The North America Distributed Energy Resource Management System Market would witness market growth of 18.7% CAGR during the forecast period (2023-2029).
DERMS is a state-of-the-art system that incorporates solar energy and other distributed energy resources (DERs) into the grid in a seamless manner. When used effectively, these skills provide businesses and their clients with various advantages. It is made up of a number of software management solutions that allow wire operators and distribution services to manage a variety of DERs and so contribute to the immediate management of grid assets.
Additionally, it is described as a control system that enables efficient control of the grid as well as DERs, encompassing capabilities like power quality management, Volt/VAR optimization (VVO), as well as the coordination of DERs dispatch to fulfil operational needs. Additionally, DERMS-controlled grid services are provided by regulating power and voltage along with individual feeders, which has the advantage of providing precise control over a variety of equipment, including smart inverters, capacitor banks, on-load tap changers, customer loads, and voltage regulators (VRegs).
The North America region, especially the United States, is home to 34% of all microgrid projects. This may be explained by the country's aging power mega infrastructure and rising end-user demand for more security and dependability. The need for DERMS is driven by the United States and Canada, which together have numerous distributed generation units and are contributing to the expansion of the regional market. Power outages are brought on in some sections of the region by natural disasters like flooding and storms, despite sufficient power generation as well as the accessibility of transmission & distribution networks. It is believed that the problem can be reduced by using remote power systems, like DERMS, to control distributed energy systems. These factors are propelling the expansion of the regional market.
The US market dominated the North America Distributed Energy Resource Management System Market by Country in 2022 and would continue to be a dominant market till 2029; thereby, achieving a market value of $226,357.9 Thousands by 2029. The Canada market is poised to grow at a CAGR of 21.4% during (2023 - 2029). Additionally, The Mexico market would witness a CAGR of 20.3% during (2023 - 2029).
Based on Offering, the market is segmented into Services and Software (Virtual Power Plant (VPP) Software, Management & Control and Analytics). Based on End User, the market is segmented into Industrial, Commercial and Residential. Based on Application, the market is segmented into Solar PV Units, Energy Storage Systems, Wind Generation Units, Combined Heat & Power Generation Systems, EV Charging Stations and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Worldwide Distributed Energy Resource Management System Market is Projected to reach USD 1.1 Billion by 2029, at a CAGR of 19.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Siemens AG, Schneider Electric SE, General Electric Company, Hitachi, Ltd. (Hitachi Energy Ltd.), Emerson Electric Co., Mitsubishi Electric Corporation, Oracle Corporation, Itron, Inc., Generac Holdings, Inc. and Enel S.p.A.
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