The need for energy efficiency and increasing investments to upgrade aging grid infrastructure are expected to drive the growth of the distributed energy resource management system market during the forecast period.
The global distributed energy resource management system market is projected to reach USD 750 million by 2026 from an estimated USD 286 million in 2021, at a CAGR of 21.2% during the forecast period.
The distributed energy resource management system market is dominated by major players that are established brand names with an extensive regional presence, along with many local and regional players in emerging economies. The key players in the distributed energy resource management system market include companies such Siemens (Germany), Schneider Electric (France), General Electric (US), ABB (Switzerland), Emerson (US)
Download PDF Brochure : https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=256436187
North America is estimated to be the largest growing market for distributed energy resource management system during the forecast period. The region has been segmented, by country, into US, Canada, and Mexico. The increasing investment in smart grid in the North America region is driving the distributed energy resource management system market in this region. In US, the American Recovery and Reinvestment Act (ARRA) of 2009 provided the US DoE with 3.4 billion to invest in 99 Smart Grid Investment Grant (SGIG) projects to modernize the electric grid, strengthen cybersecurity, improve interoperability, and collect smart grid impact data. Moreover, the demand for electricity in Canada is increasing year on year due to various factors, such as population growth, technological developments, greater use of electrical equipment & appliances, and low electricity prices, which is likely to drive the North American distributed energy resource management system market.
The distributed energy resource management system market has been segmented based on offering into software, and services. The Services segment is expected to be the largest market during the forecast period. Services offered in the distributed energy resource management system market enable smart and coordinated decision-making processes, mitigating the risks using efficient tools and techniques.
Ask Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=256436187
Based on application, the market has been segmented to Solar PV Units, Wind Generation Units, Energy Storage Systems, Combined Heat & Power Generation Systems, EV Charging Stations and Others. The Solar PV Units segment is expected to witness a higher CAGR during the forecast period. Low price of solar PV, encouraging manufacturers to consider solar power as an alternative to other conventional power generation sources., which acts as significant driving factors for the segment’s growth.
