Market research Future Virtual Power Plant Market 2018. | Page 4

Virtual Power Plant market Research Report- Forecast to 2023
Market Research Analysis: -
Demand response and Industrial segment is expected to grow at the highest CAGR and have the
largest market share.
Global Virtual Power Plant market has been segmented based on technology, end-user, and region. Demand
response segment by technology currently holds the largest share and is expected to hold its dominance in
the virtual power plant market during the forecast period. Demand response is highly lucrative for
investment due to everlasting benefits for end-users and improving the energy efficiency of the grid. Hence,
demand response is expected to show high growth rate. However, the industrial, by end-user held the largest
market share in 2016 and is expected to hold the largest share over the forecast period. Industrial end-users
are among the highest adopters of the virtual power plant setups and services and thus provide great
contribution to the market expansion. The peak load of the electricity is the highest in various industries
such as petroleum, paper & pulp, and chemical among others, which has created a productive market for
virtual power plant in industrial sector.
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