Distributed Energy Resource Management Market 2020 Global Analysis By Opportunities and Forecast to 2023
The global Distributed Energy Resource management market is estimated to expand at 16.50% CAGR during the forecast period. Distributed energy resource management is a system which takes care of the management of distributed energy resources (DERs) through the integration of hardware and software. In the current scenario, distributed energy resources (DERs) are highly in demand due to factors such as unexpected utility power outages, planned rolling blackouts, power quality issues, and increase power costs. The global Distributed Energy Resource management market is set to witness significant growth due to increasing share of renewable power generation as well as growing government mandates and updated policies. For instance, substantial amount of capital has been invested in solar, energy storage, and customer energy management by almost 42 electric utilities. By building a strong portfolio of DER companies, electric utilities are exploring the potential value of DERs and their ability to increase customer engagement.
Distributed energy resource management (DERMS) is the management of distribution grid which is integrated with distributed energy resources (DERs). In order to tackle the current challenges related to distribution grid, electric utilities need new set of tools to manage highly penetrated DERs. These tools are a combination of different hardware and software that are integrated together in order to manage these resources properly. Distributed Energy Resource management is a module which manages the DERs and traditional distribution assets such as capacitor banks, voltage regulators, and tap changers. This management system increases the grid reliability and performance of the DERs by significantly reducing the voltage excursions and maintain higher network stability.
Industry Segmentation
The Distributed Energy Resource management market has been segmented based on end-user as industrial, government & municipalities, Commercial, residential, and military. Among these end-users, industrial segment is the largest segment in the distributed energy resource management market due to increasing investments being made by major players in setting up the DERMS platform. For instance, General Electric has invested in Enbala through GE energy ventures has also been committed to offer DERMS with collaborating with DUKE Energy’s Coalition of the Willing and Nice Grid Project. All these factors are likely to drive the market for Distributed Energy Resource management.
Leading Players
The key players of the global Distributed Energy Resource management market are ABB Ltd, Autogrid Systems, Inc., Siemens AG, General Electric, Open Access Technology International, Inc., Spirae, Inc., Schneider Electric, Enbala Power Networks, Inc., Doosan Gridtech, Inc, Blue Pillar, Inc., and Enernoc, Inc., among others
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.