Market convergence in the field of stationary energy storage systems

In order to develop and market powerful stationary energy storage systems, competences of different industries like the battery, chemical, energy, and electronics sector are necessary, which may lead to a convergence of these formerly distinct industries. Therefore, the purpose of this study is to anticipate industry convergence in the area of stationary energy storage by analyzing market convergence. A potential market convergence can be indicated by collaborative activities such as strategic alliances, joint ventures or mergers and acquisitions. As a main source of information on such activities, we use the full text database Nexis® to conduct a search in English news sources referring to collaborations on stationary energy storage systems. As a result, we find signs for an ongoing market convergence, whereby a detailed analysis of collaborations in this field reveals that the mainly involved industries are the battery, electronics and energy industry sectors. In this context, the dominance of cross-industry collaborations indicates that competences from a variety of industries are needed to develop and introduce new solutions for stationary energy storage. Our analyses and findings contribute to the convergence research field by extending the currently scarce body of empirical literature on market convergence and by validating a recently developed analytical framework to anticipate and assess the status of market convergence.