About Microgrid As A Service
A Microgrid efficiently incorporate numerous sources of distributed energy generation and manages transition between stand-alone modes and in grid- connected. Globally microgrid as a service market is expected to mark significant growth owing to surging demand from remote areas, increasing need of renewable energy sources and continuous & reliable source of power and electrical energy.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 15.93% |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new product launches, and collaborations as their preferred strategies. The intense competition, changing consumer spending patterns, demographic trends, and frequent changes in consumer preferences pose significant opportunities for market growth. Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Microgrid As A Service market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
General Electric (United States), Eaton Corp. PLC (Ireland), Siemens AG (Germany), Pareto Energy (United States), Spirae, Inc. (United States), Green Energy Corporation (United States), Northern Power Systems Corp. (United States), Xelon Corporation (United States), NRG Energy, Inc. (United States), Anbaric Transmission, LLC (United States), Solar City Inc. (United States) and Other are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are ABB Ltd. (Switzerland).
Segmentation Overview
AMA Research has segmented the market of Global Microgrid As A Service market by Type (Grid Connected, Remote and Others), Application (Government & Education, Residential & Commercial, Industrial, Military, Utility and Others) and Region.
On the basis of Type, Software as a Service (SaaS) are dominating the market in the year 2023 where as Operation and Maintenance Service stood as second largest market share.
On the basis of geography, the market of Microgrid As A Service has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by By Service Type, the sub-segment i.e. Engineering & Design Service will boost the Microgrid As A Service market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Adoption of Customer Owned Microgrids and Increasing Demand from Defense, Hospitals, and Remote Regions
Market Growth Drivers:
Declining Operational Cost and Increasing Government Investment in Microgrid Infrastructure
Challenges:
Bidirectional Electricity Flows and Difficulties in Managing Large-Sized Microgrids
Restraints:
Stringent Government Regulations and Lack of Skilled Workforce to Adopt New Technology
Opportunities:
Rising Usage of Behind the Meter Microgrid Virtual Batteries
Market Leaders and their expansionary development strategies
February 2023: Enchanted Rock, a MaaS provider, announced a partnership with the University of California, Riverside (UCR) to study hydrogen blending technology for natural gas generators used in microgrids. This collaboration aims to reduce greenhouse gas and other emissions associated with power generation.
December 2022: Schneider Electric launched its "EcoStruxure Microgrid Advisor" software solution, a cloud-based platform designed to support the design, operation, and maintenance of microgrids. This new product aimed to simplify the MaaS process for customers by offering features like data analytics, optimization tools, and remote monitoring capabilities. Schneider Electric Press
Key Target Audience
Microgrid service providers, Microgrid systems integrators and developers, Transmission system operators, Energy storage vendors, Smart grid software vendors, Solar PV companies, Government agencies, Utilities, Investor community and Research organizations
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.