Pune, Feb. 21, 2022 (GLOBE NEWSWIRE) -- The Distributed Energy Resource Management System Market size was USD 0.36 billion in 2020. The market is projected to grow from USD 0.42 billion in 2021 to USD 1.33 billion in 2028 at a CAGR of 18.0%during the 2021-2028 period. This vital information is presented by Fortune Business Insights™, in its report, titled, “Distributed Energy Resource Management System Market, 2021-2028.” Factor such as growing energy demand to support current population growth along with increasing development pace will boost market growth during the forecast period. Additionally, rising smart grid deployment by government bodies and rising deployment of EVswill increase the market footprint.
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Prominent Players Present in the Distributed Energy Resource Management System Market are:
- Hitachi ABB (Switzerland)
- Siemens (Germany)
- General Electric (U.S.)
- Engie (France)
- Itron (U.S.)
- Oracle (U.S.)
- Generac (U.S.)
- Energy Hub (U.S.)
- Mitsubishi Electric Corporation (Japan)
- AutoGrid Systems (U.S.)
- Opus One Solutions (U.S.)
- Doosan Heavy Industries & Construction (South Korea)
- Blue Pillar (U.S.)
- Kitu System (U.S.)
- Enel (Italy)
- Open Access Technology International, Ltd. (U.S.)
- Sunverge Energy Inc. (U.S.)
COVID-19 Impact
Production Delays & Lockdowns to Hamper Market Growth
The COVID-19 pandemic has had a drastic effect on every sector worldwide and the sector of distributed energy resource management systems is no different. Severally imposed lockdowns and restrictions on the movement of the general population decreased industrial and commercial output to a new low. As the market is entirely dependent on energy, decreased energy requirements impacted investments opportunities, thereby, limiting the growth of the market.
To get to know more about the short-term and long-term impact of COVID-19 on this market,
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Segments
On the basis of software, the market can be divided into virtual power plants (VPP), management and control, and analytics.
By application, the market can be broken down into solar, energy storage, wind, EV charging stations, and others.
With respect to end-user, the market can be classified into residential, commercial, industrial & utilities.
In terms of geography, the market can be categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Report Scope and Segmentation-
| Report Coverage | Details |
| Forecast Period | 2021 to 2028 |
| Forecast Period 2021 to 2028 CAGR | 18.0% |
| 2028 Value Projection | USD 1.33 Billion |
| Base Year | 2020 |
| Market Size in 2020 | USD 0.36 Billion |
| Historical Data for | 2017 to 2019 |
| No. of Pages | 210 |
| Segments covered | By Software, By Application, By End-User, By Region |
| Growth Drivers | Increasing Demand Response Requirement to Drive Market |
| Increasing Demand for Renewable Energy to Drive Distributed Energy Resource Management System Demand | |
| Pitfalls & Challenges | Cyber Security Risks Associated with IoT to Limit the Technology Adoption |
Report Coverage
The sector of distributed energy resource management system is broken down into a regional and country-level analysis for our readers to get a better grasp on the market. Additionally, the report also provides insights into the market by encompassing the ongoing market trends along with the latest industry developments. The report also covers the factors that are expected to affect the market in a positive/negative manner simultaneously.
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Drivers & Restraints
Rising Demand for Renewable Energy to Bolster Market Growth
Factors such as increasing demand for renewable energy have been triggered by external factors such as increasing population and increasing production activities. Additionally, increased digitalization and rising consumerism will boost the distributed energy resource management system market growth during the forecast period. Rising consumer awareness and increasing government activities in the hydro, solar, wind and tidal sector will increase the market footprint.
However, rising cyber security risks associated with IoT will limit the market growth during the forecast period.
Regional Insights
Asia Pacific to Hold Largest Market Share due to Rising Power Generation Demand
The region of Asia Pacific will capture the largest distributed energy resource management system market share during the forecast period due to rising investment in renewable energy projects by government bodies and increasing power generation activities.
North America will hold a considerable market share in terms of global contribution owing to rising government investments in renewable projects along with various countries promising net zero emissions by 2050.
Europe will witness significant growth during the forecast period owing to increasing investment in the renewable sector along with rising reliance on renewable energy sources to name a few.
Competitive Landscape
Prominent Players to Launch Novel Players to Dominate Market Share
The market for distributed energy resource management systems compromises various prominent players that provide varying levels of services. Prominent players are developing novel products for capturing a wider consumer base. For example, in December 2020, EnergyHub partnered with EnelX for optimal distributed energy resource management towering 60,000 charging stations across the United States. Increasing usage of renewable energy resources is expected to push the developmental pace of the sector to a new horizon.Like-minded players are joining hands for accelerating product development and increasing market presence.
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Industry Development
- August 2021: Mitsubishi Electric Corporation announced that they planned to acquire Smarter Grid Solutions for expanding the latter’s distributed energy resources customer for effective energy management enterprise software.
Table of Content
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends – For Major Countries
- Latest Technological Advancement
- Regulatory Landscape
- Porters Five Forces Analysis
- Qualitative Analysis – Impact of COVID-19
- Impact of COVID-19 on the Distributed Energy Resource Management SystemMarket
- Steps Taken by the Government to Overcome the Impact
- Key Developments by Industry Players in Response to COVID-19
- Potential Opportunities and Challenges due to COVID-19 Outbreak
- Global Distributed Energy Resource Management SystemMarket Analysis (USD Billion), Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Software
- Virtual Power Plant (VPP)
- Management & Control
- Analytics
- Market Analysis, Insights and Forecast – By Application
- Solar
- Energy Storage
- Wind
- EV Charging Stations
- Others
- Market Analysis, Insights and Forecast – By End-User
- Residential
- Commercial
- Industrial & Utilities
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- North America Distributed Energy Resource Management SystemMarket Analysis (USD Billion), Insights and Forecast, 2017-2028
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