Microgrid as a Service Market is growing rapidly during the forecast period with ABB, General Electric, Siemens AG,Eaton, Schneider Electric SE, Duke Energy, Northern, Exelon Corp, NRG Energy, Spirae

Global Microgrid As A Service (Maas) Market will expand at a CAGR of 16% during the review period (2019-2023). the microgrid as a service market has been covered across regions such as North America, Europe, Asia Pacific (APAC). The MaaS market in APAC is expected to remain highly lacrative during the assessment period

Global Microgrid as a Service Market: Competitive Landscape

Some of the leading market players mentioned in MRFR’s report include ABB Ltd. (Switzerland), Eaton Corp. PLC (Ireland), Duke Energy Corporation (U.S.), Exelon Corp. (U.S.), NRG Energy, Inc. (U.S.), General Electric (U.S.), Schneider Electric SE (France), Siemens AG (Germany), Spirae, Inc. (U.S.) and Northern Power Systems Corp. (U.S.).

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Microgrid as a Service Market - Scenario:

Microgrid as a service is gaining a quick momentum owing to its dynamic application landscape. It is basically a cloud-based technology that allows production and management of electricity via third party entities. MaaS is capable of creating an effective blueprint for managing medium and sub-medium scale power generation and distribution. As compared to traditional systems, MaaS is more reliable and ensures a stable supply of electricity.

Microgrid as a service is gaining a quick momentum owing to its dynamic application landscape. It is basically a cloud-based technology that allows production and management of electricity via third party entities. MaaS is capable of creating an effective blueprint for managing medium and sub-medium scale power generation and distribution. As compared to traditional systems, MaaS is more reliable and ensures a stable supply of electricity.

Energy consumption has continued to grow at a rampant pace in recent years and the requirement is likely to increase further in future. The sharp rise in power demand can be attributed to the rapid industrialization and urbanization in countries such as China, India and Brazil. MaaS is expected to play in important role in addressing the issues of power supply in the years to come. Power plant management bodies are focusing on developing systems that are future-ready in orders to overcome challenges that are likely to arise in the coming years. Such factors are expected to create lucrative opportunities for MaaS during the forecast period.

MaaS is aimed at improving power generation, distribution and storage. MaaS is being actively used in energy generation from renewable sources. Government bodies all over the world are making efforts to reduce energy cost which is making a positive impact on technologies such as MaaS. The popularity of MaaS is increasing also due to its requirement-specific offerings. It can used for distributing power to remote location as well as supporting power requirement in industrial verticals. Today, effective monitoring, management and optimization of electricity generation is extremely important and achieving such goals is difficult without bringing innovation in power grid operation. Nevertheless, MaaS remains a new technology and is susceptible to various technical and economical coercions. Moreover, integration and adoption of new systems in large-scale grid infrastructure is highly complex.

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Microgrid as a Service Market - Industry News:

June 18, ABB is preparing to set up a multipurpose micro grid in Australia.

ABB will supply the Energy Storage for Commercial Renewable Integration with a micro grid solution, this will improve power reliability and enhance the power grid. The power supply provided will be more secure in particular areas and with high renewable penetration in the micro grid.

January 18, The Carlyle Group is putting big money into micro grids.

The Carlyle Group, an American multinational equity, is spending hundreds of dollars to own and operate micro grids. They are taking this step to tackle the industrial financial challenges as other companies won’t have to face this issue to build a micro grid. Dynamic Energy Network (DEN) is deploying Carlyle Group to create the micro grids, this would be a long-term contract.

February 16, Siemens launched a new cost-efficient micro grid software service.

Siemens launched a remote micro grid software service which is cost-efficient and designed for smaller power operators. These operators have experienced better power quality, sustainable power sources and improved grid resilience. This clears away the need to host an IT infrastructure on-site.

Global Microgrid as a Service Market: Segmental Analysis

MRFR’s report also includes a detailed segmental analysis of the market based on industry, service type and grid type. On the basis of industry, the market has been segmented into residential & commercial, military & defense, government and industrial. On the basis of service type, the market has been segmented into operation & maintenance service, monitoring & control service and software as a service. On the basis of grid type, the market has been segmented into remote/islanded and grid connected.

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Global Microgrid as a Service Market: Regional Analysis

In the report, the microgrid as a service market has been covered across regions such as North America, Europe, Asia Pacific (APAC). The MaaS market in APAC is expected to remain highly lacrative during the assessment period. APAC currently holds the largest share of the global Maas market. In is mainly due to the increasing investments made in rural electrification programs in various APAC countries including China and India. Meanwhile, MaaS is also witnessing success in North America. One of the major reasons behind this success is the inclination towards renewable energy in countries such as the U.S. and Canada. The region is expected to remain an important business destination for market player during the forecast period. The energy sector in advanced countries remain focused on increased production rates, safe industrial operations and high-quality power.

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