Demand Response Management System Market Size, Share & Trends Analysis Report By Technology (Conventional, Automated), By Application (Residential, Industrial), By Region, And Segment Forecasts, 2024

Description

Demand Response Management System Market Growth & Trends:

The global demand response management system market size is expected to reach USD 25.92 billion in 2030 and is projected to grow at a CAGR of 16.3% from 2024 to 2030. The integration of Demand Response (DR) with smart grids and the rising awareness and adoption of automated DRMS by utilities and customers are believed to be the key growth drivers.

DRMS acts as a crucial arrangement for balancing energy supply with consumption requirement and stabilizing load on grids during peak hours. An automated demand response is established on AMI, which builds an integrated network between the customers participating in the DR program and the utility for exchanging signals and communicating in real time.

The introduction of cloud-based DRMS can automatically adjust the power consumption of heavy appliances at the users' end by examining data based on the usage pattern, weather condition, room occupancy, and such other factors that are recorded on a day-to-day basis. The data collected by home network is analyzed, based on which the appliances are programmed to be turned off during hours of peak consumption. Continuous improvement in DRMS for efficient energy conservation is expected to favorably impact the adoption of DRMS in the years to come.

The industrial sector accounts for the highest revenue share in the global market, which may be attributed to most DR programs being focused on the industrial sector as they are the highest power consumers, especially during peak hours. With the increasing applicability of Demand Response Management Systems, focus on the participation of residential customers is gaining importance. The residential sector is anticipated to be the fastest growing user segment in the global DRMS market. Rising awareness among residential customers about the price- based and incentive- based DR programs is expected to boost the industry growth.

Lack of awareness among customers about DR programs and their benefits along with a huge initial installation cost of devices for the adoption of DRMS are the challenges posed by the otherwise growing market for the technology.

Demand Response Management System Market Report Highlights:

Home area network and an integrated network connecting the utility and customers, smart meters, smart thermostats, load control switches, and other DRMS devices are expected to witness a robust growth.
The industrial applications segment dominated the market and accounted for the largest revenue share of 45.3% in 2023. This growth is attributed to managing the considerable energy loads mainly of industrial services.
The demand response management market in the U.S. dominated the North America market with the largest revenue share of 77.2%.
The demand response management market in China is expected to grow significantly, owing to its massive industrial infrastructure with an estimated peak load
Grid modernization and transitioning toward the smart grid technology have facilitated the Automated Demand Response (ADR) management

Product Code: GVR-1-68038-789-6

Chapter 1. Methodology and Scope

1.1. Market Segmentation and Scope
1.2. Market Definitions
1.3. Research Methodology
- 1.3.1. Information Procurement
- 1.3.2. Information or Data Analysis
- 1.3.3. Market Formulation & Data Visualization
- 1.3.4. Data Validation & Publishing
1.4. Research Scope and Assumptions
- 1.4.1. List of Data Sources

Chapter 2. Executive Summary

2.1. Market Outlook
2.2. Segment Outlook
2.3. Competitive Insights

Chapter 3. Global Demand Response Management System Market Variables, Trends, & Scope

3.1. Market Introduction/Lineage Outlook
3.2. Market Size and Growth Prospects (USD Million)
3.3. Market Dynamics
- 3.3.1. Market Drivers Analysis
- 3.3.2. Market Restraints Analysis
3.4. Global Demand Response Management System Market Analysis Tools
- 3.4.1. Porter's Analysis
  - 3.4.1.1. Bargaining power of the suppliers
  - 3.4.1.2. Bargaining power of the buyers
  - 3.4.1.3. Threats of substitution
  - 3.4.1.4. Threats from new entrants
  - 3.4.1.5. Competitive rivalry
- 3.4.2. PESTEL Analysis
  - 3.4.2.1. Political landscape
  - 3.4.2.2. Economic and Social landscape
  - 3.4.2.3. Technological landscape
  - 3.4.2.4. Environmental landscape
  - 3.4.2.5. Legal landscape

Chapter 4. Global Demand Response Management System Market: Technology Estimates & Trend Analysis

4.1. Segment Dashboard
4.3. Conventional Demand Response
- 4.3.1. Conventional Demand Response Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
4.4. Automated Demand Response
- 4.4.1. Automated Demand Response Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)

Chapter 5. Global Demand Response Management System Market: Application Estimates & Trend Analysis

5.1. Segment Dashboard
5.2. Global Demand Response Management System Market: Application Movement Analysis, 2023 & 2030 (USD Million)
5.3. Residential
- 5.3.1. Residential Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
5.4. Industrial
- 5.4.1. Industrial Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
5.5. Commercial
- 5.5.1. Commercial Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)

Chapter 6. Global Demand Response Management System Market: Regional Estimates & Trend Analysis

6.1. Global Demand Response Management System Market Share, By Region, 2023 & 2030 (USD Million)
6.2. North America
- 6.2.1. North America Demand Response Management System Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.2.2. U.S.
  - 6.2.2.1. U.S. Demand Response Management System Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.2.3. Canada
  - 6.2.3.1. Canada Demand Response Management System Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.2.4. Mexico
  - 6.2.4.1. Mexico Demand Response Management System Market Estimates and Forecasts, 2018 - 2030 (USD Million)
6.3. Europe
- 6.3.1. Europe Demand Response Management System Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.3.2. UK
  - 6.3.2.1. UK Demand Response Management System Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.3.3. Germany
  - 6.3.3.1. Germany Demand Response Management System Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.3.4. France
  - 6.3.4.1. France Demand Response Management System Market Estimates and Forecasts, 2018 - 2030 (USD Million)
6.4. Asia Pacific
- 6.4.1. Asia Pacific Demand Response Management System Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.4.2. Japan
  - 6.4.2.1. Japan Demand Response Management System Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.4.3. China
  - 6.4.3.1. China Demand Response Management System Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.4.4. India
  - 6.4.4.1. India Demand Response Management System Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.4.5. Australia
  - 6.4.5.1. Australia Demand Response Management System Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.4.6. South Korea
  - 6.4.6.1. South Korea Demand Response Management System Market Estimates and Forecasts, 2018 - 2030 (USD Million)
6.5. Latin America
- 6.5.1. Latin America Demand Response Management System Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.5.2. Brazil
  - 6.5.2.1. Brazil Demand Response Management System Market Estimates and Forecasts, 2018 - 2030 (USD Million)
6.6. Middle East and Africa
- 6.6.1. Middle East and Africa Demand Response Management System Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.6.2. South Africa
  - 6.6.2.1. South Africa Demand Response Management System Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.6.3. Saudi Arabia
  - 6.6.3.1. Saudi Arabia Demand Response Management System Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.6.4. UAE
  - 6.6.4.1. UAE Demand Response Management System Market Estimates and Forecasts, 2018 - 2030 (USD Million)

Chapter 7. Competitive Landscape

7.1. Recent Developments & Impact Analysis by Key Market Participants
7.2. Company Categorization
7.3. Company Heat Map Analysis
7.4. Company Profiles
- 7.4.1. ABB
  - 7.4.1.1. Participant's Overview
  - 7.4.1.2. Financial Performance
  - 7.4.1.3. Product Benchmarking
  - 7.4.1.4. Recent Developments/ Strategic Initiatives
- 7.4.2. Eaton
  - 7.4.2.1. Participant's Overview
  - 7.4.2.2. Financial Performance
  - 7.4.2.3. Product Benchmarking
  - 7.4.2.4. Recent Developments/ Strategic Initiatives
- 7.4.3. Enel X S.r.l.
  - 7.4.3.1. Participant's Overview
  - 7.4.3.2. Financial Performance
  - 7.4.3.3. Product Benchmarking
  - 7.4.3.4. Recent Developments/ Strategic Initiatives
- 7.4.4. EnergyHub
  - 7.4.4.1. Participant's Overview
  - 7.4.4.2. Financial Performance
  - 7.4.4.3. Product Benchmarking
  - 7.4.4.4. Recent Developments/ Strategic Initiatives
- 7.4.5. General Electric Company
  - 7.4.5.1. Participant's Overview
  - 7.4.5.2. Financial Performance
  - 7.4.5.3. Product Benchmarking
  - 7.4.5.4. Recent Developments/ Strategic Initiatives
- 7.4.6. Honeywell International Inc.
  - 7.4.6.1. Participant's Overview
  - 7.4.6.2. Financial Performance
  - 7.4.6.3. Product Benchmarking
  - 7.4.6.4. Recent Developments/ Strategic Initiatives
- 7.4.7. Itron Inc.
  - 7.4.7.1. Participant's Overview
  - 7.4.7.2. Financial Performance
  - 7.4.7.3. Product Benchmarking
  - 7.4.7.4. Recent Developments/ Strategic Initiatives
- 7.4.8. Johnson Controls Inc.
  - 7.4.8.1. Participant's Overview
  - 7.4.8.2. Financial Performance
  - 7.4.8.3. Product Benchmarking
  - 7.4.8.4. Recent Developments/ Strategic Initiatives
- 7.4.9. Schneider Electric
  - 7.4.9.1. Participant's Overview
  - 7.4.9.2. Financial Performance
  - 7.4.9.3. Product Benchmarking
  - 7.4.9.4. Recent Developments/ Strategic Initiatives
- 7.4.10. Seimens
  - 7.4.10.1. Participant's Overview
  - 7.4.10.2. Financial Performance
  - 7.4.10.3. Product Benchmarking
  - 7.4.10.4. Recent Developments/ Strategic Initiatives

Demand Response Management System Market Size, Share & Trends Analysis Report By Technology (Conventional, Automated), By Application (Residential, Industrial), By Region, And Segment Forecasts, 2024 - 2030