About Energy Storage Distributed Energy Resource Management System
Energy storage distributed energy resource management system is term as, the solution which control and coordinate different types of distributed resources. The objective of that system is voltage management of the grid and optimization of power within the grid. Local grid load management. There are various benefits of energy storage distributed energy resource management system including they are lower cost energy, they provide system level capacity, they provide operating reserve value, etc. Increasing the investment in smart grids is the key factor for driving the market.
Attributes | Details |
---|
Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Billion) |
CAGR | 19.7% |
Competition among existing players is due to the stiff market share occupied by leading players. The companies are implementing strategic activities such as acquisition and mergers along with collaboration with companies in other industries to help them in improving sustenance and maintaining their competitive advantages. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Energy Storage Distributed Energy Resource Management System market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Schneider Electric, ABB Ltd, Doosan Gridtech, Inc., Autogrid Systems, Inc., Open Access Technology International, Inc., Blue Pillar, Inc., Enbala Power Networks, Inc., Siemens AG, Sunverge Energy, Inc, Spirae, Inc. and General Electric are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Energy Storage Distributed Energy Resource Management System market by , Application (Residential, Commercial & Industrial and Utility-scale) and Region.
On the basis of geography, the market of Energy Storage Distributed Energy Resource Management System has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Technology, the sub-segment i.e. Battery Energy Storage Systems (BESS) will boost the Energy Storage Distributed Energy Resource Management System market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Component, the sub-segment i.e. Hardware (Batteries, Inverters, Energy Management Systems, Others) will boost the Energy Storage Distributed Energy Resource Management System market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Integration of solar PV installation.
Market Growth Drivers:
Increasing Adoption of distributed energy resource management technology. and Increasing participation of residential customer in DER system.
Challenges:
The threat to utilities from reduction in revenue. and Voltage levels- distributed generation sources change the voltage levels of feeders due to change in the direction of load distribution.
Restraints:
Lack of Fuel avaibility or storage. and Rising rest of system cost in solar panels.
Opportunities:
Promotes incorporation demand-side empowerment. and Improving connection cost estimates can develop integrated planning model for energy resource to make photovoltaic system equipment installation more efficient.
Market Leaders and their expansionary development strategies
In August 2021, Mitsubishi electric corporation an electrical and equipment manufacturer company had acquired the UK-based smarter grid solution. In this acquisition, utilities peruse decarbonization goals with the introduction of renewable and clean energy source. and In May 2022, climate AI-pioneer AutoGrid acquired the schneider electric. The acquisition presents that to accelerate energy transition. Enables AutoGrid to expand into new geographies and empower energy companies with globally.
In July 2023, schneider electric, and pacific gas and electric company launched the deployment of distributed energy resource management system on Microsoft azure to more effectively maintain grid reliability and accelerate customer adoption of distributed energy resource such as electric vehicles. and In November 2022, ABB launches ABB ability OPTIMAX, will help hydrogen production companies reduce electricity.
Key Target Audience
Supplier, Manufacturer and Research organization
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.