Global Distributed Energy Resource Management System Market worth USD 1100 million : CAGR of 15.2

DALLAS, TEXAS, UNITED STATES, November 1, 2021 /EINPresswire.com/ — Global Distributed Energy Resource Management System market is estimated to grow from USD 390.5 million in 2020 to USD 1100 million by 2027, at a CAGR of 15.2%.

Insufficient centralized electricity supply, a paradigm shift in energy generation toward green technologies, growing awareness about carbon footprint reduction, and altered FIT (Feed in Tariff) pricing are likely to drive market expansion. The expensive initial expenditure is a significant barrier to entry into the market. However, price declines are projected to overcome the constraint in the future years. The rising cost of energy generation is influenced by the depletion of fossil fuels.

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Market Segmentation Analysis

Based on the End user, the market is segmented into Industrial, Commercial, and Residential. Industrial segment has largest market share during the forecast period. The increasing need for power in the industrial sector, as well as the requirement to effectively utilize the power, are driving the expansion of this category. As a result, rising industrial demand is propelling the distributed energy resource management system market.

COVID-19 Impact on the Distributed Energy Resource Management System Market

The current COVID-19 pandemic has had a global impact on the power industry. As a result of the current situation, different device manufacturing companies throughout regions have been forced to shut down their manufacturing facilities and services as countries implemented partial or complete lockdown strategies to deal with the pandemic. The COVID-19 pandemic has cut electricity consumption dramatically, although residential building electricity use has increased. However, governments around the world were forced to restrict commercial activity in order to limit the threat of coronavirus.

Key Players

The key players profiled in Distributed Energy Resource Management System market analysis ABB Ltd, Siemens, Schneider Electric, General Electric, Emerson, Enbala Power Networks, Doosan Gridtech, Inc, Autogrid Systems, Inc, Blue Pillar, Inc,

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Market Segmentation
By End user
• Industrial
• Commercial
• Residential

By Region
• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa

Regional Analysis

Based on Region, the market was studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. North America has dominated the Distributed Energy Resource Management System market in and is likely to continue to be the largest market during the projection period, driven by the United States and Canada, which have over million distributed generation units, driving demand for Distributed Energy Resource Management System.

Despite adequate power generation and transmission and distribution network accessibility, power outages occur in some regions of the region as a result of damage to the power distribution system caused by natural disasters such as flooding and storms.

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