Global Distributed Energy Resource Management System Market: Overview
A distributed energy resource management system allows utilities to administer distribution grids with a range of connected distributed energy generation assets as well as capitalizes on the advantages from the distributed resources comprising larger utility-grade resources and behind-the-meter. The distributed energy resource management system is likely to play a vital role in catering to the increasing energy demand and popularity.
Global Distributed Energy Resource Management System Market: Growth Factors
Paradigm change in energy generation toward green technology, insufficient centralized electricity supply, and augmented awareness regarding carbon footprint decline along with revised FIT (Feed in Tariff) rates are projected to increase the market development. The high primary investment may act as a most important barrier to the global market. On the other hand, price reduction in the coming future is projected to overcome the limitation. Reduction in the fossil fuel along with their increasing prices may impact the expenditure of energy generation. It is expected that in the coming years the renewable systems will be very cost competitive and at the same time, they will be the most economical alternative for off-grid electrification. Reductions in prices are projected to open new prospects and opportunities for the global market.
Global Distributed Energy Resource Management System Market: Segmentation
The global distributed energy resource management system (DERMS) market can be classified in terms of technology, end-user, software, and geography. Based on technology, the global distributed energy resource management system market can be fragmented into the wind, solar, combined heat & power, energy storage, and others. The software division has been categorized into control and management, virtual power plants and analytics. Based on end-user division, the global distributed energy resource management system market can be divided into government, industrial, residential, commercial, and military.
Global Distributed Energy Resource Management System Market: Regional Analysis
The global distributed energy resource management system market can be classified into four major regions: Europe, North America, the Rest of the World, and the Asia Pacific. North America is projected to dominate and lead the global distributed energy resource management system market.
North America is followed by Europe. The market development is projected to continue in the coming future in the developed regions. A number of aspects such as the growing demand and popularity for newly developed security systems, supportive government regulations, technical breakthroughs in the field of energy and power generation, and growing implementation of IoT and associated services are propelling the expansion of the market in Europe and North America. The global distributed energy resource management system market in the Asia Pacific is likely to develop at a rapid rate in the coming years. Emerging economies in Asia such as China and India are inviting several key players to enter the global market, which in turn is driving the development of the overall market.
Global Distributed Energy Resource Management System Market: Competitive Players
Some of the most important market players in the global distributed energy resource management system market are ABB, Ltd., Enbala Power Networks, Inc., AutoGrid Systems, Inc., Schneider Electric, and Spirae, Inc., among others.
Global Distributed Energy Resource Management System Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- The UK
- France
- Germany
- The Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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