Global Market Study on Demand Response Systems: Growing Need for Efficient Energy Utilization Spurring Market Growth


Demand Response System  Market
  • Published On : Jan-2020 |
  • Pages : 346 Pages |
  • Format : Demand Response System  Market Demand Response System  Market Demand Response System  Market Demand Response System  Market

A demand response system is an energy solution, which enables the settlement of distributed and demand-side resources, and helps end users change the pattern of energy use in response to changes in electricity prices over time, or to provide incentive designed to induce lower electricity use at high market rates.

The demand response system market is driven by the need of end users to lower electricity costs (or associated price and volume risks). This goal can be achieved through a contract or tariff for saving the cost of retail electricity. On the demand side, when the retail price is high, the customer can reduce electricity consumption, and increase consumption when the retail price is low, to reduce the overall cost of electricity.

Rising Adoption of Demand Response Systems to Manage Electricity Cost

If a company implements a demand response system to reduce electricity use when wholesale prices rise or the grid is overloaded, that company is eligible for monthly payments. Moreover, the utility organization may also ask these companies to reduce electricity usage to avoid crisis by offering these monthly payments. Also, if a company shifts to a back-up generator to relieve stress on the grid during emergencies, it could receive similar payments, which is driving the growth of the demand response system market across the globe.

Rapid Electric Vehicle Penetration to Spur Market Growth

Utilities need to focus on the high adoption rate of electric vehicles (EV), which differs substantially from one region to another, driven by a lot of factors. There are different ways to optimize the impact of load growth from electric vehicles. In the present era of transportation electrification, there are very few utilities that can see the need for distribution systems for EV charging with large-scale active demand response systems at current adoption levels. This can be a huge opportunity for utilities to increase revenue in the demand response system market.

Lack of Awareness for Demand Response System Restricting Market Growth

Small businesses and the residential sector pose significant challenges for price-based demand response systems. Many households and small businesses lack technical and operational understanding about large-load appliances consuming high energy, and are unfamiliar with demand response-enabling technologies that can promote efficient energy management. Additionally, there are less number of associations that spread knowledge or raise awareness and prove feasibility. These are some of the key factors that are expected to hamper the growth of the demand response system market.

North America Dominating Global Demand Response System Market

North America is expected to be the dominating region in terms of value in the global demand response system market. Moreover, in the coming years, the region is expected to generate substantial revenue, owing to the rising need for reliable and effective electrical networks to facilitate the establishment of buildings as integral components of smart grids. Furthermore, the market in Asia Pacific excluding Japan is estimated to record significant growth during the forecast period, owing to the increasing adoption of demand response system solutions in the residential sector and small & medium enterprises in the region.

Analysts’ Viewpoint

A comprehensive view of the demand response system market has led our analysts to conclude that, the market is progressing at a remarkable rate. The market in Asia Pacific excluding Japan is anticipated to grow at a significant rate during the forecast period. Product expansion and strategic partnerships with other demand response system providers are some strategies opted by key players to push their sales growth. Strong financial position and new technological innovations by key market players will also drive the growth of the demand response system market in the years to come.

Demand Response System Market - Report Scope

Persistence Market Research (PMR) recently published a new research analysis on the demand response system market for the assessment period of 2019-2029. The research study on the demand response system market offers a close look at the evolving aspects of the demand response system market as well as the dynamics impacting market growth. The research study focuses on key developments that have made their mark in the demand response system market and other developments that are on the cards. The report talks about various macro- and micro-economic factors responsible for having an in-depth impact on the growth of the demand response system market.

A direct market overview provides the growth scenarios and market potential with maximum precision, which is adjudged with suitable assumptions. The report features unique and relevant factors that are likely to have a significant impact on the demand response system market during the forecast period. This report includes a detailed and considerable amount of information, which will help new manufacturers in the most comprehensive manner for better understanding.

Several stakeholders in the demand response system market can rely on the data offered in this research study and delve into pragmatic decision-making. Moreover, information offered in the demand response system market report also helps new market entrants expand their bases in the demand response system market.

The report elaborates the historical and current trends molding the growth of the demand response system market. The performance journey of the demand response system market has been drawn and analyzed in way that the lucrative side of the market is evident to readers. The competitive landscape presented in the demand response system market report gives a detailed outlook of profiles of key companies operating in the market, along with their differential strategies and key focus areas.

Demand Response System Market: Segmentation

PMR’s research study on the global demand response system market offers a detailed market taxonomy, wherein, key segments have been discussed in detail. Segmentation of the demand response system market has been offered on the basis of component, system type, end user, and region. Every segment has been analyzed in detail and data pertaining to the growth of each segment has been included in the study.

Component

System Type

End User

Region

Hardware

  • Smart Thermostats
  • Load Control Switches
  • Smart Meters
  • Smart Plugs
  • Others

Conventional Demand Response Systems

Residential

North America

Demand Response Management Platforms

Automated Demand Response Systems

Commercial

Latin America

Services

  • Design and Management Services
  • Technical Support
  •  Installation Services
  • Energy Consulting

Industrial

Western Europe

Eastern Europe

Asia Pacific Excluding Japan

Japan

Middle East and Africa

Demand Response System Market: Key Questions Answered in Report

The research study on the demand response system market offers inclusive insights about the growth of the market in the most comprehensible manner for better understanding of users. Insights offered in the demand response system report answer some of the most salient questions that assist the stakeholders in gauging all the emerging possibilities.

  • How has the rapidly changing business environment turned into a major growth engine for the demand response system market?
  • How is ensuring compliance with industry regulations boosting the demand response system market?
  • What are the key trends that are constantly shaping the growth of the demand response system market?
  • Which are the prominent regions offering plentiful opportunities for the demand response system market?
  • What are the key differential strategies adopted by key players to command a significant chunk of the global market share?

Demand Response System Market: Research Methodology

A unique and promising research methodology forms the base of the demand response system market during the forecast period. The report has been prepared after a comprehensive analysis of the market happenings and then riveting insights have been compiled meticulously. The research methodology of the demand response system market has been a two-step process that comprises of primary and secondary research. Key stakeholders, which include demand response system manufacturers, suppliers, and distributors, have been interviewed and experts of several designations, including executive vice presidents, directors, service engineers, technical advisors, GM marketing professionals, and sales professionals.

Secondary sources referred to garner the report findings include investor presentations of manufacturers, World Bank, and many other credible sources.

Companies covered in Demand Response System Market Report

Hardware Vendors

  • ABB
  • Eaton
  • General Electric
  • Honeywell International Inc.
  • Schneider Electric
  • Siemens AG
  • Tantalus Systems Corp. (Energate)
  • Open Access Technology International, Inc.
  • Verdigris Technologies, Inc.

Software & Service Vendors

  • Oracle
  • Enel X
  • Ormat Technologies Inc.
  • Trilliant Holdings Inc.
  • AutoGrid Systems, Inc.
  • Encycle Corporation
  • Direct Technology (ESG)
  • Conservation Resource Solutions, Inc.
  • Operation Technology, Inc.

Demand Response System Market

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