The Europe Demand Response Management System (DRMS) Market is Estimated to Reach $6376.1 Million by 2019, at a CAGR of 36.3%
15 Dec, 2014, 07:30 GMT
FORT WORTH, Texas, December 15, 2014 /PRNewswire/ --
The Europe Demand Response Management System (DRMS) market report defines and segments the Demand Response Management System (DRMS) market, with analysis and forecast of revenue. This market is estimated to grow from $1355.7 million in 2014 to $6376.1 million by 2019, at a CAGR of 36.3%. The Europe Demand Response Management System (DRMS) market is primarily driven by smart grid roll out and energy price volatility
Browse through the TOC of Europe Demand Response Management System (DRMS) market for an in-depth analysis of the industry trends and segments, with help of various tables and figures.
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Demand Response Management System (DRMS) is a peak load management tool which is designed to reduce lower electricity use at times of high wholesale market prices and maintain the balance between energy supply and demand.
DRMS market combines both price-based and incentive-based options to motivate customers to reduce their energy usage during peak hours. Absence of single market model and lack of regulatory mandates in this region have been major factors for the slow growth of DR market in this region. However, many countries in this region have been using DR programs in the Commercial and Industrial (C&I) segment for many years now.
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Demand Response (DR) and Energy Efficiency (EE) collectively help in Demand Side Management (DSM) of energy which is empowering the European consumers to modify the levels and patterns of electricity consumption, thereby improving the grid reliability. Energy markets across the globe are evolving with major smart grid initiatives for meeting long-term goals of creating a secure energy system where generation meets demand. Mass roll outs of electric smart meters enables the time-based electricity pricing options, hence boosting active involvement of end consumers in Demand Response (DR) programs.
Energy intensive C&I consumers have been the major contributor towards the overall market of DR. DR in the residential segment is largely undermined by DR providers, however, it has significant scope of growth which is now corroborated with increasing mass deployments of smart meters and increasing shipments of energy management devices which can be used for interfacing with DR platforms.
This market is segmented on the basis of solutions into C&I DRMS, Residential DRMS and Automated DRMS (ADR). It is further segmented on the basis of devices which include smart appliances (DR Enabled), networked home energy management (HEM), smart thermostats, Load Control (LC) switches and smart plugs. It also provides segmentation on the basis of services curtailment services, system integration and consulting services and managed services. Also, this report contains segmentation on the basis of verticals which are manufacturing, office and commercial buildings, Municipal, University, School, and Hospital (MUSH) Systems, power and energy and agriculture.
The report highlights crucial aspects of the Demand Response Management System (DRMS) market in Europe, such as market share, value chain analysis, and market metrics including drivers and restraints. Additionally, it also presents a comprehensive estimation of leading companies sustaining a firm hold in this marketplace.
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The Global Demand Response Management System (DRMS) Market is expected to grow from $6.77 billion in 2014 to $25.0 billion in 2019, at a CAGR of 29.8% during the period 2014-2019. The market is primarily driven by the mass rollout of smart grids.
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