Global Distributed Energy Resource Management System market is expected to grow, owing to the growing focus on energy efficiency and the increasing demand for renewable energy throughout the forecast period.
According to TechSci Research report, “Distributed Energy Resource Management System Market – Global Industry Size, Share, Trends, Opportunity, and Forecast 2018-2028F”, the global distributed energy resource management system market is expected to register 15.48% CAGR during the forecast period, owing to rising government initiatives for residential buildings, power consumption, and the demand for effective energy management systems that maintain grid dependability and flexibility of the distributed energy source, along with the growing penetration of renewable energy sources.
Recent developments in DERMS include an increase in the use of sophisticated analytics, a rise in cloud use, appearance of blockchain-based solutions, and a sharper focus on cybersecurity. Advanced analytics are being used more frequently by energy suppliers to improve the efficiency of their distributed energy supplies. For instance, machine learning algorithms can be used to forecast patterns of energy consumption and modify the distribution of energy resources accordingly.
Energy providers may now manage their distributed energy supplies more effectively and economically, thanks to cloud computing. Cloud-based solutions can automate repetitive activities, provide remote monitoring, control of dispersed energy resources, and provide real-time visibility into energy usage.
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Global Distributed Energy Resource Management System Market is segmented based on software, application, end-user, and region. Based on software, the market is divided into virtual power plant, management & control, and analytics. Based on application, the market is divided into solar PV, energy storage, wind, EV charging stations, and others. Based on end-user, the market is fragmented into residential, commercial, and industrial. Based on region, the market is further bifurcated into North America, Asia-Pacific, Europe, South America, Middle East & Africa.
Based on application, Solar PV segment is expected to dominate the market during 2022. Solar PV is one of the biggest distributed power sources in the world and can be put on rooftops or the ground. The average installed cost (USD/Kilowatt) is likely to decline, and an increase in installed capacity is anticipated to drive the distributed energy resources management system market. To avoid reverse flows and high local voltages, distributed energy resource management systems limit photovoltaic (PV) output in real-time.
Additionally, distributed generation is economically feasible because it requires significantly less capital investment than a comparable traditional facility. Distributed solar PV is being driven internationally by tax incentives for both solar power plants and distributed solar generation. The installed solar PV capacity worldwide in 2020 was 707.49 GW.
Moreover, India has revealed plans to spend an additional USD 2356.70 million to increase domestic production of solar modules in order to achieve its ambitious goal of producing 280 GW of solar-fired electricity by 2030. Solar PV investments increased dramatically in the US due to business purchases. Such factors are expected to drive the Solar PV segment during 2022, as well as during the forecast period.
Key market players in the global distributed energy resource management system market are:
- General Electric Company
- Siemens AG
- ABB Ltd
- Schneider Electric SE
- Engie SA
- AutoGrid Systems Inc.
- Doosan Corporation
- Open Access Technology International Inc.
- Mitsubishi Electric Corporation
- Emerson Electric Co.
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“Expenditures in distributed energy resource management systems are expected to increase in response to the challenges faced by North America’s power sector, including difficulties in meeting energy efficiency targets, adhering to federal carbon regulations, and effectively integrating diverse sources of distributed energy generation. This rise in spending is anticipated to increase as the region aims to become the dominant player in electricity demand.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Distributed Energy Resource Management System Market – Global Industry Size, Share, Trends, Opportunity, and Forecast. 2018-2028F Segmented By Software (Virtual Power Plant, Management & Control, and Analytics), By Application (Solar PV, Energy Storage, Wind, EV Charging Stations, and Others), By End-User (Residential, Commercial, and Industrial), By Region,” has evaluated the future growth potential of Global Distributed Energy Resource Management System market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Distributed Energy Resource Management System market.
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