ID: MRFR/E&P/5792-HCR | February 2021 | Region: Global | 111 pages
Distributed Energy Resource management market is expected to grow at 15.78% CAGR during the forecast period.
Global Distributed Energy Resource management market
Global Distributed Energy Resource management market is expected to witness a high growth during the forecast period due to increasing share of renewable power generation as well as growing government mandates and updated policies. Moreover, the modern grid is facing lot of evolutionary changes with regards to the adoption of more and more distributed energy resources. Increasing dependence on renewable energy resources is resulting into increasing complexity in the grid network. In order to minimize this complexity, electric utility operators are focusing on adopting a foolproof system which would help to manage these Many major companies around the globe are focusing on updating their offering with adding DERMS. For instance, General Electric has invested in Enbala through GE energy ventures has also been committed to offer DERMS with collaborating with DUKE Energy’s Coalition of the Willing and Nice Grid Project. All these factors are likely to drive the market for Distributed Energy Resource management.
The key players of global Distributed Energy Resource management market are ABB Ltd, Autogrid Systems, Inc., Siemens AG, General Electric, Open Access Technology International, Inc., Spirae, Inc., Schneider Electric, Enbala Power Networks, Inc., Doosan Gridtech, Inc, Blue Pillar, Inc., and Enernoc, Inc., among others.
The global distributed energy resource management market is projected to grow at a significant growth rate during the forecast period due to increasing share of renewable power generation as well as growing government mandates and updated policies. For instance, substantial amount of capital has been invested in solar, energy storage, and customer energy management by almost 42 electric utilities. By building a strong portfolio of DER companies, electric utilities are exploring the potential value of DERs and their ability to increase customer engagement.
Increasing use of distributed energy resources (DERs) such as solar PV, wind, and hydropower, among others is driving the market of distributed energy resource management. Many major players around the world are focusing on integrating DERMS for efficient use of DERs. For instance, ABB Ltd is trying to take the first movers’ advantage by offering DERMS to their clients. Similarly, Siemens which recently launched its own DERMS product with complete tools which provide data across the entire energy system. This initiative also includes partnerships with startup called Utilidata which include the adaptation of the company’s Spectrum 7 control software into local grid applications.
Global distributed energy resource management market has been segmented based on technology, software, end-user, and region. Based on technology, the market has been classified into solar PV, wind, combined heat & power, and others. Wind segment dominates the market as many offshore turbines are being installed for catering to increasing energy demand. Moreover, wind energy in Europe will witness a growth of an average of 16.5 GW per year till 2022. Every large turbine would contribute to drive this growth with 4 MW+ and 8 MW+ now becoming the new norm in onshore as well as offshore wind respectively.
Distributed energy resource management (DERMS) is the management of distribution grid which is integrated with distributed energy resources (DERs). In order to tackle the current challenges related to distribution grid, electric utilities need new set of tools to manage highly penetrated DERs. These tools are a combination of different hardware and software that are integrated together in order to manage these resources properly. DERMS is a module which manages the DERs and traditional distribution assets such as capacitor banks, voltage regulators, and tap changers. This management system increases the grid reliability and performance of the DERs by significantly reducing the voltage excursions and maintain higher network stability. Hence, DERMS manages to significantly increase network hosting capacity for DERs and achieve regulatory targets for renewable generation with minimal investment in network capacity.
|Market Size||2027: Significant Value|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Technology, Software and End-User|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||ABB Ltd, Autogrid Systems, Inc., Siemens AG, General Electric, Open Access Technology International, Inc., Spirae, Inc., Schneider Electric, Enbala Power Networks, Inc., Doosan Gridtech, Inc, Blue Pillar, Inc., and Enernoc, Inc.|
|Key Market Opportunities||
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
Global distributed energy resource management market has been segmented based on technology, software and end-user.
The main regions exhibiting high promising growth in the market are North America, Europe, Asia Pacific (APAC) and the rest of the world (RoW).
Increasing deployment of microgrid and smart grid is expected to create lucrative growth opportunities for the market in the forecast duration.
The key players of the global Distributed Energy Resource Management Market are ABB Ltd, Autogrid Systems, Inc., Siemens AG, General Electric, Open Access Technology International, Inc., Spirae, Inc., Schneider Electric, Enbala Power Networks, Inc., Doosan Gridtech Inc., Blue Pillar, Inc., and Enernoc, Inc., among others.
Based on technology, the market has been classified into solar PV, wind, combined heat & power, and others.