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Demand Response Management Systems (DRMS): Global Strategic Business Report

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    Report

  • 480 Pages
  • January 2023
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 3619386

Global Demand Response Management Systems (DRMS) Market to Reach $10.6 Billion by 2030

In the changed post COVID-19 business landscape, the global market for Demand Response Management Systems (DRMS) estimated at US$5.1 Billion in the year 2022, is projected to reach a revised size of US$10.6 Billion by 2030, growing at a CAGR of 9.5% over the analysis period 2022-2030. Hardware, one of the segments analyzed in the report, is projected to record a 9% CAGR and reach US$6.1 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Software segment is readjusted to a revised 10.9% CAGR for the next 8-year period.

The U.S. Market is Estimated at $3.3 Billion, While China is Forecast to Grow at 13% CAGR

The Demand Response Management Systems (DRMS) market in the U.S. is estimated at US$3.3 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$635.3 Million by the year 2030 trailing a CAGR of 13% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 8.5% and 9.3% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 9.6% CAGR.

Select Competitors (Total 83 Featured) -

  • ABB Ltd.
  • 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
  • NRG Energy, Inc.
  • Open Access Technology International, Inc. (OATI)
  • Schneider Electric S.E.
  • Siemens AG
  • Tantalus Systems Corp.
  • Trilliant Holdings, Inc.

What`s New for 2023?

  • Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
  • Global competitiveness and key competitor percentage market shares
  • Market presence across multiple geographies - Strong/Active/Niche/Trivial
  • Online interactive peer-to-peer collaborative bespoke updates
  • Access to digital archives and Research Platform
  • Complimentary updates for one year

Looking Ahead to 2023

The global economy is at a critical crossroads with a number of interlocking challenges and crises running in parallel. The uncertainty around how Russia`s war on Ukraine will play out this year and the war`s role in creating global instability means that the trouble on the inflation front is not over yet. Food and fuel inflation will remain a persistent economic problem. Higher retail inflation will impact consumer confidence and spending. As governments combat inflation by raising interest rates, new job creation will slowdown and impact economic activity and growth. Lower capital expenditure is in the offing as companies go slow on investments, held back by inflation worries and weaker demand. With slower growth and high inflation, developed markets seem primed to enter into a recession. Fears of new COVID outbreaks and China’s already uncertain post-pandemic path poses a real risk of the world experiencing more acute supply chain pain and manufacturing disruptions this year. Volatile financial markets, growing trade tensions, stricter regulatory environment and pressure to mainstream climate change into economic decisions will compound the complexity of challenges faced. Year 2023 is expected to be tough year for most markets, investors and consumers. Nevertheless, there is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.
Frequently Asked Questions about the Global Market for Demand Response Management Systems (DRMS)

What is the estimated value of the Global Market for Demand Response Management Systems (DRMS)?

The Global Market for Demand Response Management Systems (DRMS) was estimated to be valued at $5.1 Billion in 2022.

What is the growth rate of the Global Market for Demand Response Management Systems (DRMS)?

The growth rate of the Global Market for Demand Response Management Systems (DRMS) is 9.6%, with an estimated value of $10.6 Billion by 2030.

What is the forecasted size of the Global Market for Demand Response Management Systems (DRMS)?

The Global Market for Demand Response Management Systems (DRMS) is estimated to be worth $10.6 Billion by 2030.

Who are the key companies in the Global Market for Demand Response Management Systems (DRMS)?

Key companies in the Global Market for Demand Response Management Systems (DRMS) include ABB Ltd., Aclara Technologies LLC, Ameresco, Inc., AutoGrid Systems, Inc., CPower, Inc., Direct Energy, LP, Eaton Corporation plc, Enel X S.r.l. and Honeywell International, Inc..

Table of Contents

I. METHODOLOGYII. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
  • Impact of COVID-19 Pandemic and Looming Global Recession
  • Year 2021 in Review and Near-term Outlook
  • Prolonged Pandemic, Ukraine-Russia Conflict and Ensuing Economic Disruptions Impact Growth Outlook
  • World Economic Growth Projections (Real GDP, Annual % Change) for the Years 2021, 2022 and 2023
  • Pandemic Impact on Power Utilities: Implications for the DRMS Market
  • DRMS Holds Significance for Effective Management of Power Demand Changes Amid the Pandemic
  • Demand Response Plays a Pivotal Role in managing Pandemic-Impact on Power and Energy
  • 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
  • Global Market Prospects & Outlook
  • Industrial DRMS: The Largest Segment
  • Focus on Enhancing Power Efficiency Drives the Commercial DRMS Market
  • United States Dominates the Global Demand Response Market
  • European DRMS Market to Benefit from Favorable Policy Changes and Expanding Renewables Portfolio
  • Developing Economies to Spearhead Future Market Growth
  • Competition
  • Demand Response Management Systems (DRMS) - Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
  • Recent Market Activity
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 Cities in US$ Million by Geographic Region/Country for the Years 2020 and 2027
  • DRMS Remains a Vital Computing Platform for Enhancing Operation of Smart Grids
  • Global Market for Smart Grids in US$ Billion) for the Years 2021, 2023 and 2025
  • 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
  • Global Energy Mix: 1990 Vs 2020 Vs 2030
  • Global Renewable Energy Breakdown by Type: 2010 Vs 2030
  • Global Energy Production: Breakdown of Electricity (Billion Kilowatt Hours) and Percentage Share by Energy Source (2030 & 2040)
  • Increasing Establishment of Microgrids to Spur Demand for DRMS
  • Anticipated Surge in EV Usage Presents DR as a Vital System to Ensure Load Balance
  • Global Sales of BEVs and PHEVs (in Thousands) for 2015 to 2021
  • Automated Demand Response Management Systems Market: Poised for Growth
  • DR Innovations & Advancements Spearhead Market Growth
  • Stricter Regulations and Climate-Change Policies Post COVID-19 to Boost DRMS Market
  • Domestic Targets for Greenhouse Gas Emissions of Select Regions/ Countries
  • Multiple Benefits Driving Participation of Load Aggregators in the DR Market
  • Favorable Demographic & Urbanization Trends Strengthen Market Prospects
  • World Population (in Thousands) by Geographic Region for the Years 2019, 2030, 2050, 2100
  • World Urban Population in Thousands: 1950-2050P
4. GLOBAL MARKET PERSPECTIVE
  • Table 1: World Demand Response Management Systems (DRMS) Market Analysis of Annual Sales in US$ Thousand for Years 2015 through 2030
  • Table 2: World Recent Past, Current & Future Analysis for Demand Response Management Systems (DRMS) by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2022 through 2030 and % CAGR
  • Table 3: World Historic Review for Demand Response Management Systems (DRMS) by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2015 through 2021 and % CAGR
  • Table 4: World 15-Year Perspective for Demand Response Management Systems (DRMS) by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets for Years 2015, 2023 & 2030
  • Table 5: World Recent Past, Current & Future Analysis for Hardware by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2022 through 2030 and % CAGR
  • Table 6: World Historic Review for Hardware by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2015 through 2021 and % CAGR
  • Table 7: World 15-Year Perspective for Hardware by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2015, 2023 & 2030
  • Table 8: World Recent Past, Current & Future Analysis for Software by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2022 through 2030 and % CAGR
  • Table 9: World Historic Review for Software by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2015 through 2021 and % CAGR
  • Table 10: World 15-Year Perspective for Software by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2015, 2023 & 2030
  • Table 11: World Recent Past, Current & Future Analysis for Services by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2022 through 2030 and % CAGR
  • Table 12: World Historic Review for Services by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2015 through 2021 and % CAGR
  • Table 13: World 15-Year Perspective for Services by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2015, 2023 & 2030
  • Table 14: World Recent Past, Current & Future Analysis for Conventional by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2022 through 2030 and % CAGR
  • Table 15: World Historic Review for Conventional by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2015 through 2021 and % CAGR
  • Table 16: World 15-Year Perspective for Conventional by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2015, 2023 & 2030
  • Table 17: World Recent Past, Current & Future Analysis for Automated by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2022 through 2030 and % CAGR
  • Table 18: World Historic Review for Automated by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2015 through 2021 and % CAGR
  • Table 19: World 15-Year Perspective for Automated by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2015, 2023 & 2030
  • Table 20: World Recent Past, Current & Future Analysis for Industrial by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2022 through 2030 and % CAGR
  • Table 21: World Historic Review for Industrial by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2015 through 2021 and % CAGR
  • Table 22: World 15-Year Perspective for Industrial by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2015, 2023 & 2030
  • Table 23: World Recent Past, Current & Future Analysis for Residential by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2022 through 2030 and % CAGR
  • Table 24: World Historic Review for Residential by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2015 through 2021 and % CAGR
  • Table 25: World 15-Year Perspective for Residential by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2015, 2023 & 2030
  • Table 26: World Recent Past, Current & Future Analysis for Commercial by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2022 through 2030 and % CAGR
  • Table 27: World Historic Review for Commercial by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2015 through 2021 and % CAGR
  • Table 28: World 15-Year Perspective for Commercial by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2015, 2023 & 2030
III. MARKET ANALYSIS
UNITED STATES
  • Demand Response Management Systems (DRMS) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2023 (E)
  • Huge Cost Savings Offered by Advanced DR Programs to Drive Healthy Long-term Growth
  • Need to Save Electricity during High Demand Periods Drives DRMS Deployments
  • Notable Trends in DRMS Market
  • Increasing Significance of BDR
  • Maturing Domestic Energy Management Systems
  • Increasing Importance of Big Data Management
  • Disruptive Competition from Retailers
  • EVs to Emerge as a Viable Alternative
  • Growing Influence of Millennials
  • Residential Consumers to Play an Increasingly Important Role
  • DER Aggregation to Increase
  • Increasing Relevance of Third Party Service Providers
  • Surging Popularity of Smart Thermostats with DR Strategies Benefit Market Adoption
  • Evolution of Smart Thermostats
  • Types of Smart Thermostat-DR Programs
  • The Many Challenges
  • Steady Electric Vehicles Penetration Drive Demand for Managed Charging
  • US Utilities Adopt Demand Response Initiatives to Balance Energy Supply and Demand Situation
  • Smart Grid Initiatives and Increase in AMI Installations Provide the Perfect Platform for DR Adoption
  • Aging Grid Infrastructure Augments Utility Distribution Spending, Augurs Well for the DRMS Market
  • DR Market to Significantly Benefit from Grid Modernization Initiatives
  • Energy Storage and DR Offer Huge Market Growth Potential
  • Focus on Renewables and Natural Disasters: A Strong Business Case for DR
  • DR Market Makes Major Strides Driven by Favorable Policy Development
CANADA
  • Demand Response Management Systems (DRMS) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Canada for 2022 (E)
  • Market Overview
JAPAN
  • Market Overview
CHINA
  • Demand Side Management Gains Importance Amidst Focus on Power Sector Reforms
EUROPE
  • Demand Response Management Systems (DRMS) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2023 (E)
  • Focus on Energy Sustainability Drives Demand for DRMS
  • Significance of Demand Response
  • Capacity Markets and Primary Reserves Markets Presents Opportunities
  • Industrial, Commercial, and Residential Consumers Offer Huge Untapped Growth Potential
  • Demand Response Holds Potential to Cut Down Energy Consumption in Residential Buildings
  • Smart Metering and Home Automation: Important Enablers of DR
  • DR Aggregators to Play a Critical Role in the European Market
FRANCE
GERMANY
  • Market Overview
ITALY
UNITED KINGDOM
  • Market Overview
REST OF EUROPE
ASIA-PACIFIC
  • Demand Response Management Systems (DRMS) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2023 (E)
  • India: Market Overview
REST OF WORLD
  • Middle East: Market Overview
IV. COMPETITION

Companies Mentioned

A selection of companies mentioned in this report includes:

  • ABB Ltd.
  • 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
  • NRG Energy, Inc.
  • Open Access Technology International, Inc. (OATI)
  • Schneider Electric S.E.
  • Siemens AG
  • Tantalus Systems Corp.
  • Trilliant Holdings, Inc.