“Global Demand Response Management System (DRMS) Report-Market Size And Forecast 2016” Purchase This Report by calling ResearchnReports.com at +1-888-631-6977.
Global Demand Response Management System (DRMS) Industry Report is a professional and in-depth research report on the world’s major regional market conditions of the Demand Response Management System (DRMS) industry, focusing on the main regions (North America, Europe and Asia) and the main countries (United States, Germany, Japan and China).
Demand Response Management System is the software technology platform that helps the utilities, energy retailers, and suppliers in implementing demand response (DR) programs using an integrated system, connected to the commercial, industrial, and residential sites. With the increasing application of Advanced Metering Infrastructure (AMI) meters, utilities get real-time usage data of customers and therefore, the participation of consumers in the programs has seen a substantial growth.
Growing roll-outs of smart grid is expected to remain the key driver of the DRMS market in the coming years. The population growth has also created an impact over availability of natural resources and therefore, the imbalance between energy supply and demand is increasing which has shaped the need for energy efficiency. Therefore, DR programs are initiated with the smart grid and smart meter deployment. Other driving factors include energy price volatility and increasing customer switching rates. However, in regions such as Europe, Middle-East and Africa, and Latin America utilities and service providers have still not presented the robust business case for DRMS and therefore, are inviting investments is a huge mission. The adoption of DRMS is pretty high in North America, but Europe and Asia-Pacific need some strict mandates regarding energy consumption. Nevertheless, cloud-based deployment is expected to provide a huge opportunity for market growth.
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Demand Response is interpreted as a voluntary PJM energy program. The program compensates retail customers for minimizing their electricity load, when instructed by PJM. This usually occurs during high power costs or when a grids reliability is threatened. Demand response management helps consumers unlock their DR prospects with their current assets. Besides this retailer can now provide new solutions and enhance consumer loyalty and ensure satisfaction. In addition, the demand response program enables electricity suppliers to introduce alternative measures to source power and avoid making huge investments in the peaking plants.
The demand response management system industry is segmented based on solutions, verticals, services and geography. Based on solutions the market is segmented into residential DRMS, Commercial DRMS and Industrial DRMS. The business verticals served by the market includes agriculture, manufacturing, energy and power among others. Moreover, based on service the market is segmented into support and maintenance, curtailment services, managed services and system integration and consulting services. The regions served by the demand response system management industry consists of North America, Europe, Asia -Pacific and LAMEA.
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DRMS acts as a crucial arrangement for balancing energy supply with consumption requirement and stabilizing load on grids during peak hours. An automated demand response is established on AMI, which builds an integrated network between the customers participating in the DR program and the utility for exchanging signals and communicating in real time.
Demand response management system (DRMS) is an effective peak load management tool that helps in mitigating the difference between demand and supply of energy. DRMS encourages the end-users to modify their usage patterns of power according to the supply capacity. The need to build highly cost-intensive power plants for electricity generation that are detrimental to the environment can be simply addressed by implementing demand response management system (DRMS). Demand response management system market comprises of price-based and incentive-based options in order to motivate customers to reduce their energy usage during peak hours.
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