Distributed Energy Resource Management System Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Distributed Energy Resource Management System Market
The distributed energy resource management system market size was valued at USD 0.49 billion in 2023, and the market is now projected to grow from USD 0.57 billion in 2024 to USD 1.86 billion by 2032, exhibiting a CAGR of 18.3% during the forecast period of 2024-2032.
COVID-19 keeps to unfold rapid over the arena. COVID-19 had a minor worldwide have an effect on the disbursed electricity useful resource management gadget (DERMS) enterprise, slowing its increase pace. The marketplace for allotted energy aid control structures has been impacted via factors which include reduced capital investments in solar, shifts in energy call for due to shutdowns, and the need for domestic workplaces in the course of the COVID-19 disaster. Lockdown measures reduced energy intake thanks to decreased industrial pastime, hindering efforts to establish new disbursed electricity resources (DERs). However, the growing reliance on renewable electricity propels the industry forward.
Governments are increasingly more investing in clever grids to enhance performance and decrease CO2 emissions. In July 2022, the U.S. Trade and Development Agency supplied Marrakech's Régie Autonome de Distribution d'Eau et d'Electricité de Marrakech (RADEEMA) an agreement to study the transformation of strength infrastructure into a clever grid. In November 2021, the U.S. Surpassed an ultra-modern Infrastructure Investment and Jobs Act, imparting a USD three million funding inside the Smart Grid Investment Matching Grant Program.
The growing populace and urbanization have caused a surge in call for merchandise, fueled by using industrial evolution, urbanization, and growing intake. This has led to a demand for demand response management software and systems, driven by the development of intelligent infrastructures and higher power consumption. The International Energy Agency predicts a 500 GW response capacity by 2030 for demand-response management, with decentralized energy resource management increasing distributed energy resource management system market growth over the next decade.
Comprehensive Analysis of Distributed Energy Resource Management System Market
The market for distributed energy resource management systems (DERMS) is divided into three segments: Virtual Power Plants (VPP), analytics, and management & control. VPPs offer cloud-based real-time operational control and cluster capacities of distributed energy resources, boosting efficiency. Management & control software helps manage operations remotely, identify faults, and take corrective action. The market is also segmented into solar, energy storage, wind, EV charging stations, and Combined Heat & Power applications. The industrial & utilities segment dominates the DERMS market due to its significant penetration and significant amount of distributed energy. Residential and commercial segments also use DERMS for efficient operation and optimization.
The Asia Pacific region lead the distributed energy resource management system market share by benefitting a market size of USD 0.16 billion in 2023 due to Asia Pacific controls the market for distributed energy resource management systems. The region's need for DERMS is driven by the rapid development of solar and wind renewable energy, as well as high energy demand. across August 2022, Horizon Power released a new DERMS across Western Australia's regional microgrids, allowing rooftop solar and electric vehicle customers to safely connect with utility energy supplies.
Major market companies include Itron (US), Oracle (US), Energy Hub (US), Au-toGLidSystems (US), and Opus One Solutions (Canada)., Blue Pillar (US), Kitu Systems (United States), Enel (Italy), Open Access Technology International, Ltd. (United States)., Sunverge Energy Inc. (United States), Hitachi ABB (Switzerland, Schneider Electric (France), Siemens (Germany), General Electric (U.S.) and Engie (France), Generac (U.S.) is developing virtual power plants in response to the growing renewable energy sector and the need for sustainable energy demand management.
In November 2022, FirstEnergy, an Ohio-based corporation, used Oracle's Advanced Distribution Management grid to control power outages throughout its six-state electric grid. Oracle assisted FirstEnergy in implementing its Utilities Network Management System (NMS), allowing for active management and control of its 10 electric utility centers.
Segmentation Table
Attribute Details
Study Period 2019-2030
Base Year 2022
Estimated Year 2023
Forecast Period 2023-2030
Historical Period 2019-2021
Growth Rate CAGR of 18.3% from 2023 to 2030
Unit Value (USD Billion)
Segmentation By Software, Application, End-user, and Region
Segmentation By Software
Virtual Power Plant (VPP)
Management & Control
Analytics
By Application
Solar
Energy Storage
Wind
EV Charging Stations
Others
By End-user
Residential
Commercial
Industrial & Utilities
By Region
North America (By Software, By Application, By End-user, and By Country)
- U.S. (By End-user)
- Canada (By End-user)
Europe (By Software, By Application, By End-user, and By Country)
- U.K. (By End-user)
- Germany (By End-user)
- France (By End-user)
- Italy (By End-user)
- Spain (By End-user)
- Netherlands (By End-user)
- Rest of Europe (By End-user)
Asia Pacific (By Software, By Application, By End-user, and By Country)
- China (By End-user)
- India (By End-user)
- Japan (By End-user)
- Australia (By End-user)
- Southeast Asia (By End-user)
- South Korea (By End-user)
- Rest of Asia Pacific (By End-user)
Latin America (By Software, By Application, By End-user, and By Country)
- Brazil (By End-user)
- Mexico (By End-user)
- Argentina (By End-user)
- Rest of Latin America (By End-user)
Middle East & Africa (By Software, By Application, By End-user, and By Country)
- South Africa (By End-user)
- GCC (By End-user)
- Egypt (By End-user)
- Turkey (By End-user)
- Rest of Middle East & Africa (By End-user)
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