Smart Microgrid Controller Market
Smart Microgrid Controller Market Forecasts to 2028 – Global Analysis By Offering (Services, Hardware), Connectivity (Remote/Off Grid, Grid Connected/Network Connected), End User (Military & Defense, Municipalities) and By Geography
|
Years Covered |
2020-2028 |
|
Estimated Year Value (2021) |
US $6.09 BN |
|
Projected Year Value (2028) |
US $16.10 BN |
|
CAGR (2021 - 2028) |
14.9% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
North America |
|
Highest Growing Market |
Asia Pacific |
According to Stratistics MRC, the Global Smart Microgrid Controller Market is accounted for $6.09 billion in 2021 and is expected to reach $16.10 billion by 2028 growing at a CAGR of 14.9% during the forecast period. 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.
Market Dynamics:
Driver:
Increased demand for smart microgrid controller
The smart microgrid controller can be utilized to control domestic devices, which allows the devices to work automatically by an active demand control system. The smart microgrid controller is capable of maintaining grid stability autonomously with less operating costs across all energy-generating sources within a microgrid. The smart microgrid controller provides real-time control of paralleled grid-forming sources and variable renewable generation as well as intelligent load and solar forecasting. It also optimizes sites and systems, supporting storage, load, solar, other generators, and islanding control. The PLC based smart microgrid controller can be helpful in nuclear power plants for load restoration during station blackout. The adoption of smart microgrid controller is rising over the traditional energy grid, as it offers uninterrupted power flow, creates outages, and ultimately slows down economies.
Restraint:
Complexity between inverters from different vendors
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.
Opportunity:
Rising shift towards the use of renewable energy sources
The growth of this market is driven by the growing demand for micro-grids and the growing shift towards the use of renewable energy sources and the reduction of the carbon footprint. This growth is due to its crucial role in monitoring, forecasting, managing and optimizing energy supply and demand for a micro-grid network. Grid-connected microgrid is more reliable than isolated microgrid because they are connected to major utility grids.
Threat:
High cost of microgrid control systems
However, high cost of microgrid control systems can hinder the growth of the market. With these systems being relatively new, there is also a constant requirement for maintenance, and hence, the need for skilled labor to address technical issues. These factors are standing as roadblocks for the market grow.
The grid connected/ network connected segment is expected to have the highest CAGR during the forecast period
The grid connected/ network connected segment is growing at the highest CAGR in the market. The grid-connected smart microgrid controller is a connected grid network, which is installed to provide energy in accordance with the requirements of the corresponding end-user. The micro sources are able to act as a current source with maximum power transfer capability to the grid. 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.
Region with highest share:
North America is projected to hold the largest share in the market due to rising adoption of electric vehicles and increased investments by private organizations and governments. Microgrid controllers are increasing in adoption as the traditional energy grid struggle to provide uninterrupted power flow, which causes outages, and subsequently slows down the economies.
Region with highest CAGR:
Asia Pacific is projected to have the highest CAGR in the market due to increased dependence on electronic devices and constant need for electricity in households as well as the commercial sector, which in turn is fueling the smart microgrid controller market.
Key players in the market:
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.
Key developments:
In November 2019: Siemens partnered with the German renewable energy developer Juwi to jointly provide microgrids in the mining industry. The development of the control system is expected to help simplify the use of renewable energy for mines and help provide a cost-effective and reliable power supply, especially for mine sites that operate off the grid.
In February 2018: GE worked with the Arenko Group (UK) to build grid scale energy storage systems in the UK. Arenko has funded in a 41 MW battery energy storage system that was developed by GE. Energy storage will help balance supply and demand close to real-time, avoiding frequency drifts and supporting the mid-term response to grid imbalances.
In March 2017: Schneider Electric signed a tripartite agreement with ENGIE Lab (Singapore) and Nanyang University of Technology (Singapore) to meet the challenge of energy access for off-grid areas in Asia-Pacific. The collaboration will bring together operational excellence and planning capabilities from ENGIE and energy management expertise and innovative offer from Schneider Electric.
Offerings Covered:
• Services
• Hardware
• Software
Connectivity's Covered:
• Remote/Off Grid
• Grid Connected/Network Connected
End Users Covered:
• Commercial and Industrial
• Educational Institutes/Campus
• Government/Communities
• Healthcare
• Military & Defense
• Municipalities
• Power & Utilities
• Small Residential Communities
• Villages
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 End User Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Smart Microgrid Controller Market, By Offering
5.1 Introduction
5.2 Services
5.3 Hardware
5.4 Software
6 Global Smart Microgrid Controller Market, By Connectivity
6.1 Introduction
6.2 Remote/Off Grid
6.3 Grid Connected/Network Connected
7 Global Smart Microgrid Controller Market, By End User
7.1 Introduction
7.2 Commercial and Industrial
7.3 Educational Institutes/Campus
7.4 Government/Communities
7.5 Healthcare
7.6 Military & Defense
7.7 Municipalities
7.8 Power & Utilities
7.9 Small Residential Communities
7.10 Villages
8 Global Smart Microgrid Controller Market, By Geography
8.1 Introduction
8.2 North America
8.2.1 US
8.2.2 Canada
8.2.3 Mexico
8.3 Europe
8.3.1 Germany
8.3.2 UK
8.3.3 Italy
8.3.4 France
8.3.5 Spain
8.3.6 Rest of Europe
8.4 Asia Pacific
8.4.1 Japan
8.4.2 China
8.4.3 India
8.4.4 Australia
8.4.5 New Zealand
8.4.6 South Korea
8.4.7 Rest of Asia Pacific
8.5 South America
8.5.1 Argentina
8.5.2 Brazil
8.5.3 Chile
8.5.4 Rest of South America
8.6 Middle East & Africa
8.6.1 Saudi Arabia
8.6.2 UAE
8.6.3 Qatar
8.6.4 South Africa
8.6.5 Rest of Middle East & Africa
9 Key Developments
9.1 Agreements, Partnerships, Collaborations and Joint Ventures
9.2 Acquisitions & Mergers
9.3 New Product Launch
9.4 Expansions
9.5 Other Key Strategies
10 Company Profiling
10.1 CleanSpark Inc
10.2 Eaton Corporation
10.3 Emerson Automation Solutions
10.4 Encorp Inc
10.5 General Electric Company
10.6 Opus One Solutions Inc
10.7 PowerSecure Inc
10.8 S&C Electric Company
10.9 Schneider Electric SE
10.10 Schweitzer Engineering Laboratories
10.11 Siemens AG
10.12 Spirae LLC
List of Tables
1 Global Smart Microgrid Controller Market Outlook, By Region (2020-2028) ($MN)
2 Global Smart Microgrid Controller Market Outlook, By Offering (2020-2028) ($MN)
3 Global Smart Microgrid Controller Market Outlook, By Services (2020-2028) ($MN)
4 Global Smart Microgrid Controller Market Outlook, By Hardware (2020-2028) ($MN)
5 Global Smart Microgrid Controller Market Outlook, By Software (2020-2028) ($MN)
6 Global Smart Microgrid Controller Market Outlook, By Connectivity (2020-2028) ($MN)
7 Global Smart Microgrid Controller Market Outlook, By Remote/Off Grid (2020-2028) ($MN)
8 Global Smart Microgrid Controller Market Outlook, By Grid Connected/Network Connected (2020-2028) ($MN)
9 Global Smart Microgrid Controller Market Outlook, By End User (2020-2028) ($MN)
10 Global Smart Microgrid Controller Market Outlook, By Commercial and Industrial (2020-2028) ($MN)
11 Global Smart Microgrid Controller Market Outlook, By Educational Institutes/Campus (2020-2028) ($MN)
12 Global Smart Microgrid Controller Market Outlook, By Government/Communities (2020-2028) ($MN)
13 Global Smart Microgrid Controller Market Outlook, By Healthcare (2020-2028) ($MN)
14 Global Smart Microgrid Controller Market Outlook, By Military & Defense (2020-2028) ($MN)
15 Global Smart Microgrid Controller Market Outlook, By Municipalities (2020-2028) ($MN)
16 Global Smart Microgrid Controller Market Outlook, By Power & Utilities (2020-2028) ($MN)
17 Global Smart Microgrid Controller Market Outlook, By Small Residential Communities (2020-2028) ($MN)
18 Global Smart Microgrid Controller Market Outlook, By Villages (2020-2028) ($MN)
19 North America Smart Microgrid Controller Market Outlook, By Country (2020-2028) ($MN)
20 North America Smart Microgrid Controller Market Outlook, By Offering (2020-2028) ($MN)
21 North America Smart Microgrid Controller Market Outlook, By Services (2020-2028) ($MN)
22 North America Smart Microgrid Controller Market Outlook, By Hardware (2020-2028) ($MN)
23 North America Smart Microgrid Controller Market Outlook, By Software (2020-2028) ($MN)
24 North America Smart Microgrid Controller Market Outlook, By Connectivity (2020-2028) ($MN)
25 North America Smart Microgrid Controller Market Outlook, By Remote/Off Grid (2020-2028) ($MN)
26 North America Smart Microgrid Controller Market Outlook, By Grid Connected/Network Connected (2020-2028) ($MN)
27 North America Smart Microgrid Controller Market Outlook, By End User (2020-2028) ($MN)
28 North America Smart Microgrid Controller Market Outlook, By Commercial and Industrial (2020-2028) ($MN)
29 North America Smart Microgrid Controller Market Outlook, By Educational Institutes/Campus (2020-2028) ($MN)
30 North America Smart Microgrid Controller Market Outlook, By Government/Communities (2020-2028) ($MN)
31 North America Smart Microgrid Controller Market Outlook, By Healthcare (2020-2028) ($MN)
32 North America Smart Microgrid Controller Market Outlook, By Military & Defense (2020-2028) ($MN)
33 North America Smart Microgrid Controller Market Outlook, By Municipalities (2020-2028) ($MN)
34 North America Smart Microgrid Controller Market Outlook, By Power & Utilities (2020-2028) ($MN)
35 North America Smart Microgrid Controller Market Outlook, By Small Residential Communities (2020-2028) ($MN)
36 North America Smart Microgrid Controller Market Outlook, By Villages (2020-2028) ($MN)
37 Europe Smart Microgrid Controller Market Outlook, By Country (2020-2028) ($MN)
38 Europe Smart Microgrid Controller Market Outlook, By Offering (2020-2028) ($MN)
39 Europe Smart Microgrid Controller Market Outlook, By Services (2020-2028) ($MN)
40 Europe Smart Microgrid Controller Market Outlook, By Hardware (2020-2028) ($MN)
41 Europe Smart Microgrid Controller Market Outlook, By Software (2020-2028) ($MN)
42 Europe Smart Microgrid Controller Market Outlook, By Connectivity (2020-2028) ($MN)
43 Europe Smart Microgrid Controller Market Outlook, By Remote/Off Grid (2020-2028) ($MN)
44 Europe Smart Microgrid Controller Market Outlook, By Grid Connected/Network Connected (2020-2028) ($MN)
45 Europe Smart Microgrid Controller Market Outlook, By End User (2020-2028) ($MN)
46 Europe Smart Microgrid Controller Market Outlook, By Commercial and Industrial (2020-2028) ($MN)
47 Europe Smart Microgrid Controller Market Outlook, By Educational Institutes/Campus (2020-2028) ($MN)
48 Europe Smart Microgrid Controller Market Outlook, By Government/Communities (2020-2028) ($MN)
49 Europe Smart Microgrid Controller Market Outlook, By Healthcare (2020-2028) ($MN)
50 Europe Smart Microgrid Controller Market Outlook, By Military & Defense (2020-2028) ($MN)
51 Europe Smart Microgrid Controller Market Outlook, By Municipalities (2020-2028) ($MN)
52 Europe Smart Microgrid Controller Market Outlook, By Power & Utilities (2020-2028) ($MN)
53 Europe Smart Microgrid Controller Market Outlook, By Small Residential Communities (2020-2028) ($MN)
54 Europe Smart Microgrid Controller Market Outlook, By Villages (2020-2028) ($MN)
55 Asia Pacific Smart Microgrid Controller Market Outlook, By Country (2020-2028) ($MN)
56 Asia Pacific Smart Microgrid Controller Market Outlook, By Offering (2020-2028) ($MN)
57 Asia Pacific Smart Microgrid Controller Market Outlook, By Services (2020-2028) ($MN)
58 Asia Pacific Smart Microgrid Controller Market Outlook, By Hardware (2020-2028) ($MN)
59 Asia Pacific Smart Microgrid Controller Market Outlook, By Software (2020-2028) ($MN)
60 Asia Pacific Smart Microgrid Controller Market Outlook, By Connectivity (2020-2028) ($MN)
61 Asia Pacific Smart Microgrid Controller Market Outlook, By Remote/Off Grid (2020-2028) ($MN)
62 Asia Pacific Smart Microgrid Controller Market Outlook, By Grid Connected/Network Connected (2020-2028) ($MN)
63 Asia Pacific Smart Microgrid Controller Market Outlook, By End User (2020-2028) ($MN)
64 Asia Pacific Smart Microgrid Controller Market Outlook, By Commercial and Industrial (2020-2028) ($MN)
65 Asia Pacific Smart Microgrid Controller Market Outlook, By Educational Institutes/Campus (2020-2028) ($MN)
66 Asia Pacific Smart Microgrid Controller Market Outlook, By Government/Communities (2020-2028) ($MN)
67 Asia Pacific Smart Microgrid Controller Market Outlook, By Healthcare (2020-2028) ($MN)
68 Asia Pacific Smart Microgrid Controller Market Outlook, By Military & Defense (2020-2028) ($MN)
69 Asia Pacific Smart Microgrid Controller Market Outlook, By Municipalities (2020-2028) ($MN)
70 Asia Pacific Smart Microgrid Controller Market Outlook, By Power & Utilities (2020-2028) ($MN)
71 Asia Pacific Smart Microgrid Controller Market Outlook, By Small Residential Communities (2020-2028) ($MN)
72 Asia Pacific Smart Microgrid Controller Market Outlook, By Villages (2020-2028) ($MN)
73 South America Smart Microgrid Controller Market Outlook, By Country (2020-2028) ($MN)
74 South America Smart Microgrid Controller Market Outlook, By Offering (2020-2028) ($MN)
75 South America Smart Microgrid Controller Market Outlook, By Services (2020-2028) ($MN)
76 South America Smart Microgrid Controller Market Outlook, By Hardware (2020-2028) ($MN)
77 South America Smart Microgrid Controller Market Outlook, By Software (2020-2028) ($MN)
78 South America Smart Microgrid Controller Market Outlook, By Connectivity (2020-2028) ($MN)
79 South America Smart Microgrid Controller Market Outlook, By Remote/Off Grid (2020-2028) ($MN)
80 South America Smart Microgrid Controller Market Outlook, By Grid Connected/Network Connected (2020-2028) ($MN)
81 South America Smart Microgrid Controller Market Outlook, By End User (2020-2028) ($MN)
82 South America Smart Microgrid Controller Market Outlook, By Commercial and Industrial (2020-2028) ($MN)
83 South America Smart Microgrid Controller Market Outlook, By Educational Institutes/Campus (2020-2028) ($MN)
84 South America Smart Microgrid Controller Market Outlook, By Government/Communities (2020-2028) ($MN)
85 South America Smart Microgrid Controller Market Outlook, By Healthcare (2020-2028) ($MN)
86 South America Smart Microgrid Controller Market Outlook, By Military & Defense (2020-2028) ($MN)
87 South America Smart Microgrid Controller Market Outlook, By Municipalities (2020-2028) ($MN)
88 South America Smart Microgrid Controller Market Outlook, By Power & Utilities (2020-2028) ($MN)
89 South America Smart Microgrid Controller Market Outlook, By Small Residential Communities (2020-2028) ($MN)
90 South America Smart Microgrid Controller Market Outlook, By Villages (2020-2028) ($MN)
91 Middle East & Africa Smart Microgrid Controller Market Outlook, By Country (2020-2028) ($MN)
92 Middle East & Africa Smart Microgrid Controller Market Outlook, By Offering (2020-2028) ($MN)
93 Middle East & Africa Smart Microgrid Controller Market Outlook, By Services (2020-2028) ($MN)
94 Middle East & Africa Smart Microgrid Controller Market Outlook, By Hardware (2020-2028) ($MN)
95 Middle East & Africa Smart Microgrid Controller Market Outlook, By Software (2020-2028) ($MN)
96 Middle East & Africa Smart Microgrid Controller Market Outlook, By Connectivity (2020-2028) ($MN)
97 Middle East & Africa Smart Microgrid Controller Market Outlook, By Remote/Off Grid (2020-2028) ($MN)
98 Middle East & Africa Smart Microgrid Controller Market Outlook, By Grid Connected/Network Connected (2020-2028) ($MN)
99 Middle East & Africa Smart Microgrid Controller Market Outlook, By End User (2020-2028) ($MN)
100 Middle East & Africa Smart Microgrid Controller Market Outlook, By Commercial and Industrial (2020-2028) ($MN)
101 Middle East & Africa Smart Microgrid Controller Market Outlook, By Educational Institutes/Campus (2020-2028) ($MN)
102 Middle East & Africa Smart Microgrid Controller Market Outlook, By Government/Communities (2020-2028) ($MN)
103 Middle East & Africa Smart Microgrid Controller Market Outlook, By Healthcare (2020-2028) ($MN)
104 Middle East & Africa Smart Microgrid Controller Market Outlook, By Military & Defense (2020-2028) ($MN)
105 Middle East & Africa Smart Microgrid Controller Market Outlook, By Municipalities (2020-2028) ($MN)
106 Middle East & Africa Smart Microgrid Controller Market Outlook, By Power & Utilities (2020-2028) ($MN)
107 Middle East & Africa Smart Microgrid Controller Market Outlook, By Small Residential Communities (2020-2028) ($MN)
108 Middle East & Africa Smart Microgrid Controller Market Outlook, By Villages (2020-2028) ($MN)
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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