Distributed Energy Resources (DERs) Management Systems Market Achieves USD 401 million in 2023, Eyes 17.03% CAGR Surge Until 2030
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Distributed Energy Resources (DERs) Management Systems Market Achieves USD 401 million in 2023, Eyes 17.03% CAGR Surge Until 2030
Global Distributed Energy Resources (DERs) Management Systems Market: In-Depth Analysis and Forecasts for 2024-2030
MarkNtel Advisors, a leading market research firm, has showed its latest study titled “Distributed Energy Resources (DERs) Management Systems Market“, offering a detailed industry overview and market perspective. This comprehensive research provides insights into the current state of the market, highlighting recent advancements and emerging trends.
The report combines in-depth quantitative analysis with qualitative analysis; it ranges from macro-overviews of the overall market size, industry chain, and market dynamics to micro details of segment markets. This, as a result, provides a thorough overview of the industry under study as well as a profound understanding of all of its important features.
Analysis and Insights into the Distributed Energy Resources (DERs) Management Systems Market: 2024-2030
The Global Distributed Energy Resources (DERs) Management Systems Market size was valued at around USD 401 million in 2023 and is projected to reach around USD 1,334 million by 2030. Along with this, the market is estimated to grow at a CAGR of about 17.03% during the forecast period, i.e., 2024-30. The factors attributing to the growth in the demand for these management solutions are the upgradation of the power grid lines, the establishment of smart cities & homes, and the inclination towards renewable and sustainable power solutions.
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What are the primary factors driving the growth of the Distributed Energy Resources (DERs) Management Systems Market?
Expansion of Power Grid Lines Amplifying Market Growth – Over the years, the population across the globe has increased substantially. As per the World Bank Statistics, in 2022, the total population reached around 7.95 billion, an increase of about 60 million people compared to 2021. Along with this, there has been a rise in urbanization across the region, like Asia-Pacific & South America. This is resulting in higher requirements for the residential spaces that need the power. Therefore, private entities are actively expanding their power gridlines to fulfill the requirements of the customers and make electricity accessible to the mass population. For instance, in 2022, Iberdrola announced an investment of around USD 45 billion to extend the grid network in the US. This expansion of electricity network infrastructure requires solutions that help in overall power management & distribution, thus supporting the Global DERs Management Systems Industry.
Additionally, the power infrastructure of several countries has become old, causing power outage issues. As per the Department of Energy, the majority of the power infrastructure is 40 to 60 years old. Thus, there is a dire need for renovation and the authorities have been upgrading the outdated power infrastructure. This, in turn, would enhance the requirement for solutions that adequately help in supplying electricity, ensuring the Global DERs Management Systems Market growth in forecast years.
Distributed Energy Resources (DERs) Management Systems Market Segmentation:
The Distributed Energy Resources (DERs) Management Systems market is categorized in to different segments. Analyzing growth across these segments enables a comprehensive understanding of key growth areas within the industry. This segmentation provides valuable market insights, empowering stakeholders to make strategic decisions and identify primary market applications effectively.
By Software
- Analytics- Market Size & Forecast 2019-2030, USD Million
- Virtual Power Plant- Market Size & Forecast 2019-2030, USD Million
- Management & Control- Market Size & Forecast 2019-2030, USD Million
By Application
- Solar Photovoltaic (PV) Units- Market Size & Forecast 2019-2030, USD Million
- Wind Generation Units- Market Size & Forecast 2019-2030, USD Million
- Energy Storage Systems- Market Size & Forecast 2019-2030, USD Million
- Combined Heat & Power Generation Systems- Market Size & Forecast 2019-2030, USD Million
- EV Charging Stations- Market Size & Forecast 2019-2030, USD Million
- Others – Market Size & Forecast 2019-2030, USD Million
By End User
- Industrial- Market Size & Forecast 2019-2030, USD Million
- Residential- Market Size & Forecast 2019-2030, USD Million
- Commercial- Market Size & Forecast 2019-2030, USD Million
- Utilities- Market Size & Forecast 2019-2030, USD Million
Geographical Analysis into the Distributed Energy Resources (DERs) Management Systems Market:
The Distributed Energy Resources (DERs) Management Systems market is categorized based regional:
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific
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Competitive Landscape and Distributed Energy Resources (DERs) Management Systems Market Share Analysis:
The competitive landscape of the Distributed Energy Resources (DERs) Management Systems Market includes comprehensive details about competitors. These details encompass company overviews, financial performance, revenue generation, market potential, investments in research and development, new market strategies, production facilities, strengths and weaknesses, product launches, ongoing trials, approvals, patents, product range, dominant applications, and technology life cycle.
- ABB Ltd.
- General Electric
- Siemens AG
- Schneider Electric
- Oracle Corporation
- Itron
- Autogrid Systems Inc.
- Mitsubishi Electric Corporation
- Opus One Solutions
- Emerson Electric Co.
- Generac
- Enel
- Doosan Corporation
- EnergyHub
- Engie SA
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Questions Addressed in this Study
- What factors are driving the Distributed Energy Resources (DERs) Management Systems Market growth?
- How is the Distributed Energy Resources (DERs) Management Systems Market expected to grow over the next five years?
- What are the key insights into the current trends in the Distributed Energy Resources (DERs) Management Systems Market?
- What is the current size of the Distributed Energy Resources (DERs) Management Systems Market, and how is it projected to change in the future?
- What is the future outlook for the Distributed Energy Resources (DERs) Management Systems Market in terms of technological advancements and market expansion?
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Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 14.8 diverse industrial verticals.
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