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The battery energy storage system market was valued at USD 747.61 Million in 2015 and is expected to grow at a CAGR of 37.0% between 2016 and 2022. The base year used for the study is 2015 and the forecast period is between 2016 and 2022. This report provides a detailed analysis of the battery energy storage system market segmented on the basis of battery type, connection type, revenue source, ownership, application, and geography. The increasing demand for grid-connected solutions and growing electric vehicle market is expected to impact the market in the future. The research methodology used to estimate and forecast the battery energy storage system market begins with capturing data on key vendor revenues through secondary research. The vendor offerings are also taken into consideration to determine the market segmentation. The bottom-up procedure has been employed to arrive at the overall market size of the global battery energy storage system market from the revenue of the key players in the market. After arriving at the overall market size, the total market has been split into several segments and subsegments, which are then verified through primary research by conducting extensive interviews with key people such as CEOs, VPs, directors, and executives. This data triangulation and market breakdown procedures have been employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments. The breakdown of profiles of primary is depicted in the figure below: 
The ecosystem of the battery energy storage system market includes the raw material provider and component manufacturer, battery energy storage system manufacturers, system integrators, and distributors. The key players in the market include ABB Ltd. (Switzerland), AEG Power Solutions (The Netherland), General Electric Co. (U.S.), Hitachi ltd (Japan), LG Chem. (South Korea), NEC Corporation (Japan), Panasonic Corporation (Japan), Samsung SDI Co., ltd. (South Korea), Siemens AG (Germany), and Tesla Motors Ltd. (U.S.) among others. Key Target Audience: - Battery energy storage system developers
- Grid connected solution providers
- Research organizations
- Technology investors
- Technology standards organizations
- Associations, forums, and alliances related to battery energy storage system
- Government bodies such as regulating authorities and policy makers
“Study answers several questions for the stakeholders, primarily which market segments to focus in the next two to five years for prioritizing the efforts and investments.” Scope of the Report The research report segments the battery energy storage system market into the following submarkets: By Battery Type: - Lithium-Ion Batteries
- Advanced Lead-Acid Batteries
- Flow Batteries
- Sodium-Sulfur (NAS) Batteries
- Others
By Connection Type: By Ownership: - Customer-Owned
- Utility-Owned
- Third-Party-Owned
By Revenue Source: - Hardware
- Software & Services
By Application: - Residential
- Non-Residential
- Utility
- Transportation
- Others
By Geography: - Americas
- Europe
- Asia-Pacific
- Rest of the World
Available Customizations: With the given market data, MarketsandMarkets offers customizations according to the company’s specific needs. The following customization options are available for the report: Company Information - Detailed analysis and profiling of additional market players
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