Microgrid Controller Market projected to reach USD 41.5 Billion by 2032 Top Key Players -Schneider Electric, Emerson, Siemens, GE Power, Sustainable Power Systems, ABB, S&C Electric, Eaton, Schweitzer Engineering Laboratories, Honeywell, Hatch

The global microgrid controller market size is estimated to be USD 5.2 Billion in 2022 and is projected to reach USD 41.5 Billion by 2032, at a CAGR of 23.3% during the forecast period.

Some of the major factors contributing to the growth of microgrid controller market includes the increasing emphasis on decarbonization by end users and governments, optimization of energy assets and improved efficiency of microgrids using microgrid controllers, and growing need for reliable, uninterrupted power supply.
Some of the players that are in coverage of the study are Schneider Electric, Emerson, Siemens, GE Power, Sustainable Power Systems, ABB, S&C Electric, Eaton, Schweitzer Engineering Laboratories, Honeywell, Hatch

Get ready to identify the pros and cons of the regulatory framework, local reforms, and its impact on the Industry. Know how Leaders in Microgrid Controller are keeping themselves one step forward with our latest survey analysis

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Restraints: Dynamic government policies, regulations, and standards worldwide
Microgrid technology, being relatively new, is still too dynamic and volatile for regulatory frameworks. For instance, regulations and policies overseeing the integration of microgrids into the wider grid are still under development. The current framework structure poses some barriers to the acceptance of microgrids. For example, IEEE Standard 1547 requires grid-connected power inverters to shut down on detecting grid faults. This standard is driving R&D on static switches that can disconnect and reconnect in sub-cycle times. Research into standards for the operation of microgrids is being conducted, and a new generation of energy management systems is being designed to meet the challenges, especially the requirements of IEC 61970. Under these circumstances, designing a microgrid controller that can comply with different standards is challenging for manufacturers.

Opportunities: Modernization of aging grid infrastructure
The current energy demand requires an infrastructure that is more robust, resilient, and reliable in achieving high performance and causes fewer outages over a long period. Microgrids will give a huge advantage to the current need for electricity, being a resilient and reliable solution to the old-aged electricity infrastructure. These will present opportunities to the microgrid controller market. Over the next decade, China plans to invest USD 6 trillion in infrastructure as part of its urbanization development plan. These factors will provide huge opportunities for microgrid control system providers like ABB (Switzerland), Schneider Electric (France), and Siemens (Germany).
** Companies reported may vary subject to Name Change / Merger etc.

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Hardware segment to account for largest market share of microgrid controller market during the forecasting period
The key drivers for the growth of the microgrid controller market for the hardware segment include the growing number of microgrid projects worldwide, decreasing costs of energy storage and renewable sources of energy, and increasing government initiatives to promote the use of clean energy and minimize greenhouse gas (GHG) emissions. Microgrids generate electricity from different energy sources such as renewable energy sources (solar, wind, photovoltaic (PV) cells, etc.) and non-renewable energy sources (fuel cells, diesel generators, combined heat and power (CHP) and micro-CHP, microturbines, etc.).

Technology Assessment

Technology dramatically impacts business productivity, growth and efficiency.Technologies can help companies develop competitive advantages, but choosing them can be one of the most demanding decisions for businesses. Technology assessment helps organizations to understand their current situation with respect to technology and offer a roadmap where they might want to go and scale their business. A well-defined process to assess and select technology solutions can help organizations reduce risk, achieve objectives, identify the problem, and solve it in the right way. Technology assessment can help businesses identify which technologies to invest in, meet industry standards, compete against competitors.

Business Ecosystem Analysis

Advancements in technology and digitalization have changed the way companies do business; the concept of a business ecosystem helps businesses understand how to thrive in this changing environment. Business ecosystems provide organizations with opportunities to integrate technology in their daily business operations and improve research and business competency. The business ecosystem includes a network of interlinked companies that compete and cooperate to increase sales, improve profitability, and succeed in their markets. An ecosystem analysis is a business network analysis that includes the relationships amongst suppliers, distributors, and end-users in delivering a product or service.

The remote areas end-use application is expected to account the largest share of the microgrid controller market in 2022
Based on end-use application, the microgrid controller market has been segmented into utilities, commercial & industrial, institutes & campuses, remote areas, military, governments, and healthcare. Key factors driving the demand for microgrids for rural electrification are the growing government support and the surge in the deployment of microgrid projects in remote areas. According to the International Energy Association, ~1 billion people in remote areas worldwide face electricity scarcity due to the high costs of fossil fuels used for electricity generation and challenges in terms of electricity transmission to remote areas. This has led governments of different countries to increase their investments in electricity infrastructures to provide efficient, low-cost, and clean electricity to end users. This, in turn, has led to an increased demand for microgrids from remote areas.

Recent Developments
In March 2022, SEL has introduced two new field-upgradable cards for its SEL-751 Feeder Protection Relay, along with several enhancements that will increase its application range.
In April 2022, Schneider Electric launched the EcoStruxure Energy Hub, a self-service IoT SaaS solution for managing digitalized electrical and energy systems.
In Dec 2021, The National Office of Electricity and Drinking Water (ONEE) in Morocco commissioned Siemens and Atos to collaborate on a large smart grid management project.
In Oct 2021, Eaton Corporation partnered with Enel X (Italy), the Enel Group's advanced energy services business line, for a second joint microgrid project in Puerto Rico.

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To comprehend Microgrid Controller market dynamics in the world mainly, the worldwide Microgrid Controller market is analyzed across major global regions. Customized study by specific regional or country can be provided, usually client prefers below

North America: United States of America (US), Canada, and Mexico.
• South & Central America: Argentina, Chile, Colombia and Brazil.
• Middle East & Africa: Kingdom of Saudi Arabia, United Arab Emirates, Turkey, Israel, Egypt and South Africa.
• Europe: the UK, France, Italy, Germany, Spain, NORDICs, BALTIC Countries, Russia, Austria and Rest of Europe.
• Asia: India, China, Japan, South Korea, Taiwan, Southeast Asia (Singapore, Thailand, Malaysia, Indonesia, Philippines & Vietnam etc) & Rest
• Oceania: Australia & New Zealand
Basic Segmentation Details
Microgrid Controller Product Types In-Depth: Hardware, Software, Services.

Microgrid Controller Major Applications/End users: Government, Utilities, Commercial, Industrial, Educational Institutes, Military & Defense, Healthcare, Others

Geographical Analysis: North America, US, Canada, Mexico, Europe, Germany, France, U.K., Italy, Russia, Nordic Countries, Benelux, Rest of Europe, Asia, China, Japan, South Korea, Southeast Asia, India, Rest of Asia, South America, Brazil, Argentina, Rest of South America, Middle East & Africa, Turkey, Israel, Saudi Arabia, UAE & Rest of Middle East & Africa & Rest of World

For deep analysis of Microgrid Controller Market Size, Competition Analysis is provided which includes Revenue (M USD) by Players (2022-2028) & Market Share (%) by Players (2022-2028) complimented with concentration rate.

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Software segment likely to witness higher growth between 2022 and 2027

Software in a microgrid controller is the core control logic of the whole system, which is programmed to improve the availability of the power system and reduce the amount of energy consumed. A software monitors, predicts, manages, and optimizes energy supply and demand for a microgrid network. Microgrid controller software are designed to integrate microgrid components to allow them to interact efficiently. Microgrid controller software enables communication and control of energy generation sources, energy storage devices, and loads. The use of such software helps simplify technical and economic factors involved in a microgrid project and compare the cost and feasibility of different configurations of hardware; this allows designers to use highly specialized software to model the technical performance of microgrids.

Americas likely to be the largest market for microgrid controller market during the forecast period

In 2021, the Americas accounted for 40% of the microgrid controller market. North America and South America have been studied for the microgrid controller market in the Americas. A number of microgrid developers and government initiatives are supporting the adoption of microgrids in the region, such as the Smart Power Infrastructure Demonstration for Energy Reliability and Security (SPIDERS) program. Microgrids that use fossil fuels as resilience solutions are becoming prevalent in North America. Globally, more than half of all microgrid projects were deployed in the Americas in 2019. Grid-connected microgrids are most common in the US.

Key players in the microgrid controller market include Schneider Electric (France), General Electric (US), ABB (Switzerland), Siemens (Germany), Schweitzer Engineering Laboratories (US), Eaton Corporation (Ireland), Honeywell International (US), Caterpillar Inc. (US), S&C Electric (US), and Power Analytics (US), Cummins Inc. (US), Tesla Energy (US), Homer Energy (US), Spirae (US), Powerhive (US), Advanced Microgrid Solutions (US), Go Electric (US), and Green Energy Corp (US).

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