Distributed Energy Resource Management System Market Overview:
Distributed Energy Resource Management System Market to grow at 15.46% CAGR during forecast period 2022-2030.
Distributed energy resource (DER) management involves the management of the distribution grid, which is integrated with DERs. In order to tackle the current challenges related to the distribution grid, electric utilities require new sets of tools to manage highly adopted DERs. Such tools feature a combination of different hardware and software that are integrated to manage these resources properly.
There has been a rise in the demand for distributed energy resource management systems (DERMS)in North America and Europe.North America is a prominent market for DERMS, owing to an increase in the share of renewable energy sources and rising initiatives by government bodies to promote the installation of DERMS. Policies and incentives such as USDA - Rural Energy for America Program (REAP) Grants, Residential Renewable Energy Tax Credit, and corporate tax incentives are some of the initiatives taken by the governing authorities in the US to promote the installation of DERMS in the country.
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The global market for distributed energy resource management systems is segmented based on technology, software, end use, and region.
- By technology, theglobal market has been segmented assolar PV, energy storage, wind, combined heat power, and others.The wind segment is expected to hold the largest share during the forecast period. Wind energy is generated from wind by rotating turbines, which generate energy. The technology has evolved steadily in the last decade and has been adopted in numerous countries to generate electricity. Further, offshore wind energy generation has also increased steadily in the last decade and is expected to witness substantial growth during the forecast period due to the rising demand for renewable energy.
- By software, the global market has been segmented as analytics, virtual power plants, and management control. The analytics segment is expected to hold the largest share during the forecast period.The analytics segment includes various software used to analyze various aspects of electricity generation and consumption. The software assists utilities in analyzing consumption data, through which energy generation and energy storage plans can be made for the future. DERMS analytics software allows utilities to forecast the future demand based on current scenarios.
- By end use, the global market has been segmented into industrial, government municipalities, commercial, residential, and military. The industrial segment is expected to hold the largest share during the forecast period. Industries use large amounts of energy for various processes and are further using various energy sources to reduce their dependence on the grids. Industries are adopting the use of solar and combined heat power technologies to increase their energy efficiencies.
- By region, the market is segmented into Europe, Asia-Pacific, North America, and the rest of the world. North America dominates the distributed energy resource management system market.The region is a prominent market for DERMS, owing to an increase in the share of renewable energy sources and rising initiatives by government bodies to promote the installation of DERMS. The demand for renewable energy resources is anticipated to witness positive and notable growth is also expected for in 2021, there by boosting the demand for DERMS. Such factors are likely to boost the growth of the distributed energy resource management systems market in North America during the forecast period.
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The important players operating in the global distributed energy resource management system market are ABB (Switzerland), Siemens (Germany), General Electric (US), Schneider Electric (France), Doosan Corporation (South Korea), Enbala, A Generac Company (Canada), Autogrid Systems, Inc. (US), Spirae, LLC (US), and Enel X North America, Inc. (US).
This research report provides insights into various levels of analysis, such as industry analysis and market share analysis for the leading industry competitors, along with their profiles. It also helps in studying the target segments by providing views on the emerging and high-growth segments. The market data comprises the necessary assessment of the competitive scenarios and strategies in the global distributed energy resource management system market, including high-growth regions and/or countries and political and economic environments. The project report further provides both historical market values and pricing cost analysis.