The Microgrid-As-A-Service Global Market Report 2023, provides comprehensive information on the microgrid-as-a-service market across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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The global microgrid-as-a-service market is expected to grow from $1.83 billion in 2022 to $2.12 billion in 2023 at a compound annual growth rate (CAGR) of 16.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and resulted in increased interest rates affecting many markets across the globe. The microgrid-as-a-service market is expected to reach $3.66 billion in 2027 at a CAGR of 14.6%.
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Technological advancements are a key trend gaining recognition in the microgrid-as-a-service market. Major companies operating in the microgrid-as-a-service market are concentrating on creating revolutionary products to improve their market share. For instance, in January 2021, Schneider Electric SE, a France-based microgrid-as-a-service solutions and management company, launched EcoStruxure Microgrid Solution. EcoStruxure Microgrid Solution is a one-stop solution that enables the simple integration of distributed energy resources (DERs) across facilities such as industrial and commercial structures, healthcare establishments, and colleges and universities, providing businesses with increased energy resiliency, reduced utility bills, and a lower environmental impact. It has been developed to assist enterprises in managing the increased grid intricacy that has resulted from the surge in DERs. The notable characteristics are control of grid connections, off-grid mode preparation, and demand fee reduction.
The microgrid-as-a-service market is segmented:
1) By Service Type: Engineering And Design Service, Software As A Service, Monitoring And Control Services, Operation And Maintenance Services
2) By Grid Type: Remote Or Islanded Type, Grid-Connected Type
3) By Vertical: Utility, Residential And Commercial, Military, Industrial, Other Verticals
Top Major Players:
Siemens AG
General Electric Company
Caterpillar Inc
Schneider Electric SE
NRG Energy Inc
North America was the largest region in the microgrid-as-a-service market in 2022.
The table of contents in TBRC’s microgrid-as-a-service market report includes:
1. Executive Summary
2. Microgrid-As-A-Service Market Characteristics
3. Microgrid-As-A-Service Market Trends And Strategies
4. Microgrid-As-A-Service Market - Macro Economic Scenario
5. Global Microgrid-As-A-Service Market Size and Growth
………………………………………………………………….
32. Global Microgrid-As-A-Service Market Competitive Benchmarking
33. Global Microgrid-As-A-Service Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Microgrid-As-A-Service Market
35. Microgrid-As-A-Service Market Future Outlook and Potential Analysis
36. Appendix
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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 2016-2022Overview:To address the problems associated with power resiliency, alternative energy options such as advanced microgrids are being considered.
Microgrids are a distribution network of distributed energy resources (DER) that is capable of islanding regardless of being connected to a traditional utility power grid.
The global microgrid as a Service market was valued at USD 772 Mn in 2015.Surging cases of widespread power outages caused by natural calamities and aging grid structures have resulted in a pressing need to improve energy output.
MaaS offers the advantages of dynamic monitoring and scalability at an affordable rate.
Rapid industrialization across the globe, especially in the emerging economies has resulted in the need for an uninterrupted flow of electricity which has further induced greater demand for MaaS.
Moreover, the adoption of MaaS eliminates the need to incur upfront costs which bodes well for the market in price sensitive market.
