Distributed Energy Resource Management Market Projected to Reach USD 2.03 Billion, at a 16.48% CAGR by 2030 – Report by Market Research Future (MRFR)
Distributed Energy Resource Management Market Growth Boost by Growing Technology Advancements and Increase Share of Renewable Power Generation
New York, US, May 29, 2023 (GLOBE NEWSWIRE) — According to a Comprehensive Research Report by Market Research Future (MRFR), “Distributed Energy Resource Management Market Information by Technology, End-User, Software, and Region – Forecast till 2030”, Distributed Energy Resource Management Market could thrive at a rate of 16.48% between 2022 and 2030. The market size will be reaching around USD 2.03 Billion by the end of the year 2030
Distributed Energy Resource Management Market Overview
Distributed Energy Resource Management (DERM) is a system that enables the efficient integration and management of various distributed energy resources, such as solar panels, wind turbines, batteries, and electric vehicles. The DERM system helps to optimize the distribution and consumption of energy, reduce greenhouse gas emissions, and increase energy efficiency.
The global DERM market is growing rapidly due to the increasing adoption of renewable energy sources, such as solar and wind power, and the need for efficient management and distribution of energy. The market is also driven by government policies and initiatives that promote the use of renewable energy and energy efficiency.
Market Competitive Landscape:
The affluent companies in the Distributed Energy Resource Management industry include
- General Electric
- Energy Hub
- Mitsubishi Electric Corporation
- AutoGrid Systems
- Among others.
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Distributed Energy Resource Management Market Updates
Hitachi Energy launched its updated PowerStore battery energy storage system (BESS) products in November 2021, the first update to the distributed energy solutions portfolio since Hitachi ABB Power Grids converted to Hitachi Energy. This product is designed to improve energy storage and management for various applications
Itron Inc. deployed a grid-interactive water heater program for Fort Collins Utilities in Colorado. This program enables distributed energy resource management for combined heat and power (CHP) applications, helping to optimize energy usage and improve efficiency.
|Market Size 2030||2032: USD 2.03 billion|
|CAGR during 2022-2030||16.48% CAGR|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Technology, Software, end-user, and Region|
|Key Market Opportunities||Increase share of renewable power generation|
|Key Market Dynamics||Shift from centralized to distributed power generation|
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Distributed Energy Resource Management Market USP Covered:
One of the drivers for the DERM market is the increasing demand for renewable energy sources, which has led to a rise in the installation of solar panels and wind turbines. As more distributed energy resources are installed, there is a growing need for energy management systems that can effectively manage and control the distribution of this energy.
One of the major restraints for the DERM market is the lack of standardization and interoperability between different energy management systems. This can lead to compatibility issues and make it difficult to integrate different distributed energy resources into a single energy management system. As a result, there is a need for greater standardization and compatibility in the DERM market to ensure that these systems can effectively manage and control distributed energy resources
Distributed Energy Resource Management Market COVID 19 Analysis
The COVID-19 pandemic has affected the Distributed Energy Resource Management (DERM) market in several ways. On the positive side, the pandemic has increased the demand for reliable and resilient power supply systems, as more people are working from home and relying on digital services. This has created opportunities for DERM technologies, which can help utilities and grid operators manage the increasing complexity of the power grid and integrate more renewable energy sources.
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On the negative side, the pandemic has also caused supply chain disruptions and delays in project installations, which have affected the growth of the DERM market. In addition, the economic uncertainty caused by the pandemic has led to budget cuts and reduced investments in new energy projects, which could slow down the deployment of DERM technologies.
Distributed Energy Resource Management Market Segmentation
The technology in the market includes Solar PV, Energy Storage, Wind, and CHP.
By End-user the segment includes Government & Municipalities, Industrial, Commercial
By software, the segment includes Analytics, Management & Control, and VPP.
Distributed Energy Resource Management Market Regional Insights
North America is a significant market for DERM due to the high adoption of renewable energy sources and the presence of several key players in the region. The US and Canada are the two largest markets in the region, with significant investments in renewable energy and a growing demand for efficient energy management solutions. Further, Europe is also a significant market for DERM, with a high degree of government support for the adoption of renewable energy sources and energy efficiency. The region is characterized by a well-established renewable energy sector and a strong focus on reducing greenhouse gas emissions. The UK, Germany, and France are the largest markets in the region, with a growing demand for DERM solutions in the commercial and industrial sectors.
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Additionally, the Asia-Pacific market for DERM is expected to grow at a rapid pace in the coming years, driven by factors such as the increasing adoption of renewable energy sources, the growing population, and the need for energy efficiency. China, India, and Japan are the largest markets in the region, with significant investments in renewable energy and a growing demand for DERM solutions in both the residential and commercial sectors.
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