Microgrid as a Service Market is growing rapidly and during the forecast period, it is expected to grow at CAGR of ~16%. The factors driving the growth of Microgrid as a Service is due to increasing demand for monitoring, control, and optimization of distributed energy.
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
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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.
Microgrid as a Service (MaaS) is a cloud based service which enables third party to produce and manage the electricity. Microgrids efficiently creates a plan for managing the local energy generation and delivery avoiding disruption in power. It majorly focuses on the distribution, generation, and energy storage from renewable sources thereby managing the demand for electricity. Also, it offers an affordable solution reaching at remote locations offering a platform to various industry verticals including residential, utilities, and commercials to produce and manage the own electricity. Recently, in March 2015, SolarCity Corporation launched Microgrid as a Service solution named Gridlogic which offers electricity to communities at an affordable rate with advance power backup for emergency services. The factors driving the growth of Microgrid as a Service is due to increasing demand for monitoring, control, and optimization of distributed energy. Also, demand from remote locations for microgrids which supports regular and controllable clean energy is expected to drive the growth of MaaS market.
The prominent players in the market of Microgrid as a service are- 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.) among others.
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.
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%.
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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.
TABLE OF CONTENTS
1 Market Introduction
1.2 Scope Of Study
1.2.1 Research Objective
1.3 Market Structure:
1.3.1 Global Microgrid As A Service Market: By Grid Type
1.3.2 Global Microgrid As A Service Market: By Service Type
1.3.2 Global Microgrid As A Service Market: By Industry
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
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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 (%)
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