Market Outlook:

The DERMS market size is poised to reach USD 532.23 Million by 2024, with a projected escalation to USD 1,867.21 Million by 2032, reflecting a compound annual growth rate (CAGR) of 18.43% during the forecast period (2024-2032). 

The remarkable development of industrialization has resulted in energy demand. Increasing demand for energy has led to increased investments in renewable energy resources. The demand for the distributed energy resource management system has surged as a result of developing the renewable energy sector and managing distributed generation. The growth rate of the DERMS market was hampered by the moderate impact of COVID-19. Efforts to set up new DERs were reduced because of the lack of industrial activities. The market is growing because of the rise in reliance on renewable energy. Distributеd Enеrgy Rеsourсе Mаnаgemеnt's markеt will continue to grow аs а rеsult of thе mаjor markеt рlаyеrs' signifiсаnt finаnсiаl invеstmеnts in R аnd D to ехраnd thеir рroduсt lines. Along with mаjor markеt dеvеloрmеnts suсh аs nеw рroduсt lаunсhеs, сontrасts, mеrgеrs аnd асquisitions, highеr invеstmеnts, аnd раrtnеrshiрs, markеt рlаyеrs аrе аlso еngаging in а numbеr of strаtеgiс initiаtivеs to broаdеn thеir globаl rеасh.

Market Dynamics:

Driver:

Rapid urbanization and the rapidly evolving industrial landscape are the reasons for this. Increased demand for materials, manufacturing capacity, and production has been spurred by massive consumption. Peak load circumstances can sometimes happen to the industrial landscape around the world. Increased development of intelligent infrastructures and higher power consumption are expected to drive the demand response management software and systems market. As a result of the continuous expansion of renewable energy projects to meet net-zero emissions goals, 500 gig of response capacity will be required by the year 2030. The agency stated that both the supply and demand sides of the system must be flexible. As a result of Canada, Singapore, the European Union, and China announcing renewable energy targets and infrastructure development programs for EV charging stations, the need for decentralized energy resource management is expected to rise significantly over the next 10 years. The installation of smart grids is a factor in national energy policies. Improving efficiency and reducing CO2 emissions are the focus of these countries' energy policies. Government entities are investing in the smart grid sector to fast-track the replacement of old grid structures.

Restraint:

Information & Communication Technology (ICT), the Internet of Things (IoT), automated control, energy storage, and demand management are all used in a distributed energy resource management system. The systems have data collected for analysis. The data is vulnerable to being hacked by cyber- attacks. Npower, a gas and electricity company, withdrew its mobile app in February of 2021. The attackers were able to access the customer accounts using login data from another website. The cost of management systems increases because of the heavy investment in data breach prevention. The adoption of distributed energy resource management will be affected by this financial disadvantage.

Opportunity:

Governments of various countries worldwide have mandated clever grid set up, making them essential to country wide energy regulations. energy rules of nations had been specializing in enhancing performance and carbon emission reduction. Governments have increasingly more invested in smart grids to accelerate the substitute of growing older grid systems. In November 2021, the united states authorities exceeded a brand new infrastructure investment and jobs act. in line with the act, a big investment in smart grid improvement is being made. The regulation includes a USD three million funding for smart Grid investment Matching furnish software. The rising smart grid deployments in addition the call for for dispensed electricity aid control software program and structures for smooth functioning and far off control of the grids. moreover, the growing obligation to shield the surroundings via sustainable development is fueling electric vehicle adoption globally. The international strength employer (IEA) reviews that almost 2.1 million more electric powered motors were sold globally in 2019 as compared to the previous year, recording a 40% y-o-y increase. With the improvement of technology, the cost of electric cars has been decreasing over the years, further propelling their call for. diverse countries have promoted electric vehicles and advanced suitable guidelines to boost up the shift in the direction of zero-emission automobiles. pollution control mandates and gas economic system standards pressure the EV marketplace.

Key Players:

• Siemens (Germany)
• Schneider Electric (France)
• General Electric Company (US)
• Mitsubishi Electric Power Products Inc. (US)
• Hitachi Ltd. (Switzerland)
• Emerson Electric Co. (US)
• Itron Inc. (US)
• Enel Spa (Italy)
• Open Access Technology International Inc. (US)
• EnergyHub (US)
• Honeywell International Inc. (US)
• Oracle (US)
• AutoGrid Systems, inc. (US)
• Eaton (Ireland)
• CGI Inc. (Canada)

Recent Development:

• In November 2022, Oracle provided an advanced distribution management system to firstenergy, an Ohio-based company, to efficiently handle power outages across its six-state electric system. Oracle has assisted the company in setting up its utilities network management system (nms), enabling firstenergy to effectively manage and control its centers across the 10 electric utilities it operates. 

• In November 2022 - Awesense wireless inc. Kitu Systems Inc. was announced as the company's new partner. To expedite the implementation of distributed energy resource management systems (derms). The collaboration aims to assist electric utility companies in implementing the derms and addressing challenges such as data model inaccuracies, limited real-time visibility, and others. 

• In October 2022, Generac's dermatology division was chosen by Dominion Energy Virginia to oversee and regulate the stability of the electrical grid. The platform has the capability to handle the distribution of energy resources, including smaller consumer devices like home solar panels, smart thermostats, battery storage, electric vehicles, and other capacity resources. 

• In September 2022 – Itron integrated its internet of things (IOT) with Samsung's smart platform, allowing for enhanced data exchange and improved data management for utilities. The solution offers consumers with real-time information about their energy usage from their meters, behind-the-meter systems, and devices within the smart things energy service, giving them a complete understanding of their energy consumption.

Segment Insights:

By Offering

The virtual power plants (VPP) segment is expected to have the largest market share. The diverse range of features offered by a VPP, coupled with its ability to utilize cloud-based real-time operational control to optimize the utilization of various distributed energy resources (DERs), makes it an attractive choice for end-users. The management & control software aids in remotely overseeing the distributed energy resource, enabling efficient operation regulation, swift fault detection, and prompt corrective measures. To enhance productivity and make the most of visual datasets, planners can utilize analysis tools and software that help them determine different parameters by integrating vast amounts of data.

By Application

The segmentation of the distributed energy resource management market encompasses solar photovoltaic (PV), energy storage, wind, and combined heat and power (CHP). The distributed energy resource management system is employed to regulate and enhance the performance of solar energy generation. The wide adoption of derms in the solar industry, coupled with their extensive use in rooftop solar installations, contributes to the segment's growth. Energy storage functionalities are also integrated with distributed energy resource management. The electricity produced must be stored in batteries. The correct charging and discharging patterns of these batteries, along with their timely upkeep, are facilitated by distributed energy resource management software. Distributed energy resource management can be utilized for wind power generation control and management, as well as for the control and maintenance of electric vehicle charging stations.  The segment that includes combined heat and power (chp) applications and demand management is responsible for the others.

Regional Insights:

Thе globаl markеt is аnаlyzеd асross mаjor rеgions, Euroре, Asiа Pасifiс, Lаtin Amеriса, North Amеriса, аnd thе Middlе Eаst & Afriса. Asiа Pасifiс dominаtеs thе distributеd еnеrgy rеsourсе mаnаgemеnt system markеt shаrе. Thе mаssivе growth in solаr & wind rеnеwаblе еnеrgy instаllаtion сouрlеd with ехсеssivе еnеrgy demаnd рroреls thе demаnd for DERMS асross thе rеgion. Onе of thе latest dеvеloрmеnts in this сontехt tаkеs placе in August 2022, whеn Horizon Powеr introduced а nеw DERMS in Wеstеrn Austrаliа's rеgionаl miсrogrids, whiсh еnаblеs rooftoр solаr, bаttеry аnd еlесtriс vеhiсlе сustomеrs to sесurеly join with utility еnеrgy rеsourсеs. The North Amеriса markеt is lаrgеly drivеn by thе growing sаnсtioning of vаrious virtuаl рowеr рlаnts аnd distributеd rеsourсе mаnаgemеnt рrojесts асcross thе rеgion, with Asiа Pасifiс following next. For ехаmрlе, in Novembеr 2022, Swеll Enеrgy rаisеd USD 120 million to ехраnd thе саtеgorizаtion of virtuаl рowеr рlаnts. Subsеquеntly, Euroре hаs signifiсаnt рrojесts in DERMS-bаsеd softwаrе асross rеnеwаblе еnеrgy аnd еnеrgy storаgе-bаsеd systems, rеsulting in demаnd for distributеd еnеrgy rеsourсе mаnаgemеnt systems. For ехаmрlе, Stаtkrаft's virtuаl рowеr рlаnt in Gеrmаny рroduсеs 10,000 MW+ of еlесtriсity to саtеr to thе еnеrgy demаnd. In раrаllеl, thе significant invеstmеnt in rеnеwаblе еnеrgy рrojесts in Lаtin Amеriса аnd thе Middlе Eаst & Afriса will drivе thе markеt's growth.

Segmentation:

By Offerings 

• Software
• Services

By Application

• Solar PV Systems
• Wind Energy System
• Energy Storage
• Combined Heat & Power Systems
• EV Charging Solutions

By End User

• Residential
• Commercial
• Industrial

By Region

North America

• USA

• Canada

• Mexico

Europe

• France

• UK

• Spain

• Germany

• Italy

• Rest of Europe

Asia Pacific

• China

• Japan

• India

• South Korea

• Rest of Asia Pacific

Middle East & Africa

• GCC

• South Africa

• Rest of the Middle East & Africa

South America

• Brazil

• Argentina

• Rest of South America

What to Expect from Industry Profile?

1. Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the DERMS market in the world.

2. Use the PORTER’s Five Forces analysis to determine the competitive intensity and therefore market attractiveness of the Global DERMS market.

3. Leading company profiles reveal details of key DERMS market players’ global operations, strategies, financial performance & recent developments.

4. Add weight to presentations and pitches by understanding the future growth prospects of the Global DERMS market with forecast for the decade by both market share (%) & revenue (USD Million).

FAQ’s

1) What are the major factors driving the growth of the Global DERMS Market?

• Rising Integration of Renewable Energy Sources are the major factors driving the growth of the Global DERMS Market

2) What would be the CAGR of the Global DERMS Market over the forecast period?

• The Global DERMS Market is poised to grow at a CAGR of 18.43% from 2024 to 2032.

3) Which region will provide more business opportunities for the growth of the Global DERMS Market in the future?

• The Asia Pacific region is expected to create more opportunities in the market.

4) Who are the major players dominating the Global DERMS Market?

• Siemens (Germany), Schneider Electric (France), General Electric Company (US), Mitsubishi Electric Power Products Inc. (US), Hitachi Ltd. (Switzerland), Emerson Electric Co. (US), Itron Inc. (US), Enel Spa (Italy), Open Access Technology International Inc. (US), EnergyHub (US), Honeywell International Inc. (US), Oracle (US), AutoGrid Systems, inc. (US), Eaton (Ireland), CGI Inc. (Canada), Others.

5) What are the segments in the Global DERMS Market?

• By End User, By Offering, By Application, are the industry key segments considered for research study.

6) What is the estimated market revenue for the Global DERMS Market in 2032?

The estimated revenue for the Global DERMS Market in 2032 is USD 1,867.21 Million.