Global Virtual Power Plant Market Statistics Research report presents an in-depth analysis of the Virtual Power Plant Market size, growth, share, segments, manufacturers, and forecast, competition landscape and growth opportunity. This report also focuses on key trends, market drivers, challenges, standardization, deployment models, future road-map, revenue and forecast. Moreover, this research report categorizes the global Virtual Power Plant Market by companies, region, type and end-user industry.
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The global Virtual Power Plant Market size is expected to grow from USD 0.88 billion in 2021 to reach USD 6.47 billion by 2028, exhibiting a CAGR of 32.89% during the forecast period. The increasing acceptance of innovative technologies such as cloud platforms and the internet of things (IoT) applications in the power industry will have an excellent impact on the market’s development, states Fortune Business Insights™, in its report titled “Virtual Power Plant Market, 2021-2028.” The market size stood at USD 0.71 billion in 2020.
A virtual power plant is a cloud-powered distributed power plant that combines distributed energy resource capacities to trade, generate, and sell power sources in the market. The rising demand for reliable power sources and increasing acceptance of IoT and cloud platforms are likely to foster the product’s demand. Further, the decline in solar power generation and energy storage costs and power generation mix is likely to foster market development in the upcoming years.
This Report Answers the Following Questions:
- What are the Virtual Power Plant Market growth drivers, hindrances, and dynamics?
- Which companies would lead the market by generating the largest revenue?
- How will the companies surge the processes adoption amid the COVID-19 pandemic?
- Which region and segment would dominate the Virtual Power Plant Market in the coming years?
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List of Top Key Manufacturers for Virtual Power Plant Market:
- ABB (Switzerland)
- Siemens (Germany)
- General Electric (U.S.)
- AGL Energy (Australia)
- Schneider Electric (France)
- Enel X (U.S.)
- Cisco Systems, Inc. (U.S.)
- Bosch (Germany)
- IBM (U.S.)
- Hitachi, Ltd. (Japan)
- Mitsubishi Heavy Industries (Japan)
- Next Kraftwerke (Germany)
- AutoGrid Systems, Inc. (U.S.)
- Blue Pillar, Inc. (U.S.)
- Enbala Power Networks, Inc. (U.S.)
Drivers & Restraints
Rising Emphasis on Distributed Generation to Push Growth
Energy is created and delivered utilizing small-scale technologies such as wind turbines, solar cells, geothermal systems, and micro hydropower plants in today’s decentralized energy distribution networks worldwide. During power outages and periods of high energy demand, distributed generating systems, especially when coupled with heat and power and emergency generators, can be utilized to provide electricity. Increased attention on decarbonization, electrification, digitalization, and improvements in power production and storage technologies are major reasons hastening the transition to distributed energy. Due to the cost-effectiveness of renewable technology, distributed generating is becoming more popular. Furthermore, local and state government policies and laws support the greater deployment of renewable technologies because of their benefits, such as cheaper CAPEX and energy security driving the virtual power plant market growth.
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Key Questions Answered in this Report
1) What were the pre and post-business impacts of COVID-19 on the Virtual Power Plant Market?
2) What is the market size, share of the Virtual Power Plant Market?
3) Who are the top market players in Virtual Power Plant Market?
4) What will be the future market of the Virtual Power Plant Market?
- Virtual Power Plant Market Size & Forecast by Revenue | 2022−2028
- Virtual Power Plant Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Market Segmentation – A detailed analysis by product, by types, end-user, applications, segments, and geography
- Competitive Landscape – Top key vendors and other prominent vendors
Key Questions Answered in the Report
- What is the expected global Virtual Power Plant Market size in terms of value during the period 2022-2028?
- What is the expected future scenario and revenue to be generated by different types of solutions including software and platform, hardware, and support services?
- What is the expected future scenario and revenue to be generated by the technology segment, including guidance technology, sensing technology, variable rate application technology, and data analytics and intelligence?
- Which region is the largest market for the global Virtual Power Plant Market?
- What is the expected future scenario and revenue to be generated by different regions and countries in the global Virtual Power Plant Market such as North America, South America, Europe, the U.K., China, Asia-Pacific and Japan, and Middle East and Africa?
- What is the competitive strength of the key players in the global Virtual Power Plant Market based on the analysis of their recent developments, product offerings, and regional presence?
- Which are the different consortiums and associations present in the global Virtual Power Plant Market, and what are their roles, focus areas, and key functions in this market?
- Where do the key Virtual Power Plant Market companies lie in their competitive benchmarking, compared on basis of market coverage and market potential?
- What does the technology ecosystem of market solutions constitute?
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