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New Revenue Pockets of Demand Response Management System (DRMS) Market
The Demand Response Management System (DRMS) market has immense growth potential in the future. DRMS solution and service implementation varies with various industry verticals. The manufacturing vertical will account for the largest market share during the period 2014 to 2019. Manufacturing vertical market in North America (NA) is anticipated to project the largest opportunity in DR market throughout the forecast period.
However, there are other verticals: office and commercial buildings, Municipal, University, School, and Hospital (MUSH) systems, power and energy, and the agriculture sector. Office and commercial buildings and MUSH verticals are expected to show significant opportunities for Demand Response (DR) providers, and the agriculture vertical is anticipated to see considerable growth opportunities during the forecast period.
Vendors such as EnerNOC, GE, Schneider Electric, Honeywell, Johnson Controls, ABB, and Siemens have a comprehensive product portfolio in this domain.
The DR market space has not picked up pace as expected in the past, due to budgetary constraints for utilities and lack of mandates. But with the widespread adoption of smart meters and cloud technology platform utilities, investment in Research and Development (R&D) can now attain the maximum benefit from DR programs in a cost-effective manner.
Demand Response Management System (DRMS) Market [C&I, Residential, Automated DR, Curtailment Services, System Integration and Consulting, Managed Services, Devices] - Worldwide Market Forecasts and Analysis (2014-2019)
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