The global virtual power plant market is expected to reach a market size of USD 3,724.2 million by 2028 at a relatively robust CAGR over the forecast period, according to latest analysis by Emergen Research. This growth can be attributed to factors such as increasing initiatives of various governments regarding adoption of renewable sources of energy, which is driving renewable power generation activities. Rapid urbanization and rising focus on decarbonization, along with the rapid digitalization trend, are other factors driving adoption of virtual power plants, and the trend is expected to continue during the forecast period. Increasing energy consumption is another factor driving demand for virtual power plants to monitor and increase production of energy from renewable sources. Technological advancements on the traditional power grid for development of a new smart decentralized grid with bi-directional energy is contributing to growth of the virtual power plants market. The global shift towards renewable and distributed power generation is another factor driving demand for virtual power plants. Rising demand for a low-carbon future and smaller and decentralized power generation units is expected to continue to present future growth opportunities for players operating in the global virtual power plant market. Leveraging of clean sources of power generation, which are cost-effective, such as solar, wind, and hydro, is contributing significantly to growth of the virtual power plant market, and the trend is expected to continue over the forecast period. Rising need to reduce dependence on fossil-fuel-based power generation is another factor projected to drive demand for virtual power plants.
The latest research report is dubbed as the first document encompassing the latest information about the Virtual Power Plant market that has been gravely affected by the COVID-19 pandemic. The global health crisis poses significant threats to the future growth of the Virtual Power Plant industry. The report assesses the profound changes in this business setting caused by the outbreak and considers the prominent market aspects that have been severely disrupted by the pandemic.
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The study outlines the rapidly evolving and growing market segments along with valuable insights into each element of the industry. The industry has witnessed the entry of several new players, and the report aims to deliver insightful information about their transition and growth in the market. Mergers, acquisitions, partnerships, agreements, product launches, and joint ventures are all outlined in the report.
The leading market contenders listed in the report are:
ABB, AutoGrid Systems, Inc., Blue Pillar, Cisco Systems, Inc., Cpower Energy Management, Enel X, General Electric, Hitachi, Ltd., IBM, Next Kraftwerke
Research Report on the Virtual Power Plant Market Addresses the Following Key Questions:
- Who are the dominant players of the Virtual Power Plant market?
- Which regional market is anticipated to have a high growth rate over the projected period?
- What consumer trends and demands are expected to influence the operations of the market players in the Virtual Power Plant market?
- What are the key growth drivers and restraining factors of the Virtual Power Plant market?
- What are the expansion plans and strategic investment plans undertaken by the players to gain a robust footing in the market?
- What is the overall impact of the COVID-19 pandemic on the Virtual Power Plant market and its key segments?
Browse Full Report Description + Research Methodology + Table of Content + Infographics@ https://www.emergenresearch.com/industry-report/virtual-power-plant-market
Emergen Research has segmented the global Virtual Power Plant market on the basis of type, type of care, and region
Segments Covered in this report are:
End-use Outlook (Revenue, USD Million; 2021–2028)
- Residential
- Industrial and Commercial
Technology Outlook (Revenue, USD Million; 2021–2028)
- Distributed Generation
- Demand Response
- Mixed Asset
Regional Outlook (Revenue, USD Million; 2021–2028)
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East Africa
- Saudi Arabia
- UAE
- Rest of MEA
- North America
In conclusion, the Virtual Power Plant Market report is an exhaustive database that will help readers formulate lucrative strategies. The Virtual Power Plant Market report studies the latest economic scenario with value, drivers, constraints, growth opportunities, challenges, demand and supply ratio, production capacity, import/export status, growth rate, and others. Additionally, the report also undertakes SWOT Analysis and Porter’s Five Forces Analysis to study the leading companies.
How will this Report Benefit you?
A 250-page report from Emergen Research includes 194 tables and 189 charts and graphics. Anyone in need of commercial, in-depth assessments for the global Virtual Power Plant market, as well as comprehensive market segment analysis, can benefit from our new study. You can assess the whole regional and global market for Virtual Power Plant with the aid of our recent study. To increase market share, obtain financial analysis of the whole market and its various segments. We think there are significant prospects in this industry for rapidly expanding energy storage technology. Look at how you may utilise the current and potential revenue-generating prospects in this sector. The research will also assist you in making better strategic decisions, enabling you to build growth strategies, strengthen competitor analysis, and increase business productivity.
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