Pune, India, Feb. 09, 2021 (GLOBE NEWSWIRE) -- The New York Independent System Operator, Inc., (NYISO) announced that three of their pilot projects for demonstrating the capabilities of Distributed Energy Resources (DERs) and options to integrate their wholesale markets were selected in July 2018. This will initiate a clear path for the integration of DERs and help to achieve goals of Reforming the Energy Vision (REV) of the United States. Such innovations are anticipated to promote the growth of the global distributed energy resources management system market in the coming years, as predicted by Fortune Business Insights in their new report.
To get to know more about the short-term and long-term impact of COVID-19 on this market,
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The study on distributed energy resources management system market is titled, “Distributed Energy Resource Management System Market Size, Share and Global By Technology (Solar PV, Wind, Energy Storage, Combined Heat & Power, Others), By Software (Analytics, Management & Control, Virtual Power Plants), By End User (Government & Municipalities, Industrial, Commercial, Residential, Military) and Geography Forecast Till 2026.” According to this report, the market is categorized on the basis of technology, software, end-user, and geography.
The report presents a comprehensive layout of the distributed energy resource management system market. It focuses on major growth trajectories including drivers and restraints, trends and opportunities prevalent in the market.
Decreasing Cost of Solar PV’s to Propel Demand for Energy Resource Systems, Boosting Market
The global distributed energy resource management system market is driven by a number of factors. Firstly, the gradual shift to distributed energy resources from centralized energy source is promoting its growth. Secondly, the decrease in the cost of energy storage and solar PVs is also estimated to drive the market.
However, various regulations laid for different energy resources may act as a hindrance to the growth of the market. Besides this, the rise in number pf cybersecurity issues related to the energy sector may also hamper the global market in the forecast duration.
Nevertheless, the surge in microgrid and smart grid deployment is expected to create lucrative growth opportunities for the market in the forecast duration.
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Increasing Adoption of Solar and Wind Energy Power Generating Systems to Help Asia Pacific Market Grow Rapidly
Geographically, North America was dominating the market in the past because of the rising demand for advanced system security and adoption of the Internet of Things (IoT) and other related services. The rise in demand for power and energy generation, coupled with government supportive regulations is anticipated to help North America continue dominating the global distributed energy resource management system market in future.
On the other side, the growth of the market in Europe is considered to be significant due to the equal distribution of energy in various sectors of the economy namely residential, commercial, agricultural and forestry department and the industrial sectors. The market in Asia Pacific is prognosticated to expand at a faster rate owing to the exponential growth rate of solar and wind energy sources. The high rate of adoption of solar and wind power systems for various purposes, especially in China and India are anticipated to help Asia Pacific grow rapidly in the foreseeable future.
The other highlights of the report include:
- Detailed individual and collective study of all the market segments;
- Thorough analysis of the factors driving and retarding market growth;
- Comprehensive assessment of the regional developments influencing the market; and
- In-depth profiling and examination of the key market players and their dominant strategies.
Some of the Key Questions Answered in this Report:
- Detailed Overview of Distributed Energy Resource Management System Market will help deliver clients and businesses making strategies.
- Influencing factors that are thriving demand and latest trends running in the market.
- Distributed Energy Resource Management System Market forecast for global market split into segments like region, product, applications, end-user, technology, etc.
- What trends, challenges and barriers will impact the development and sizing of the Global Distributed Energy Resource Management System Market?
- SWOT Analysis of each defined key player along with its profile and Porter’s five forces analysis to complement the same.
- What is the Distributed Energy Resource Management System Market growth momentum or market carries during the forecast period?
- Which region may tap the highest market share in the coming era?
- Which application/end-user category or Product Type may seek incremental growth prospects?
- What focused approach and constraints are holding the Distributed Energy Resource Management System Market demand?
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Some of the companies functioning in the global distributed energy resource management system market include:
- Yaskawa Electric Corporation
- Schneider Electric
- Enbala Power Networks, Inc.
- Siemens AG
- Doosan Gridtech, Inc.
- Fuji Electric Holdings
- Danfoss Group
- Autogrid Systems, Inc.
- General Electric
- ABB Ltd.
- Rockwell Automation
- Spirae, Inc.
- Mitsubishi Electrical Co, Ltd.
- Blue Pillar, Inc.
- Sunverge Energy, Inc
- AGL Energy
- Open Access Technology International, Inc.
- Emerson Electric Co.,
- ENGIE North America Inc.
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