New York, June 20, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Distributed Energy Resource Management System Market Size, Share & Industry Trends Analysis Report By Offering, By End User, By Application, By Regional Outlook and Forecast, 2023 - 2029" - https://www.reportlinker.com/p06469110/?utm_source=GNW
This software and tools also help planners identify different factors, which increases productivity and makes use of visual datasets. Therefore, it is expected to generate more than 35% share of the software segment by 2029. In addition, DERMS software contributes to grid resilience by enabling islanding and microgrid capabilities. In a grid outage or emergency, DERMS can autonomously isolate and operate a section of the grid using local DERs, ensuring continuity of power supply to critical loads. Some of the factors impacting the market are globally increasing demand for electric vehicles (EV), rising governmental efforts to deploy the smart grid, and increased initial installation fee for distributed energy resource management systems.
As more individuals have become concerned about the potentially catastrophic implications of climate change, a significant demand for EVs has grown. This is further impacted by the dreadful pollution levels observed in the world’s largest cities, which are still increasing. In the ensuing years, the market would expand as a result. The connection between demand from consumers and the accessibility of renewable energy can be optimized with the use of smart grids. By ensuring that power is saved when it is accessible and affordable and released when demand increases, they may also use the possibility of energy storage.
However, deploying a distributed energy resource management system initially requires a significant outlay of funds. Changing infrastructures requires the involvement of both local and federal administrations. Therefore, all these factors may hamper the deployment of DERMS for many end users, which will slow down the market’s growth.
Offering Outlook
Based on offering, the distributed energy resource management system market is segmented into software and services. The services segment garnered the highest revenue share in the distributed energy resource management system market in 2022. DERMS services offer a range of benefits, including improved grid reliability, enhanced integration of renewable energy, increased energy efficiency, demand response capabilities, and real-time monitoring and control. By leveraging these advantages, DERMS supports the developing of a more resilient, flexible, and sustainable energy infrastructure.
Software Type Outlook
By software type, the distributed energy resource management system market is fragmented into analytics, management & control, and virtual power plant (VPP) software. The virtual power plant (VPP) software segment acquired the largest revenue share in the distributed energy resource management system market in 2022. The growth of the segment is owed to the widespread use of this software. A VPP has a wide range of characteristics, including features like utilizing cloud-based real-time operational management to cluster the capacities of various DERs to increase efficiency and trading power, making it a desirable alternative for end users.
Application Outlook
On the basis of application, the distributed energy resource management system market is divided into solar PV units, wind generation units, energy storage systems, combined heat & power generation systems, EV charging systems, and others. The solar PV units segment witnessed the maximum revenue share in the distributed energy resource management system market in 2022. In order to regulate and enhance the capabilities of solar energy generation, DERMS are used. The widespread adoption of DERMS in the solar sector and the extensive use of rooftop solar panels have contributed to the importance of solar applications in the market. In addition, DERMS facilitates the integration of energy storage systems with solar PV units.
End User Outlook
By end user, the distributed energy resource management system market is categorized into industrial, commercial and residential. The commercial segment recorded a substantial revenue share in the distributed energy resource management system market in 2022. Distributed generation in commercial buildings refers to energy production that takes place on-site and off-grid. This often consists of power produced by renewable energy systems, including small wind turbines and solar photovoltaics (PV). Commercial buildings consume more energy than residences and are subject to price structures that penalize them during peak consumption hours.
Regional Outlook
Region wise, the distributed energy resource management system market is analysed across North America, Europe, Asia Pacific and LAMEA. The Asia Pacific segment witnessed the largest revenue share in the distributed energy resource management system market in 2022. This is a result of escalating environmental concerns, government programs to promote solar panel installation, as well as tax benefits, along with technological developments that reduce production costs and increase solar panel manufacturing efficiency. To hasten the development of new energy sources and meet its carbon reduction goals, China is expanding distributed solar power capacity.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Siemens AG, Schneider Electric SE, General Electric Company, Hitachi, Ltd. (Hitachi Energy Ltd.), Emerson Electric Co., Mitsubishi Electric Corporation, Oracle Corporation, Itron, Inc., Generac Holdings, Inc. and Enel S.p.A.
Scope of the Study
Market Segments covered in the Report:
By Offering
• Services
• Software
o Virtual Power Plant (VPP) Software
o Management & Control
o Analytics
By End User
• Industrial
• Commercial
• Residential
By Application
• Solar PV Units
• Energy Storage Systems
• Wind Generation Units
• Combined Heat & Power Generation Systems
• EV Charging Stations
• Others
By Geography
• North America
o US
o Canada
o Mexico
o Rest of North America
• Europe
o Germany
o UK
o France
o Russia
o Spain
o Italy
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o South Korea
o Singapore
o Malaysia
o Rest of Asia Pacific
• LAMEA
o Brazil
o Argentina
o UAE
o Saudi Arabia
o South Africa
o Nigeria
o Rest of LAMEA
Companies Profiled
• Siemens AG
• Schneider Electric SE
• General Electric Company
• Hitachi, Ltd. (Hitachi Energy Ltd.)
• Emerson Electric Co.
• Mitsubishi Electric Corporation
• Oracle Corporation
• Itron, Inc.
• Generac Holdings, Inc.
• Enel S.p.A
Unique Offerings
• Exhaustive coverage
• Highest number of market tables and figures
• Subscription based model available
• Guaranteed best price
• Assured post sales research support with 10% customization free
Read the full report: https://www.reportlinker.com/p06469110/?utm_source=GNW
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