2021-26 Global distributed energy resource management system compound annual growth rate of 21%

According to a report released by Markets and Markets, an international market research institution, the global distributed energy resource management system market is estimated to reach $286 million in 2021, and this data is expected to increase to $750 million by 2026, with a compound annual growth rate of 21.
2%
during the period.

Innovative government support for residential buildings and increasing electricity consumption are driving the distributed energy resource management system market
.

The ongoing COVID-19 pandemic has affected the global power industry
.
The decrease in business activities further negatively impacted
the distributed energy management system solution in the short term.

Increasing demand for energy production using renewable energy sources during the forecast period, while various renewable energy policies supported by the government will boost the market
.
In 2020, annual new renewable energy capacity added nearly 280 GW, the highest year-on-year increase
since 1999.
Despite the strong impact of the pandemic on global supply chains, new installed capacity of renewable energy in 2020 increased by more than 45% compared to 2019, which is expected to drive the demand for the
distributed energy resource management system market.

At the same time, increasing investments in grid digitalization through the implementation of advanced communication technologies will drive the growth
of the distributed energy management system market.
Over the next decade, China plans to invest $6 trillion in infrastructure as part of
its urbanization plan.
Private and public investment in infrastructure urbanisation in the UK is estimated to be worth around $375 billion
.
Thus, these investments create opportunities
for the distributed energy resource management system market.

The initial phase of the deployment of a distributed energy resource management system is capital-intensive?
。 The role of local and national governments in infrastructure transformation is critical
.
The technology initially requires huge investments to build transmission networks
between customers and smart grids.
In addition, effective deployment requires strong coordination across customary organizational boundaries, significant process changes, and rigorous governance
.
High post-deployment operating and maintenance costs are also a major concern
for utility providers.
Therefore, high installation and maintenance costs are the major factors
restraining the development of this market.

On the other hand, distributed energy resource management systems make extensive use of information and communication technologies, automated control capabilities, advanced metering and energy storage technologies to meet electricity demand
.
Data from these devices is vulnerable to cyberattacks and data breaches
.
Preventive measures require a significant investment of money, which can negatively
impact the implementation of new technologies such as smart grids.
Therefore, cybersecurity issues related to the energy sector as well as distributed energy resources are a significant challenge
for the industry.

The distributed energy management systems market software market is expected to grow
at the fastest rate by component during the forecast period.
The growth of the software components market is attributed to continuous monitoring of predictive solutions, management of communication devices, and real-time configuration data
.

Based on application industry, the market has been segmented into solar photovoltaic installations, wind turbines, energy storage systems, cogeneration systems, electric vehicle charging stations, and others
.
It is expected that from 2021 to 2026, the growth rate of solar PV will be higher than that of other market
segments.

For end-users, industry is expected to grow
at the fastest rate during the forecast period.
The industrial sector will have the largest market size
during the forecast period.
The growth of this segment is driven by the growing demand for electricity in the industrial sector and the need to use it efficiently
.

From the perspective of regional markets, North America is expected to be the largest market
during the forecast period.
North America, Europe, South America, Asia Pacific, Middle East, and Africa are the leading regions
for distributed energy resource management system market research.
North America is expected to be the largest market during the forecast period, mainly driven by the significant growth in electricity demand in North America, and its power sector faces challenges
in meeting energy efficiency goals, complying with federal carbon policies and integration.
As a result, investments in distributed energy resource management systems are increasing to overcome these challenges
.