North America Distributed Energy Resources Management System (DERMS) Market, By Technology (Solar PVWind, CHP (Combined Heat & Power), Energy Storage and Other), Software (Analytics, Virtual Power Plants and Management & Control), End-User (Infrastructure, Power, Oil & Gas, Automotive, Aerospace, Mining, Marine, Water & Waste Water, Food & Beverages, Semi-Conductors, Pulp & Paper, CPG, HPC, Entertainment, Life Sciences, and Others), Country (U.S., Canada and Mexico) Industry Trends and Forecast To 2028.
Market Analysis and Insights: North America Distributed Energy Resources Management System (DERMS) Market
North America distributed energy resources management system (DERMS) market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing with a CAGR of 16.9% in the forecast period of 2021 to 2028 and is expected to reach USD 622.10 million by 2028. Increasing demand for DERMS for cost reduction is boosting the market.
A distributed energy resources management system (DERMS) is a platform that helps distribution system operators (DSO) to manage their grids which are based on distributed energy resources (DER). In addition, it is a software platform used to organize the operation of the aggregated DER within a power grid. The usual DERMS application is found at the distribution grid level. The system typically requires a more full-fledged integration of various other systems such as a distribution management system (DSM) for integrating it with a utility. Furthermore, an outage management system (OMS) or a supervisory control and data acquisition (SCADA) system is usually needed to provide all DERMS functionality.
The growing demand for renewable energy generation is the major that is expected to drive the market. On the other hand, regulatory issues related to DERs may act as restraining factors. The growing awareness for clean energy and renewables proves to be an opportunity. However, the threat to utilities from reductions in revenue could prove to be a challenge.
The distributed energy resources management system (DERMS) market report provides details of market share, new developments, and product pipeline analysis, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the distributed energy resources management system (DERMS) market scenario contact Data Bridge Market Research for an Analyst Brief. Our team will help you create a revenue impact solution to achieve your desired goal.
North America Distributed Energy Resources Management System (DERMS) Market Scope And Market Size
North America distributed energy resources management system (DERMS) market is segmented based on the technology, software, and end-user. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of technology, the distributed energy resources management system (DERMS) market is segmented into solar PV, wind, CHP (combined heat & power), energy storage, and others. In 2021, the solar PV segment is expected to dominate the distributed energy resources management system (DERMS) market as it converts sunlight into electricity and is pollution-free. In addition, it is available in flexible sizes, and government regulations supporting it are driving the solar PV segment's growth.
- On the basis of software, the distributed energy resources management system (DERMS) market is segmented into analytics, virtual power plants, and management & control. In 2021, the analytics segment is expected to dominate the distributed energy resources management system (DERMS) market as it is used to forecast the demand of energy needed in a particular area and know the sources from which this energy is generated.
- On the basis of end-user, the distributed energy resources management system (DERMS) market is segmented into infrastructure, power, oil & gas, automotive, aerospace, mining, marine, water & wastewater, food & beverages, semi-conductors, pulp & paper, CPG, HPC, entertainment, life sciences, and others. In 2021, the infrastructure segment is expected to dominate the distributed energy resources management system (DERMS) market as solar PV is easier to install on infrastructures and has relatively low maintenance.
North America Distributed Energy Resources Management System (DERMS) Market Country Level Analysis
North America distributed energy resources management system (DERMS) market is segmented based on the technology, software, and end-user.
The countries covered in North America distributed energy resources management system (DERMS) market report are the U.S., Canada, and Mexico. U.S. dominates the market due to the high demand and major players present for distributed energy resources management systems (DERMS).
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts, and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, the presence and availability of North America brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of sales channels are considered while providing forecast analysis of the country data.
Growing Demand For Renewable Energy Generation Is Boosting The Market Growth Of the North America Distributed Energy Resources Management System (DERMS) Market.
North America distributed energy resources management system (DERMS) market also provides you with detailed market analysis for every country's growth in a particular market. Additionally, it provides detailed information regarding the market players' strategy and their geographical presence. The data is available for the historic period 2010 to 2019.
Competitive Landscape and North America Distributed energy resources management system (DERMS) Market Share Analysis
Distributed energy resources management system (DERMS) market competitive landscape provides details by a competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width, and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the company's focus related to Distributed energy resources management system (DERMS) market.
The major companies which are dealing in the Distributed energy resources management system (DERMS) are General Electric, Siemens, Hitachi ABB Power Grids, COPA-DATA GmbH, Enel X S.r.l. (A subsidiary of Enel Spa), Accenture, AutoGrid Systems, Inc., Doosan GridTech (A subsidiary of Doosan Heavy Industries & Construction Co., Ltd.), ENBALA Power Networks, a Generac company, EnergyHub, ENGIE, Itron Inc., MACH Energy Inc., Open Access Technology International, Inc., Open Systems International, Inc. (A Subsidiary of Emerson Electric Co.), Opus One Solutions, Oracle, PXiSE Energy Solutions (A Subsidiary of Sempra Energy), Schneider Electric, Smarter Grid Solutions, Spirae, LLC, Sunverge Energy Inc., Viridity Energy Solutions Inc. (a Subsidiary of Ormat) and other in domestic players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many contracts and agreements are also initiated by the companies worldwide, which are also accelerating the Distributed energy resources management system (DERMS) market.
For instance,
- In November 2020, Hitachi ABB Power Grids announced that they had signed a 5-year contract with Dubai Electricity and Water Authority (DEWA) to provide energy solutions. Under this agreement, the company will supply, install, test, and commission 15 new substations and refurbish and upgrade 18 existing substations across Dubai. Thus, the company will supply its MicroSCADA solution helping to protect, control, measure and supervise power system
- In October 2020, Snohomish County PUD (SnoPUD) collaborated with Doosan GridTech to integrate two electric vehicle-to-grid chargers within its DERMS. The V2G stations can charge the vehicle and allow for the energy stored to flow back to the grid also provide support during an outage. With this, the company will help customers to maximize the value of owning an electric vehicle.
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