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Virtual Power Plant Market Trends

  • Report ID: 3033
  • Published Date: Sep 23, 2024
  • Report Format: PDF, PPT

Virtual Power Plant Market Trends

Growth Drivers

  • Rising Demand for Renewable Energy
  • Easy Implementation and Flexibility in Trading in Virtual Power Plants

Restraints

  • High-Frequency Electromagnetic Radiation from Virtual Power Plants
  • Rising Cyber Security Attacks

Virtual Power Plant Market: Key Insights

Base Year

2023

Forecast Year

2024–2036

CAGR

26.9%

Base Year Market Size (2023)

USD 1.44 billion

Forecast Year Market Size (2036)

USD 31.87 billion

Regional Scope
  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
 
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Author Credits:  Dhruv Bhatia


  • Report ID: 3033
  • Published Date: Sep 23, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Increasing demand for renewable energy and easy implementation of virtual power plant is estimated to drive market growth.

The market is anticipated to attain a noteworthy CAGR over the forecast period, i.e., 2021 – 2029.

Growing number of cyber security threats is estimated to hamper the market growth.

Middle East & Africa region is expected to offer more business growth opportunities on the back of emergence of renewable energy projects in the region.

The major players in the market are AutoGrid Systems, Inc., Cisco Systems, Inc., Cpower, Flexitricity Limited, Schneider Electric, and others.
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