Distributed Energy Resource Management System Market, by Technology (Solar Photovoltaic (PV), Electric Vehicles, Microgrids, and Others), End-User (Industrial, Residential, and Commercial), and region (North America, Europe, Asia-Pacific, Middle East and Africa and South America)
Distributed Energy Resource Management System Market Overview
Global Distributed Energy Resource Management System Market size was valued at USD 167.29 Million in 2020 and is projected to reach USD 605.55 Million by 2028, growing at a CAGR of 18.40% from 2021 to 2028.
DERMS is known as a state-of-the-art system that seamlessly integrates high penetrations of solar energy and different distributed energy resources into the grid. When they are properly deployed, their capabilities give multiple benefits to businesses and their customers. It consists of a suite of software management tools that enable distribution services and wire operators to handle an array of DERs & thereby contribute to a near real-time control of grid assets
As per distributed energy resource management system market analysis, increasing need for efficient energy management systems which help in maintaining grid reliability and flexibility of the distributed energy source are some of the factors that have supported long-term expansion for Distributed Energy Resource Management System Market. The market for distributed energy resource management systems is being driven by rising government initiatives for residential buildings and rising power consumption.
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Also, global industrialization and urbanisation have resulted in an increase in energy demand. The increasing energy demand to support the world's current way of life has resulted in massive investments in renewable energy generation. IRENA has mentioned that investment in new renewable power has increased from less than USD 50 billion per year in 2004 to around USD 300 billion per year in recent years, outpacing investments in new fossil fuel power by a factor of three in 2018. According to the World Economic Forum, $14.5 billion was invested in renewable energy, a 125 percent increase over the fiscal year 2020-21 and a 72 percent increase over the pre-pandemic period of the 2019-20 fiscal year.
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The COVID-19 pandemic, though electricity use in residential buildings has increased. However, governments across the world were compelled to reduce the business activities in response to minimize the threat of coronavirus. Owing the decline in the business activities has further negatively impacted distributed energy resource management system solutions in the short term.
Distributed Energy Resource Management System Market Regional Analysis
North America is expected to the largest market during the forecast period, owing to supportive government policies for the distributed power generation technology and increasing share of renewables in the energy mix, in turn driving the demand for DERMS in the region.
The renewable energy industry in Europe is critical to the region's economic development. European countries have made significant investments in green and clean energy. There are numerous offshore wind farms and solar farms in the region. Among the countries that have invested in solar and wind energy capacity are Germany, France, Italy, Spain, the United Kingdom, and the Netherlands. Europe has 162,429 MW of solar PV and 183,675 MW of wind power, according to the International Renewable Energy Agency (IRENA). The demand for distributed energy resource management system in Europe is being driven by the government's ongoing efforts to achieve clean energy goals.
Distributed Energy Resource Management System Market Competitive Landscape
Key Players
• ABB Ltd.
• Engie SA
• General Electric Company
• AutoGrid Systems Inc.
• Siemens AG.
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Distributed Energy Resource Management System Market Recent Developments
• In August 2021, Mitsubishi Electric Corporation and its subsidiary Mitsubishi Electric Power Products, Inc. acquired Smarter Grid Solutions (SGS), a global provider of distributed energy resources management software (DERMS) for power distribution utilities and DER operators. With this acquisition, Mitsubishi Electric Corporation will expand the reach of its energy management enterprise software to DER customers worldwide. The SGS solutions align with the Mitsubishi Electric Environmental Sustainability Vision to realize a decarbonized society by 2050 through reduced greenhouse gas emissions.
• In October 2020, Siemens and Macquarie’s Green Investment Group entered into a distributed energy venture, namely, Calibrant Energy. The joint venture offers onsite Energy-as-a-Service (EaaS) solutions for its customers, including corporate and industrial clients, municipalities, universities, schools, and hospitals.
Reasons to Acquire in the Distributed Energy Resource Management System Market
• Increase your understanding of the market for identifying the best and suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends and factors
• Gain authentic and granular data access for Distributed Energy Resource Management System Market so as to understand the trends and the factors involved behind changing market situations
• Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future
• In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns
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