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.
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There are many drivers, restraints and opportunities shaping the growth of the market worldwide. Volatility in energy price is driving the market worldwide.
Furthermore, smart grid rollouts have also contributed to the expansion of the sector. Regions such as North America is likely to create greater opportunities in the next 6 years.
Among the different industry verticals manufacturing is expected to provide greater opportunities globally.
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.
A closer look at the competitive landscape reveals that major IT brands are busy launching solutions and generating clients in the same month itself. Prominent market players are also seen acquiring new companies or local market players to maintain their competitive edge.
Other business strategies favored by the companies include constant upgradation, joint ventures and collaborations. Prominent market players active in the market are Honeywell, GE, Siemens, ABB, Johnson Controls, EnerNOC and Schneider Electric
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KEY BENEFITS FOR STAKEHOLDERS
- The market research report provides an integrated information on the major drivers, restraints and opportunities influencing the industry growth, during the forecast period 2014 2020.
- The study further drills down to produce data volume by components, end customers and demography.
- SWOT analysis of major brands, highlights weaknesses, strengths, opportunities and threats. The data proves effective for business owners planning on designing their marketing and branding strategies.
- Region wise business performance discussed in the market research report would be valuable for enterprises planning to explore new areas.
- The report not only examines the market dynamics but also takes a closer look at the growth rate and industrial chain structure.
- Study further weigh up on the prominent market players and what they are doing different to position their product in the already crowded marketplace.
- Assessment of upstream and downstream market also forms an important part of the report.
Key Market Players
- Johnson Controls
- Schneider Electric
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