DERMS Market Size to Reach $1.44 billion by 2029 | MarketsandMarkets

DELRAY BEACH, Fla., Dec. 6, 2024 /PRNewswire/ -- The global DERMS Market is anticipated to grow from estimated USD 0.61 billion in 2024 to USD 1.44 billion by 2029, at a CAGR of 18.8% during the forecast period. The market for DERMS is thus growing rapidly. Some of the key factors driving the market are increased adoption of renewable energy sources such as solar and wind power, which are considered significant for the improvement of grid reliability and efficiency. Such a rise is being driven by increased environmental concerns, advances in technology, and government policies that encourage clean energy solutions. Meanwhile, significant investment in smart grid infrastructure and the increasing digitization of energy systems would further spur market growth.

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Industrial, by End-User 

Industrial end-user sector dominates the DERMS market, outweighing the commercial and residential segments due to the sheer volume of power consumed in this sector and its critical need for efficient energy management. Manufacturing, mining, and heavy engineering industries require reliable cost-effective power solutions to continue operations at reduced energy costs. Benefits for industries include the optimization of energy consumption, resource integration from renewable sources, and stability of the grid. All this is important in minimizing downtime and ensuring sustainability. Moreover, industrial installations generally have larger budgets and infrastructure readiness to implement DERMS than the commercial and residential sectors, which makes them the leaders in this market.

Solar PV, by Application

The Application segment is further segmented into 6 types: Solar PV Systems, Wind Energy Systems, Energy Storage, Combined Heat & Power Systems, EV Charging Solutions, Other Applications. Solar PV segment is expected to drive the market. The large-scale adoption of solar energy around the world has made it a major source of renewable resources. Their scalability, cost-effectiveness, and clean mode of energy generation have made them highly popular across industrial, commercial, and residential sectors. Also, DERMS play a critical role in optimizing the integration of solar PV systems into the grid, managing variability in generation, and ensuring grid stability. Other drivers of solar PV dominance in the DERMS market include supportive government policies, declining solar panel costs, and the increasing demand for decentralized energy solutions.