Global Market for Distributed Energy Resource Management Technologies to Grow at 16% Compound Annual Growth Rate
Market drivers include proliferation of data and DER, favorable policy and regulation, and cloud computing & SaaS
A new report from Guidehouse Insights analyzes the global market for distributed energy resource (DER) management technologies. The report delineates several categories of DER management technologies to provide a clear picture of the market and vendor landscape for industry stakeholders. Guidehouse Insights classifies solutions into IT/OT systems, asset management and monitoring & control, and DER analytics.
As renewable energy investments continue to expand and grow rapidly across on-grid and off-grid locations, investments in DER management technologies have also gained momentum around the globe. According to a new report from Guidehouse Insights, the global DER management technology market is expected to grow to nearly $24.8 billion in 2030, at a CAGR of 15.9%. Investments in IT/OT systems and DER analytics are expected to account for the majority of global spending given the cost and complexity of sophisticated command and control systems and wide range of analytics applications.
“As nascent technologies, the only consistent definition for DER management technology is a solution that enables a collection of use cases for managing DER,” says Michael Kelly, senior research analyst with Guidehouse Insights. “Software vendors are capitalizing on burgeoning opportunities throughout the space with enhanced offerings targeted at electric utilities, aggregators, project developers, and more.”
Several market drivers are coalescing to increase demand for DER management technologies across global markets. They include proliferation of data and DER, favorable policy and regulation, and cloud computing & SaaS. These drivers are a result of natural market and technology evolution, as well as top-down initiatives by policymakers and utilities to support growth in DER, according to the report.
The report, Market Data: DER Management Technologies, analyzes the market for DER management technologies, including advanced distribution management systems (ADMS), grid- and edge-based distributed energy resource management systems (DERMS), virtual power plants (VPPs), local flexibility market platforms, renewables monitoring & control, and DER analytics. It aims to enable current and prospective electric utilities and service providers to understand the drivers for projected demand and likely investment in DER management solutions and services. The report provides outlook and analysis for five global regions for 2021 through 2030. An executive summary of the report is available for free download on the Guidehouse Insights website.
Contact:
Cecile Fradkin
cfradkin@scprgroup.com
*The information contained in this press release concerning the report, Market Data: DER Management Technologies, is a summary and reflects the current expectations of Guidehouse Insights based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Guidehouse Insights nor Guidehouse undertakes any obligation to update any of the information contained in this press release or the report.