Distributed Energy Resource Management Market 2020 Global Industry Analysis by Technology, Software, End-User, Size, Share, COVID-19 Impact, Trends and Forecast 2023

Distributed Energy Resource Management Market Overview

The Distributed Energy Resource Management Market (DERMS) is still a nascent market and is likely to proliferate in the coming years. The global Distributed Energy Resource Management Market is anticipated to expand at a CAGR of 16.50% over the forecast period of 2016-2023, asserts Market Research Future (MRFR) in a minutely analyzed study. A substantial increase in the energy regulations coupled with advances in technology have driven a noteworthy upsurge in the volume of distributed energy resources (DERs) on a global scale.

Distributed energy resource management system eliminates the limitations by centralized power systems. The rising price for electricity is triggering the need for effective and affordable solutions, due to which distributed energy resource management solution is gaining popularity. Shifting focus towards energy generation by green technology and growing awareness about carbon footprint are factor that are also expected to cast a positive impact on the market growth.

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Global Distributed Energy Resource Management Market Highlights

The penetration of distributed energy resources (DERs) such as rooftop solar PV units, natural gas turbines, microturbines, wind turbines, biomass generators, fuel cells, tri-generation units, battery storage, electric vehicles (EV) and EV chargers, and others are growing at a torrid pace. DERs are associated with the operational challenges such as system reliability, power quality, and power availability which drive up DERMS implementation to address the core challenges posed by DERs. Moreover, the shift from the use of traditional energy sources to cleaner and greener energy resources along with an elevated level of environmental awareness have spurred the demand for DERMS.

The transition to electric vehicles from fuel-based vehicles have created a conducive environment for the growth of the DERMS market. The governments in various countries are also launching energy initiatives to promote sustainable use of energy resource which is supporting the growth of the DERMS market. For instance, Canada's Energy Innovation Program (EIP) is the government's approach to make a low-carbon economy. Schneider Electric has collaborated with Ontario-based Alectra Utilities to provide Distributed Energy Resource Management System for EV-friendly grid.

Segmentation

The global distributed energy resource management market has been segmented based on technology, software, and end-user.

By technology, the distributed energy resource management market has been segmented into solar PV, wind, combined heat & power, and others.

By software, the distributed energy resource management market has been segmented into analytics, management & control, and virtual power plant.

By end user, the distributed energy resource management market has been segmented into industrial, government & municipalities, commercial, residential, and military.

Regional Outlook

By region, the distributed energy resource management market has been studied in Europe, North America, Asia-Pacific, and the Rest of the World (RoW).

The market in North America is expected to secure the prime position in the global distribution energy resource management market. The United States is expected to hold the giant share of the regional market over the review period. By 2023, the increasing activities concerning mall-scale combined heat, the distributed solar, sand power systems, energy storage, and electric vehicles are expected to cast a positive impact on the United States market.

In addition, the rising electric utilities of consumers on the DER front, triggered the setting up of DER plants in the region, which is expected to propel the regional market growth. In Europe, the distributed energy resource management market is expected to gain global foothold due to increase in number of wind turbines that are installed to meet energy demands.

The APAC distributed energy resource management market is spurred by a growing focus on energy consumption to cater to the mounting energy requirements of both the industrial as well as residential sector. Moreover, the governments in the region are advocating the use of DERMS to ensure uninterrupted power supply and ensure cost saving.

The Europe DERMS market will be driven by the European Union's renewable energy target which it intends to achieve by 2020.

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This release was published on openPR.