Worldwide Latest Market Research Report on “Global Automated Demand Response Management Systems Market – Analysis of Growth, Trends and Forecasts (2019 – 2023) 2019-2023”
The Global Automated Demand Response Management Systems market with CAGR of XX% 2019-2023. The report begins from overview of Industry Chain structure, and describes the industry environment, then analyses market size and forecast of Automated Demand Response Management Systems by product, region, and application, in addition, this report introduces market competition situation among the vendors and company profile, besides, market price analysis and value chain features are covered in this report.
Competitor Analysis: by product types, market share, applications, sales, and revenue.
- Silver Spring Networks Inc.
- Mitsubishi Electric Corporation
- Fujitsu Ltd
- General Electric Co
- Enernoc Inc
- Honeywell International Inc.
- ABB Ltd
- Schneider Electric SE
- Siemens AG
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Overview of Automated Demand Response Management Systems Market:
The global automated demand response management systems (ADRMS) market value was estimated at USD 39.5 million in 2016, and it is expected to witness robust growth during 2019 – 2023 (henceforth referred to as forecast period). Globally, the rising concerns for the implementation of energy efficient management systems in stressed-out power grids, coupled with factors such as increased retirements of conventional fuel-based power plants are expected to further increase the demand for automated demand response management system during the forecast period. The adoption of technologies, such as digitalization and automation for reducing the electricity demand-supply imbalance, is expected to increase at a rapid rate during the forecast period, and it is expected to create an excellent opportunity for all companies involved in the ADRMS market.
Conventional Power Plants Retirement to Fuel the Demand
Owing to higher energy efficiency and environmental advantages offered by natural gas and renewable based power generation, there is a growing trend across the globe for shifting away from the conventional fuel such as coal and nuclear-based power generation. A rise in the retired coal power plants is observed, as compared to planned new projects, which is almost six to one in India. China is also reducing more coal power plants, as compared to its new builds, and is facing an electricity crisis, with an overall utilization of about 55% from thermal power generation. In other parts of South Asia, Europe, South America, and Africa, the retirement to completion ratio is expected to be four to one. The ratio is expected to create a load on grid stability and give rise to the demand for ADRMS, globally.
Asia-Pacific to Register Highest Market Growth
The demand for electricity has increased exponentially in Asia-Pacific owing to increased urbanization and industrialization activities. However, the transmission and distribution losses in Asia-Pacific remain the highest across the globe. Governments in Asia-Pacific countries are expected to focus extensively on improving the power infrastructure, in order to improve the efficiency and increase renewable mix in the power generation. Various pilot projects pertaining to smart grid technologies have been initiated, which is expected to offer excellent opportunities for ADRMS businesses over the forecast period. However, North America is expected to hold the largest market share during the forecast period with Europe emerging as another significant market for ADRMS business.
Quest for Energy Efficiency and Smart Pricing to fuel the demand for ADRMS in the US
With 100% electrification rate achieved decades ago, the focus of the US Department of Energy (DOE) has not been generation of electricity in recent years. Instead, power companies are emphasizing on increasing the efficiency and implementation of smart pricing mechanism through the installation of smart meters. Deployments reached approximately 70 million smart meters by the end of 2016, and are projected to reach 90 million by 2020. Customers are also accepting ADRMS. Smart pricing programs are also increasing across the United States. Currently, millions of customers (with smart meters across the United States) are enrolled in time-based pricing programs, which reward participants for voluntarily reducing energy consumption during designated peak days, when the demand for electricity is expected to be high. The demand for ADRMS business is expected to further complement from the same, during the forecast period.
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REASONS TO PURCHASE THIS Report:
The Global demand for Automated Demand Response Management Systems Market is forecast to report strong development driven by consumption in major evolving markets. More growth opportunities to come up between 2019 and 2025 compared to a few years ago, signifying the rapid pace of change.
Global Automated Demand Response Management Systems Market highlights the following key factors:
- A complete informative analysis of Automated Demand Response Management Systems industry, which includes a valuation of the parental market.
- Emerging trends by sections and regional markets.
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- Current and predictable size of Automated Demand Response Management Systems market from the outlook of both value and volume.
- Reporting and estimation of recent industry developments.
- References to companies for establishment their position in the Automated Demand Response Management Systems market.
Automated Demand Response Management Systems Market report passes on a fundamental overview of the Market including its definition, applications, and advancement. Furthermore, the Industry report investigates the ecumenical Major Automated Demand Response Management Systems Market players in detail. Automated Demand Response Management Systems Market report gives key bits of Cautiousness and subsisting status of the Players and is a basic Source obviously and heading for Companies and people energized by the Industry.
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The growth of this market worldwide is subjected to various factors; including consumer world-class Automated Demand Response Management Systems Market of many Automated Demand Response Management Systems Market products, inorganic company growth models, price volatility of raw materials, product innovation along with economic prospects in both producer and consumer countries.
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