Global Demand Response Management System Market Research Report – by Service (Consulting, Curtailment, Maintenance, Managed), by Solution (Commercial, Industrial, Residential), by End-use (Agriculture, Commercial Spaces, Public Buildings, Energy & Power), and Region - Forecast to 2023
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Increasing demand for smart grids and demand response management systems from the residential sector is likely to be a major opportunity for players in the DRMS market over the forecast period. The residential sector has become a major market for smart grid technology over the last few years, as individual consumers and families have become increasingly aware to the positive environmental impact they can have through simple measures such as adopting smart grids and keeping their energy consumption in check. The financial benefits of smart grid systems have also convinced residential consumers to opt for smart grids over the last few years. This is likely to be a major demand channel for the global demand response management system market over the forecast period.
According to Market Research Future (MRFR), the Global Demand Response Management Systems Market was worth USD 21.8 billion in 2017 and is expected to rise to USD 45.6 billion by 2023 at a CAGR of 7.8% over the 2018-2023 (forecast period).
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