Demand Response Management System Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
The demand response management system market is expected to register a CAGR of more than 6.8% during the forecast period, 2022-2027. The COVID-19 pandemic temporarily disrupted the market in the form of difficulties in equipment sourcing and installation. Furthermore, the pandemic caused disruption in the operation of commercial and industrial facilities, which in turn served as a blow to the demand response management system market. In terms of growth of the market, factors such as enhanced cybersecurity, integration of sources of power generation, and scope of financial incentives are expected to act as drivers of the market. However, concerns such as hacking or extraction of data related to the end-user industries may restrain the market growth during the forecast period.
Key HighlightsThe demand response management market is moderately consolidated. Some of the key players in this market include ABB Ltd, Schneider Electric SE, Siemens AG, General Electric Company, and Enel SpA.
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