North America Automated Demand Response Management System Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 25.50 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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North America Automated Demand Response Management System Market Analysis
During the time frame of the forecast, the North American automated demand response system market is expected to register a CAGR of 25.5%.
COVID-19 had a detrimental effect on the market.However, the market has currently rebounded to pre-pandemic levels.
- The market is likely to be driven by things like the need for an energy management system that works well.Also, increased penetration of renewable energy is expected to drive the market during the forecast period.
- However, the privacy concern and the inability of some industries to comply with the reduction in demand at the need of the hour are likely to act as restraints for the market.
- Integrated demand-side management (IDSM) is expected to provide a great opportunity for the studied market. The use of IDSM, closely coordinating multiple demand-side resources, offers a more forward-thinking and smarter approach to building energy management and helps customers maximize cost-effective savings and control opportunities.
- The United States is expected to dominate the market across the region due to the growing demand for renewable energy and efficient ways to manage the electricity generation mix.
North America Automated Demand Response Management System Market Trends
Increased Penetration of Renewable Energy to Drive the Market
- Renewable energy power sources are intermittent, and they fluctuate over time. For instance, solar power and wind power plants are heavily dependent on weather conditions.
- Implementation of demand response management system can help by ensuring that when such disruptions happen, demand can be reduced, in order to meet the supply demand balance. In contrast to energy storage, which aims to reallocate supply to times of greater demand, DRMS aims to reallocate demand to times of increased supply-demand gap, hence, addressing the problems on the both sides.
- Demand response controls coupled with on-site generation using geothermal, solar, wind, biomass, or landfill-gas-to-energy provide the off-grid power needed to keep facilities running, while reducing energy use from the grid. Demand response present potentially important sources of bulk power system services that can aid in integrating variable renewable generation.
- Apart from that, some utility companies have expanded the scope of demand-response system, by proving the dynamic electricity prices for their consumers for not only consumption but also for selling electricity back to the grid. For example, during peak hours, the consumers can get higher prices for selling the electricity back to the grid system. The enhanced scope of the demand-response system is expected to help integrating not only the utility-scale but also small, residential renewable sources in the power generation system.
- Moreover, with government assistance, energy security, and declining costs, the renewable energy sector is expected to register significant growth, in turn driving the North America demand response management systems market during the forecast period.
United States To Drive the Market
- Demand response programs typically offer customers a rebate or lower energy costs for reducing energy use during specified hours or allowing the utility to cycle their air-conditioning systems when needed.
- Advanced meters are the most prevalent type of metering deployed throughout the United States, accounting for more than 50% of all meters installed and operational in the country. Adding to this, the total number of customers enrolled under the demand response programs in the United States reached around 10.2 million (including residential, commercial, industrial, and transportation), representing an increase of 6.1% from 2013's value. Of all the customers enrolled in the demand response program, residential customers accounted for more than 93% in 2020 and the remaining share was distributed among the industrial and transportation customers.
- In May 2022, NJR Clean Energy Ventures (CEV) started construction on an 8.9-MW floating solar installation in Millburn, New Jersey, which is expected to be the largest floating array in the United States. The project uses a floating racking system, with 16,510 solar panels that are likely to be installed on a reservoir located at the New Jersey American Water Canoe Brook Water Treatment Plant.
- Demand Response (DR) has been in existence in the United States for many years. DR system allows and encourages consumers to temporarily switch off, turn down or shift the nonessential electricity in a reliable, fast, cost-effective, and automated fashion.
- Moreover, in 2021, electric utilities in the United States had about 111 million advanced (smart) metering infrastructure (AMI) installations, representing an increase of around 10% over the previous year's value. About 88% of the AMI installations were residential customer installations. Plans and requirements for the installation of smart meters adopted in more than 11 states across the country appear to be paying off significant increases in meter penetration rates.
- This, increasing trend in the smart/ AMI meter installations in the country is expected to boost the smart grid infrastructure, thereby, increasing the demand for ADRMS in the coming years.
North America Automated Demand Response Management System Industry Overview
The North America demand response management system market is moderately fragmented. Some of the key players (in no particular order) are ABB Ltd, Siemens AG, Honeywell International Inc., Enel SpA, AutoGrid Systems Inc., etc.
North America Automated Demand Response Management System Market Leaders
ABB Ltd
Siemens AG
Honeywell International Inc.
Enel SpA
AutoGrid Systems Inc.
*Disclaimer: Major Players sorted in no particular order
North America Automated Demand Response Management System Market News
- July 2022: Australia and the United States, at the Sydney Energy Forum signed an agreement to helps in achieving greater international research collaborations in areas related to renewable energy, electricity grids, hydrogen, and plastic wastes.
North America Automated Demand Response Management System Market Report - Table of Contents
1. INTRODUCTION
1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions
2. EXECUTIVE SUMMARY
3. RESEARCH METHODOLOGY
4. MARKET OVERVIEW
4.1 Introduction
4.2 Market Size and Demand Forecast in USD million, till 2028
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.5.1 Drivers
4.5.2 Restraints
4.6 Supply Chain Analysis
4.7 Industry Attractiveness - Porter's Five Forces Analysis
4.7.1 Bargaining Power of Suppliers
4.7.2 Bargaining Power of Consumers
4.7.3 Threat of New Entrants
4.7.4 Threat of Substitutes
4.7.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION BY GEOGRAPHY
5.1 United States
5.2 Canada
5.3 Rest of North America
6. COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 ABB Ltd.
6.3.2 Siemens AG
6.3.3 Honeywell International Inc.
6.3.4 Enel SpA
6.3.5 AutoGrid Systems Inc.
6.3.6 General Electric Company
6.3.7 Centrica PLC
6.3.8 Itron Inc.
6.3.9 Lockheed Martin Corporation
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
North America Automated Demand Response Management System Industry Segmentation
An automated demand response system is a fully automated way for an electric company to send signals to a customer's control system. The North American automated demand response system market is segmented by geography. The report also covers the market size and forecasts for the automated demand response system market across the major countries in the region. The market size and forecasts for each segment have been done in terms of revenue (USD million).
North America Automated Demand Response Management System Market Research FAQs
What is the current North America Automated Demand Response Management System Market size?
The North America Automated Demand Response Management System Market is projected to register a CAGR of greater than 25.5% during the forecast period (2024-2029)
Who are the key players in North America Automated Demand Response Management System Market?
ABB Ltd, Siemens AG, Honeywell International Inc., Enel SpA and AutoGrid Systems Inc. are the major companies operating in the North America Automated Demand Response Management System Market.
What years does this North America Automated Demand Response Management System Market cover?
The report covers the North America Automated Demand Response Management System Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the North America Automated Demand Response Management System Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
North America Automated Demand Response Management System Industry Report
Statistics for the 2024 North America Automated Demand Response Management System market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. North America Automated Demand Response Management System analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
