NEW YORK, Sept. 21, 2016 /PRNewswire/ — The U.S. advanced battery energy storage system market is expected to reach USD 780.5 million by 2024, according to a new report by Grand View Research, Inc. Technological advancement and presence of a large number of market players are expected to propel demand over the forecast period. Advanced battery energy storage systems market is expected to witness a significant rise in demand in the coming future on account of rising technological innovation in the field of smart metering, smart grids, and home control devices.In addition, growing R&D activities and rising investments in the field of distributed energy storage is expected to drive the market growth over the forecast period. Rising emphasis by the government to reduce the dependency on fossil fuels to achieve energy needs and increase the share of renewable sources in the energy mix is expected to drive the market demand for the product in the grid storage over the forecast period.
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