A comprehensive overview of the Virtual Power Plant market is recently added by UnivDatos Market Insights to its humongous database. The Virtual Power Plant market report has been aggregated by collecting informative data of various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Virtual Power Plant market. The Virtual Power Plant market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the Virtual Power Plant market at the global and regional levels. Virtual Power Plant market is expected to grow at a CAGR of --% from 2021-2027 to exceed US$ -- billion by 2027.
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Market Overview
The virtual power plant market is expected to grow with a significant CAGR of --% from US$ -- billion in 2020 to US$ -- billion in 2027. The transforming energy infrastructure is giving rise to various new and complementing concepts. Distributed Energy Resource Management (DERMS) and Virtual Power Plants are two such new concepts. They are software’s that help in balancing the utilities requirements with the energy that is generated by the distributed energy sources (DERs) at the distribution end. One key difference between the two is that VPPs focus on the consumer where DERMS on the network utility. Virtual Power plants are used for active power control that are not highly dependent on specific locations of individual assets like feeders of circuits to provide grid services. They can provide system-wide benefits which are associated with increased or decreased generation or load and are mainly installed in large areas such as counties, cities, states, or RTO/ISO areas. AutoGrid, a company based in Redwood, California operating in 12 countries with 5,000 MW under contract have realized that VPPs are now becoming commodity items and thus can be purchased through Amazon Web Services.
COVID-19 Impact
The recent covid-19 pandemic in 2019 took the world by a storm. The pandemic brought the world to a standstill. All industries have suffered some form of loss due to the pandemic. In addition to this the pandemic has also cost many lives. Till date there have been 177,470,620 covid-19 cases in the world and 3,839,931 deaths. Most nations around the world were affected by the pandemic which not only took lives but also took away jobs. The pandemic caused a huge economic burden all around the world with most industries bearing some form of loss. The Virtual Power Plant industry also saw a slowdown during the pandemic as the industries were shut and production was affected.
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Virtual Power Plant market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
By Technology, the market is primarily segmented into
· Distribution Generation
· Demand Response
· Mixed Asset
The Demand Response segment generated revenue of US$ -- billion in 2020 and is expected to grow at a CAGR of --% during the forecast period to reach a market valuation of US$ -- billion by 2027F.
By End-User, the market is primarily segmented into
· Commercial
· Industrial
· Residential
The end-user segment generated revenue of US$ -- billion in 2020 and is expected to grow at a CAGR of --% during the forecast period to reach a market valuation of US$ -- billion by 2027F.
Virtual Power Plant Market Geographical Segmentation Includes:
· North America
· Europe
· Asia-Pacific
· Rest of the World
Based on the estimation, the Asia-Pacific region dominated the Virtual Power Plant market with almost --% revenue share in 2020. Asia-Pacific also saw the highest CAGR of --% in the forecast period due to the increasing demand of electricity in rural areas and thus more renewable energy generation.
The major players targeting the market includes
· Next Kraftwerke
· EnerNOC
· Schneider Electric
· AGL Energy
· Flexitricity
· Siemens
· Cummins
· GE
· ABB
· Comverge
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analysing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Virtual Power Plant market. The leading players have been analysed by using research methodologies for getting insight views on global competition.
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Key questions resolved through this analytical market research report include:
· What are the latest trends, new patterns, and technological advancements in the Virtual Power Plant market?
· Which factors are influencing the Virtual Power Plant market over the forecast period?
· What are the global challenges, threats, and risks in the Virtual Power Plant market?
· Which factors are propelling and restraining the Virtual Power Plant market?
· What are the demanding global regions of the Virtual Power Plant market?
· What will be the global market size in the upcoming years?
· What are the crucial market acquisition strategies and policies applied by global companies?
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