittent supply from renewable energy and distributed generation resources; and enabling automation and integration of DR with the fast evolving smart grid.

 Future growth in the market will be driven by the growing prominence of smart electricity meter as the cornerstone of the ‘Connected Home’ or ‘Smart Home’; and the upcoming ‘Smart City’ phenomenon that is expected to generate large-scale demand for DRMS. Additionally, DR also represents an eco-friendly technology which can analyze, model, predict, simulate, and optimize the control of energy demand in connected cities. Other important growth drivers include surging demand for Automated Demand Response (Auto-DR) technologies; ongoing evolution and adoption of the smart grid phenomenon that is wielding huge impact on DRMS deployments; favourable government initiatives and the rapid penetration of Automated Metering Infrastructure (AMI) in utilities across the world; and the increasing role of ‘Cloud’ services in smart grid operations. Rising demand from utilities for the economical, efficient, and eco-friendly DR resource for surviving energy demand disruptions is also driving healthy growth in global deployments of DRMS. The increased demand from utilities is attributed to mounting pressures on utility operators to step up and modernize their grid operations and improve distribution efficiency to suffice the growing demand from various end-use sectors including residential, commercial and industrial.

As stated by the new market research report on Demand Response Management Systems (DRMS), the United States represents the largest market worldwide. Key factors driving market dominance of the country include stimulus funding and federal governmental policy guidance, regulations at State levels, changing economic dynamics of the nation’s utility industry at large, increasing role of DR in meeting the US government’s clean energy and climate goals, growing number of natural disasters that is questioning the resilience and reliability of the existing grid, and DR technology innovations, among others. Asia-Pacific represents the fastest growing market with a CAGR of 33% over the analysis period.

Key players in the market include ABB Limited, Accenture plc, Aclara Technologies LLC, Ameresco, Inc., AutoGrid Systems, Inc., Comverge Inc., CPower, Inc., EnerNOC, Inc., General Electric Company, Honeywell International, Inc., Elster Group SE, Itron, Inc., Silver Spring Networks, Inc., Johnson Controls International Plc, Landis+Gyr AG, Lockheed Martin Corporation, NRG Energy, Inc., Open Access Technology International, Inc. (OATI), OPOWER, Inc., Schneider Electric S.E., Siemens AG, Tantalus Systems Corp., and Trilliant Holdings, Inc., among others.

The research report titled “Demand Response Management Systems (DRMS): A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies. The report provides market estimates and projections for major geographic regions including the US, Europe, Asia-Pacific, and Rest of World. Major sectors analyzed for the global market include Residential, Industrial, and Commercial. Technology types analyzed for the global market include Automated and Conventional. Additionally, the global market is analyzed by Hardware, Software, and Services segments.

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