Jersey City, New Jersey, Oct. 13, 2021 (GLOBE NEWSWIRE) -- Verified Market Research recently published a report, “Distributed Energy Resource Management System Market” By Software (Management & Control, Virtual Power Plants, and Analytics), By Technology (Energy Storage, Combined Heat & Power, Solar PV, Wind, Others), By End User (Commercial, Residential, Military, Government & Municipalities, and Industrial), and By Geography. According to Verified Market Research, the 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.
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Browse in-depth TOC on “Distributed Energy Resource Management System Market”
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126 – Tables
37 – Figures
Global Distributed Energy Resource Management System Market Overview
Renewable energy generation has been growing rapidly due to the mounting energy demand. In the U.S. the market is driving due to the increased renewable energy generation. The growing awareness for clean energy or green energy and renewables, such as solar, biomass, and wind & tide energy, propels the market demand. The global electricity demand is estimated to grow at a significant rate during the next few years owing to the ever-increasing population, rapid urbanization and industrialization, growing infrastructure activities, and enhanced access to electricity. Moreover, conventional energy generation sources, such as fossil fuels, coal, and natural gas, substantially contribute to carbon emission. Fossil fuels are increasingly being replaced by renewable sources, such as wind energy and solar energy.
The government initiatives to promote the installation of DERMS augment the growth of the globally distributed energy resource management system market. For instance, the US government has taken up a number of initiatives including policies and incentives, such as USDA- Rural Energy for America Program (REAP) Grants, Residential Renewable Energy Tax Credit, and corporate tax incentives, which bolsters the market growth, promoting the installation of DERMS in the country. Moreover, China and Japan account for considerable shares in the regional market owing to the favorable government policies supporting the Foreign Direct Investments (FDI). There are also technical challenges facing the installation of DERMS by utilities and grid operators. For instance, to unlock all the benefits of DERMS, a fairly accurate representation of the distribution system is needed, including how and where loads and DERs are connected.
Key Developments in Distributed Energy Resource Management System Market
- ABB offers innovative integrated energy and asset management as Software-as-a-Service
- The new SaaS ABB Ability Energy and Asset Manager provide application-specific asset and energy management. Users can view and analyze data on facility performance and manage assets to optimize energy consumption in real-time and improve overall site efficiency.
- GE announced its partnership with BlackRock Real Assets. With this partnership, GE and BlackRock launched distributed solar and storage business.
The major players in the market are Autogrid Systems, Inc., General Electric, ABB Ltd, Siemens AG, Schneider Electric, Spirae, Inc., Enbala Power Networks, INC., Enernoc, Inc., Open Access Technology International, Inc., Doosan Gridtech, Inc. (Doosan Heavy Industries & Construction), and Blue Pillar, Inc.
Verified Market Research has segmented the Global Distributed Energy Resource Management System Market On the basis of Software, Technology, End User, and Geography.
- Distributed Energy Resource Management System Market, By Software
- Management & Control
- Virtual Power Plants
- Analytics
- Distributed Energy Resource Management System Market, By Technology
- Energy Storage
- Combined Heat & Power
- Solar PV
- Wind
- Others
- Distributed Energy Resource Management System Market, By End User
- Commercial
- Residential
- Military
- Government & Municipalities
- Industrial
- Distributed Energy Resource Management System Market by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
- North America
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