BOULDER, Colo.--(EON: Enhanced Online News)--A new report from Navigant Research examines the global market for energy storage systems (ESSs) with a focus on aggregation, asset management, and grid services, providing forecasts for software vendor revenue through 2025 for seven major world regions.
“Two of the major barriers to the energy storage industry’s growth are high upfront costs for systems and the lack of knowledge among potential customers about the benefits of the technology”
As the energy storage industry matures, ESSs will be required to provide a number of different services depending on grid and market conditions. Software platforms are emerging as an option to provide the sophisticated analytical and system control capabilities that ensure an ESS maintains peak performance for as long as possible. Click to tweet: According to a new report from @NavigantRSRCH, cumulative vendor revenue for energy storage software is expected to total $16.2 billion from 2016 to 2025.
“Two of the major barriers to the energy storage industry’s growth are high upfront costs for systems and the lack of knowledge among potential customers about the benefits of the technology,” says Alex Eller, research analyst with Navigant Research. “Software platforms can help overcome both barriers by accurately modeling optimal system specifications, operating characteristics, and potential return on investment.”
According to the report, these capabilities can reduce costs by streamlining installation and avoiding the chance of using an improperly designed system. In addition, ESS software helps customers and other stakeholders understand what is possible, how an ESS can solve the problems they face, and what level of return on investment to expect.
The report, Energy Storage Software: Aggregation, Asset Management, and Grid Services, analyzes the global market for ESSs, with a focus on aggregation, asset management, and grid services. The report examines the business models and pricing strategies for software vendors across the three major grid-tied energy storage market segments: utility-scale, commercial and industrial (C&I), and residential. Global market forecasts of software vendor revenue for both upfront system deployment and annual platform access/maintenance fees are provided through 2025 for all seven major world regions. The report also examines the key technologies related to ESSs, as well as the competitive landscape. An Executive Summary of the report is available for free download on the Navigant Research website.
About Navigant Research
Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Energy Technologies, Utility Transformations, Transportation Efficiencies, and Buildings Innovations sectors. Additional information about Navigant Research can be found at www.navigantresearch.com.
Navigant Consulting, Inc. is a specialized, global professional services firm that helps clients take control of their future. Navigant’s professionals apply deep industry knowledge, substantive technical expertise, and an enterprising approach to help clients build, manage and/or protect their business interests. With a focus on markets and clients facing transformational change and significant regulatory or legal pressures, the Firm primarily serves clients in the healthcare, energy and financial services industries. Across a range of advisory, consulting, outsourcing, and technology/analytics services, Navigant’s practitioners bring sharp insight that pinpoints opportunities and delivers powerful results. More information about Navigant can be found at navigant.com.
* The information contained in this press release concerning the report, Energy Storage Software: Aggregation, Asset Management, and Grid Services, is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.