Smart Microgrid Controller - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global Smart Microgrid Controller Market is accounted for $6.10 billion in 2019 and is expected to reach $22.39 billion by 2027 growing at a CAGR of 17.7% during the forecast period. Significant growth in a range of distributed energy resources (DER) and growing government investments toward micro grid projects are the major factors driving the market growth. However, complexity regarding coordination between inverters from different vendors having different operational standards is restraining the market growth.
A microgrid is a contiguous section of the network made up of interconnected Distributed Energy Resources (DER) and loads under common control. DERs can distribute renewables, storage devices, generators, electric vehicles, and demand response. Smart Microgrid controls can optimize the combination of DER power and loads to provide reliable and cost-effective operation for end users without human intervention.
Based on connectivity, the grid connected/ network connected segment is likely to have a huge demand as the majority of house owners and small-sized enterprises prefer the grid-connected microgrid controller, owing to its cost-efficient feature, to cater to their respective power requirements. By geography, North America is going to have a lucrative growth during the forecast period due to the rise in the adoption of renewable energy and distributed generation systems. Sustainable microgrids are emerging as a vital tool, across the United States, to combat climate change and increasing instances of natural disasters, such as earthquakes, hurricanes, wildfires, and many more.
Some of the key players profiled in the Smart Microgrid Controller Market include CleanSpark Inc, Eaton Corporation, Emerson Automation Solutions, Encorp Inc, General Electric Company, Opus One Solutions Inc, PowerSecure Inc, S&C Electric Company, Schneider Electric SE, Schweitzer Engineering Laboratories, Siemens AG and Spirae LLC.
• Remote/Off Grid
• Grid Connected/ Network Connected
End Users Covered:
• Commercial and Industrial
• Educational Institutes/ Campus
• Military & Defense
• Power & Utilities
• Small Residential Communities
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
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- Covers Market data for the years 2018, 2019, 2020, 2024 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
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- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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