Demand Response Management System Market Set For Huge Growth

The mass rollout of smart grids across Europe is expected to contribute to significant growth in the market for demand response management system (DRMS) technology.

According to a new analysis by MicroMarket Monitor, the DRMS market in Europe was worth $1.36 billion in 2014 and will expand at a compound annual growth rate (CAGR) of 36.3% over the coming years, swelling to a value of $6.38 billion by 2019.

Globally, the DRMS market is expected to increase at a CAGR of 29.8%, growing from $6.77 billion in 2014 to $25.0 billion in 2019.

The market is primarily driven by the rise of smart grids and energy price volatility, the research firm said.

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