(PRWEB) July 12, 2014
Demand Response Management Systems is a crucial peak load management tool with considerable benefits in reducing the imbalance between energy supply and demand. With the help of DRMS, smart grid appliances have been rolled out (due to increasing pressure on the grid) and replaced by Advanced Metering Infrastructure (AMI). This helps in controlling residential appliances and thermostats for load reduction.
DRMS is steadily growing in the North American region, and with government mandates and benefits for energy efficiency and conservation in the U.S. and Canada, the DRMS market is set to grow. The services market is expected to be one of the highest revenue generators for the projected years in the North American region. Although C&I end-users have been involved in DR programs in North America, electric utilities are taking up residential DR programs to engage domestic customers. In the U.S., the government is issuing rules that economic DR needs to be paid the full wholesale price (when it’s above the net benefits threshold), whereas before it was paid the difference between the wholesale price and the retail price for generation and transmission.
The North American Demand Response Management System market is estimated to grow from $ 3,277.2 million in 2013 to $ 12,522.4 million by 2019, at an expected CAGR of 25.1% for the period between 2014 and 2019. The compound annual growth rate indicates that the North American Demand Response Management System market is one of the fastest-growing markets.
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Europe Demand Response Management System Market
The European power market is a corporation of regional markets, most of which are physically inter-connected. The European Parliament and Council Directives laid down the general conditions required to create a single Internal Electricity Market (IEM) in Europe, but avoided specifying a single market model. EU Member States have the freedom to design their markets and regulatory frameworks to suit national conditions. Governments have announced climate change control objectives which will enhance energy efficiency, renewable energy sources, and co-generation of heat and power.
The European Demand Response Management System market is estimated to grow from $ 1,003.6 million in 2013 to $ 6,282.2 million by 2019, at an expected CAGR of 36.3% for the period between 2014 and 2019. The compound annual growth rate indicates that the Europe Demand Response Management System (DRMS) Market is one of the growing markets.
Asia-Pacific Demand Response Management System Market
The APAC region is expected to see significant growth in the DR market. Many countries in the APAC region have strong reasons to enforce DR programs, owing to high energy consumption and developments in the manufacturing sector, and also affordability of existing technologies which improves monitoring and controlling of deployed transmission networks. Countries such as India, Japan, South Korea, Australia, Singapore, China, Malaysia, and New Zealand have already started implementing DR programs. But, due to traditional infrastructure connectivity is poor between the assets and new technology. This leads to problem such as inconsistent performance, inconsistent customer service, and reliability.
The APAC Demand Response Management System market is estimated to grow from $ 575.5 million in 2013 to $ 3,219.9 million by 2019, at an expected CAGR of 33.7% for the period between 2014 and 2019. The compound annual growth rate indicates that the APAC Demand Response Management System market is one of the growing markets.
Middle East and Africa Demand Response Management System Market
The MEA region has seen significant industrialization in the past few years. Yet the methodology of efficiency in energy production and consumption patterns in the region requires improvement. Energy Strategy 2030, introduced by Dubai, aims to reduce energy demand and carbon dioxide emissions by 30% by the year 2030. South African national power utility Eskom Holdings recently engaged with a DR provider to implement its first open market DR program.
The MEA Demand Response Management System market is estimated to grow from $ 200.2 million in 2013 to $ 1,396.9 million by 2019, at an expected CAGR of 38.3% for the period between 2014 and 2019. The compound annual growth rate indicates that the MEA Demand Response Management System market is one of the growing markets.
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