Press release
Distributed Energy Resource Management System Market Set to Reach $1.2 Billion by 2029 with 17% Yearly Growth
Distributed Energy Resource Management System
The rise in the use of renewable energy sources is anticipated to stimulate the expansion of the distributed energy resource management system market in the future. Renewable energy sources, such as sunlight, wind, water, and organic matter, are naturally occurring elements used to generate energy. The use of these sources is increasing due to escalating environmental concerns, technological advancements, and the demand for energy security. The distributed energy resource management system enhances the effectiveness of these renewable energy sources by managing and balancing their production with consumption, thus improving grid stability and efficiency. For example, in February 2024, the United States set a historic record, as reported by the World Resources Institute, a non-profit organization based in the US, with the installation of 31 gigawatts (GW) of solar energy capacity. This was a significant 55% increase from 2022 and surpassed the previous record set in 2021. Consequently, the surge in the use of renewable energy sources is propelling the distributed energy resource management system market's growth.
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How will the growth rate of the distributed energy resource management system market shape industry trends by 2034?
In the past few years, there has been a rapid growth in the market size of the distributed energy resource management system. It is projected to escalate from $0.55 billion in 2024 to $0.64 billion in 2025, observing a compound annual growth rate (CAGR) of 17.3%. This notable rise during the historic period can be credited to a surge in adopting renewable energy, expanded energy demand, increased government incentives and regulations, a push for grid modernization, and heightened concerns over energy efficiency and sustainability.
The market size of the distributed energy resource management system is anticipated to witness exponential growth in the coming few years, hitting $1.2 billion by 2029 with a CAGR of 17.0%. The escalation during the forecast period could be credited to the increased use of renewable energy sources, the surge in energy efficiency requirements, augmented installation of smart grids, the proliferation of electric vehicles, the increase of supportive governmental policies, and the heightened demand for enhanced grid reliability and resilience. In the forecast timeframe, significant trends include progress in AI-driven grid optimization, integration of renewable energy sources, adoption of IoT and smart sensors, advancements in Virtual Power Plant (VPP) capabilities, strengthening of cybersecurity measures, the use of blockchain for energy transactions, and embracing cloud-based platforms for real-time energy management.
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What trends are poised to drive the future success of the distributed energy resource management system market?
Leading firms in the distributed energy resource management system market are incorporating cloud technology into their systems to enhance real-time data processing, boost scalability, and streamline energy management across scattered networks. Cloud technology provides centralised data processing, storage, and access, enabling remote observation and regulation of distributed assets. For example, in July 2023, Schneider Electric SE, a French energy management firm, collaborated with PG&E Corporation, an American energy utility company, to introduce EcoStruxure DERMS. This cloud-based software solution optimizes distributed energy assets like solar panels, electric vehicles, and battery storage. Operating on Microsoft Azure, EcoStruxure DERMS allows for real-time data gathering and assessment of distributed energy resources, giving grid operators enhanced visibility and control of energy resources.
Which primary segments of the distributed energy resource management system market are driving growth and industry transformations?
The distributed energy resource management system market covered in this report is segmented -
1) By Component: Virtual Power Plant (VPP); Management And Control; Analytics; Software Services
2) By Technology: Wind Distributed Energy Resources; Photovoltaic (PV) Distributed Energy Resources
3) By End-User: Residential; Commercial; Industrial And Utilities
Subsegments:
1) By Virtual Power Plant (VPP): Grid Aggregation VPP; Renewable Energy Integration VPP; Battery Storage-based VPP; Demand Response-based VPP; Microgrid-based VPP; Hybrid VPP (combining multiple energy sources)
2) By Management and Control: Energy Dispatch Control; Load Balancing and Optimization; Demand-Side Management (DSM) Systems; Real-time Monitoring and Control; Frequency and Voltage Regulation
3) By Analytics: Predictive Analytics for Energy Generation; Demand Forecasting Analytics; Performance Optimization Analytics; Asset Management Analytics; Real-time Data Analytics
4) By Software Services: Cloud-based DERMS Solutions; On-premise DERMS Software; Energy Trading and Market Participation Software; Integration and Interoperability Software; Energy Efficiency Management Software
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Which geographical regions are pioneering growth in the distributed energy resource management system market?
North America was the largest region in the distributed energy resource management system market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the distributed energy resource management system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the influential players reshaping the distributed energy resource management system market landscape?
Major companies operating in the distributed energy resource management system market are Engie SA, Hitachi Ltd., Tesla Inc., Siemens AG, General Electric Company, Oracle Corporation, Schneider Electric SE, Mitsubishi Electric Corporation, Honeywell International Inc., ABB Ltd., LONGi Group, Emerson Electric Co., Doosan Group, Goldwind Science & Technology Co. Ltd., Energy Hub Inc., Generac Holdings Inc., Itron Inc., Enel X, Open Access Technology International Inc., Spirae LLC, Uplight Inc., GreenSmith Energy Management Systems Inc., AutoGrid Systems Inc., Smarter Grid Solutions, Envision Group
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What Is Covered In The Distributed Energy Resource Management System Global Market Report?
•Market Size Forecast: Examine the distributed energy resource management system market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the distributed energy resource management system market for a structured understanding.
•Key Players Overview: Analyze major players in the distributed energy resource management system market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the distributed energy resource management system market.
•Segment Contributions: Evaluate how different segments drive overall growth in the distributed energy resource management system market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the distributed energy resource management system market.
•Industry Challenges: Identify potential risks and obstacles affecting the distributed energy resource management system market.
•Competitive Landscape: Review strategic developments in the distributed energy resource management system market, including expansions, agreements, and new product launches.
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