Microgrid as a Service Market by Grid Type (Grid connected, Islanded), by Service Type (Software as a Service, Monitoring & Control Service, Operation & Maintenance Service), Industry (Government, Residential & Commercial, Industrial, Military & Defense) - And Forecast 2016-2022
Exclusive Summery About Report:
The Microgrids as a Service Market is registering healthy growth due to various benefits offered by Microgrids such highly reliability, economical & efficient energy power , enhancement of renewable energy sources and smart grid integration among others. The autonomous working nature of Microgrid provides great benefits to communities that have no access to electricity.
Microgrid as a solution combines solar panels, batteries and controllable load in order to meet the requirements of industrial, residential or consumer loads anywhere in the world. The Solution also provides dynamic monitoring, scalability, and control to improve energy output.
Microgrid as a solution offers electricity at affordable rate and helps in reducing the economic losses from electricity outages in emergency situation.
In November, 2016, American Electric Power (AEP) announced to invest around 52$ million to build utility Microgrids as part of a smart city design for Columbus, Ohio.
Global Microgrid as a Service Market has been valued at US $772 million in the year 2015 which is expect to grow at US $~2.2 billion by the end of forecasted period with CAGR of approx. ~16%.
However, the technical difficulties, adaptability in integrating new energy resources due to the large grid infrastructure are the main restraining factors for Microgrid as a service market.
Major Key Players
- ABB Ltd. (Switzerland),
- General Electric (U.S.),
- Siemens AG (Germany),
- Eaton Corp. PLC (Ireland),
- Schneider Electric SE (France),
- Duke Energy Corporation (U.S.),
- Northern Power Systems Corp. (U.S.)
- Exelon Corp. (U.S.),
- NRG Energy, Inc. (U.S.),
- Spirae, Inc. (U.S.)
Taste the market data and market information presented through more than 30 market data tables and figures spread over 100 numbers of pages of the project report. Avail the in-depth table of content TOC & market synopsis on “Microgrid as a Service Market Research Report- Forecast 2022”.
Global Microgrid as a service Market has been segmented on the Basis of Grid type, Service type, and industry. Grid Type has been identified as Grid connected and remote/Islanded.
Services Type are Software as a Service, Monitoring & Control Service, and Operation & Maintenance Service while Industry includes Manufacturing, Residential & Commercial, Military, and Utility.
Asia-Pacific is dominating the market of Microgrid as a service Market due to the increasing rural electrification programs by developing countries such as china, japan and India. The rising demand of renewal energy for electricity generation in is also supporting the Microgrid as a service market in this region.
North America is showing major growth in Microgrid as a service Market are increased production rates, high quality power, and safe industrial operations. The United States Department of Energy is also encouraging the development and deployment of Microgrids.
Europe is expected to register healthy growth in the Microgrid as a service Market due to the increasing requirement of improved electricity infrastructure and government initiates for renewal energy.
Commenting on the report, an analyst from Market Research Future (MRFR)’s team said:
Microgrid as a Service market is growing rapidly due to the growing demand in industries, hospitals and commercials. The rise in the use of Microgrid as a service will lower the overall cost of electricity generation and reduction in consumption of fuel.
Global Microgrid as a Service market is expected to grow at CAGR of ~16% and expected to generate revenue of ~$2.2 billion by the end of forecast period. APAC is the leading market for Microgrid as a service due to the demand for energy, particularly electricity, is growing rapidly.
By the end of the forecasted period North America especially, U.S. is expected to lead the market of Microgrid as a Service due to continuous changes and developments in power sector.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
- Microgrid system and service providers
- Smart grid software developers
- Solar photovoltaic companies
- Government organizations
- Education and research organizations
- Utility Service provides
List Of Tables
Table 1 Global Microgrid As A Service Market, By Grid Type
Table 2 Global Microgrid As A Service Market, By Service Type
Table 3 Global Microgrid As A Service Market, By Industry
Table 4 Global Microgrid As A Service Market, By Regions
Table 5 North America Microgrid As A Service Market, By Grid Type
List Of Figures
Figure 1 Research Type
Figure 2 Global Microgrid As A Service Market: By Grid Type (%)
Figure 3 Global Microgrid As A Service Market: By Service Type (%)
Figure 4 Global Microgrid As A Service Market: By Industry (%)
Figure 5 Global Microgrid As A Service Market: By Region
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