Microgrid As A Service (Maas) Market market is expected to reach US$ 9.23 Bn by the end of 2032 key developmental strategies implemented by the key players:ABB, General Electric, Siemens, Eaton, Exelon, Nrg Energy, Pareto Energy, Spirae, Anbaric Transmiss

The global microgrid-as-a-service market was valued at US$ 2.85 Bn in 2021
It is estimated to advance at a CAGR of 19.34% from 2022 to 2032
The global microgrid-as-a-service market is expected to reach US$ 9.23 Bn by the end of 2032
Analysts' Viewpoint on Microgrid-as-a-Service Market Scenario

Companies operating in the microgrid-as-a-service market are focused on business expansion in commercial, industrial, residential, and other high-growth sectors to enhance their share post COVID-19 pandemic. Surge in consumption of electricity and adoption of solar- and wind-based energy is expected to boost the demand for microgrid systems across the globe.

In addition, the Global Microgrid As A Service (Maas) market study also covers several factors such as market status, key market trends, growth forecast, and growth opportunities. Furthermore, we analyze the challenges faced by the Global Microgrid As A Service (Maas) market in terms of global and regional basis.

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Key Players Mentioned in the Global Microgrid As A Service (Maas) Market Research Report: ABB, General Electric, Siemens, Eaton, Exelon, Nrg Energy, Pareto Energy, Spirae, Anbaric Transmission, Solarcity, Green Energy

Global Microgrid As A Service (Maas) Market Segmentation:

Microgrid As A Service (Maas) Market Types:

Grid Connected, Remote or Islanded.

Microgrid As A Service (Maas) Market Applications:

Government & Education, Residential & Commercial, Industry, Military, Public Utilities

Surge in Adoption of Smart Devices to Fuel Global Microgrid-As-A-Services Market
Several developing countries have deployed smart meters in residential, commercial, and industrial sectors. The number of substations and transmission grids has also increased significantly in these countries. Use of innovative technologies, equipment, and controls in these grids has greatly minimized power outages, reduced storm impacts, and restored services faster when outages occur. Thus, a surge in adoption of smart devices is expected to propel the global microgrid-as-a-services market.

Microgrid solution for commercial and industrial applications also provide various benefits such as improved security, robust integration of renewables in grids, reduced peak loads, and minimized operational costs. However, factors such as absence of adequate training programs and low awareness about advantages of a microgrid-as-a-service are expected to hinder the market.

Flexibility and Ability to Share or Sell Unused Energy Boost Demand for Grid Connected Microgrid
In terms of type, the global microgrid-as-a-service market has been segregated into islanded microgrid and grid connected microgrid. The grid connected microgrid segment held the highest share of 78% in 2021.

Microgrid is developed to provide a balanced combination of generation and usage for stable and clean energy supply. It is widely used in remote areas such as islands. However, these microgrids are currently becoming cost-effective in urban areas, as solar panels and batteries have become cheaper.

Grid connected microgrids are flexible, as they allow to share or sell unused energy. These microgrids improve the operation and stability of regional electric grids. In a grid connected microgrid, the microgrid works in parallel with the grid, either as the primary or secondary power source. A switching mechanism at the point of coupling enables the microgrid to disconnect from the utility grid and work in island mode. Moreover, it can reconnect to the regional grid when required.

Rise in Demand for Monitoring & Optimization Services to Develop Sustainable Power Grid
In terms of service, the global microgrid-as-a-service has been classified into monitoring & optimization, system maintenance & operations, infrastructure upgradation (software & others), training, and others. Among these segments, monitoring & optimization held the highest share in the market in 2021.

Microgrid-as-a-service provides monitoring & optimization services to optimize the economic performance of grids. AIO Systems Ltd is one of the major players in the market, offering microgrid management solutions for energy sources, energy status, energy supply, and energy storage. Additionally, the company provides integrated optimal designable software and control hardware solutions for the generation and distribution of electrical energy as well as monitoring and controlling microgrids. These solutions are used to monitor system displays and record real-time information from all assets including current capacity, storage levels, and standby status.

Regional Outlook of Global Microgrid-as-a-Service Market
North America held a prominent share of approximately 38% of the global market. The microgrid-as-a-service market in the region is expected to grow significantly in the next few years. Presence of major players and high investment in infrastructure development are likely to augment the market in the region.

Asia Pacific accounted for the second-largest share of the global market, owing to rapid industrialization and urbanization in the region. Adoption of microgrid-as-a-service for residential and commercial applications is increasing in the region. Favorable government regulations are also augmenting the adoption of advanced technologies for grid modernization. These factors are driving the market in Asia Pacific.

Middle East & Africa is a larger market for of microgrid-as-a-service as compared to the South America; however, the market in South America is estimated to grow at a rapid pace as compared to the market in Middle East & Africa.

Analysis of Key Players in Global Microgrid-As-A-Service Market
The global microgrid-as-a-service market is consolidated, with a small number of large-scale vendors controlling majority of the market share. Key players are focused on adoption of various strategies such as investments in R&D, product launches, and mergers & acquisitions to enhance their microgrid as a service market share. Green Energy Corp., Schneider Electric, ENGIE, Spirae, LLC, AIO System Ltd., Aggreko, ABB, General Electric, Eaton, Tech Mahindra, Siemens AG, and Metco Engineering are the prominent entities operating in this market.

Microgrid as a Service Market Trends 2022
Major players in the market are focused on providing cost-saving solutions. Schneider Electric provides Energy-as-a Service (EaaS) - a financing model for microgrids that allows to avoid upfront costs. The company also provides various types of tools such as microgrid advisor, microgrid operation, and grid-tie string inverter.

Furthermore, major players are contributing to market growth through new product launches. ABB provides comprehensive solutions to seamlessly integrate the microgrid into the grid and to control and manage every aspect efficiently. Moreover, the company provides technical expertise and consultancy that are necessary to plan, design, develop, and operate microgrids efficiently. It becomes easier to manage, and control the assets on-site and remotely, as utilities digitize the grid. Likewise, Eaton Corporation provides microgrid solutions to both grid-connected and islanded operations. The solutions help companies facilitate electrical energy savings, resiliency, and independence from a utility.

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Impact of COVID-19

The effect of the COVID-19 outbreak at the Microgrid As A Service (Maas) market is investigated on this exam. Furthermore, there is a wealth of information available approximately the COVID-19 pandemic market's capacity and present-day effect. The studies consist of a radical examination of the previous market in addition to an assessment of potential opportunities over the forecast period 2022-2029.

Table of Contents:

1 Study Coverage

2 Market by Type

3 Market by Application

4 Global Microgrid As A Service (Maas) Competitor Landscape by Company

5 Global Microgrid As A Service (Maas) Market Size by Region

6 Segment in Region Level & Country Level

7 Company Profiles

8 Industry Chain and Sales Channels Analysis

9 Research Findings and Conclusion

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