Micro-Grid Controller Market 2020 Provides an In-Depth Insight of Sales Analysis, Growth Forecast and Upcoming Trends

 

Micro-Grid Controller Market will reach USD 12.1 billion by 2025. The reports forecast the micro grid controller market by connectivity type, offering, end use industry and region. It highlights COVID-19 impact on the micro grid controller industry.

 

Description:

Micro-Grid Controller Market: by Connectivity Type (Grid Connected, Off Grid/Remote/Islanded, Hybrid), by Offering (Hardware, Software, Services), by End-Use Industry (Government, Utilities, Commercial, Industrial, Educational Institutes, Military & Defence, Healthcare, Small residential communities, townships, and villages) and by Region – Global Industry Sizing, Growth, Trend, Opportunity, and Forecast (2020–2025)

 

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Micro-grid controller market report covers a thorough analysis of the market dynamics, business models, segmental/regional analysis, and respective market shares and strategies adopted by the key market players operating in the global market. It entails an in-depth analysis of the factors influencing the global market and market statistics indicating region wise and segment-wise market share/growth analysis. The report's study will outlook one of the most exhaustive analyses of the market, capturing all the aspects of the micro-grid controller industry.

 

Micro-Grid Controller Market: Introduction

The micro-grid controller market is expected to register a CAGR of 15.3% during the forecast period, 2020-2025, and reach 12.1 billion in 2025. The software segment's growth is attributed to its essential role in tracking, monitoring, forecasting, managing, controlling, and maximizing energy supply and demands for a micro-grid network. Micro-grid infrastructure has been majorly adopted in the military and defense sector, enabling buildings or bases to stay functioning on their power while the grid goes down. Further, the advantage of being a cost-effective alternative has led most households and small-sized enterprises to prefer micro-grid networks to satisfy their power requirements. These factors will expand the micro-grid controller market.

Factors Affecting the Micro-grid Market over the Forecast Period

•    Rising global demand for micro-grid for stable, reliable, and protected power supply is the key driver of the micro-grid controller market
•    Optimization of energy and increased performance of micro-grids using micro-grid controllers is boosting the market growth. 
•    The industry's growth is fuelled by government investment to improve its operational efficiency.  
•    Smart city projects in developing regions and the upgradation as well as modernization of aging grid infrastructure further offer growth opportunities for the micro-grid controller market.
•    High installation cost and constant maintenance requirement for the micro-grid controller system is the key restraint for the global micro-grid controller market. 
•    The need for skilled and professional worker for maintenance is also hindering the market growth. 
•    Owing to many components and devices, interoperability and compatibility issues pose many challenges for the global micro-grid controller market. 

 

The COVID-19 Impact on the Micro-Grid Controller Market

The COVID-19 pandemic has disrupted the global micro-grid controller market. Several companies and firms have been forced to reconstruct their policies and plans due to the COVID-19 pandemic. However, due to production disparities and global economic issues, the companies are postponing their plans. The proliferation of COVID-19 across the globe has contributed to supply chain disturbances across ecosystems, including the micro-grid controller market.

 

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Scope of the Report

The report outlines the study of the global micro-grid controller market on the basis of connectivity type, offering, and end-use industry.

Based on the type of connectivity, the micro-grid controller market has been segmented into –

•    Grid Connected
•    Off Grid/Remote/Islanded
•    Hybrid 

Based on the offering, the micro-grid controller market has been segmented into –

•    Hardware
•    Software
•    Services

Based on the end-use industry, the micro-grid controller market has been segmented into –

•    Government
•    Utilities
•    Commercial
•    Industrial
•    Educational Institutes
•    Military & Defence
•    Healthcare
•    Small residential communities, townships, and villages

 

Micro-Grid Controller Market: Geographical Outlook

The global micro-grid controller market has been segmented into five geographical regions, namely, North America, Asia Pacific, South America, Europe and the Middle East and Africa (MEA). North America followed by Europe and Asia Pacific, has the largest share in the global micro-grid controller market. North America dominates the global market owing to the high concentration of market leading firms and abundance of proficient technological expertise. Moreover, Asia Pacific is the fastest-growing region is projected to show the highest CAGR in the global market.

 

Key Competitors Operating in the Global Micro-grid Controller Market

The global micro-grid controller is fairly concentrated across the globe. The key players operating in the global Micro-grid controller market include – 

•    Schneider Electric
•    General Electric Company
•    ABB Limited
•    Siemens
•    Schweitzer Engineering Laboratories
•    Eaton Corporation
•    Honeywell International Incorporated
•    Lockheed Martin Corporation

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