According to a new report, published by KBV research, The Global Distributed Energy Resource Management System Market size is expected to reach $1.1 Billion by 2029, rising at a market growth of 19.4% CAGR during the forecast period.
The Software segment is showcasing a CAGR of 21.1% during (2023 - 2029). In order to integrate DERMS with a utility, these systems often need to be more fully integrated, like a distribution management system (DSM). All DERMS capability is often provided by an outage management system (OMS) and a supervisory control and data acquisition (SCADA) system. The DERMS software aids grid operators in maintaining consumer comfort while ensuring system dependability.
The Industrial segment is leading the Global Distributed Energy Resource Management System Market by End User in 2022 thereby, achieving a market value of $571 Million by 2029. During the projection period, it is anticipated that the demand for DERs will increase in the industrial sector, accounting for the rising use of DERMS. The necessity to efficiently utilize power and the increasing demand for energy in the industrial sector are the main factors driving the growth.
The Energy Storage Systems segment has shown the growth rate of 19.2% during (2023 - 2029). Energy storage systems integrated with DERMS can provide grid stabilization services. They can respond rapidly to fluctuations in electricity supply and demand, helping to balance the grid and mitigate the effects of intermittent renewable energy sources. DERMS enables energy storage systems to provide frequency regulation, voltage support, and grid backup services, which enhance overall grid stability and reliability.
The Asia Pacific market dominated the Global Distributed Energy Resource Management System Market by Region in 2022 and would continue to be a dominant market till 2029; thereby, achieving a market value of $409.5 Million by 2029. The Europe market is exhibiting a CAGR of 18.9% during (2023 - 2029). Additionally, The North America market would showcase a CAGR of 18.7% during (2023 - 2029).
Full Report: https://www.kbvresearch.com/distributed-energy-resource-management-system-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Siemens AG, Schneider Electric SE, General Electric Company, Hitachi, Ltd. (Hitachi Energy Ltd.), Emerson Electric Co., Mitsubishi Electric Corporation, Oracle Corporation, Itron, Inc., Generac Holdings, Inc. and Enel S.p.A.
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By End User
By Application
By Geography
Companies Profiled
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