Distributed Energy Resource Management Solutions Market size was valued at USD 175.50 Million in 2021 and is projected to reach USD 661.22 Million by 2030, growing at a CAGR of 20.17% from 2022 to 2030.
Management of the distribution grid integrated with DER is called Distributed Energy Resources (DER) Management. Electric utilities need new tools to manage DER to address current grid challenges. These tools consist of hardware and software that work together to manage these resources properly. A Distributed Energy Resource Management Solutions (DERMS) is a module that controls Distributed Energy Resources (DER) and existing distribution assets, including capacitor banks, voltage regulators, and tap changers.
Due to population growth, rapid urbanization, expanded infrastructure operations, and improved energy access, global electricity demand will increase rapidly over the next few years. As a result, CO2 emissions mostly come from conventional energy sources such as coal, gasoline, and natural gas. A smart grid is a power network that allows ending consumers and power providers to communicate in real-time. To manage power demand and supply, reduce costs and conserve energy, smart grids monitor, control, and analyze electrical loads. This entails the use of renewable energy sources as well as a wide range of operational and energy monitoring technologies such as smart meters and smart appliances.
Market Dynamics:
Drivers:
Global electricity demand is expected to increase significantly over the next few years due to population growth, rapid urbanization, increased infrastructure activity, and improved access to electricity. Conventional sources of energy generation, such as coal, gasoline, and natural gas, are major contributors to carbon emissions.
Restraints:
The threat of cyber-based attacks targeting the power grid is a significant concern for the energy sector. Cyber threats are a significant concern for the effective functioning of DERMS. A cyber threat is any malicious activity that compromises system effectiveness, leading to system damage, disruption, and data theft.
Key players:
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ABB
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Siemens AG
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GENERAL ELECTRIC
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Spirae, LLC
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Schneider Electric
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Advanced Microgrid Solutions
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Blue Pillar
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AutoGrid Systems, Inc.
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Opus One Solutions
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Smarter Grid Solutions
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Open Access Technology International, Inc.
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Sunverge Energy Inc
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EnerNOC, Inc.
Market Segmentation:
Distributed Energy Resource Management Solutions Market, By component,
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Software
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Analytics
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Management & Control
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Virtual Power Plant (VPP) Software
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Services
Distributed Energy Resource Management Solutions Market, By application,
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Solar PV Units
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Wind Generation Units
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Energy Storage Systems
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Combined Heat & Power Generation Systems
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EV Charging Stations
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Others
Distributed Energy Resource Management Solutions Market, By end-user,
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Industrial
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Commercial
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Residential
Distributed Energy Resource Management Solutions Market By Region,
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North America
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Asia Pacific
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Latin America
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Europe
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Middle East & Africa
Regional Analysis:
Distributed Energy Resource Management Solutions Market can be geographically segmented into five regional markets: Asia Pacific, Latin America, North America, Middle East & Africa, and Europe. North America has emerged as one of the major regional markets in the global distributed energy resource management system (DERMS) market. This trend has been reinforced by the growing demand for electricity in the regional economies of the United States and Canada and the increasing requirements to meet energy efficiency targets.
Additionally, increasing investment in setting up efficient DERMS and requirements for compliance with federal carbon policy are fueling the demand in North America's global distributed energy resource management Solutions market.
Scope of the report:
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Report Coverage |
Details |
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Page number |
220 |
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Base year |
2021 |
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Forecast period |
2022-2030 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 20.17% |
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Market growth 2022-2030 |
USD 661.22 Million |
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Market structure |
Fragmented |
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Competitive landscape |
Leading companies, competitive strategies, consumer |
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Companies profiled |
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User
Tab Content
Introduction
Our market research is an extensive, iterative process that takes into account a combination of primary and secondary research tools with the aim of minimizing deviation and producing the most precise estimate and prediction. For the future course of action, this approach meticulously outlines the actual changes and industry trends. It gives incredibly valuable data that is drawn from the insights and opinions of analysts and professionals. Our papers include in-depth research and analysis based on several factual inputs obtained from expert interviews, accurate data, and local information.
Market Size Estimation
The overall size of the market has been estimated and validated using both top-down and bottom-up methods. The sizes of other market subsegments have also been thoroughly estimated using these methodologies.
In the top-down technique, the market is divided into segments based on the percentage share of each segment. This method assisted in determining the size of each segment's market. The market size of each segment and its sub-segments was then divided into regional market sizes. This Approach helps mainly with the new Product Launch. It uses Multi-variate Regression Model coupled with Vendor based primary research inputs to forecast to the Market Size.
In the Bottom-Up approach, comprehensive study of key players has to be done wherein we add the market size of the major key players to understand the national market size which helps to determine the regional market size and eventually the complete market size. Companies annual report along with data from paid and unpaid resources like reports from government agencies and organizations like world bank provide the data for this approach.
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