Microgrid as a Service Market Sales, Value and Growth Rate Market Report Forecast 2019 To 2027

Global Microgrid-as-a-Service Market: Introduction

Transparency Market Research delivers key insights on the global microgrid-as-a-service (MaaS) market. In terms of revenue, the global microgrid-as-a-service market is estimated to expand at a CAGR of ~14% during the forecast period, owing to numerous factors, regarding which, TMR offers thorough insights and forecasts in its report on the global microgrid-as-a-service market.

Microgrid-as-a-service is a cloud-based microgrid control solution that allows a third party to utilize the benefits of microgrids, without hassles related to development, operations, and upfront costs. Microgrid-as-a-service (MaaS) comprises software; design and engineering packages; and operations and maintenance support, which are all delivered from a hosted environment. Microgrid-as-a-service systems are designed for use in different sectors, including government, utilities, and industrial and commercial facilities, with advanced monitoring, control, and optimization of distributed energy at an affordable cost. The use of a microgrid-as-a-service system eliminates the hassle of maintaining on-site IT infrastructure. In addition, microgrid-as-a-service offers significant advantages such as improved scalability, dynamic monitoring, and energy efficiency.

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Power grid systems have witnessed significant technological advancements over the last few years. Owing to the usage of renewable energy sources, microgrid-as-a-service offers cost-effective electricity and helps in reducing the financial losses caused by electricity outages. The demand for microgrid-as-a-service is increasing rapidly in different industrial verticals as well as remote areas. This is primarily due to the declining costs of distributed energy resources and significant features of microgrid-as-a-service, such as high reliability, smart grid integration, low cost, and energy efficiency. Additionally, microgrid-as-a-service facilitates autonomous working. This ensures access to electricity for consumers residing in remote locations. The above-mentioned advantages provided by microgrid-as-a-service over traditional grids are boosting the demand for microgrid-as-a-service. This, in turn, is likely to fuel the global MaaS market during the forecast period.

However, the global power industry witnesses shortage of skilled labor, which is affecting the demand for smart grid systems. According to the U.S. Department of Energy (DoE), the smart grid & electric utility industry in the country would need 105,000 new workers by 2030, but it expects that only 25,000 existing industry personnel are interested in filling those positions.

Global Microgrid-as-a-Service Market: Prominent Regions

North America is the dominant region of the global microgrid-as-a-service market. It is anticipated to continue its dominance in the global microgrid-as-a-service market throughout the forecast period. This can be attributed to increasing adoption of microgrids and high investments in microgrid infrastructure in the region. The microgrid-as-a-service market in Asia Pacific is expected to witness prominent growth in the near future, owing to the rising demand for uninterrupted and reliable power supply in the region. The microgrid-as-a-service markets in the Middle East and South America are expected to witness moderate growth in the near future.

Key players operating in the global microgrid-as-a-service market are displaying synergies through close cooperation and collaborations in the areas of sales, marketing, and production. Manufacturers are also expanding through organic methods, such as increasing their production capacities, in order to meet the rising demand.

Global Microgrid-as-a-service Market: Key Players

Key players operating in the global microgrid-as-a-service market are Green Energy Corp., Schneider Electric, ENGIE, Spirae, LLC, Aggreko, ABB, General Electric, Eaton, Tech Mahindra, and Siemens AG.

Global Microgrid-as-a-Service Market: Segmentation

Microgrid-as-a-Service Market by Type

  • Islanded Microgrids
  • Grid Connected Microgrids

Microgrid-as-a-Service Market by Service

  • Monitoring & Optimization
  • System Maintenance & Operations
  • Infrastructure Upgrade
  • Training
  • Others

Microgrid-as-a-Service Market by End User

  • Government & Utilities
  • Commercial
  • Industrial
  • Residential

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Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather, and analyze information.

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