Distributed Energy Resource Management System Market Scope
Market Research Future (MRFR) reveals that the global distributed energy resource management market is likely to exhibit a CAGR of around 16.50% over the evaluation period of 2016 to 2023.
The global distributed energy resource management system market is expected to capitalize on benefits of the system. Distributed Energy Resource Management System Market eliminates the limitations by centralized power systems. The rising price for electricity is triggering the need for effective and affordable solutions, due to which distributed energy resource management solution is gaining popularity. Shifting focus towards energy generation by green technology and growing awareness about carbon footprint are factor that are also expected to cast a positive impact on the market growth. The high initial investment acts as a major barrier to the market. However, lack of initial investment can act as a constraint on the market expansion.
The global market of distributed energy resource management has been segmented by technology, software, and end-user.
By technology, the market has been segmented into wind, solar PV, combined heat & power, and others. Installation of several off-shore turbines are being observed, as the demand for energy surges. The wind segment is expected to contribute significantly to the expansion of the market in the coming years.
By software, the distributed energy resource management system market has been segmented into virtual power plant, analytics, and management & control. The analytics segment is likely to direct the market growth. Predictive analytics solutions aids in cutting down maintenance cost, increase efficiency, and promote better interaction with their customers.
By end-user, the distributed energy resource management market has been segmented into industrial, government & municipalities, residential, military, and commercial.
Regional Outlook
By region, the distributed energy resource management market has been studied in Europe, North America, Asia-Pacific, and the Rest of the World (RoW).
The market in North America is expected to secure the prime position in the global distribution energy resource management market. The United States is expected to hold the giant share of the regional market over the review period. By 2023, the increasing activities concerning mall-scale combined heat, the distributed solar, sand power systems, energy storage, and electric vehicles are expected to cast a positive impact on the United States market. In addition, the rising electric utilities of consumers on the DER front, triggered the setting up of DER plants in the region, which is expected to propel the regional market growth. In Europe, the distributed energy resource management market is expected to gain global foothold due to increase in number of wind turbines that are installed to meet energy demands. In the Asia Pacific region, the increase in world population is rising the demand for energy. Consumers are demanding for quick fix to their need due to which, distributed energy resource management is gaining popularity. Hence, the APAC market is expected to gain momentum in the near future.
Key Players
MRFR listed some of the key players that are operating in the global distributed energy resource management market. They are; Autogrid Systems, Inc., ABB Ltd, General Electric, Siemens AG, Spirae, Inc., Schneider Electric, Enbala Power Networks, Inc., Open Access Technology International, Inc., Blue Pillar, Inc., Doosan Gridtech, Inc, Enernoc, Inc., and others. The rising need for clean and renewable energy is intensifying competition among market key players. They are marking deliberate effort to meet energy demand of people. The pace at which the energy needs are meet is likely to determine the growth of key players. An in-depth understanding of the market’s competitive landscape assists in making strategic decisions that is likely to propel the distributed energy resource market growth.
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