Demand Response Management System (DRMS) Market - Geographical Overview
The Demand Response (DR) market has immense growth potential in the future. The majority of DR programs in place are concentrated in the U.S. at the moment, but many countries in the Asia Pacific (APAC) region have a strong business case for adopting DR programs. North America (NA) is expected to be the largest market for Demand Response Management Systems (DRMS) in the next 5 years in terms of absolute dollar value. Larger players in the DRMS market such as EnerNOC, Honeywell, GE, Siemens, Schneider, Johnson Controls, and ABB have a comprehensive robust portfolio of products and services for commercial and residential end users.
Although, DR events are prominent for Commercial and Industrial (C&I) customers, residential demand response market growth is not as expected. But now with increasing mass deployment of smart meters and increasing shipment of energy management devices, residential demand response is expected to see significant growth prospect in the forecast period. The NA market is expected to hold the largest share in this subsegment too. In the forecast period, many countries in the APAC region are also expected to see significant growth prospects in this subsegment. Automated DR solution is also expected to see significant growth opportunities.
Europe (EU) is the second largest contributor in the DRMS market. Due to the lack of a single market model, the growth of DR market in this region has been comparatively slower than expected. However, many countries in this region have been using DR programs in the C&I segment for many years now.
Related Reports:
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)
https://www.marketsandmarkets.com/Market-Reports/demand-response-management-system-drms-market-71829662.html
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