Pune, India, April 03, 2023 (GLOBE NEWSWIRE) -- The global distributed energy resource management system market size was valued at USD 0.49 billion in 2022. The market is projected to grow from USD 0.57 billion in 2023 to USD 1.86 billion by 2030, exhibiting a CAGR of 18.3% during the forecast period. Software program called DERMS, or Distributed Energy Resource Management Systems, control and coordinate diverse Distributed Energy Resources (DERs). These DERs use many forms of energy, including solar, wind, and battery storage. The maintenance, control, analysis, demand control, and remote management of energy resources using software and networks are all included in distributed energy resource management. Energy consumption is a result of the phenomenal progress of industrialization and urbanization worldwide.
Key Industry Development:
May 2022 - Siemens released a new software for distributed energy resources with an aim to address the increase in energy transition. The new offerings enable energy key players to implement smart technologies for their grid management and grid planning.
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Distributed Energy Resource Management System Market Scope:
| Report Coverage | Details |
| Forecast Period | 2023-2030 |
| Forecast Period 2023 to 2030 CAGR | 8.3% |
| 2030 Value Projection | USD 1.86 billion |
| Base Year | 2022 |
| Market Size in 2022 | USD 0.49 billion |
| Historical Data for | 2019-2021 |
| No. of Pages | 210 |
| Segments covered | By Software, Application, End-user, and Region |
| Growth Drivers | Smart Grid Deployments by Governments to Reduce Carbon Emission to Promote Market Growth |
| Increased Deployment of EVs to Augment Product Demand |
Market Drivers & Restraints:
Rising Demand for Rooftop Solar to Elevate Market Growth
Based on application, the market is segmented into solar, energy storage, wind, EV charging stations, and others.
The functionalities of solar energy generation are controlled and optimized through the use of DERMS. Solar applications dominate the distributed energy resource market system share due to the high penetration rate of DERMS in the solar industry and the extensive use of rooftop solar.
Additionally, DERMS is used to manage the operation and upkeep of the EV charging station as well as the production of wind energy. During the projection period, the market expanded as a consequence of expanding wind farm installations and the expansion of EV charging infrastructure across key areas. Demand response management and Combined Heat & Power (CHP) applications are included in the others segment.
COVID-19 Impact:
Global Market Plunged Due to Decreased Capital Investment in Solar and Other Technologie
The COVID-19 pandemic was spreading quickly across the world. COVID-19 had a moderate impact on the market since it slowed the market's rate of expansion. The DERMS market has been impacted by factors such as decreased capital investments in solar and other technologies, a radical shift in energy demand patterns as a result of the closure of various businesses, industries, and educational institutions, and the need for home offices during the COVID-19 crisis. Lockdown measures further worsened power demand as there was less industrial activity, which slowed down efforts to install additional DERs. However, the market for distributed energy resource management systems is being driven by a growing reliance on renewable energy.
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Distributed Energy Resource Management System Industry Regional Analysis:
Excessive Demand for Solar and Wind Renewable Energy Installations to Dominate Asia Pacific Market
The distributed energy resource management system market share is dominated by Asia Pacific. The region's need for DERMS is driven by the rapid expansion of solar and wind renewable energy installations as well as excessive energy demand. In this regard, Horizon Power's August 2022 launch of a new DERMS in Western Australia's regional microgrids, which lets consumers of rooftop solar, batteries, and electric vehicles safely connect with utility energy supplies, represents one recent advancement.
Competitive Landscape:
Major Players Focus on Developing Virtual Power Plants
Since the demand for more sustainably managing the energy supply has expanded due to the growth of the renewable energy industry, the majority of market participants are focusing on developing virtual power plants.
As a result, more businesses are now available to meet different project needs. These companies, which account for a major portion of the global competitive landscape, focus primarily on providing more recent technological innovations for distributed energy generation. For instance, in May 2022, Oracle and POWER Engineers collaborated, wherein Oracle delivered a broad range of pertinent Advanced Distribution Management System (ADMS) solutions such as Network Management System (NMS), Distributed Energy Resource Management System (DERMS), and Outage Management System (OMS) solutions.
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List of Key Players Profiled in the Report:
- Itron (U.S.)
- Oracle (U.S.)
- Energy Hub (U.S.)
- AutoGrid Systems (U.S.)
- Opus One Solutions (Canada)
- Blue Pillar (U.S.)
- Kitu Systems (U.S.)
- Enel (Italy)
- Open Access Technology International, Ltd. (U.S.)
- Sunverge Energy Inc. (U.S.)
- Hitachi ABB (Switzerland)
- Schneider Electric (France)
- Siemens (Germany)
- General Electric (U.S.)
- Engie (France)
- Generac (U.S.)
- Mitsubishi Electric Corporation (Japan)
- Doosan Heavy Industries & Construction (South Korea)
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Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions & Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends – For Major Countries
- Latest Technological Advancement
- Insight on Regulatory Landscape
- Porters Five Forces Analysis
- Impact of COVID-19 on the Distributed Energy Resource Management System Market
- Global Distributed Energy Resource Management System Market (USD Billion) Analysis, Insights, and Forecast, 2019-2030
- Key Findings
- Market Analysis, Insights and Forecast – By Software
- Virtual Power Plant
- Management & Control
- Analytics
- Market Analysis, Insights and Forecast – By Application
- Solar
- Energy Storage
- Wind
- EV Charging Station
- Others
- Market Analysis, Insights and Forecast – By End-user
- Residential
- Commercial
- Industrial & Utilities
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- North America Distributed Energy Resource Management System Market (USD Billion) Analysis, Insights, and Forecast, 2019-2030
- Key Findings
- Market Analysis, Insights and Forecast – By Software
- Virtual Power Plant
- Management & Control
- Analytics
- Market Analysis, Insights and Forecast – By Application
- Solar
- Energy Storage
- Wind
- EV Charging Station
- Others
- Market Analysis, Insights and Forecast – By End-user
- Residential
- Commercial
- Industrial & Utilities
- Market Analysis, Insights and Forecast – By Country
- U.S. Market Analysis, Insights and Forecast – By End-user
- Residential
- Commercial
- Industrial & Utilities
- Canada Market Analysis, Insights and Forecast – By End-user
- Residential
- Commercial
- Industrial & Utilities
- U.S. Market Analysis, Insights and Forecast – By End-user
- Competitive Analysis
- Company Market Share Analysis, 2022
- Company Profile
- Itron
- Business Overview
- Product & Services Offering
- Recent Developments
- Financials (Based on Availability)
- Itron
Continued…
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