Global Intelligent Energy Storage Systems Market Flourishes as Awareness Regarding Energy Conservation Rises
Transparency Market Research has published a new report "Intelligent Energy Storage Systems Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024" to its report store.
Albany, NY -- (SBWire) -- 07/08/2016 --The global market for intelligent energy storage systems has been analyzed in a detailed market research report by Transparency Market Research. The report is titled "Intelligent Energy Storage Systems Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024."
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One of the most influential factors working in the favor of adoption of intelligent energy systems is the rising awareness about the need for reducing electricity consumption. Renewable energy is not yet commercialized enough and major technologies are also not mature enough to be used on a larger scale in the consumer market. Thus, conservation and proper usage of the energy resources presently at our disposal is the most practical option to deal with the impending issue of energy shortage. Government and private efforts aimed at raising awareness on this front is expected to provide a significant boost to the global market for intelligent energy solutions on a global front.
The market is also driven by the decline in prices of batteries and other elements central to a typical energy storage system over the past few years. Rapid technological advancements in battery technology have also significantly boosted the global market for intelligent energy storage systems in the past few years, and will continue to drive the market over the forecast period.
From a geographic perspective, the market for intelligent energy storage systems has been examined for North America, Asia Pacific, Latin America, Eastern Europe, Western Europe, and Middle East and Africa. Of these, the market in North America is presently the leading regional market for the global intelligent energy storage systems market.
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The early adoption of Internet of Things (IoT), especially in the U.S., is the major factor that has driven the market for intelligent storage systems in North America. Rapid progress in the field of smart grid infrastructure in the U.S. in the past few years has also helped the intelligent energy storage systems market prosper in North America in the past few years.
Europe and Asia Pacific are expected to provide attractive growth opportunities for the global intelligent energy storage systems market over the forecast period. The dynamically progressing and economically stabilizing economies in Asia Pacific, such as India and China, are expected to be the leading consumers of intelligent energy storage systems over the forecast period. Government initiatives to encourage energy conservation initiatives in these countries will work in favor of intelligent energy storage systems in these countries.
Some of the major drivers in the market are Alevo, NEC Energy Solutions, Beacon Power, azeti Networks, CODA Energy, and Green Charge Networks.
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