Market Size in 2024 | Market Forecast in 2034 | CAGR (in %) | Base Year |
---|---|---|---|
USD 615.24 Million | USD 3445.16 Million | 18.8% | 2024 |
FrequentlyAsked Questions
A distributed energy resource management system also referred to as DERMS is a tool that helps distribution system operators effectively handle their power grids that are based on distributed energy resources. Furthermore, these systems help public utilities efficiently manage distribution grids with a slew of connected distributed energy generation tools.
The global distributed energy resource management system market is expected to grow due to increasing adoption of renewable energy sources, the growing need for grid modernization and stability, favorable government policies and incentives, and advancements in smart grid technologies including AI and IoT.
According to a study, the global distributed energy resource management system market size was worth around USD 615.24 Million in 2024 and is expected to reach USD 3445.16 Million by 2034.
The global distributed energy resource management system market is expected to grow at a CAGR of 18.8% during the forecast period.
North America is expected to dominate the distributed energy resource management system market over the forecast period.
Leading players in the global distributed energy resource management system market include Itron (U.S.), Oracle (U.S.), Energy Hub (U.S.), AutoGrid Systems (U.S.), Opus One Solutions (Canada), Blue Pillar (U.S.), Kitu Systems (U.S.), Enel (Italy), Open Access Technology International, Ltd. (U.S.), Sunverge Energy Inc. (U.S.), Hitachi ABB (Switzerland), Schneider Electric (France), Siemens (Germany), General Electric (U.S.), Engie (France), Generac (U.S.), Mitsubishi Electric Corporation (Japan), Doosan Heavy Industries & Construction (South Korea), among others.
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