Over the forecast years of 2018-2026, the Asia-Pacific virtual power plant market is estimated to rise with a CAGR of 28.77%. Virtual power plants are primarily used by the power generating and distribution companies to efficiently manage different resources related to generation, storage and demand.
Japan dominated the Virtual power plant market in the Asia-Pacific for the year 2017. The country is promoting the adoption of renewable energy for reducing carbon emission. Also, investment for modernizing the electric grids is expected to augment the growth of VPP market in the country. In India, the growing number of smart grid projects are expected to fuel the demand for energy management solutions. This is likely to boost the virtual power plant market in the country further. The China Virtual power plant market is also enjoying government support for the implementation of virtual power plants. The Australian virtual power plant market is expected to register a significant growth rate over the forecast years.
Companies like Schneider Electric, Hitachi Ltd, Cisco Systems Inc, IBM Corporation, Blue Pillar, Open Access Technology International Inc, Autogrid Systems Inc, Power Analytics Corporation (Causam Energy), Abb Ltd, General Electric, Enbala, and Siemens have their presence in this market.