Virtual power plant market,Size,Share,Trend,Growth

Market Research Report

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1.1    Types of Virtual Power Plant Solutions
                   1.1.1    Technical Virtual Power Plants (TVPP)
                   1.1.2    Commercial Virtual Power Plants (CVPP)
          1.2    Use Cases of Virtual Power Plant
                   1.2.1    Energy Storage System Mechanism
                   1.2.2    Demand-Response Control Mechanism
                   1.2.3    Distributed Energy Resource Management
                   1.2.4    Asset Remote Control Aggregator

2.1    Market Drivers
                   2.1.1    Increasing Demand for Decentralized Power Generation
                   2.1.2    Increasing Demand for Renewable Sources of Energy
                   2.1.3    Favorable Government Initiatives
          2.2    Market Restraints
                   2.2.1    High Initial Investment
                   2.2.2    Privacy and Security Risk
          2.3    Market Opportunities
                   2.3.1    Integration of Blockchain in Virtual Power Plant
                   2.3.2    Emerging Market of Electric Vehicles
                   2.3.3    Increasing Necessity for Smart Grids

3.1    Key Market Developments and Strategies
                   3.1.1    Partnerships, Collaborations, and Joint Venture
                   3.1.2    Mergers and Acquisitions
                   3.1.3    Product Launches and Developments
                   3.1.4    Business Expansions and Contracts
                   3.1.5    Others (Awards and Recognitions)
          3.2    Competitive Positioning of Key Players in Virtual Power Plant Market
          3.3    Competitive Benchmarking
                   3.3.1    By Technology
                   3.3.2    By End User
                   3.3.3    By Region

4.1    Role of Internet of Things in Virtual Power Plant Market
          4.2    Stakeholder Analysis
                   4.2.1    Transmission System Operators
                   4.2.2    Distribution System Operators
                   4.2.3    Energy Management and Automation Companies
                   4.2.4    Aggregators
                   4.2.5    End Users (Industrial, Commercial, and Residential)
          4.3    Emerging Trends in the Virtual Power Plant Market
                   4.3.1    Growing Role of Big Data Analytics in the Power Industry
                   4.3.2    Rise of Aggregators in the Ecosystem
                   4.3.3    Market Consolidation
          4.4    Investment and Funding Landscape
          4.5    Regulatory Landscape
                   4.5.1    North America
                               4.5.1.1    U.S.
                               4.5.1.2    Canada
                   4.5.2    Europe
                               4.5.2.1    Germany
                   4.5.3    Asia-Pacific
                               4.5.3.1    Australia
                               4.5.3.2    China
          4.6    Consortiums and Associations

5.1    Assumptions and Limitations for Analysis and Forecast of the Global Virtual Power Plant Market
          5.2    Market Overview
          5.3    Distributed Energy Generation System
          5.4    Energy Storage Systems

6.1    Market Overview
          6.2    Demand Response
          6.3    Distributed Generation
          6.4    Mixed Asset

7.1    Market Overview
          7.2    Industrial
          7.3    Commercial
          7.4    Residential

8.1    North America
                   8.1.1    North America (by End User)
                               8.1.1.1    The U.S.
                               8.1.1.2    Canada
                               8.1.1.3    Rest-of-North America: Adoption Scenario
          8.2    Europe
                   8.2.1    Europe (by End User)
                   8.2.2    Europe (by Country)
                               8.2.2.1    U.K.
                               8.2.2.2    Germany
                               8.2.2.3    France
                               8.2.2.4    Italy
                               8.2.2.5    Denmark
                               8.2.2.6    Rest –of- Europe
          8.3    Asia-Pacific
                   8.3.1    Asia-Pacific (by End User)
                   8.3.2    Asia-Pacific (by Country)
                               8.3.2.1    Japan
                               8.3.2.2    Australia
                               8.3.2.3    China
                               8.3.2.4    South Korea
                               8.3.2.5    Rest-of-Asia-Pacific
          8.4    Rest-of-the-World (RoW)
                   8.4.1    RoW (by End User)

9.1    ABB Ltd
                   9.1.1    Company Overview
                   9.1.2    Role of ABB Ltd. in Virtual Power Plant Market
                   9.1.3    Financials
                   9.1.4    SWOT ANALYSIS
          9.2    AutoGrid Systems, Inc
                   9.2.1    Company Overview
                   9.2.2    Role of Autogrid Systems, Inc in Virtual Power Plant Market
                   9.2.3    SWOT Analysis
          9.3    Advanced Microgrid Solutions, Inc.
                   9.3.1    Company Overview
                   9.3.2    Role of Advanced Microgrid Solutions, Inc. in Virtual Power Plant Market
                   9.3.3    SWOT Analysis
          9.4    CISCO Systems Inc.
                   9.4.1    Company Overview
                   9.4.2    Role of Cisco Systems Inc. in Virtual Power Plant Market
                   9.4.3    Financials
                   9.4.4    Key Insights about the Financial Health of the company
                   9.4.5    SWOT Analysis
          9.5    energy & meteo systems
                   9.5.1    Company Overview
                   9.5.2    Role of energy &meteo systems In Virtual Power Plant Market
                   9.5.3    SWOT Analysis
          9.6    Enbala Power Networks Inc.
                   9.6.1    Company Overview
                   9.6.2    Role of Enbala Power Networks Inc.  in Virtual Power Plant Market
                   9.6.3    SWOT Analysis
          9.7    Enel X North America, Inc.
                   9.7.1    Company Overview
                   9.7.2    Role of Enel X North America, Inc.  in Virtual Power Plant Market
                   9.7.3    SWOT Analysis
          9.8    General Electric
                   9.8.1    Company Overview
                   9.8.2    Role of General Electric in Virtual Power Plant Market
                   9.8.3    Financials
                   9.8.4    Key Insights about the Financial Health of the Company
                   9.8.5    SWOT Analysis
          9.9    Hitachi, Ltd.
                   9.9.1    Company Overview
                   9.9.2    Role of Hitachi Ltd. in Virtual Power Plant Market
                   9.9.3    Financials
                   9.9.4    Key Insights about the Financials Health of the Company
                   9.9.5    SWOT Analysis
         9.10   Itron Inc.
                   9.10.1    Company Overview
                   9.10.2    Role of Itron Inc. in Virtual Power Plant Market
                   9.10.3    Financials
                   9.10.4    SWOT ANALYSIS
         9.11   Mitsubishi Electric Corporation
                   9.11.1    Company Overview
                   9.11.2    Role of Mitsubishi Electric Corporation in Virtual Power Plant Market
                   9.11.3    Financials
                   9.11.4    SWOT ANALYSIS
         9.12   Next Kraftwerke
                   9.12.1    Company Overview
                   9.12.2    Role of Next Kraftwerke in Virtual Power Plant Market
                   9.12.3    SWOT Analysis
         9.13   Siemens AG
                   9.13.1    Company Overview
                   9.13.2    Role of Siemens AG in Virtual Power Plant Market
                   9.13.3    Financials
                   9.13.4    SWOT Analysis
         9.14   Schneider Electric
                   9.14.1    Company Overview
                   9.14.2    Role of Schneider Electric in Virtual Power Plant Market
                   9.14.3    Financials
                   9.14.4    Key Insights about the Financial Health of the company
                   9.14.5    SWOT Analysis
         9.15   Tesla, Inc.
                   9.15.1    Company Overview
                   9.15.2    Role of Tesla Inc. in Virtual Power Plant Market
                   9.15.3    Financials
                   9.15.4    SWOT ANALYSIS

10.1    Report Scope
            10.2    Virtual Power Plant Market Research Methodology
                       10.2.1    Assumptions
                       10.2.2    Limitations
                       10.2.3    Primary Data Sources
                       10.2.4    Secondary Data Sources
                       10.2.5    Data Triangulation
                       10.2.6    Market Estimation and Forecast

Table 1.1:    Segregation of Virtual Power Plant by Different Types
Table 1.2:    Functions of Technical Virtual Power Plants
Table 1.3:    Key Players Providing Technical Virtual Power Plants
Table 1.4:    Entities of Commercial Virtual Power Plants
Table 2.1:    Impact Analysis of Drivers
Table 2.2:    List of Investors Promoting Decentralized Energy System
Table 2.3:    Levelized Cost of Electricity (LCOE) for Distributed Energy Sources
Table 2.4:    Initiatives by Governments of Various Countries to Promote Virtual Power Plants
Table 2.5:    Impact Analysis of Restraints
Table 2.6:    Initiatives for the Advancement of the U.S. Grid Network
Table 3.1:    Competitive Benchmarking of Aggregators in Virtual Power Plant Market
Table 3.2:    Competitive Benchmarking of Energy Management and Automation Companies in Virtual Power Plant Marke
Table 4.1:    Overview of Stakeholder Analysis
Table 4.2:    List of Key European Transmission System Operators by Countries
Table 4.3:    Recent Developments by the Energy Management and Automation Companies in Virtual Power Plant Market
Table 4.4:    Key Features of Some of the Leading Aggregators
Table 4.5:    Opportunities of Big Data Analytics in Virtual Power Plants
Table 4.6:    Functions of Aggregators in the Electrical Ecosystem
Table 4.7:    Benefits of Demand Side Management
Table 4.8:    Venture Capital Investments in Virtual Power Plant Market
Table 4.9:    Key Regulatory Bodies in the U.S. Power Industry
Table 4.10:    Key Regulatory Bodies in Canada Power Industry
Table 4.11:    Key Regulatory Bodies in German Power Industry
Table 4.12:    Key Regulatory Bodies in the Australian Power Industry
Table 4.13:    Key Regulatory Bodies in the China Power Industry
Table 4.14:    Examples of Some Associations, and Consortiums
Table 5.1:    Global Virtual Power Plant Market (by Source), $Million 2018-2024
Table 5.2:    Regulatory Policies to promote Distributed Generation
Table 5.3:    Applications of Energy Storage Systems in the Power Supply Network
Table 6.1:    Global Virtual Power Plant Market (by Technology), $Million, 2018-2024
Table 6.2:    Features of Demand Response Mechanism for Virtual Power Plants
Table 6.3:    Demand Response Programs in the U.S.
Table 6.4:    Key Players Providing Demand Response Virtual Power Plants
Table 6.5:    Features and Advantages of Distributed Generation Technology for Virtual Power Plant
Table 6.6:    Features of Mixed Assets Technology for Virtual Power Plant
Table 7.1:    Global Virtual Power Plants Market (by End User), $Million, 2018-2024
Table 7.2:    Product Portfolio of Key Industrial Virtual Power Plants consumers
Table 8.1:    Global Virtual Power Plant Market (by Region), 2018-2024, $Million
Table 8.2:    North America in Virtual Power Plant (by End User), 2018-2024, $Million
Table 8.3:    North America in Virtual Power Plant Market (by Country), 2018-2024, $Million
Table 8.4:    Demand-Response Programs in the U.S.
Table 8.5:    Peak Demand Reduction in Various Demand-Response Programs
Table 8.6:    Comparison of Electricity Prices during Peak and Off- Peak hours in Canada, 2018
Table 8.7:    Europe Virtual Power Plant Market (by End User), 2018-2024, $Million
Table 8.8:    Europe Virtual Power Plants Market (by Country), 2018-2024, $Million
Table 8.9:    Comparison of Coal Consumption Across Various Sectors in 2016 and 2017
Table 8.10:    Energy Efficient Investments made by Italian government pertaining to Residential and Industrial consumers
Table 8.11:    Virtual Power Plant Installations in Italy
Table 8.12:    Virtual Power Plant Installations by Key Players
Table 8.13:    Asia-Pacific Virtual Power Plants Market (by End User), 2018-2024, $Million
Table 8.14:    Asia-Pacific Virtual Power Plants Market (by Country), 2018-2024, $Million
Table 8.15:    Virtual Power Plant Installations in Japan
Table 8.16:    Australia Government Initiatives for Energy Conservation
Table 8.17:    Virtual Power Plant Initiatives and Advancements in South Korea
Table 8.18:    RoW Virtual Power Plant Market (by End User), 2018-2024, $Million
Table 9.1:    ABB Ltd.: Product Portfolio
Table 9.2:    Autogrid Systems, Inc: Product Portfolio
Table 9.3:    Advanced Microgrid Solutions Inc: Product Portfolio
Table 9.4:    Cisco Systems Inc.: Product Portfolio
Table 9.5:    energy & meteo systems: Product Portfolio
Table 9.6:    Enbala Power Networks Inc.: Product Portfolio
Table 9.7:    Enel X North America, Inc.: Product Portfolio
Table 9.8:    General Electric: Product Portfolio
Table 9.9:    Hitachi Ltd.: Product Portfolio
Table 9.10:    Itron Inc.: Product Portfolio
Table 9.11:    A: Product Portfolio
Table 9.12:    Next Kraftwerke: Product Portfolio
Table 9.13:    Siemens AG: Product Portfolio
Table 9.14:    Schneider Electric: Product Portfolio
Table 9.15:    Tesla Inc.: Product Portfolio

Figure 1:    Technological Transformation of the Power Industry
Figure 2:    Factors Affecting the Global Virtual Power Plant Market
Figure 3:    Global Virtual Power Plant Market Snapshot
Figure 4:    Global Virtual Power Plant Market (by Source Type), 2019-2024, ($Million)
Figure 5:    Global Virtual Power Plant Market by End User, 2019 and 2024
Figure 6:    Regional Virtual Power Plant Market Snapshot
Figure 1.1:    Functions of Commercial Virtual Power Plants
Figure 1.2:    Energy Storage System Mechanism
Figure 1.3:    Demand-Response Control Mechanism
Figure 1.4:    Distributed Energy Resource Management
Figure 1.5:    Asset Remote Control Aggregator
Figure 2.1:    Market Dynamics
Figure 2.2:    Advantages of Using Blockchain in Virtual Power Plant
Figure 3.1:    Strategies Adopted by the Key Players (January 2016 – April 2019)
Figure 3.2:    Share of Key Market Strategies and Developments (January 2016 – April 2019)
Figure 3.3:    Partnerships, Collaborations, and Joint Ventures Share (by Companies)
Figure 3.4:    Mergers and Acquisitions Share (by Companies)
Figure 3.5:    Product Launches and Developments Share (by Companies)
Figure 3.6:    Business Expansions and Contracts Share (by Companies)
Figure 3.7:    Competitive Positioning of Market Players
Figure 3.8:    Virtual Power Plant Technologies Provided by the Virtual Power Plant Players
Figure 3.9:    End Users Catered by Virtual Power Plant Players
Figure 4.1:    IoT-Enabled Virtual Power Plant
Figure 4.2:    Key Stakeholders of Virtual Power Plant Market
Figure 4.3:    Role of Distribution System Operator due to the Deployment of Distributed Energy Resources
Figure 4.4:    Market Strategies and Offering by Aggregators
Figure 4.5:    Application of Virtual Power Plant for Residential, Commercial, and Industrial End Users
Figure 4.6:    Advantages of Using Big Data Analytics for Virtual Power Plant
Figure 4.7:    Leading Aggregators in Different Countries
Figure 4.8:    Investments in Virtual Power Plant Sector
Figure 5.1:    Overview of a Virtual Power Plant
Figure 5.2:    Distributed Energy Generation System in Virtual Power Plants Market, 2018-2024
Figure 5.3:    Energy Storage Systems in Virtual Power Plant Market, 2018-2024
Figure 6.1:    Benefits of Different Technology-Based Virtual Power Plant
Figure 6.2:    Demand Response Technology-Based Virtual Power Plant Market, 2018-2024
Figure 6.3:    Distributed Generation Technology-Based Virtual Power Plants Market, 2018-2024
Figure 6.4:    Operation of Mixed Assets Technology-Based Virtual Power Plant
Figure 6.5:    Mixed Asset Technology-Based Virtual Power Plants Market, 2018-2024
Figure 7.1:    Major End Users for Virtual Power Plants
Figure 7.2:    Virtual Power Plant Market for Industrial Sector, 2018-2024
Figure 7.3:    Commercial Virtual Power Plant Market, 2018-2024
Figure 7.4:    Overview of Residential Virtual Power Plant
Figure 7.5:    Residential Virtual Power Plants Market, 2018-2024
Figure 8.1:    Global Virtual Power Plant Regional Market Snapshot
Figure 8.2:    North America Virtual Power Plant Market, 2018-2024, $Million
Figure 8.3:    U.S. Electricity Generation (by Sector) in 2018
Figure 8.4:    The U.S. Virtual Power Plants Market, 2018-2024, $Million
Figure 8.5:    Energy Mix of Canada, 2016
Figure 8.6:    Canada Virtual Power Plant Market, 2018-2024, $Million
Figure 8.7:    Europe Virtual Power Plant Market, 2018-2024, $Million
Figure 8.8:    The U.K. Virtual Power Plant Market, 2018-2024, $Million
Figure 8.9:    Germany Virtual Power Plant Market, 2018-2024, $Million
Figure 8.10:    Energy Mix of France, 2018
Figure 8.11:    France Virtual Power Plant Market, 2018-2024, $Million
Figure 8.12:    Italy Virtual Power Plant Market, 2018-2024, $Million
Figure 8.13:    Denmark Virtual Power Plant Market, 2018-2024, $Million
Figure 8.14:    Rest–of-Europe in Virtual Power Plant Market, 2018-2024, $Million
Figure 8.15:    Asia-Pacific Virtual Power Plants Market, 2018-2024, $Million
Figure 8.16:    Japan Virtual Power Plant Market, 2018-2024, $Million
Figure 8.17:    Australia in Virtual Power Plant Market, 2018-2024, $Million
Figure 8.18:    China Virtual Power Plant Market, 2018-2024, $Million
Figure 8.19:    South Korea Virtual Power Plant Market, 2018-2024, $Million
Figure 8.20:    Rest–of-Asia-Pacific Virtual Power Plant Market, 2018-2024, $Million
Figure 8.21:    RoW Virtual Power Plants Market, 2018-2024, $Million
Figure 9.1:    Segmentation of Key Companies Profiled
Figure 9.2:    ABB Ltd: Overall Financials, 2016-2018
Figure 9.3:    ABB Ltd.: Net Revenue by Operating Segment, 2016-2018
Figure 9.4:    ABB Ltd.: Net Revenue by Regional Segment, 2016-2018
Figure 9.5:    ABB Ltd.: SWOT Analysis
Figure 9.6:    Autogrid Systems, Inc: SWOT Analysis
Figure 9.7:    Advanced Microgrid Solutions: SWOT Analysis
Figure 9.8:    Cisco Systems Inc.: Overall Financials, 2016-2018
Figure 9.9:    Cisco Systems Inc.: Net Revenue by Business Segment, 2016-2018
Figure 9.10:    Cisco Systems: Net Revenue (by Region), 2016-2018
Figure 9.11:    Research and Development: Cisco Systems – 2016 to 2018
Figure 9.12:    Cisco Systems Inc.: SWOT Analysis
Figure 9.13:    energy & meteo systems: SWOT Analysis
Figure 9.14:    Enbala Power Networks Inc.: SWOT Analysis
Figure 9.15:    Enel X North America, Inc.: Net Revenue by Regional Segment, 2018
Figure 9.16:    Enel X North America, Inc.: SWOT Analysis
Figure 9.17:    General Electric: Overall Financials, 2016-2018
Figure 9.18:    General Electric: Net Revenue by Business Segment, 2016-2018
Figure 9.19:    General Electric: Net Revenue by Regional Segment, 2016-2018
Figure 9.20:    General Electric: Research and Development: 2016-2018
Figure 9.21:    General Electric: SWOT Analysis
Figure 9.22:    Hitachi: Overall Financials, 2015-2017
Figure 9.23:    Hitachi Ltd.: Net Revenue by Operating Segment 2015-2017
Figure 9.24:    Hitachi ltd.: Net Revenue by Regional Segment 2015-2017
Figure 9.25:    Research and Development-2015 to 2017
Figure 9.26:    Hitachi Ltd.: SWOT Analysis
Figure 9.27:    Itron Inc: Overall Financials, 2015-2017
Figure 9.28:    Itron Inc.: Net Revenue by Operating Segment, 2015-2017
Figure 9.29:    Itron Inc.: Net Revenue by Regional Segment, 2015-2017
Figure 9.30:    Itron: SWOT Analysis
Figure 9.31:    Mitsubishi Electric Corporation: Overall Financials, 2016-2018
Figure 9.32:    Mitsubishi Electric Corporation.: Net Revenue by Operating Segment, 2016-2018
Figure 9.33:    Mitsubishi Electric Corporation.: Net Revenue by Regional Segment, 2016-2018
Figure 9.34:    Mitsubishi Electric Corporation: SWOT Analysis
Figure 9.35:    Next Kraftwerke: SWOT Analysis
Figure 9.36:    Siemens AG: Overall Financials, 2016-2018
Figure 9.37:    Siemens AG: SWOT Analysis
Figure 9.38:    Schneider Electric: Overall Financials, 2016-2018
Figure 9.39:    Schneider Electric: Net Revenue by Business Segment, 2016-2018
Figure 9.40:    Schneider Electric: Net Revenue by Regional Segment, 2016-2018
Figure 9.41:    Research and Development: Schneider Electric – 2016 to 2018
Figure 9.42:    Schneider Electric: SWOT Analysis
Figure 9.43:    Tesla Inc.: Overall Financials, 2016-2018
Figure 9.44:    Tesla Inc.: Net Revenue by Operating Segment, 2016-2018
Figure 9.45:    Tesla Inc.: SWOT Analysis
Figure 10.1:    Virtual Power Plant Market Scope
Figure 10.2:    Report Methodology
Figure 10.3:    Primary Interviews Breakdown, by Company, Designation and Region
Figure 10.4:    Sources of Secondary Research
Figure 10.5:    Data Triangulation
Figure 10.6:    Top-Down Bottom-Up Approach for Market Estimation

Key Questions Answered in this Report:

•   What is the global virtual power plant market size in terms of revenue from 2018-2024, and what is the expected growth rate during the forecast period 2019-2024?
•   What is the revenue generated by different types of virtual power plants based on technologies such as demand response, distributed generation, and mixed assets?
•   What is the revenue generated by virtual power plant in different end users such as industrial, commercial, and residential at a global and regional level?
•   What is the market size and what are the various market opportunities of virtual power plant across different regions?
•   What are the major driving forces that are expected to increase the demand for the global virtual power plant market during the forecast period?
•   What are the emerging market trends and technologies global virtual power plant market?
•   What are the major challenges inhibiting the growth of the global virtual power plant market?
•   Who are the major stakeholders in terms of their contribution and impact in the virtual power plant ecosystem?
•   What kind of new strategies are adopted by the existing market players to expand their market position in the industry?
•   What is the competitive strength of the key players in the virtual power plant market on the basis of analysis of their recent developments, product offerings, and regional presence?
•   What is the regulatory landscape in different regions for virtual power plant?

Report Description

Scope of the Market Intelligent on the Global Virtual Power Plant Market

The virtual power plant market research provides a detailed perspective regarding the technologies used, its value and estimation, among others. The purpose of this market analysis is to examine the virtual power plant market in terms of factors driving the market, trends, technological developments, and funding scenario, among others.

The report further takes into consideration the market dynamics and the competitive landscape along with the detailed financial and product contribution of the key players operating in the market. The virtual power plant market report is a compilation of different segments including market breakdown by source, technology, end user, and region.

Market Segmentation

The virtual power plant is based on various technologies which include demand response, distributed energy generation units, and mixed assets. Demand response accounted for the largest share in the market as a result of the increasing demand for continuous power supply worldwide. During the forecast period, mixed assets technology-based virtual power plant is expected to display the highest growth owing to the increasing demand for prosumers and bidirectional flow of electricity in the supply chain to meet the electricity demand.

The emerging trends of the virtual power plant market vary across different regions. In 2018, North America was at the forefront of the market, with huge market concentration in the U.S. During the forecast period, Asia-Pacific region is expected to flourish as one of the most lucrative markets for virtual power plant. Rising demand for electricity generation from renewable energy sources and low grid strength drive the growth of the virtual power plant market. Regions such as South America and Africa are also expected to exhibit significant growth opportunities for virtual power plant due to the increased optimism in the economic conditions in these countries.

Key Companies in the Virtual Power Plant Market

The prominent players in the virtual power plant market include Schneider Electric, ABB Ltd, Cisco Systems, General Electric Company, and Siemens AG, Mitsubishi Electric Corporation, Hitachi Ltd, Tesla Inc., Itron Inc., Enel X Nsorth America, Next Kraftwereke, AutoGrid Systems Inc., Advanced Microgrid Solutions Inc., Enbala Power Networks, and energy & meteo systems.

Market Overview

Virtual Power Plant Market Forecast, 2019-2024

According to a new market intelligence report by BIS Research titled ‘Global Virtual Power Plant Market - Analysis and Forecast, 2019-2024’, the virtual power plant market is expected to reach $4,502.5 million by 2024. Market growth is expected to be driven by the gradually growing affinity for reducing the electricity demand as well as the rising concern for sustainable power generation.

High growth in the global market in the coming future is expected to be driven by rising awareness among governments of various countries about the need to mitigate power outages while also making attempts to preserve the environment. The growing awareness in the market concerning the opportunities in renewable energy and battery storage systems has stimulated large-scale investments in the sector over the last decade.

The increasing demand for power generation from renewable sources of energy across the globe has propelled the need for virtual power plants. Moreover, there is an increased concern for decentralized power generators in the electricity distribution supply chain to reduce the electricity demand. The growth of the market is likely to be aided by an increasing demand for decentralized power generation, growing demand for renewable sources of energy, and favorable government initiatives to mitigate power outages.

Expert Quote on Global Virtual Power Plant Market

"Distributed generation, demand response, and mixed assets are the major technologies used by the virtual power plant solution providers for grid optimization and aggregation of distributed energy resources. In 2018, demand-response technology-based virtual power plant accounted for more than 60% of the total virtual power plant market. During the forecast period, mixed assets technology-based virtual power plant is expected to display the highest growth of 33.09% owing to the increasing concerns over continuous source of power supply for bidirectional flow of electricity."

Global Virtual Power Plant Market – Analysis and Forecast, 2019-2024

Focus on Source, Technology (Distributed Generation, Demand Response, Mixed Asset), End User (Industrial, Commercial, Residential), Stakeholder Analysis, and Regulatory Landscape

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