Key players in the Demand Response Management System (DRMS) market are GE, Siemens, Schneider Electric, Johnson Controls, ABB, EnerNOC, and Honeywell.
(PRWEB) December 13, 2014
The Asia-Pacific Demand Response Management System (DRMS) market report defines and segments the concerned market with analysis and forecast of revenue.
Browse through the TOC of the Demand Response Management System (DRMS) market for an in-depth analysis of the industry trends and segments, with help of various tables and figures.
Demand Response Management System (DRMS) is a peak load management tool with large benefits in reducing the imbalance between energy supply and demand. Demand Response (DR) and Energy Efficiency (EE) collectively help in Demand Side Management (DSM) of energy that encourages consumers to modify their levels and patterns of electricity consumption with the improvement in grid reliability. DR and EE programs can defer the need to build highly cost-intensive power plants for electricity generation which is also detrimental to the environment. Demand response management system market combines both price-based and incentive-based options to motivate customers to reduce their energy usage during peak hours.
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The DRMS software provides highly customized programs to customers in order to evaluate real-time and historical outcome of DR programs and assess their effectiveness. Although globally, utilities and system providers mostly focus on commercial and industrial customers, mass smart meter rollout in many countries is presenting a strong business case for rolling out residential DR programs. Since the DR implementation is a costly and complex process; generally, the large investor-owned utilities deploy it. However, outsourcing the entire implementation of the program to demand response service providers and adoption of cloud based DRMS solutions can help utilities manage the DR programs in a cost-effective manner.
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This market is segmented on the basis of solutions into Commercial and Industrial (C&I) DRMS, Residential DRMS and Automated DRMS (ADR). It is further segmented on the basis of devices -smart appliances (DR Enabled), Networked Home Energy Management (HEM), smart thermostats, Load Control (LC) switches and smart plugs. It also provides segmentation on the basis of services curtailment services, system integration and consulting services and managed services. In addition, the report contains segmentation on the basis of verticals, such as manufacturing, office and commercial buildings, Municipal, University, School, and Hospital (MUSH) Systems, power & energy, and agriculture.
The report highlights crucial aspects of Demand Response Management System (DRMS) market in Asia-Pacific, such as market share, value chain analysis, and market metrics including drivers and restraints. Additionally, it also presents a comprehensive estimation of leading companies sustaining a firm hold in the marketplace.
North America Demand Response Management System (DRMS)
The North American demand response management system (DRMS) market is expected to grow from $4.14 billion in 2014 to $12.70 billion in 2019 at a CAGR of 25.1% during the forecast period. The market is primarily driven by the need to address energy price volatility.
Demand response management system (DRMS) is an effective peak load management tool that helps in mitigating the difference between demand and supply of energy. DRMS encourages the end-users to modify their usage patterns of power according to the supply capacity.
Europe Demand Response Management System (DRMS)
Europe has seen several new entrants in the DRMS market, especially aggregators. This indicates that the market is becoming a lucrative option for demand response service providers. At the same time, the major incumbents are based either in United States or in Europe, and are taking steps to assist in the expansion of the European demand response market. The increasing number of DRMS vendors, in addition to a favorable legislative structure, are considered as key driving factors fueling the adoption of DRMS in Europe.
The European demand response management system (DRMS) market is expected to grow from $1.35 billion in 2014 to $6.37 billion in 2019 at a CAGR of 36.3%, during the forecast period. The market is primarily driven by the growing number of new entrants.
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