The Global Automated Demand Response Management Systems Market - Analysis of Growth, Trends and Forecasts (2018 - 2023) report released by Research and Markets, predicts robust growth during the period 2018 - 2023.
Market value was estimated at $39.5 million in 2016.
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.
The demand for electricity has increased exponentially in Asia-Pacific owing to increased urbanisation and industrialisation 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.
With 100% electrification rate achieved decades ago, the focus of the US Department of Energy has not been generation of electricity in recent years. Instead, power companies are emphasising 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 more accepting of automated demand response management systems. Smart pricing programmes are also increasing across the United States.
Click here for more information about this report.