Microgrid Controller Market

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MarketsandMarkets Research Private Ltd.
Presents
Microgrid Controller Market worth 12.6 billion
by 2024
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icrogrid-controller-market-103650618.html
2
According to the latest market research report
"Microgrid Controller Market by Connectivity
(Grid connected Remote), Offering (Hardware,
Software, and Services), Vertical (Government,
Utilities, Commercial, Military Defense,
Healthcare) and Geography - Global Forecast to
2024", The microgrid controller market is
expected to grow from USD 6.1 billion in 2019 to
USD 12.6 billion by 2024, at a CAGR of 15.65
during the forecast period. One of the major
driving factors for the microgrid controller
markets growth is the rising adoption of
microgrids for reliable and secure power supply.
Browse gtgt 64 Market data
tables 50 figures
151 pages and in-depth TOC on
Microgrid Controller Market https//www.market
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Based on offering, hardware is expected to
account for the major share of the microgrid
controller market during the forecast
period. Microgrid controllers consist of
hardware, software, and services. Hardware
includes generation optimizers, local
controllers, supervisory controllers,
communications network, and human machine
interfaces. The expected largest market share of
hardware is attributed to the high cost of
components such as generation optimizers, HMIs,
and intelligent controllers. Grid connected
microgrids are expected to grow at a higher CAGR
in the global microgrid controller
market. Microgrids mainly operate in 2 modes
connected with the main grid (grid connected) or
isolated (off grid/remote). In a grid connected
microgrid, power transmission is dependent on the
main grid whereas isolated microgrids generate
their own power without any connection with a
utility grid. Grid connected microgrids have
higher reliability than remote/island microgrids
owing to their connection with power grids.
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icrogrid-controller-market-103650618.html
4
Microgrid controller market in APAC is expected
to grow at the highest CAGR from 2019 to
2024. Globally, the microgrid controller market
in APAC is expected to grow at the highest CAGR
during the forecast period. APAC is one of the
most important potential markets for microgrid
controller systems. The regions electricity
demand is growing faster than the expansion of
conventional electricity grids. The development
of the industrial sector and power infrastructure
in several of the regions countries provide
significant growth opportunities to local as well
as global market players. Schneider Electric
(France), General Electric (US), ABB (US),
Siemens (Germany), Schweitzer Engineering
Laboratories (US), Eaton Corporation (Ireland),
Honeywell International (US), Lockheed Martin
(US), SC Electric (US), and Power Analytics (US)
 are the major players in the microgrid
controller market.
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icrogrid-controller.asp
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