Global Distribution Energy Resource Management System Market Size to Reach USD 2,591.7 Million in 2032 | Emergen Research
Increasing investment in distributed energy resources with a strong focus on decarbonization is a major factor driving revenue growth of the distribution energy resource management system market
Vancouver, Sept. 27, 2023 (GLOBE NEWSWIRE) — The global distribution energy resource management system market size was USD 487.9 million in 2022 and is expected to register a revenue CAGR of 18.2% during the forecast period, according to the latest analysis by Emergen Research. Integration of the Internet of Things (IoT) and smart technologies is a major trend driving the market revenue growth.
Integration of IoT and smart technologies is a key trend in the market. As the market is evolving the use of smart solutions is increasingly growing. IoT sensors and devices provide real-time data on energy consumption, production, and grid conditions. This enables more precise and timely decision-making in managing Distributed Energy Resources (DERs) through the Distribution Energy Resource Management System (DERMS). IoT-enabled devices can analyze historical data and current conditions to make predictions about future energy usage patterns.
This allows for proactive adjustments in DER management, improving grid stability and reliability. In November 2022, Schneider Electric, a pioneer in advancing the digital transformation of energy management and automation, unveiled a range of innovative technologies addressing critical issues in renewable power generation, grid operations, equipment, and traditional fuel sources at the Enlit 2022 event in Frankfurt, Germany.
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In addition, increasing investment in distributed energy resources with a strong focus on decarbonization is also a major factor driving the market revenue growth. Transitioning power grids to low-carbon emissions is a crucial component of worldwide endeavors to alleviate the impacts of climate change. While renewable energy sources are expected to be central in this decarbonization process, their inherent variability and unpredictability pose fresh challenges for grid operators, which allows shifting demand to distributed energy resource management systems. Distributed Energy Resources (DERs), encompassing distributed generation, demand response, and decentralized energy storage, hold significant potential in furnishing the necessary flexibility to seamlessly integrate high levels of renewable energy.
However, higher initial installation cost of distributed energy resource management systems is expected to restrain the market revenue growth. The higher initial installation cost of a distributed energy resource management system serves as a substantial barrier to its widespread adoption. Organizations, especially smaller enterprises or those with limited budgets, can find the upfront investment prohibitive.
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Scope of Research
|Market size in 2022||USD 487.9 Million|
|Revenue forecast to 2032||USD 2,591.7 Million|
|Base year for estimation||2022|
|Quantitative units||Revenue in USD Million and CAGR in % from 2023 to 2032|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Segments covered||Component, technology, application, end-use, and region|
|Regional scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Country scope||U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, Rest of MEA|
|Key companies profiled||ABB, General Electric, Mitsubishi Electric Corporation, Schneider Electric, Siemens, Emerson Electric Co., Itron Inc., Generac Power Systems, Inc., Enel Spa, Doosan Corporation., ENGIE, Advanced Control Systems, AutoGrid Systems, Inc., and Oracle.|
|Customization scope||10 hours of free customization and expert consultation|
Major Companies and Competitive Landscape
The global distribution energy resource management system (DERMS) market is fragmented, with large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective products. Some of the major companies included in the global distribution energy resource management system market report are:
- General Electric
- Mitsubishi Electric Corporation
- Schneider Electric
- Emerson Electric Co.
- Itron Inc.
- Generac Power Systems, Inc.
- Enel Spa
- Doosan Corporation.
- Advanced Control Systems
- AutoGrid Systems, Inc.
- On July 25, 2023, Schneider Electric and Pacific Gas and Electric Company (PG&E) revealed the implementation of a Distributed Energy Resource Management System (DERMS) on the Microsoft Azure platform. This move is aimed at enhancing grid reliability and expediting customer adoption of Distributed Energy Resources (DER) such as electric vehicles, energy storage, and rooftop solar. The demand for dependable energy service has become more complex due to severe weather conditions and increased electricity needs. The substantial expansion of DER offers crucial load flexibility, particularly with the integration of more renewable energy sources.
- On August 30, 2022, Generac Grid Services, a subsidiary of Generac Power Systems, a prominent provider of energy technology solutions, was chosen by Dominion Energy Virginia to furnish the utility with an all-encompassing Distributed Energy Resource Management System (DERMS) solution utilizing its Concerto platform. This collaboration empowers Dominion Energy Virginia to regulate Distributed Energy Resources (DERs) for the sake of grid reliability. In addition, it offers opportunities to deliver benefits to consumers by allowing approved DERs to engage in current programs or participate in the PJM wholesale electricity market.
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Some Key Highlights from the Report
- Based on component, the software segment is expected to register a rapid revenue CAGR during the forecast period. Software is employed to coordinate the functioning of combined distributed energy resources within a power grid, predominantly at the distribution grid tiers. This often necessitates comprehensive integration with other systems such as Distribution Management System (DMS), to effectively link with utility operations. The integration of software is instrumental in ensuring the efficient and optimal management of the platform.
- Based on end-use, the industrial segment accounted for largest revenue share in 2022. The distributed energy resource management system within the industrial sector acts as a platform for effectively overseeing, regulating, initiating, and fine-tuning distributed energy resources. This encompasses various energy-related hardware such as Electric Vehicles (EVs), solar inverters, thermostats, and similar equipment. When harmonized with an Advanced Distribution Management System (ADMS), DERMS offers a comprehensive view to system operators, facilitating secure and well-coordinated resource dispatch in tandem with operational technologies. Given the intricate and energy-intensive processes in industrial facilities, which often result in high energy demands, the implementation of DERMS allows for optimization of energy utilization and reduction of operational expenses. Moreover, many industries are beholden to stringent environmental regulations and have set sustainability targets. DERMS aids in achieving these objectives by enabling the efficient harnessing of renewable energy and mitigating greenhouse gas emissions.
- The market in Asia Pacific accounted for largest revenue share in 2022. The market revenue growth can be attributed to several factors, including rapid expansion of solar and wind renewable energy projects, heightened energy demands in this region, the presence of densely populated countries such as China, India, Pakistan, and Indonesia, as well as accelerated urbanization and industrialization. Government initiatives and policies have also played a pivotal role. In 2022, China witnessed an unprecedented upswing in solar PV installations, adding nearly 100 GW in just one year, marking an impressive 72% annual growth rate. India also made noteworthy strides, incorporating 17.4 GW of new installed capacity, signifying a substantial 23% growth in panel installations. The National Solar Energy Federation of India (NSEFI) expects that India is poised to surpass the 100 GW threshold of solar installed capacity by early 2024, positioning the country among a select few globally to achieve this remarkable milestone.
- On May 25, 2022, GE Digital unveiled its inaugural offering, stemming from the acquisition of Opus One Solutions, aimed at driving the energy transition at DistribuTECH. Opus One DERMS is a comprehensive, modular Distributed Energy Resource Management System (DERMS) designed to assist utilities in effectively navigating their journey with Distributed Energy Resources (DERs). It ensures grid safety, security, and resilience while also promoting energy affordability and engaging customers in power generation and contribution.
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Emergen Research has segmented the global distribution energy resource management system market on the basis of component, technology, application, end-use, and region:
- Component Outlook (Revenue, USD Million; 2019-2032)
- Technology Outlook (Revenue, USD Million; 2019-2032)
- Grid-Interactive Inverters
- Energy Storage Systems
- Smart Meters and Sensors
- Application Rating Outlook (Revenue, USD Million; 2019-2032)
- Solar PV Units
- Wind Generation Units
- Energy Storage Systems
- Combined Heat & Power Generation System
- EV Charging Stations
- End-Use Outlook (Revenue, USD Million; 2019-2032)
- Regional Outlook (Revenue, USD Million; 2019–2032)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
- North America
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