Power storage systems provide power continuously and safely, and their rechargeable types must be able to supply power during power outages, emergencies, and peak loads. With the increase in population and electronic devices and the uninterrupted demand for electricity, the importance of these storage systems has been highlighted so much that many companies are designing batteries using newer technologies through which renewable energy can be stored.
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Market / Industry segment of battery energy storage
| Base Year | Market size(B$) | Duration(YEAR) | CAGR(%) | Source Name |
| 2020 | 2.9 | 5 | 32.80% | Globe news wire |
| 2019 | 3.4 | 8 | 27.20% | Grand view research |
| 2019 | 3.69 | 8 | 32.10% | verified market research |
| 2020 | 2.9 | 5 | 32.80% | Engerati |
| 2019 | 2.194 | 6 | 21.05% | PR news wire |
Influencing factors that change the market size of autonomous
The size of the market value changes under the influence of many factors; the increase and decrease in the rate of these influential factors leads to changes in the value of the market size, which is provided by direct and reverse drivers in the market of battery energy storage.
Direct drivers:
- Increasing the number of electronic devices
- Population growth
- Continuous increase in electricity demand
Reverse drivers:
- Short lifespan of storage systems
- High cost of production
This market may also be threatened by the following risks:
In all different markets and industries, risk is always one of the factors that business founders should be sufficiently aware of. The first step is risk assessment is identification of risks in the market in order to perform risk management. The market of battery energy storage may also be threatened by the following risks:
- Competition risk
- Manufacturing risk
- Technology risk
- Funding risk
