VPP Software as a Service Market - Utilities and Power Grid Operators Adopts Growth

 Rashmi Patil

A virtual power plant is a system that integrates several types of power sources to provide reliable overall power supply. A virtual power plant includes a central IT control system and distributed energy resources. Energy operators are adopting VPP software as a service, as it is more reliable, accurate, and it offers highly optimized planning and dispatch.

Rising adoption of virtual power network (VPP) across the globe is a key factor driving the VPP software as a service market. Utilities and power grid operators are adopting VPP, as if offers smart solution for operation management. The virtual power plant (VPP) is a network of decentralized power generating units.

The VPP is designed to release the load on the grid by smartly distributing the power generated by the individual units during the peak load period. Big data architecture, advanced analytics, and machine learning (ML) are expected to create significant opportunities to the market during the forecast period.

Demand for VPP software as a service is expected to rise during the forecast period, as it reduces deployment costs owing to its modular architecture and easy configurability. Lack of awareness about virtual power plant (VPP) is projected to hamper the market during the forecast period.

Get an exclusive sample of this report @ https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=65636

Based on region, the global VPP software as a service market can be segmented into North America, South America, Europe, Asia Pacific, and Middle East & Africa. North America accounted for a prominent share of the market in 2018, owing to high consumption of energy for industrial activities. The U.S. accounts for a major share, in terms of revenue, of the VPP software as a service market in North America. The U.S. is home to prominent petroleum and natural gas energy plants.

Domain: Business
Category: Management
Posted By: Rashmi Patil and Contact Rashmi Patil

Recent Press Releases

Automotive Fabric Market to Witness ...

Automotive fabrics are used to enhance the safety and interiors of the vehicles. They possess properties such as resistance to cold cracking and UV rays. Moreover, they are easy to

20 September, 2019

Automotive Door Panel Market to Witn...

Automotive door panel provides stylish, aerodynamic looks to the vehicle coupled with protection and safety to the passengers travelling within. Door panels typically combine style

20 September, 2019

Digital Therapeutics Market Business...

The Digital Therapeutics Market by application is segmented into diabetes, cardiovascular diseases, and central nervous system diseases, respiratory diseases, smoking cessation, mu

20 September, 2019