Distributed Energy Resource Management Market Share

A smart grid represents an advanced electricity network enabling two-way communication between electricity providers and end users. It functions by monitoring, controlling, and analyzing electricity load to effectively manage the demand and supply of electricity, resulting in cost reduction and energy conservation. Smart grids integrate renewable energy resources and employ various operational and energy measurement systems, including smart meters and appliances. This integration enhances the efficiency and flexibility of the electricity grid network, facilitating the seamless incorporation of renewable energy sources.
Globally, there is a concerted focus on implementing smart grids, driven by their numerous advantages. These advantages include the reduction of peak load, ensuring reliable power supply, real-time monitoring capabilities, effective demand-side management, and a consequential reduction in carbon emissions. Smart grids typically operate autonomously, thereby contributing to mitigating grid disturbances in conventional grid networks. In the United States, the Department of Energy anticipates an annual investment of USD 13.8 billion in smart grid infrastructure by 2024. Notably, the UAE has taken significant steps in this direction, launching a plan in October 2018 to install 270,000 smart meters under its Smart Applications via Smart Grid and Meters project, signaling a commitment to the growth of smart grids and associated technologies.
Governments and authorities across various countries, including the UK, India, China, and Germany, are actively engaged in the development of smart grid projects. The adoption of smart grids is instrumental in meeting the escalating energy demand, reducing transmission and distribution (T&D) losses, and bridging the gap between electricity demand and supply. As smart grids continue to evolve, the increased development and installation of these systems are expected to drive the demand for Distributed Energy Resource Management Systems (DERMS). DERMS play a crucial role in controlling, maintaining, and optimizing the grid network, especially in the context of integrating diverse energy sources. Consequently, the growing emphasis on smart grid development presents a significant opportunity for key players in the global distributed energy resource management system market. The interplay between smart grids and DERMS is poised to shape the future of the energy landscape, fostering sustainability and efficiency in power generation and distribution.