Systems assist in low-carbon policies and regulation, the changing resources mix, and evolving utility business models
A new report from Navigant Research examines the market for demand response management systems (DRMSs), offering an analysis of market issues, key technologies, and the competitive landscape, with global forecasts, segmented by region and sector, through 2025.
Some utilities have deployed DRMSs as a way to manage their portfolios of demand response (DR) programs, address existing compliance and financial risks, and increase customer satisfaction. As the utility landscape becomes more complex, numerous vendors are entering this market, offering solutions that can assist with renewables integration, reduced customer costs, and grid stability. Click to tweet: According to a new report from @NavigantRSRCH, global DRMS spending is expected to grow from $46.1 million in 2016 to $232.3 million in 2025.
“As the scale and complexity of DR programs has increased over the last decade, operational reliability has become more critical, and the choices of communication protocols and devices have expanded,” says Brett Feldman, principal research analyst with Navigant Research. “There is a need for more centralized management and control, similar to the power generation side of the electricity market.”
Though DR plays an important role in low-carbon policies and regulations, the changing resources mix, and evolving utility business models, vendors note uptake of DRMSs has been slow. According to the report, the key barriers to further adoption are utilities finding funds to pay for these systems and the complexity of DRMS integration with other utility systems.
The report, Demand Response Management Systems, analyzes the DRMS market, covering residential, commercial and industrial, on-premise, and software as a service (SaaS) solutions. The study provides an analysis of the market issues, including drivers and implementation barriers, associated with DRMSs. Global market forecasts, segmented by region and sector (investor-owned utilities, federal/state-owned utilities, municipal utilities, electric cooperatives, distribution system operators, and retailers), extend through 2025. The report also examines the key technologies related to DRMSs, as well as relevant case studies and the competitive landscape. An Executive Summary of the report is available for free download on the Navigant Research website.
Contact: Lindsay Funicello-Paul
* The information contained in this press release concerning the report, Demand Response Management Systems, is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.