PUNE, India, July 10, 2017 /PRNewswire/ --
The report "Distributed Energy Resource Management System Market Technology (Solar PV, Wind, Energy Storage, CHP), Software (Analytics, Management & Control, VPP), End-User (Government & Municipalities, Industrial, Commercial), and Region - Global Forecast to 2022", published by MarketsandMarkets™, the Distributed Energy Resource Management System Market is expected to grow from an estimated USD 291.1 million in 2017 to USD 603.6 million by 2022, registering a CAGR of 15.70%, from 2017 to 2022.
Browse 61 Market Data Tables and 36 Figures spread through 143 Pages and in-depth TOC on "Distributed Energy Resource Management System Market"
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The global market is set to witness a significant growth due to the increasing share of renewable energy in the total energy generation mix, shift from centralized to de-centralized power generation, and reduced cost of DERs such as solar PV and battery storage.
The industrial segment is expected to hold the largest share of the Distributed Energy Resource Management System Market, by end-user, during the forecast period.
The industrial sub-segment, within the end-user segment, led the Distributed Energy Resource Management System Market in 2016, and is projected to dominate the market during the forecast period. However, the residential segment is expected to grow at the fastest rate during the forecast period.
The growth of this segment is primarily driven by increasing deployment of DERs in industries such as petroleum and chemical where energy consumption is more than 350 kW. These industries are located remotely, and require immediate source of electricity generation with cost effectiveness and efficiency measures. This would ultimately create new revenue pockets for the Distributed Energy Resource Management System Market during the forecast period.
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The analytics software sub-segment is expected to hold the largest share of the Distributed Energy Resource Management System Market during the forecast period.
The analytics sub-segment, within the software segment, led the Distributed Energy Resource Management System Market in 2016, and is projected to dominate the market during the forecast period. However, the management and control segment is expected to grow at the fastest rate during the forecast period.
The analytics software system is used to maximize the value of DERs. It also keeps the track of how a particular DER operates. As far as management and control is concerned, it is the intelligence system that provides the maximum value to the operators. Countries such as the U.S. and Germany are expected to drive the market demand, mostly because of the ongoing investment in renewable energy resources.
North America: The leading market for distributed energy resource management system
In this report, the Distributed Energy Resource Management System Market has been analyzed with respect to four regions, namely, North America, Europe, Asia-Pacific, and the rest of the world. The market in North America is expected to dominate the global Distributed Energy Resource Management System Market.
For instance, small scale distributed solar PV, which are generally found on residential rooftops, have grown significantly in the U.S. over the past several years. According to the Energy Information Administration (EIA), the total U.S. solar power generation (PV and thermal) was 3.6 million MWh in September 2015, with 33% coming from small-scale solar PV. Hence, the U.S. presents a greater opportunity for managing these DERs, which will ultimately drive the DERMS market.
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To enable an in-depth understanding of the competitive landscape, the report includes profiles of some of the top players in the Distributed Energy Resource Management System Market. These players include Siemens AG (Germany), ABB, Ltd. (Switzerland), General Electric (U.S.), and Schneider Electric (France). The leading players are trying to understand the markets in developing economies and are adopting various strategies to increase their market share.
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