According to the new market research report “Distributed Energy Resource Management System Market by Technology (Solar PV, Wind, Energy Storage, CHP), by Software (Analytics, Management & Control, VPP), by End-User (Government & Municipalities, Industrial, Commercial), and by Region – Global Forecast to 2022”, published by MarketsandMarkets™, the global distributed energy resource management system market is expected to grow at a CAGR of 15.70%, from 2017 to 2022, to reach a market size of USD 603.6 billion by 2022. The shift from centralized to de-centralized power generation, government mandates in renewables and updated policies, and increasing share of renewable power generation in the total power generation mix are the major factors driving the DERMS market.
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61 – Tables
34 – Figures
144 – Pages
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The distributed energy resource management system market is dominated by a few major players that have a wide regional presence and are established brand names. Leading players in the distributed energy resource management system market, such as Siemens AG (Germany), ABB, Ltd. (Switzerland), General Electric (U.S.), and Schneider Electric (France), have either acquired regional companies or made a joint venture with the ones operating in the distributed energy resource management system market to bolster their product portfolio and to enhance their global reach.
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With regard to the end-user segment, the residential segment is expected to constitute the fastest growing market from 2017 to 2022. In terms of market size, the industrial segment would dominate the distributed energy resource management system market. The industrial sector encouraged the use of DERs as many industrial sectors such as petroleum and chemical industry with energy consumption of more than 350 kW require equally reliable and resilient system or software for managing, controlling, and analyzing the real-time data for proper allocation of energy, according to the loads.
The report segments the distributed energy resource management system market, based on technology, into solar PV, wind, energy storage (thermal and battery), Combined Heat & Power (CHP), and others. The solar PV segment would account for the maximum share under the technology segment in the distributed energy resource management system market.
This particular market is expected to grow in the future as a result of increasing solar PV installation in the household sector as well as commercial buildings in North America and other parts of the world. Moreover, Europe and some countries of Asia-Pacific such as Australia, Japan, and South Korea also present opportunities as power de-centralization is on rise in these regions.
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The market in Asia-Pacific is estimated to be the fastest growing market for distributed energy resource management system from 2017 to 2022. Increasing use of renewable energy resources for power generation, especially in Australia and South Korea are driving the demand for distributed energy resource management system in this region. The growing need for energy reliability and efficiency are also expected to spur the growth of the market and represents a promising opportunity for major distributed energy resource management system providers.
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