Residential Demand Response Management System (DRMS) acts as a crucial arrangement for balancing energy supply with consumption requirement at our homes and stabilizing load on grids during peak hours. An automated demand response is established on AMI, which builds an integrated network between the customers (or home owners) participating in the DR program and the utility for exchanging signals and communicating in real time.
This is facilitated by Home energy management systems (HEMS) devices, that allow home owners to control, monitor, and manage their electricity consumption optimally.The industry is determined to develop a universal platform capable of solving issues concerned with the interoperability, interface, and installation.
Download Sample of This Strategic Report:https://www.kennethresearch.com/sample-request-10064637
The entry of cloud-based DRMS can self-adjust the power consumption of home appliances at the users’ end by examining data based on the usage pattern, weather condition, room occupancy, and other factors that are recorded on a daily basis.
The appliances are programmed to be turned off during hours of peak consumption, after analyzing the data collected by the home network. Continuous improvement in DRMS for efficient energy conservation is bound to favorably impact the adoption of DRMS at homes in the near future.
With the increasing applicability of DRMS, focus on the participation of residential customers is gaining importance. The residential sector is projected to be the fastest growing user segment in the global DRMS market. Rising awareness among residential consumers about the price- based and incentive- based DR programs is expected to boost the industry growth.
A growing adoption of smart grid technologies, and a rising need for energy conservation are major drivers in the Residential DRMS market. Price volatility of energy and consumer switching are the other drivers contributing to the growth of the DRMS market. However, lack of awareness among customers about DR programs and their benefits along with a huge initial installation cost of devices for the adoption of DRMS and interoperability issues are the challenges posed by the otherwise growing market for the technology.
The cost advantages of SaaS and deployment of cloud-based DRMS provides tremendous opportunities to the growth of the market.
By service, Residential DRMSs are segmented as Managed Services, System Integration & Consulting Services, Curtailment Services, and Support & Maintenance Services. By functionality, Residential DRMS can be divided into Control devices, User interface, and Enabling technologies. Based on Technology outlook, DRMS can be divided into Conventional and Automated DR. By component outlook, DRMS is of two types, Hardware and Software.
The Residential DRMS market is segmented into regions such as North America, Europe, Asia-Pacific, Middle East & Africa and Rest of the World (RoW). The North American region is leading the market owing to increased deployment of services such as Home Area Network, investments made in the development of the system and the increase in the adoption of the system in the region.
The European region is anticipated to drive growth in future due to rapidly increasing roll-out of smart meters.Asia Pacific is projected to exhibit highest growth among all the regions due to evolving economy of countries like India, Philippines and China. Cloud-based deployment in these regions has increased the demand for the demand response management system.
The key vendors in the residential demand response market include ABB Ltd., Schnieder Electric SE, Panasonic Corporation, Nest Labs, Inc., Comcast Cable, Cisco Systems, Inc., Eaton Corporation, Honeywell International Inc., Johnson Controls Inc., Comverge Inc., Siemens AG, Lockheed Martin Corporation, EnerNOC Inc., Alstom SA, CPower Inc. and others.
Major players in DR boost their market share by enhancing sales channels across the globe. Introducing economical products & services is another strategy followed by major DRM vendors to gain competitive edge.
The report contains comprehensive analysis on:
Global Residential Demand Response Management Systems Market Segments
Global Residential Demand Response Management Systems Market Drivers, Restraints and Opportunities
Global Residential Demand Response Management Systems Market Size & Forecast 2016 to 2022
Supply & Demand Value Chain
Global Residential Demand Response Management Systems Market Current Trends
Competition &Major Companies
Technology and R&D Status
Porters Five Force Analysis
Strategic and Critical Success Factor Analysis of Key Players
Regional analysis for Feed Software Market includes
US and Canada
Mexico, Brazil, Argentina and Rest of Latin America
Request For Full Report:https://www.kennethresearch.com/sample-request-10064637
EU5 (Germany, France, Italy, Spain, U.K.)
Nordic Countries (Denmark, Finland, Norway, and Sweden)
Benelux (Belgium, The Netherlands, and Luxembourg)
Rest of Western Europe
Rest of Eastern Europe
Australia and New Zealand
Rest of Asia Pacific
Middle East and Africa
GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
Rest of Middle East and Africa
This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides in-depth market segmentation that is derived from extensive product mapping exercises, macro-economic factors and other qualitative and quantitative insights. The impact of all such factors are delivered across multiple market segments and geographies.
Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
Consumer and Pricing Analysis
Market dynamics of the industry
In-depth Market Segmentation
Historical and Projected Market Sizing in terms of volume and value
Recent market trends and Impact Factors
R&D Status and Technology Overview
Extensive Industry Structure Coverage
About Kenneth Research
Kenneth Research is a reselling agency providing market research solutions in different verticals such as Automotive and Transportation, Chemicals and Materials, Healthcare, Food & Beverage and Consumer Packaged Goods, Semiconductors, Electronics & ICT, Packaging, and Others. Our portfolio includes set of market research insights such as market sizing and market forecasting, market share analysis and key positioning of the players (manufacturers, deals and distributors, etc), understanding the competitive landscape and their business at a ground level and many more. Our research experts deliver the offerings efficiently and effectively within a stipulated time. The market study provided by Kenneth Research helps the Industry veterans/investors to think and to act wisely in their overall strategy formulation
Email : Sales@kennethresearch.com
Phone: +1 313 462 0609