Distributed Energy Resource Management System Market Size to Rise at a Moderate CAGR of 2026
Albany, NY -- (SBWire) -- 08/09/2018 --A distributed energy resource management system (DERMS) allows utilities to manage distribution grids with a variety of connected distributed energy generation (DEG) assets and capitalizes on the benefits from the distributed resources including behind-the-meter and larger utility-grade resources. They play a crucial role in catering to the rising energy demand. Insufficient power supplied by centralized power systems coupled with their rising prices are expected to lay the groundwork for the DEG systems market which will be a crucial factor adding to the growth of the distributed energy resource management system (DERMS) market.
Insufficient centralized electricity supply, paradigm shift in energy generation toward green technology, and increased awareness about carbon footprint reduction coupled with revised FIT (Feed in Tariff) rates are expected to spur the market growth. The high initial investment acts as a major barrier to the market. However, price decline in the coming years is expected to overcome the restraint. Depleting fossil fuel coupled with their rising prices impacts the cost of energy generation.Today's renewable systems are cost competitive and the most economic option for off-grid electrification. Low prices are likely to open new opportunities for the market which has helped reach grid parity quickly in these high priced electricity markets. The 2004/8/EC directive was developed by the European Commission (EC) in 2004 to trim down emissions (greenhouse gases) and support cogeneration systems. This promotes the DEG systems market that contributes positively to the distributed energy resource management system (DERMS) market.
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The global distributed energy resource management system (DERMS) market has been segmented on the basis of technology, software, end-user, and region. In terms of technology, the market has been classified into solar, wind, energy storage, combined heat & power and others. The software segment has been divided into management and control, analytics, and virtual power plants. In terms of the end user segment, the global distributed energy resource management system market has been bifurcated into industrial, government, commercial, residential, and military. On a regional basis, the market has been categorized into North America, Europe, Asia Pacific, Middle East & Africa, and South Africa.
North America is expected to hold a prominent share of the global distributed energy resource management system market, followed by Europe in 2017. This trend is expected to continue during the forecast period. A number of factors such as the increasing demand for new advanced security systems, technical breakthroughs in the field of energy and power generation, supportive government regulations, and increasing adoption of IoT and related services are driving the growth of the market in North America and Europe. The market in Asia Pacific is expected to expand at a faster rate between 2018 and 2026. Developing economies in Asia such as India and China are inviting global players to enter their market, which is in turn supporting the growth of the overall market.
In the current scenario, the global distributed energy resource management system (DERMS) market is highly fragmented. However, there are a few well established players having strong distribution networks. Also, these players have deeply penetrated into the distributed energy resource management system (DERMS) market by introducing innovative and technologically advanced products. The companies are strengthening their position through mergers & acquisitions and continuously investing in research & development (R&D) activities to come up with solutions to cater to customer requirements. Furthermore, the solution providers are planning to invest in advanced technologies with a target to provide cost competitive product in the market
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The prominent industry vendors of the distributed energy resource management system market are ABB Ltd, Sunverge Energy, Inc, Blue Pillar, Inc., Enernoc, Inc., Autogrid Systems, Inc., Siemens AG, General Electric, Open Access Technology International, Inc., Spirae, Inc., Schneider Electric, Enbala Power Networks, Inc. and Doosan Gridtech, Inc.
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