Global Distributed Energy Resource Management System Market to reach USD 1292.8 Million by 2027

INDORE, India - June 5, 2020 - PRLog -- Global Distributed Energy Resource Management System Market is valued approximately USD 402.3 Million in 2019 and is anticipated to grow with a healthy growth rate of more than 15.9% over the forecast period 2020-2027. The Distributed Energy Resource Management System (DERMS) is a platform which helps distribution system operators (DSO) to manage their grids that are mainly based on distributed energy resources (DER). An outage management system (OMS) or a supervisory control and data acquisition (SCADA) system is usually needed to provide all DERMS functionality and is used to organize the operation of the aggregated DER within a power grid. The decline in traditional sources of energy such as fossil fuels and growing environmental concerns as CO2 emission is stimulating the demand for renewable energies and technologies that can monitor, control, and manage the supply of energy efficiently. Thus, advancement in technologies introduced distributed energy resources (DER) technology comprises multiple generators and storage components. Therefore, the need for distributed energy resource management systems is dictated by end-users to essentially optimize the energy and act towards the preservation of the environment. The increasing share of renewable power generation and growing government mandates and updated policies are expected to boost the market size in the forecast period. For instance: according to International Renewable Energy Agency (IRENA), the total share of renewable energy generation capacity rose from 33.3% in 2018 to 34.7% in 2019. Also, it is stated by Centre for Climate and Energy Solutions (C2ES) that renewables made up 26.2 percent of global electricity generation in 2018 and are expected to increase up to 45 percent by 2040, due to rising consumption from solar, wind, and hydropower. Moreover, increasing smart grid and micro grid deployments is the factor creating a lucrative opportunity for the growth of market over the forecast years. However, regulatory issues related to different distributed energy resources and High initial investment is hampering the growth of market.


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