Global Microgrid Monitoring Market In-depth Research Report, Competitive Dynamics and Forecast 2023 by Exelon, Homer Energy, SEL, S&C Electric Company, Enercon, Schneider SE, Caterpillar and Eaton

The global microgrid monitoring market is projected to grow at a high rate during the forecast period, mainly due to the rise in renewable energy generation. According to IEA, renewable electricity is set to grow 40% globally by 2022. A further 920 GW of renewable capacity would be installed by 2022 which would drive the microgrid monitoring market globally.

Microgrid Monitoring helps in monitoring real-time operations of the grid. They control all the equipment according to safe and stable operational requirements. The real-time monitoring is mainly done through hardware and software components to gather equipment information. Microgrid monitoring helps in energy conservation and improves the reliability of power supply.

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Increasing grid installation activities and focus on clean source of energy would drive the microgrid monitoring market. South East Asia is planning to invest USD 9.8 billion in smart grid infrastructure which would result in high levels of microgrids and battery storage market growths. Similarly, Vattenfall (Sweden) is planning to invest USD 2.3 billion from 2019 to 2024 to renew and expand electricity grid. Such developments would in turn have a positive impact on the microgrid monitoring market.

Key Players

The key players of global microgrid monitoring market are General Electric (US), Exelon Corporation (US), Power Analytics Corporation (US), Homer Energy (US),SEL (US), S&C Electric Company (US), Siemens AG (Germany), Enercon (Germany), ABB (Switzerland), Schneider SE (France), Caterpillar, Inc. (US), and Eaton (Ireland).

Segmentation

Global microgrid monitoring market has been segmented based on type, product, application, and region.

Based on product, the market is classified into hardware and software. Hardware segment is leading the market as its usage is increasing significantly to efficiently monitor real-time events of a microgrid system.

The global microgrid monitoring market is further segmented based on application, including, military, government & utilities, telecom, healthcare, and others.

The product segment, the market is segmented as hardware and software. Hardware segment is expected to have a larger market share during the forecast period.

Regional Outlook

Asia Pacific is estimated to be a prominent region for microgrid monitoring market due to rise in industrialization and urbanization. Similarly, awareness about energy conservation and the need for providing uninterrupted supply of electricity to people in Europe and North America are projected to drive the microgrid monitoring systems market in the coming years. Moreover, North America held the second largest market share in microgrid monitoring in 2017. It has presence of large number of microgrid providers. In January 2017, National Instruments (NI) opened an Industrial Internet of Things (IIoT) lab in Austin, Texas, where companies work together and experiment with solutions.

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Table Of Contents

1. Executive Summary

2. Market Introduction

2.1. Market Definition

2.2. Scope Of The Study

2.3. Market Structure

3. Research Methodology

3.1. Primary Research

3.2. Secondary Research

3.3. Market Size Estimation

3.4. Forecast Model

3.5. List Of Assumptions

4. Market Dynamics

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List Of Figures

Figure 1 Research Process Of MRFR

Figure 2 Top-Down & Bottom-Up Approach

Figure 3 Market Dynamics

Figure 4 Impact Analysis: Market Drivers

Figure 5 Impact Analysis: Market Restraints

Figure 6 Porter's Five Forces Analysis

Figure 7 Value Chain Analysis

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