Distributed Energy Resource Management System Market is Expected to Grow at a 15.48% CAGR
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 - 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.
Browse over XX market data Figures spread through XX Pages and an
in-depth TOC on the "Global Distributed Energy Resource Management System Market."
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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