BOULDER, Colo.--(BUSINESS WIRE)--A new report from Navigant Research examines the market for volt/volt-ampere reactive power (Volt/VAR) management and optimization technologies, providing global market forecasts, broken out by technology segment, system type, and region, through 2026.
With rising penetration of distributed generation and an increasing focus on energy efficiency, demand response, and renewable energy integration, the task of managing the distribution network, including Volt/VAR levels, is becoming increasingly complex. Recent technological advances in the form of intelligent controls, advanced communication systems, and sophisticated data and analytics solutions, however, are enabling utilities to manage voltage and reactive power as never before. Click to tweet: According to a new report from @NavigantRSRCH, global annual Volt/VAR control and optimization revenue is expected to grow from $415.0 million in 2017 to $768.7 million in 2026.
“The market for Volt/VAR control and optimization solutions will vary considerably based on the local regulatory environment,” says Jessica Lewis, senior research analyst with Navigant Research. “Utilities operating under incentives to reduce electricity consumption, shave peak demand, and integrate increasing levels of distributed renewable generation will see the largest investment in advanced Volt/VAR management systems.”
According to the report, North America represents the largest market for software-based, centralized Volt/VAR control and optimization solutions. Navigant Research expects cumulative Volt/VAR investment in the region to total $1.6 billion over the next decade.
The report, Volt/VAR Management and Optimization Technologies, examines the market for Volt/VAR management and optimization technologies. The study focuses on controls for voltage- and VAR-regulating devices (capacitor controls, voltage regulator controls, and load tap changer controls) and the software and analytics systems used to manage and optimize voltage and reactive power levels across the distribution network. It also outlines the major drivers behind demand for Volt/VAR management systems. Global market forecasts, broken out by technology segment, system type, and region, extend through 2026. Finally, the report examines the key technology segments and software system categories related to Volt/VAR management and optimization, as well as the competitive landscape. An Executive Summary of the report is available for free download on the Navigant Research website.
About Navigant Research
Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Energy Technologies, Utility Transformations, Transportation Efficiencies, and Buildings Innovations sectors. Additional information about Navigant Research can be found at www.navigantresearch.com.
Navigant Consulting, Inc. is a specialized, global professional services firm that helps clients take control of their future. Navigant’s professionals apply deep industry knowledge, substantive technical expertise, and an enterprising approach to help clients build, manage and/or protect their business interests. With a focus on markets and clients facing transformational change and significant regulatory or legal pressures, the Firm primarily serves clients in the healthcare, energy and financial services industries. Across a range of advisory, consulting, outsourcing, and technology/analytics services, Navigant’s practitioners bring sharp insight that pinpoints opportunities and delivers powerful results. More information about Navigant can be found at navigant.com.
* The information contained in this press release concerning the report, Volt/VAR Management and Optimization Technologies, is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.