A recent report published by Infinium Global Research on virtual power plant market provides an in-depth analysis of segments and sub-segments in the global as well as regional virtual power plant market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional virtual power plant market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global virtual power plant market. According to the report, the global virtual power plant market is projected to grow at a CAGR of 26.3% over the forecast period of 2019-2025.
Energy utilities are developing towards greater reliance on flexibility to respond to an increasing supply and demand difference. Distributed energy generation becomes a major trend in many countries. The fast upward saturation of Distributed Energy Resources (DER) and the ongoing trend towards a more competitive electricity market requires new technologies and policies to handle both emerging technical and economic issues. In order to handle distributed generation and to intensify its visibility within power markets, numerous researchers use the idea of a virtual power plant (VPP). A virtual power plant has an objective of releasing pressure on grids with the help of intelligent power distribution during peak hours. Power traders can employ the live data produced for improving trades and forecasts of renewable energies.
Increasing demand for renewable energy in the power generation the sector is the major growth factor of the virtual power plant market. Furthermore, the factors such as changes in the dynamic of power grids from central to distributed and controlling costs and easy accessibility of energy storage are also driving the growth of the market. The growing demand for power through a reliable power source and the decreasing costs of solar generation and energy storage is fueling the market growth. However, health concerns over high-frequency human contact of electromagnetic and radio waves hinder the potential of the market. Moreover, an emergent shift towards electric vehicles and the development of smart grids are anticipated to provide growth opportunities to the market players.
Geographically, Asia-Pacific dominates the global virtual power plant market due to the growth in energy demand from developing countries. North America is the second largest market for virtual power plant due to the rise in emphasis on the utilization of renewable energy. The United States is projected to drive the market and witness high demand for virtual power plant owing to the expanding capacity of renewable power projects along with the development of a smart grid network equipped with VPP technology in the country.
The report on global virtual power plant market covers segments such as technology, and end user. On the basis of technology, the sub-markets include distribution generation, demand response, and mixed asset. On the basis of end user, the sub-markets include commercial, industrial, and residential.
The report provides profiles of the companies in the market such as Siemens AG, ABB Ltd., Schneider Electric SE, EnerNOC, Inc., Comverge, Inc., Limejump, Flexitricity, AGL Energy, AutoGrid Systems, Inc., and other companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of virtual power plant market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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