GlobalData's report Energy Storage Industry to Move Ahead despite Setbacks provides an analysis on the various factors that will drive the market for energy storage despite some setbacks. The energy storage industry is expected to witness significant growth in the coming years. Some of the energy storage technologies gaining prominence recently are Super Conducting Magnetic Energy Storage (SMES), flywheels, and batteries like NaS battery (Sodium Sulphur Battery), Zn-Br battery, Vanadium redox battery, and Li-ion battery.

There has been a rise in the integration of renewable resources in recent years, due to which the demand for energy storage technologies is increasing to deal with the intermittency and stability problems related to these sources. The energy storage industry has faced few setbacks, such as the bankruptcies of Beacon Power bankruptcy and Ener1, and these have generated concerns regarding the potential of energy storage industry. But, investor confidence is set to be strengthened again as a number of factors point to the growth of the energy storage industry.

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