Evolve Business Intelligence has published a research report on the Global Distributed Energy Resource Market, 2023–2033. The global Distributed Energy Resource market is projected to exhibit a CAGR of around 15.63%during the forecast period of 2023 to 2033.
Evolve Business Intelligence has recognized the following companies as the key players in the global Distributed Energy Resource Market: ABB Ltd., Siemens, GENERAL ELECTRIC, Open Access Technology International, Inc., Spirae, Inc., Schneider Electric, Enbala Power Networks, Inc., Doosan Gridtech, Inc., Blue Pillar, Inc., Autogrid Systems, Inc.
More Information: https://evolvebi.com/report/distributed-energy-resource-market-analysis/
Global Distributed Energy Resource Market Highlights
The Global Distributed Energy Resource market is projected to be valued at USD 1.47 Billion by 2033, recording a CAGR of around 15.63% during the forecast period. The Distributed Energy Resource (DER) market refers to a decentralized approach to energy generation, storage, and consumption. It encompasses a diverse range of technologies such as solar PV, wind turbines, battery storage systems, and demand response mechanisms. DERs are typically located close to where energy is used, reducing transmission losses and enhancing grid resilience. They empower consumers to generate their own electricity, participate in energy markets, and optimize energy usage. Key drivers include advancements in technology, policy support for renewable energy integration, and the need for more reliable and sustainable energy solutions in both developed and developing economies.
The COVID-19 pandemic has led to supply chain disruptions leading to supply shortages or lower demand in the Distributed Energy Resource market. The travel restrictions and social-distancing measures have resulted in a sharp drop in consumer and business spending and this pattern is to continue for some time. The end-user trend and preferences have changed due to the pandemic and have resulted in manufacturers, developers, and service providers adopting various strategies to stabilize the company.
Segmental Analysis
The global Distributed Energy Resource market has been segmented based on Technology, Software, End-User
Based on the Technology, the market is segmented based on Solar PV, Energy Storage, Wind, Combined Heat & Power, Others. Energy Storage” solutions typically dominate. Energy storage systems, including batteries and other storage technologies, play a crucial role in enhancing grid stability, integrating intermittent renewable energy sources like solar and wind, and providing flexibility for demand-side management and grid services.
Based on the Software, the market has been divided into Analytics, Management & Control, Virtual Power Plants, Others. Management & Control” software solutions typically dominate. These platforms enable centralized monitoring, optimization, and coordination of diverse DER assets, ensuring efficient operation, grid integration, and participation in energy markets like virtual power plants (VPPs).
Based on End-User, the market has been divided into Industrial, Government & Municipalities, Commercial, Residential, Military, Others. the commercial sector typically dominates. Commercial entities, including businesses, office buildings, retail centers, and hotels, often lead in adopting DER technologies due to cost-saving opportunities, sustainability goals, and the ability to hedge against electricity price volatility.
More Information: https://evolvebi.com/report/distributed-energy-resource-market-analysis/
Regional Analysis
The Distributed Energy Resource market is divided into five regions: North America, Europe, Asia-Pacific, South America, and the Middle East, &Africa. Asia-Pacific dominates the Distributed Energy Resource market due to several factors. With a market share of USD 0.12 billion in 2020, the Asia Pacific region is the largest market for distributed energy resource management systems. The market is driven by the rise in solar and wind power generation as well as the rising need for energy as a result of industrialization throughout Asia Pacific. The North America region has been witnessing remarkable growth in recent years. The distributed energy resource management market in the United States is one of the largest in North America. By 2050, the US has committed to have net zero emissions. To accomplish this sustainable goal, the federal government invests in renewable energy projects at a quick pace.