Microgrid-as-a-Service Market - Industry Size, Share, Growth & Forecast 2028 | UnivDatos

 A microgrid is considered as a self-contained network of electricity that allows the generation and flow of electricity. The microgrid could be operated while connected through the utility grid or disconnected island mode. The microgrid could connect, control, and monitor the distributed energy resource while enhancing performance. In recent years, the microgrid-as-a-service market has witnessed significant demand due to the increasing demand for electricity and its ability to optimize energy expenses by reducing operational costs, storage costs, and selling back to the grid during the peak hour of demand.

The Microgrid-as-a-Service Market is expected to grow at a steady rate of around 15% during the forecast period (2022-2028) owing to the increasing demand from hospitals, universities, and smaller industries coupled with the increasing investment in the energy distribution infrastructure. Major companies in the market are focusing on investment and merger & acquisition to provide the optimized solution. For instance, in June 2019, Saft acquired the microgrid startup Go Electric to strengthen its commercial microgrid segment in the market.

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According to UnivDatos Market Insights (UMI)’ research report “Global Microgrid-as-a-Service Market”, the market is expected to witness robust growth during the forecast period (2022-2028). This is mainly due to the growing population coupled with rapid urbanization & industrialization.

Based on type, the market is segmented into grid-connected microgrids and islanded microgrids. The islanded or remote microgrids segment is expected to witness a significant CAGR during the forecast period owing to its real-time simulation technology. The islanded microgrids are the collection of microgrids where it is disconnected from the central utility and remain energize and continuously supply the local loads. In an islanded microgrid, the microgrid is responsible for power sharing, balancing, and voltage control.

Based on the Service, the market is categorized into engineering & design, system operation & maintenance, monitoring & optimization, and software-as-a-service. The software-as-a-service segment is expected to register significant growth during the forecast period due to its better quality, improved grid resiliency, and greater ability to add sustainable power sources at affordable cost and easier maintenance. Also, the software-as-a-service is offering better controllability for smaller power operation locations as well such as universities, municipalities, and industrial & commercial industries.

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APAC to witness extensive growth

For a better understanding of the market adoption of the microgrid-as-a-service industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, and Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. APAC is anticipated to grow at a substantial CAGR during the forecast period. This is mainly due to the increasing resilient and uninterrupted electricity demand coupled with the growing electrification rate.  Also, the government support for the expansion of the utility-based grid and reduction in the carbon footprint along with the surging investment in renewable energy and green energy is expected to boost the demand in the region. Also, to support the microgrid-as-a-service government provides tax incentives and feed-in tariffs to attract higher investment. Additionally, the increasing population, aging power supply infrastructure, and lack of electricity in the remote area of the region coupled with rapid urbanization and industrialization will require additional infrastructure and leads the microgrid development in the continent.

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According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the microgrid-as-a-service market are ABB Ltd., Siemens AG, General Electric, Eaton Corporation Plc, Green Energy Corporation, Schneider Electric SE, ENGIE, Tech Mahindra, AIO Systems Ltd., and Metco Engineering.

“Global Microgrid-as-a-Service Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors’ capabilities on different parameters. This will help companies in the formulation of go-to-market strategies and identifying the blue ocean for its offerings.        

Market Segmentation:

1.      By Type (Grid-Connected Microgrids and Islanded Microgrids)

2.      By Service (Engineering & Design, System Operation & Maintenance, Monitoring & Optimization, and Software-as-a-Service)

3.      By Application (Industrial, Residential, and Commercial)

4.      By Region (North America, Europe, Asia-Pacific, Rest of the World)

5.      By Company (ABB Ltd., Siemens AG, General Electric, Eaton Corporation Plc, Green Energy Corporation, Schneider Electric SE, ENGIE, Tech Mahindra, AIO Systems Ltd., and Metco Engineering)

Key questions answered in the study:

1.      What are the current and future trends of the global microgrid-as-a-service industry?

2.      How the industry has been evolving in terms of type, service, and application?

3.      How the competition has been shaping across the countries followed by their comparative factorial indexing?

4.      What are the key growth drivers and challenges for the global microgrid-as-a-service industry?

5.      What is the customer orientation, purchase behavior, and expectations from the global microgrid-as-a-service suppliers across various region and countries?