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Global Demand Response Management System Market to reach USD 372.59 billion by the end of 2029.

Global Demand Response Management System Market Size study & Forecast, by Solution (Residential DRMS, Commercial DRMS and Industrial DRMS), by Verticals (Agriculture, Manufacturing and Energy and Power) and Regional Analysis, 2022-2029

Product Code: ICTICTS-73941120
Publish Date: 24-04-2023
Page: 200

Global Demand Response Management System Market is valued at approximately USD 41.67 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 31.5 % over the forecast period 2022-2029. Demand Response Management System (DRMS) enables utilities and distribution companies (Discoms) to monitor, control, schedule, and manage their portfolios of Demand Response (DR) programs and Distributed Energy Resources (DERs). Demand response management enables consumers to unlock their DR prospects using existing assets. Furthermore, this retailer can now provide new solutions, increase consumer loyalty, and ensure customer satisfaction. Furthermore, the demand response programme enables electricity suppliers to implement alternative power-sourcing measures while avoiding large investments in peaking plants. The increasing expansion of smart grid infrastructure and growing volatility in energy prices are key factors driving the market growth.

Over the years the adoption of smart grid infrastructure has significantly increased hence creating strong demand for Global Demand Response Management System Market. For instance, in November 2022, the US Department of Energy (DOE) announced financing of around USD 13 billion for the upgradation and expansion of the US electric grid. Moreover, the funding would be allocated under President Joe Biden’s Bipartisan Infrastructure Law, as well as the Grid Resilience Innovative Partnership (GRIP) Programme and the Transmission Facilitation Programme. In addition, in November 2021, Poland based utility company TAURON received a loan of USD 0.63 billion from the European Investment Bank (EIB) for the modernization of its electricity distribution assets and install an advanced metering infrastructure. Also, growing advancements in Cloud Based DRMS as well as rising urbanization in developing economies would create lucrative growth opportunities for the market over the projected period. However, high initial investment requirement as well as lack of awareness hinders the market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Demand Response Management System Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue, owing to the dominance of leading market players as well as increasing number of favorable initiatives for the establishment of smart grid infrastructure in the region. Whereas Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as rising number of strategic collaborations and partnerships between leading market players in the region. For instance- in February 2023, Tata Power announced a collaboration with the Virtual Power Plant (VPP) and Distributed Energy Management System (DERMS) provider AutoGrid for the deployment of an AI-enabled smart energy management system focusing on the behavioural demand response across its residential, commercial, and industrial customers in Mumbai.

Major market players included in this report are:
ABB Limited
Enernoc Inc.
General Electric
Schneider Electric SA
Siemens AG
Eaton Corporation
Honeywell International, Inc.
Johnson Controls, Inc
Opower, Inc.
Enel SpA

Recent Developments in the Market:
Ø In May 2022, French energy equipment and services company Schneider Electric SE announced the acquisition of Sunnyvale, California–based startup AutoGrid. Moreover, after the acquisition Auto grid would be working as an independent entity.

Global Demand Response Management System Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Solution, Verticals, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Solution
Residential DRMS
Commercial DRMS
Industrial DRMS

By Verticals
Energy and Power

By Region:
North America
Asia Pacific
South Korea
Latin America
Rest of the World

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2029 (USD Billion)
1.2.1. Demand Response Management System Market, by Region, 2019-2029 (USD Billion)
1.2.2. Demand Response Management System Market, by Solution, 2019-2029 (USD Billion)
1.2.3. Demand Response Management System Market, by Verticals, 2019-2029 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Demand Response Management System Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Demand Response Management System Market Dynamics
3.1. Demand Response Management System Market Impact Analysis (2019-2029)
3.1.1. Market Drivers Increasing expansion of smart grid infrastructure Growing volatility in energy price
3.1.2. Market Challenges High initial investment requirement Lack of awareness
3.1.3. Market Opportunities Growing advancements in Cloud-Based DRMS Rising urbanization in developing economies
Chapter 4. Global Demand Response Management System Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Futuristic Approach to Porter’s 5 Force Model (2019-2029)
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. Industry Experts Prospective
4.7. Analyst Recommendation & Conclusion
Chapter 5. Risk Assessment: COVID-19 Impact
5.1. Assessment of the overall impact of COVID-19 on the industry
5.2. Pre COVID-19 and post COVID-19 Market scenario
Chapter 6. Global Demand Response Management System Market, by Solution
6.1. Market Snapshot
6.2. Global Demand Response Management System Market by Solution, Performance – Potential Analysis
6.3. Global Demand Response Management System Market Estimates & Forecasts by Solution 2019-2029 (USD Billion)
6.4. Demand Response Management System Market, Sub Segment Analysis
6.4.1. Residential DRMS
6.4.2. Commercial DRMS
6.4.3. Industrial DRMS
Chapter 7. Global Demand Response Management System Market, by Verticals
7.1. Market Snapshot
7.2. Global Demand Response Management System Market by Verticals, Performance – Potential Analysis
7.3. Global Demand Response Management System Market Estimates & Forecasts by Verticals 2019-2029 (USD Billion)
7.4. Demand Response Management System Market, Sub Segment Analysis
7.4.1. Agriculture
7.4.2. Manufacturing
7.4.3. Energy and Power
Chapter 8. Global Demand Response Management System Market, Regional Analysis
8.1. Demand Response Management System Market, Regional Market Snapshot
8.2. North America Demand Response Management System Market
8.2.1. U.S. Demand Response Management System Market Solution breakdown estimates & forecasts, 2019-2029 Verticals breakdown estimates & forecasts, 2019-2029
8.2.2. Canada Demand Response Management System Market
8.3. Europe Demand Response Management System Market Snapshot
8.3.1. U.K. Demand Response Management System Market
8.3.2. Germany Demand Response Management System Market
8.3.3. France Demand Response Management System Market
8.3.4. Spain Demand Response Management System Market
8.3.5. Italy Demand Response Management System Market
8.3.6. Rest of Europe Demand Response Management System Market
8.4. Asia-Pacific Demand Response Management System Market Snapshot
8.4.1. China Demand Response Management System Market
8.4.2. India Demand Response Management System Market
8.4.3. Japan Demand Response Management System Market
8.4.4. Australia Demand Response Management System Market
8.4.5. South Korea Demand Response Management System Market
8.4.6. Rest of Asia Pacific Demand Response Management System Market
8.5. Latin America Demand Response Management System Market Snapshot
8.5.1. Brazil Demand Response Management System Market
8.5.2. Mexico Demand Response Management System Market
8.5.3. Rest of Latin America Demand Response Management System Market
8.6. Rest of The World Demand Response Management System Market

Chapter 9. Competitive Intelligence
9.1. Top Market Strategies
9.2. Company Profiles
9.2.1. ABB Limited Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
9.2.2. Enernoc Inc.
9.2.3. General Electric
9.2.4. Schneider Electric SA
9.2.5. Siemens AG
9.2.6. Eaton Corporation
9.2.7. Honeywell International, Inc.
9.2.8. Johnson Controls, Inc
9.2.9. Opower, Inc.
9.2.10. Enel SpA
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
After conducting the research, our experts analyze the findings in relation to the research objectives and the specific needs of the client. They generate valuable insights and recommendations that directly address the client’s business challenges. These insights are carefully connected to the research findings to provide a comprehensive understanding.
Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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