Covina, CA, July 15, 2020 (GLOBE NEWSWIRE) -- The report "Global Distributed Energy Resources (DER) Technology Market, By Technology (Solar PV, Wind, Energy Storage, Combined Heat & Power, and Others), By Software (Analytics, Management & Control, and Virtual Power Plants), By End-user (Government & Municipalities, Industrial, Commercial, Residential, and Military), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) - Trends, Analysis and Forecast till 2029”.
Key Highlights:
- In January 2020, AutoGrid, the market leader in flexibility management software for the energy industry announced a strategic partnership with global energy management and automation specialist Schneider Electric to help energy providers integrate customer-owned or -operated flexible distributed energy resources (DERs) into their distribution management operations.
- In July 2019, ABB introduced its new multi-functional power quality and energy storage solution designed to mitigate a range of power quality problems for electrical networks. ABB Ability enabled multi-functional products improve grid stability, power quality and energy efficiency for increasingly complex grids.
- In February 2017, Spirae and California-based Survalent announced a partnership that aims to improve the energy grid by better adding distributed energy sources such as rooftop solar and small scale wind turbines.
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Analyst View:
In past decades, energy regulation and advances in technology have compelled a substantial growth in the distributed energy resources. The industrial and residential customers are shifting from centralized to de-centralized power generation, thus are boosting the global distribution energy resource technology market. The DERs are affecting the grid reliability and performance, henceforth proceeding the scope of distributed energy resource technology.
Along with increasing the reliability of the distributed energy resource management system it also maintain power quality, reduces the overall cost, decreases losses and ensure safe operation of the grid. Further, with the dropping renewable energy prices, growing environmental concern and favorable government policy are propelling the distribute energy resources technology hence fueling the distributed energy resource technology market.
The residential sector is projected to have high growth rate during the forecasted period due to the reduced cost of DERs such as solar PV and battery storage. Rising number of distributed energy resources is projected to create a significant challenges in the grid, distributed energy resource technology is estimated to be the perfect solution for managing these resources. Manufacturers are investing highly on research and development of sophisticated distributed energy resource technology to control and manage the rising number of distributed energy resources.
Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Global Distributed Energy Resources (DER) Technology Market”, By Technology (Solar PV, Wind, Energy Storage, Combined Heat & Power, and Others), By Software (Analytics, Management & Control, and Virtual Power Plants), By End-user (Government & Municipalities, Industrial, Commercial, Residential, and Military), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) - Trends, Analysis and Forecast till 2029
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Key Market Insights from the report:
The global distributed energy resources (DER) technology market accounted for US$ 52.1 billion in 2019 and is estimated to be US$ 165.2 billion by 2029 and is anticipated to register a CAGR of 12.4%. The market report has been segmented on the basis of technology, software, end-user, and region.
- By technology, the growth of this segment is mainly influenced by growing deployment of increasing solar PV installation in the commercial buildings as well as household sector in North America and other parts of the world. Furthermore, Europe and some countries of Asia-Pacific such as Japan, South Korea, and Australia, also present opportunities due to rise in power de-centralization in these regions.
- By software, the target market is segmented into analytics, management & control, and virtual power plants. The analytics segment is projected to grow at a rate during the forecast period.
- By end-user, the target market is classified into government & municipalities, industrial, commercial, residential, and military.
- By region, The Asia Pacific distributed energy resources (DER) technology market estimates for maximum share to the global market and is accounted to maintain its dominance during the forecast period. Growing demand for electricity, significant regulations and investments in the energy sector coupled with growing purchase power of people in developing countries such as china, Korea, and India is projected to boost the growth of the global market.
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Competitive Landscape:
The prominent player operating in the global distributed energy resources (DER) technology market includes ABB, Siemens AG, Spirae, LLC, GENERAL ELECTRIC, Schneider Electric, Blue Pillar, AutoGrid Systems, Inc., Advanced Microgrid Solutions, Opus One Solutions, and Smarter Grid Solutions.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
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Some Important Points Answered in this Market Report Are Given Below:
- Explains an overview of the product portfolio, including product development, planning, and positioning
- Explains details about key operational strategies with a focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
- Detailed analysis of the market revenue over the forecasted period.
- Examining various outlooks of the market with the help of Porter’s five forces analysis, PEST & SWOT Analysis.
- Study on the segments that are anticipated to dominate the market.
- Study on the regional analysis that is expected to register the highest growth over the forecast period
Key Topics Covered
- Introduction
- Study Deliverables
- Study Assumptions
- Scope of the Study
- Research Methodology
- Executive Summary
- Opportunity Map Analysis
- Market at Glance
- Market Share (%) and BPS Analysis, by Region
- Competitive Landscape
- Heat Map Analysis
- Market Presence and Specificity Analysis
- Investment Analysis
- Competitive Analysis
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