The global distributed energy resource management system market size was evaluated at $10 Billion in 2022 and is slated to hit $16 Billion by the end of 2030 with a CAGR of nearly 5.7% between 2023 and 2030.
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➤ In 2023-2030, there is an increasing demand for energy production from renewable sources to stimulate global market growth.
Countries worldwide are endeavoring to decarbonize their power distribution systems, as non-renewable energy sources such as coal and fossil fuels are susceptible to rapid depletion. Furthermore, the utilization of renewable energy means that the environment is conserved and its degradation is minimized.
➤ The global industry’s ascent over the forecast timeline may be impeded by the higher initial costs of deployment.
The expansion of the global distributed energy resource management system industry may be hindered by a significant increase in the installation costs and substantial operation and maintenance costs that arise after the installation of these systems.
➤ Increasing the allocation of funds to the refurbishment of outdated power grid infrastructure in order to create new opportunities for growth in the global market
The global distributed energy resource management system market will be presented with new growth opportunities as a result of the increase in investments in grid digitization to implement new communication techniques.
➤ The expansion of the market can be significantly impeded by the risk of cyber security.
The primary obstacle facing the global distributed energy resource management system industry is the protection of energy storage technologies and information and communication technologies from cyber-attacks and data intrusions.
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The Global Distributed Energy Resource Management System Market is segmented based on product, application and region
Global Distributed Energy Resource Management System Market: Product Segment Analysis
● Solar PV Units
● Energy Storage Systems
● Wind Generation Units
● Combined Heat & Power Generation Systems
● EV Charging Stations
Global Distributed Energy Resource Management System Market: Application Segment Analysis
● Industrial
● Residential
● Commercial
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The global Distributed Energy Resource Management System market profiles key players such as:
● Itron
● ABB Ltd.
● Siemens
● Schneider Electric SE
● General Electric Corporation
● ENGIE
● Emerson Electric Co.
● Oracle Corporation
● Generac Holdings Inc.
● Spirae LLC
● Sunverge Energy Inc.
● Mitsubishi Electric Corporation
● Opus One Solutions
● Viridity Energy Solutions Inc.
● Hitachi Ltd.
???? Recent Developments
• Mitsubishi Electric Corporation, a Japanese company that specializes in the production of electric and electronic equipment, acquired Smarter Grid Solutions, a prominent provider of software for managing distributed energy resources, in the third quarter of 2021.The strategic initiative will facilitate the expansion of its distributed energy resource management software product line and power management enterprise software portfolio.
• In the latter half of 2021, Hitachi Energy, a prominent participant in the global energy sector, introduced the improved PowerStore battery energy storage system products. This action is anticipated to facilitate the company’s expansion of its distributed energy system business.
➤ From 2023 to 2030, the North American market for distributed energy resource management systems is expected to experience a large increase.
Massive expansion is anticipated in the Distributed Energy Resource Management System Market in North America during the forecasting period. Additionally, it is anticipated that North America will maintain its market leadership in the near future, as it accounted for a significant portion of the total market in 2022.
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