What Is The Definition Of The Global Distributed Energy Resources Management System (DERMS) Market?
A distributed energy resources management system (DERMS) is a software system that manages and optimizes the operation of distributed energy sources such as solar panels, wind turbines, batteries, and demand response systems. It is employed to effectively oversee and synchronize decentralized energy sources to improve grid reliability, maximize economic gains, and reduce environmental footprints.
Distributed Energy Resources Management System (DERMS) Global Market Report 2024 provides data on the global distributed energy resources management system (derms) market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The distributed energy resources management system (derms) market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
How Are The Global Distributed Energy Resources Management System (DERMS) Market Size And Growth Rates Projected To Evolve?
The distributed energy resources management system (DERMS) market has experienced rapid growth, rising from $0.81 billion in 2023 to $0.95 billion in 2024, with a CAGR of 16.3%. This growth is attributed to the increasing penetration of renewable energy, smart grid investments, and supportive government policies. The market is expected to reach $1.75 billion by 2028, with a CAGR of 16.6%, driven by decarbonization efforts, rising energy demand, and IoT adoption. Emerging trends include smart grid technologies, product launches, and advancements in digital infrastructure.
What Are The Essential Drivers Behind The Growth Of The Distributed Energy Resources Management System (DERMS) Market?
The increasing adoption of renewable energy sources is expected to drive the growth of the distributed energy resources management system (DERMS) market. Renewable energy sources, like solar and wind power, are gaining traction due to environmental concerns, cost competitiveness, and technological advancements. DERMS optimize the integration and control of various energy sources to improve grid efficiency and support renewable energy production. For instance, the U.S. Energy Information Administration projected that solar power generation would increase by 75% by 2025, and wind power generation would grow by 11% in the same period. This shift toward renewable energy is fueling the growth of the DERMS market.
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How Is The Global Distributed Energy Resources Management System (DERMS) Market Divided Into Key Segments?
The distributed energy resources management system (DERMS) market covered in this report is segmented –
1) By Software: Virtual Power Plant (VPP), Management And Control, Analytics
2) By Application: Solar, Energy Storage, Wind, Electric Vehicle (EV) Charging Stations, Other Applications
3) By End-User: Residential, Commercial, Industrial And Utilities
What Trends Are Reshaping The Future Of The Distributed Energy Resources Management System (DERMS) Market?
The distributed energy resources management system (DERMS) market is evolving with advanced platforms that optimize the integration and management of distributed energy resources (DERs). DERMS platforms provide software solutions for coordinating energy distribution. In February 2022, Swell Energy, a U.S.-based energy management company, launched GridAmp, a DERMS platform that integrates solar and battery storage into virtual power plants. This platform employs machine learning and optimization algorithms to maximize utility and customer benefits, enhancing renewable energy generation, storage, and consumption across multiple markets.
What Is The Fastest Growing Region In The Distributed Energy Resources Management System (DERMS) Market?
North America was the largest region in the distributed energy resources management system (DERMS) market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the distributed energy resources management system (DERMS) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
