Market Size in 2022 | Market Forecast in 2030 | CAGR (in %) | Base Year |
---|---|---|---|
USD 10 Billion | USD 16 Billion | 5.7% | 2022 |
FrequentlyAsked Questions
A distributed energy resource management system also referred to as DERMS is a tool that helps distribution system operators effectively handle their power grids that are based on distributed energy resources. Furthermore, these systems help public utilities efficiently manage distribution grids with a slew of connected distributed energy generation tools.
The global Distributed Energy Resource Management System Market is projected to expand over 2023-2030 owing to a surge in population across the globe resulting in the necessity of a huge power supply, thereby increasing the demand for renewable energy and thus translating into massive penetration of distributed energy resource management system in the energy & power sector.
According to study, the global Distributed Energy Resource Management System Market size was $10 billion in 2022 and is projected to reach $16 billion by the end of 2030.
The global Distributed Energy Resource Management System Market is anticipated to record a CAGR of nearly 5.7% from 2023 to 2030.
The North American Distributed Energy Resource Management System industry is set to register humungous growth over the upcoming years owing to increase in the demand for power supply in countries such as the U.S. and Canada. Furthermore, rise in allocation of funds for distributed energy resource management systems and need for complying with carbon guidelines of various states of the U.S. will proliferate the size of the growth of the regional market.
The global Distributed Energy Resource Management System Market is led by players like Itron, ABB Ltd., Siemens, Schneider Electric SE, General Electric Corporation, ENGIE, Emerson Electric Co., Oracle Corporation, Generac Holdings Inc., Spirae, LLC, Sunverge Energy Inc., Mitsubishi Electric Corporation, Opus One Solutions, Viridity Energy Solutions, Inc., Hitachi, Ltd., Doosan Heavy Industries & Construction, Kitu System, PXiSE Energy Solutions, LLC, Blue Pillar, and Enel S.p.A.
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