Global Energy Storage Market in Telecommunication Industry 2018-2022
About this market
The advent of IoT to drive growth in the market. IoT is expected to become the next critical engine for future growth of the telecom ecosystem. IoT devices function on various connectivity technologies including Wi-Fi, Blue tooth, LPWAN, and cellular. Technavio’s analysts have predicted that the energy storage market in telecommunication industry will register a CAGR of close to 12% by 2022.
Increase in power consumption
Off-grid energy storage technologies improve the efficiency of power plants, as they decrease the burden on the main grid and lessen the transmission and distribution (T&D) losses. In addition, they also make the T&D more flexible and support in meeting the peak demand to improve system efficiency. Hence, the increase in power consumption is one of the major drivers for the demand for off-grid ESS.
Decline in diesel prices
The primary reason for the adoption of ESS in telecom towers was to decrease the carbon footprint and lessen the cost and dependency on diesel. However, a continuous and year-over-year decline has been observed in the prices of diesel since 2012, resulting in a negative impact on the adoption of ESS in the telecommunication industry.
For the detailed list of factors that will drive and challenge the growth of the energy storage market in telecommunication industry during the 2018-2022, view our report.
The market appears to be fragmented and with the presence of several companies including EnerSys and Exide Technologies the competitive environment is quite intense. Factors such as the increase in power consumption and the advent of IoT, will provide considerable growth opportunities to energy storage market in telecommunication industry. East Penn Manufacturing, EnerSys, Exide Technologies, GS Yuasa International, and Saft are some of the major companies covered in this report.
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