Transparency Market Research has issued a new report called Intelligent energy storage systems—top emerging trends & new technologies research 2016–2024
Intelligent Energy Storage Systems Market: Drivers and Restraints
The major driver propelling the global intelligent energy storage systems market is the increasing awareness about the importance of reducing the consumption of electricity. Since renewable energy has not yet been commercialized to the optimum level, conservation of the available energy has emerged as the best way to deal with the current energy shortage. This is likely to remain an influential factor in the development of the intelligent energy storage systems market in the near future.
Decline in the prices of batteries and other necessary components has also boosted the availability of intelligent energy storage systems in the last few years. Technological advancement in battery technology has also given a boost to the market.
The increasing demand for smart infrastructure and smart electronics and the rising incorporation of various Internet of Things (IoT) technologies have benefitted the intelligent energy storage systems market. Users are becoming increasingly aware about the availability and benefits of smart energy management systems due to the increasing popularity of the IoT, which has helped increase the demand for intelligent energy storage systems.
Intelligent energy storage systems are also scalable, which adds to their appeal. Individual users can install intelligent energy storage systems in their residence, industries can apply them to manufacturing plants or even across the supply chain, and utilities can incorporate them in power grids. This has given a boost to the adoption of intelligent energy storage systems and will continue to be a major driver for the market in the coming years.