Market Overview:
The global Residential Demand Response Management Systems (DRMS) market is expected to grow at a CAGR of XX% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for energy efficiency and the need for reducing greenhouse gas emissions. The DRMS market can be segmented on the basis of type into hardware and software. The hardware segment is further sub-segmented into controllers, meters, switches, and others. The software segment is further sub-segmented into real-time monitoring systems, load management systems, outage management systems, and others. On the basis of application, the DRMS market can be divided into countryside and city applications. Geographically, the DRMS market can be segmented into North America, Latin America Europe Asia Pacific Middle East & Africa (MEA).
Product Definition:
A residential demand response management system (DRMS) is a computerized system used to remotely control energy consumption in individual residences. DRMS allow utilities to manage residential demand by reducing or interrupting power to specific appliances or devices, such as air conditioners, pool pumps, and water heaters. By managing residential demand, utilities can improve system reliability and reduce the need for new infrastructure investments. In addition, DRMS can help consumers save money on their energy bills by allowing them to conserve energy when prices are highest or when the grid is under stress.
Hardware:
Hardware is the part of Demand Response Management Systems (DRMS) that includes control devices such as switches, meters, and appliances. Hardware components are used to collect energy data from customer’s end-use facilities and feed it into a software program for analysis. The software then displays graphs & charts showing the usage trend over a period of time which can be used by customers or vendors in decision making process.
Software:
Software is an electronic device or a set of instructions to solve a particular problem. It can be in the form of apps, programs, tools or even computer services. Software solutions are used in Demand Response Management Systems (DRMS) for controlling and managing the energy consumption of buildings through automated control mechanisms that respond to customer demands for electricity by adjusting supply accordingly.
The software helps manage tasks such as demand forecast.
Application Insights:
The city application segment accounted for the largest revenue share of over 60% in 2017. Demand response management systems are widely used in urban areas to save electricity and reduce greenhouse gas emissions. Residential areas across the globe have started adopting DRMS to curb energy consumption and comply with environmental regulations.
Demand response is most commonly applied in city applications as it offers higher potential savings than rural areas. Countries, such as Germany, have been leading the way when it comes to demand response implementation in urban areas owing to high awareness about energy efficiency among consumers and utilities along with a supportive regulatory environment for DR programs. The countryside application segment is expected witness significant growth over the forecast period due to increasing consumer awareness regarding their power usage patterns coupled with rising adoption ofDRM at an individual level by farmers across various regions including North America, Europe, Asia Pacific and Middle East & Africa).
Regional Analysis:
North America is expected to dominate the global market over the forecast period. The growth can be attributed to increasing awareness among consumers regarding their energy usage, coupled with technological advancements in demand response management systems.
Asia Pacific region is anticipated witness considerable growth over the next eight years owing to increasing adoption by service providers in order for them selves sustainability.
Growth Factors:
- Increasing demand for energy-efficient appliances and devices
- Favorable government policies and regulations for energy conservation
- Rising awareness about the benefits of using residential demand response management systems
- Growing number of smart homes and buildings
- Proliferation of internet of things (IoT)
Scope Of The Report
Report Attributes
Report Details
Report Title
Residential Demand Response Management Systems Market Research Report
By Type
Hardware, Software
By Application
Countryside, City
By Companies
ABB, Siemens, Eaton, Schneider Electric, AutoGrid, GE, EnerNOC, EnergyHub, Itron, Lockheed Martin
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
184
Number of Tables & Figures
129
Customization Available
Yes, the report can be customized as per your need.
Global Residential Demand Response Management Systems Market Report Segments:
The global Residential Demand Response Management Systems market is segmented on the basis of:
Types
Hardware, Software
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Countryside, City
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- ABB
- Siemens
- Eaton
- Schneider Electric
- AutoGrid
- GE
- EnerNOC
- EnergyHub
- Itron
- Lockheed Martin
Highlights of The Residential Demand Response Management Systems Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Hardware
- Software
- By Application:
- Countryside
- City
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Residential Demand Response Management Systems Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
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- Consumer Insights
- Understanding Competition Scenario
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Residential demand response management systems (DRMS) are a type of energy management system that helps to reduce energy consumption in residential buildings. DRMS can help to manage the use of electricity, natural gas, and water by adjusting the amount of power or water supplied to a building based on how much is being used.
Some of the major companies in the residential demand response management systems market are ABB, Siemens, Eaton, Schneider Electric, AutoGrid, GE, EnerNOC, EnergyHub, Itron, Lockheed Martin.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Residential Demand Response Management Systems Market Overview 4.1 Introduction 4.1.1 Market Taxonomy 4.1.2 Market Definition 4.1.3 Macro-Economic Factors Impacting the Market Growth 4.2 Residential Demand Response Management Systems Market Dynamics 4.2.1 Market Drivers 4.2.2 Market Restraints 4.2.3 Market Opportunity 4.3 Residential Demand Response Management Systems Market - Supply Chain Analysis 4.3.1 List of Key Suppliers 4.3.2 List of Key Distributors 4.3.3 List of Key Consumers 4.4 Key Forces Shaping the Residential Demand Response Management Systems Market 4.4.1 Bargaining Power of Suppliers 4.4.2 Bargaining Power of Buyers 4.4.3 Threat of Substitution 4.4.4 Threat of New Entrants 4.4.5 Competitive Rivalry 4.5 Global Residential Demand Response Management Systems Market Size & Forecast, 2018-2028 4.5.1 Residential Demand Response Management Systems Market Size and Y-o-Y Growth 4.5.2 Residential Demand Response Management Systems Market Absolute $ Opportunity
Chapter 5 Global Residential Demand Response Management Systems Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Residential Demand Response Management Systems Market Size Forecast by Type
5.2.1 Hardware
5.2.2 Software
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Residential Demand Response Management Systems Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Residential Demand Response Management Systems Market Size Forecast by Applications
6.2.1 Countryside
6.2.2 City
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Residential Demand Response Management Systems Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Residential Demand Response Management Systems Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Residential Demand Response Management Systems Analysis and Forecast
9.1 Introduction
9.2 North America Residential Demand Response Management Systems Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Residential Demand Response Management Systems Market Size Forecast by Type
9.6.1 Hardware
9.6.2 Software
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Residential Demand Response Management Systems Market Size Forecast by Applications
9.10.1 Countryside
9.10.2 City
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Residential Demand Response Management Systems Analysis and Forecast
10.1 Introduction
10.2 Europe Residential Demand Response Management Systems Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Residential Demand Response Management Systems Market Size Forecast by Type
10.6.1 Hardware
10.6.2 Software
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Residential Demand Response Management Systems Market Size Forecast by Applications
10.10.1 Countryside
10.10.2 City
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Residential Demand Response Management Systems Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Residential Demand Response Management Systems Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Residential Demand Response Management Systems Market Size Forecast by Type
11.6.1 Hardware
11.6.2 Software
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Residential Demand Response Management Systems Market Size Forecast by Applications
11.10.1 Countryside
11.10.2 City
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Residential Demand Response Management Systems Analysis and Forecast
12.1 Introduction
12.2 Latin America Residential Demand Response Management Systems Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Residential Demand Response Management Systems Market Size Forecast by Type
12.6.1 Hardware
12.6.2 Software
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Residential Demand Response Management Systems Market Size Forecast by Applications
12.10.1 Countryside
12.10.2 City
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Residential Demand Response Management Systems Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Residential Demand Response Management Systems Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Residential Demand Response Management Systems Market Size Forecast by Type
13.6.1 Hardware
13.6.2 Software
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Residential Demand Response Management Systems Market Size Forecast by Applications
13.10.1 Countryside
13.10.2 City
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Residential Demand Response Management Systems Market: Competitive Dashboard
14.2 Global Residential Demand Response Management Systems Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 ABB
14.3.2 Siemens
14.3.3 Eaton
14.3.4 Schneider Electric
14.3.5 AutoGrid
14.3.6 GE
14.3.7 EnerNOC
14.3.8 EnergyHub
14.3.9 Itron
14.3.10 Lockheed Martin