Press release
Microgrid-as-a-Service (MaaS) Market Set for 15.7% CAGR Growth, Projected at USD 7.83 Bn by 2031 - TMR
Microgrid-as-a-Service (MaaS) Market
Microgrid-as-a-Service is an innovative financing model that enables the deployment of microgrid control systems without upfront capital investment. It minimizes financial risk and operational complexity, promoting the adoption of renewable energy and microgrid solutions. This model is particularly beneficial in mitigating grid instability, power outages, and disruptions due to natural disasters, ensuring energy reliability for institutions and businesses worldwide.
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Market Drivers
1. Government Initiatives for Grid Modernization
o Policies such as feed-in tariffs, tax breaks, and subsidies are encouraging renewable microgrid adoption.
o The U.S. Department of Energy's Smart Grid Investment Grant (SGIG) Program has allocated US$ 4.5 Bn to upgrade power infrastructure, enhancing electricity delivery systems.
2. Rising Smart Device Adoption
o Deployment of smart meters and transmission grids in developing economies is enhancing energy efficiency and grid reliability.
o Advanced monitoring and optimization technologies are reducing power outages and storm impacts.
3. Increased Industrial and Commercial Demand
o Businesses are leveraging microgrid solutions to improve energy security, integrate renewables, and lower operational costs.
o The surge in industrialization and urbanization is escalating demand for decentralized energy solutions.
Future Trends & Market Outlook
• Integration of AI & IoT in Microgrid Systems: AI-driven predictive analytics and IoT-enabled smart grids will optimize energy distribution and consumption.
• Expansion of Peer-to-Peer Energy Trading: Blockchain technology is gaining traction, enabling real-time energy trading within microgrids.
• Growth in Virtual Microgrid Solutions: Digital twin technology and software-defined microgrids will enhance system efficiency and cost-effectiveness.
• Increase in Energy-as-a-Service (EaaS) Models: Companies like Schneider Electric are leading the transition towards subscription-based energy services, reducing dependence on traditional utility grids.
Market Demand
• Increasing demand for resilient, cost-effective, and sustainable energy solutions.
• Rising electricity costs and infrastructure modernization efforts are accelerating adoption.
• Growth in off-grid energy solutions for remote areas is creating new market opportunities.
Key Takeaways
• The MaaS market is set to grow at a CAGR of 15.7% from 2022 to 2031.
• Government policies and grid modernization efforts are accelerating market expansion.
• Grid-connected microgrids dominate with a 78% market share in 2021.
• AI, blockchain, and IoT adoption will revolutionize microgrid operations.
Market Growth Factors
• Increasing Decentralization of Energy Systems
• Growing Investments in Renewable Energy Solutions
• Advancements in Battery Storage and Energy Management Technologies
• Demand for Cost-Effective, Resilient Power Solutions in Remote and Urban Areas
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Market Segmentation
By Type
• Islanded Microgrid
• Grid Connected Microgrid (Dominant with 78% market share)
By Service
• Monitoring & Optimization (Leading segment in 2021)
• System Maintenance & Operations
• Infrastructure Upgradation (Software & Others)
• Training & Other Services
By End-User
• Government & Utility
• Commercial
• Industrial
• Residential
Regional Insights
North America (38% Market Share in 2021)
• Leading due to high infrastructure investments and presence of key market players.
• Government-backed initiatives and advanced energy policies are boosting adoption rates.
Asia Pacific
• Rapid industrialization and urbanization are driving microgrid adoption in commercial and residential applications.
• Government incentives and technology advancements are promoting grid modernization.
Middle East & Africa & South America
• Middle East & Africa hold a larger market share, but South America is expected to grow at a faster pace.
• Expansion in renewable energy projects is fueling demand for microgrid solutions.
Companies Profiled
• ABB
• Aggreko
• AIO Systems Ltd.
• Eaton
• ENGIE
• General Electric
• Green Energy Corp.
• Metco Engineering
• Schneider Electric
• Siemens AG
• Spirae, LLC
• Tech Mahindra
Recent Developments & News
• ABB announced a strategic collaboration with DEIF in February 2021 to enhance renewable energy solutions for land power, marine, and offshore industries.
• Schneider Electric and Temasek launched GreeNext in December 2021, a joint venture aimed at providing solar and battery hybrid microgrid solutions to commercial and industrial sectors.
• Eaton Corporation introduced microgrid solutions for both grid-connected and islanded operations, promoting energy independence and cost savings.
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Frequently Asked Questions (FAQs)
Q1: What is the projected growth rate of the Microgrid-as-a-Service market?
A: The market is expected to grow at a CAGR of 15.7% from 2022 to 2031.
Q2: What factors are driving market growth?
A: Government incentives, increased industrial energy demand, smart grid adoption, and advancements in AI, IoT, and blockchain technology.
Q3: Which region holds the highest market share?
A: North America, with a 38% market share in 2021.
Q4: What are the key trends shaping the future of the Microgrid-as-a-Service market?
A: Peer-to-peer energy trading, AI-driven energy management, virtual microgrid expansion, and Energy-as-a-Service (EaaS) adoption.
Q5: Who are the major players in the market?
A: Green Energy Corp., Schneider Electric, ENGIE, Spirae, LLC, AIO System Ltd., Aggreko, ABB, General Electric, Eaton, Tech Mahindra, Siemens AG, and Metco Engineering.
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About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
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