Cumulative Vendor Revenue for Energy Storage Software is Expected to Total $16.2 Billion from 2016 to 2025
Energy storage software platforms can help overcome industry barriers by accurately modeling optimal system specifications and operating characteristics
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.
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.