Middle-East and Africa Demand Response Management Systems Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
The Middle-East and Africa demand response management systems market is expected to register a CAGR greater than 9.5%. A demand response system (also known as a load response or DRS) is for end-use customers for reducing their use of electricity in response to power grid needs, economic signals from a competitive wholesale market, or special retail rates. Most of the demand response action today is in the commercial and industrial sectors. Moreover, technology giants of the region are leading the market space, with smaller companies supporting them with constant innovations and smarter software products. This scenario acts as a driver for the adoption of demand response management systems for utilities and customers. However, privacy concerns regarding the threat to consumers' data through hacking are expected to hinder the growth of the market studied.
Key HighlightsThe Middle-East and Africa demand response management systems market is moderately fragmented due to many companies operating in the industry. The key players in this market include Schneider Electric Inc., Siemens, Hitachi Ltd, Mitsubishi Electric Corporation, GE Energy, and ABB (Ventyx).
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