Demand Response Management Systems Market Share, Trends, Growth, Opportunities and Top Key 2022

Demand response management system (DRMS) is an effective tool for peak load management that helps in mitigating the difference between demand and supply of energy, which, in turn, encourages the end-users to modify their power utility patterns according to the supply capacity. The need for a more centralized management and control is prevalent. Solutions in the category have been offered by numerous vendors from various areas in the industry. DR has a significant role to play in the landscape of low carbon policies and regulations, the changing resources mix, and evolving utility business models. Utilities employ DRMSs to manage their portfolios of DR programs, increase customer satisfaction, and address existing compliance and financial risks.

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Technology

DRMS acts as an inevitable arrangement for balancing energy supply with consumption requirement and stabilizing load on grids during peak hours. Automated Demand Response, an integrated network between the consumers participating in the DR program and the utility for exchanging signals and communicating in real time has been built by AMI. By recording and examining data based on the utility patterns, weather conditions, room occupancy, and such other factors on a day-to-day basis, cloud-based DRMS can automatically adjust the power consumption of heavy appliances at the users end.

Market Dynamics

The integration of DR with smart grids and the rising awareness and adoption of automated DRMS by utilities and customers are believed to be the key growth factors.Continuous improvement in DRMS for efficient energy conservation is expected to favourably impact the adoption of DRMS in the future. Optimized DR management, improved system stability, customer cost reduction, and competitive retails suppliers (entrants) in the market are also drivers for DRMS. Yet, the uptake of DRMSs by vendor has been slow. High cost of the system and the complexity associated with it are key barriers to adoption. Lack of awareness among customers about DR programs and their benefits is also a major challenge posed by the otherwise growing market for the technology.

Market Segmentation

DRMS can be classified into Agriculture, Manufacturing, Municipal, University, School and Hospital (MUSH), Office & Commercial Buildings, and Energy & Power based on End-User. By service, they are segmented as Managed Services, System Integration & Consulting Services, Curtailment Services, and Support & Maintenance Services. Based on Technology outlook, DRMS can be divided into Conventional and Automated DR. By component outlook, DRMS is of two types, Hardware and Software. By Application outlook, DRMS is segmented into Residential, Industrial, and Commercial.

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Geographic Analysis

The U.S. accounts for the largest revenue share in the market. Japan and Canada are bound to emerge as the key markets for the technology in the future. The Middle Eastern and Latin American regions are expected to experience the fastest growth rate, which may be attributed to the promotion of OpenADR Alliance, regulations favouring the implementation of DRMS, and the rising awareness of the program among customers. However, inviting investments in these regions is a huge mission.

Key Players

EnerNoc Inc., Comverge, CPower, Honeywell International Inc., Schneider Electric, Siemens AG, and ABB are some of the top DR solution providers. Other major players in the DR program include Johnson Controls, Eaton Corporation Plc, Ecobee, EnergyHub Inc., General Electric, Nest Labs, Opower, and ThinkEco Inc. Certain start-ups, like SureGrid, BuildingIQ, and EPS Corp. have established the cloud-based energy management system and are projected to play a crucial role in the growth of DRMS.

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