DUBLIN--(BUSINESS WIRE)--The "Demand Response Management Systems (DRMS) - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
The global market for Demand Response Management Systems (DRMS) estimated at US$4.3 Billion in the year 2020, is projected to reach a revised size of US$10.1 Billion by 2026, growing at a CAGR of 15.2% over the analysis period. Hardware, one of the segments analyzed in the report, is projected to grow at a 14.6% CAGR to reach US$6.7 Billion by the end of the analysis period.
After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Software segment is readjusted to a revised 17.6% CAGR for the next 7-year period. This segment currently accounts for a 24.7% share of the global Demand Response Management Systems (DRMS) market.
The U.S. Market is Estimated at $3.1 Billion in 2021, While China is Forecast to Reach $608.5 Million by 2026
The Demand Response Management Systems (DRMS) market in the U.S. is estimated at US$3.1 Billion in the year 2021. The country currently accounts for a 64.25% share in the global market. China, the world`s second largest economy, is forecast to reach an estimated market size of US$608.5 Million in the year 2026 trailing a CAGR of 21.2% through the analysis period.
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.
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Impact of COVID-19 Pandemic and Looming Global Recession
- DRMS Holds Significance for Effective Management of Power Demand Changes Amid the Pandemic
- Pandemic Crisis Weakens Economic Environment, Triggering Negative Tide in GDP
- World Economic Growth Projections (Real GDP, Annual % Change) for 2019, 2020 & 2021
- An Introduction to Demand Response Management Systems (DRMS)
- Primary Objectives of Demand Response
- Approaches to Implement Demand Response Programs
- Classification of Demand Response Programs
- Key Components/Technologies Enabling Demand Response
- Demand Response: An Essential Tool to Support Economic, Eco-Friendly and Efficient Optimization of Power Generation & Distribution
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Myriad Economic and Operational Benefits Drive Widespread Market Adoption
- Key Benefits of ADR Programs
- Technology Disruptions in the Global Electric Power Industry: The Fundamental Growth Driver
- Growing Prominence of Electrification for Cutting down Carbon Emissions
- DR Holds Importance Amidst Decentralization of Power Grid
- Digitalization Enables Increased Communication among Devices
- Demand Side Response Leveraging AI and ML Approaches
- Need for Newer DR Models for Replacing Manual Energy Curtailments Drive Demand for ADR Technologies
- Advanced Demand Response 3.0: The Future of DR
- DR 1.0 to DR 3.0: Tracing the Progression of DR
- Integration of Internet of Things (IoT) with Demand Response Drives the Evolution of Connected Utilities
- Global Number of IoT Connected Devices (In Billion) for the Years 2016, 2018, 2020, 2022 & 2025
- Sub-Greedient: The IoT-Based DR Approach
- Demand Response Holds Promises to Transform Smart Homes of the Future
- Growing Investments into Smart Homes Bode Well for DRMS Market: Global Smart Homes Market (In US$ Billion) for the Years 2019, 2021, 2023 & 2025
- Integration of Smart Buildings into Smart Grids Using ADR
- Building Simulation Software for Assessing Effectiveness of DR in Residential Buildings
- Rise of Smart Cities and Focus on Smart Energy Management Spurs Growth
- Global Market for Smart City Technologies in US$ Million for the Years 2019 and 2025
- DRMS Remain a Vital Computing Platform for Enhancing Operation of Smart Grids
- Global Market for Smart Grids in US$ Billion) for the Years 2018 and 2020
- DRMS Emerges as a Critical Technology for Smart Grids
- ToUPS DR Program Beneficial for DSOs and Customers
- Smart Grids Implementation Augurs Well for Residential DRMS Market
- Disaster Response Sector Relies on Power Generators for Ensuring Power Supply during Outages
- Use of Big Data Analytics by Utilities to Benefits Analytical and Behavioral DSM
- Surging Demand for DRMS from Electric Utilities Worldwide to Boost Market Expansion
- Changing Electricity Demand Dynamics Compel Utilities to Adopt DRMS
- Projected Global Demand for Electricity (MWh): 2015, 2020, 2025, 2030 & 2035
- China and India Lead the Global Rise in Demand for Electricity: Change in Gross Electricity Demand in TWh for 2017-50
- DR Resources Play a Critical Part in Stabilizing Electricity Supply for Utility and Grid Operator
- DR Reduces Need for Investments into New Power Generation and Grid Infrastructure
- Differentiation in Service Offerings: A Major Benefit with DR Services
- DR Promises to Curtail Unnecessary Expenditure on New Distribution Grid Infrastructure
- Enhancing Profitability of DR on the Small-Scale
- Incentives for Electricity-usage Curtailments to Boost Penetration in Industrial, Commercial, and Residential Sectors
- Commercial Buildings Offer Huge Market Potential for Demand Response
- Residential Sector to Exhibit Fastest Growth in the Near Term
- Inevitable Shift to Intermittent Renewable Sources of Energy Drives Demand for DRMS
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/ejiuis
