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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