Impact of COVID-19 on Global Virtual Power Plants Market to Achieve a High CAGR Based on Market Research Analysis, Market Trend and Global Forecast 2020-2028 by ABB Ltd., General Electric Company, Siemens AG, AutoGrid Systems

Virtual power plant is a cloud-based distributed power plant that aggregates the capacities of heterogeneous distributed energy resources for the purposes of enhancing power generation, as well as trading or selling power on the electricity market. The need for aggregation of distributed electricity has created increased demand within the global virtual power plant market.

The Virtual Power Plants Market is expected to reach +28% CAGR during forecast period 2020-2028.

The Virtual Power Plants market is expected to boost in the forecast period owing to the increasing adoption of cloud-based solutions by SMEs as well as large enterprises. Moreover, reduced IT involvement and costs for end-users further propel the growth of the Virtual Power Plants market. However, data privacy and security concerns may harm market growth during the forecast period. On the other hand, improvements in machine learning and artificial intelligence offer lucrative growth prospects for the key players operating in the Virtual Power Plants market in the future.

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Virtual Power Plant Key Players Analyzed in Report: ABB Ltd. (Switzerland), Autogrid Systems, Inc. (U.S.), Blue Pillar, Inc. (U.S.), Cisco Systems, Inc. (U.S.), Comverge (U.S.), Cpower Energy Management (U.S.), Enbala Power Networks, Inc. (Canada), Enernoc, Inc. (U.S.), Flexitricity Limited (U.K.), General Electric Company (U.S.), Hitachi, Ltd. (Japan), International Business Machines Corporation (U.S.), Robert Bosch GmbH (Germany), Schneider Electric SE (France), and Siemens AG (Germany).

Market segment by Type, the product can be split into-Distribution Generation, Demand Response, Mixed Asset
Market segment by Application, split into- Commercial, Industrial, Residential
The Increase in smaller power plant installations, are benefitting from new technological developments and business models are declining the economies of the scale. When all power is generated by renewable energy sources, thus would need to produce the electricity demand adapt to the wind and solar power supply. In virtual power plants, clients let their unused assets such as data center or base station reserve power to be used to balance the grid while they are not needed for business use.

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Additionally, it offers various internal and external attributes such as, Virtual Power Plants which are driving or restraining the flow of the businesses. This comprehensive analysis ponders the approaches to discover the global opportunities to get customers rapidly, which helps to develop the businesses. Recent and upcoming global opportunities have been analyzed across several global regions, such as North America, Latin America, Asia-Pacific, Europe, and India.
Opportunities
Growing demand for electric vehicles
Expansion of smart grids

Highlights of the report:
• A whole backdrop analysis, which includes an assessment of the parent market
• Important changes in market dynamics
• Market division up to the second or third level
• Historical, current, and projected size of the market from the standpoint of both value and volume
• Reporting and assessment of recent industry developments
• Market shares and strategies of key players
• Emerging niche segments and regional markets
• An objective valuation of the trajectory of the market Recommendations to companies for strengthening their foothold in the market

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