Demand Response is interpreted as a voluntary PJM energy program. The program compensates retail customers for minimizing their electricity load, when instructed by PJM. This usually occurs during high power costs or when a grids reliability is threatened. Demand response management helps consumers unlock their DR prospects with their current assets. Besides this retailer can now provide new solutions and enhance consumer loyalty and ensure satisfaction. In addition, the demand response program enables electricity suppliers to introduce alternative measures to source power and avoid making huge investments in the peaking plants.
There are many drivers, restraints and opportunities shaping the growth of the market worldwide. Volatility in energy price is driving the market worldwide. Furthermore, smart grid roll -outs have also contributed to the expansion of the sector. Regions such as North America is likely to create greater opportunities in the next 6 years. Among the different industry verticals manufacturing is expected to provides greater opportunities globally.
The demand response management system industry is segmented based on solutions, verticals, services and geography. Based on solutions the market is segmented into residential DRMS, Commercial DRMS and Industrial DRMS. The business verticals served by the market includes agriculture, manufacturing, energy and power among others. Moreover, based on service the market is segmented into support and maintenance, curtailment services, managed services and system integration and consulting services. The regions served by the demand response system management industry consists of North America, Europe, Asia -Pacific and LAMEA.
A closer look at the competitive landscape reveals that major IT brands are busy launching solutions and generating clients in the same month itself. Prominent market players are also seen acquiring new companies or local market players to maintain their competitive edge. Other business strategies favored by the companies include constant upgradation, joint ventures and collaborations. Prominent market players active in the market are Honeywell, GE, Siemens, ABB, Johnson Controls, EnerNOC and Schneider Electric
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- Assessment of upstream and downstream market also forms an important part of the report.
Demand Response Management System Market Report Highlights
By Industry Vertical
Key Market Players
Schneider Electric SA, Eaton Corporation, Enernoc Inc., Opower, Inc., Johnson Controls, Inc, ABB Ltd, Siemens AG, Honeywell International, Inc., General Electric