The global intelligent microgrid controller market is predicted to grow from USD 10.92 billion in 2024 and 22.59 billion by 2029, growing at a CAGR of 15.65% during the forecast period.
A microgrid is a contiguous section of the network made up of interconnected Distributed Energy Resources (DER) and loads under common control. DERs can distribute renewables, storage devices, generators, electric vehicles, and demand response. Smart Microgrid controls can optimize DER power and loads to provide reliable and cost-effective operation for end users without human intervention. As part of the study, remote and network-connected microgrid controllers were included. The use of microgrid controllers has been considered by the main end users, such as communities, commercial/industrial companies, public service companies, and educational institutions, among others.
The growing demand for microgrids drives the growth of this market, the shift towards using renewable energy sources, and the reduction of the carbon footprint. This growth is due to its crucial role in monitoring, forecasting, managing, and optimizing energy supply and demand for a micro-grid network. Grid-connected microgrids are more reliable than isolated microgrids because they are connected to significant utility grids.
The intelligent microgrid controller is a connected grid installed to supply power per the requirements of the appropriate end-user. The micro sources can act as a current source with the maximum capacity for energy transfer to the grid. Due to its economical function, most homeowners and small businesses prefer the grid-connected microarray controller to meet their power needs. Panasonic implemented and introduced a hybrid urban microgrid system with entire solutions needed for the market India. Integrated solar microgrids incorporate efficient, reliable, intelligent energy storage solutions to drive adoption in urban residential and commercial areas. The solution enables network interaction, remote monitoring, data analysis, and optimization of power consumption.
In addition, in September 2019, SimpliPhi Power, a manufacturer of energy storage systems, collaborated with Heila Technologies on a scalable, distributed smart microgrid that combines household power into a virtual power plant. Heila Technologies is a software and hardware developer integrating multiple microgrid storage and generation assets to provide a dynamic platform aggregating multiple SimpliPhi battery systems cited by customers in a virtual power plant. An integrated microgrid intelligent controller maintains network stability and operational endurance at a lower cost. An intelligent microgrid controller automates the control of all microgrid components to meet energy demand and maintain stable operating conditions with minimal intervention from operational and human resources personnel. Control software maximizes electrical reliability, integrates renewable energy, or reduces emissions. In April 2020, HOMER Energy, recently launched by UL, introduced two powerful and customizable API controllers, allowing users to create and simulate their shipping strategy in HOMER Grid software to model distributed power system design behind the counter.
REPORT COVERAGE:
REPORT METRIC |
DETAILS |
Market Size Available |
2023 to 2029 |
Base Year |
2023 |
Forecast Period |
2024 to 2029 |
CAGR |
15.65% |
Segments Covered |
Connectivity, Offering, Vertical, and Region |
Various Analyses Covered |
Global, Regional, & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
Market Leaders Profiled |
Schneider Electric, General Electric, ABB, Siemens, Schweitzer Engineering Laboratories, Eaton Corporation, Honeywell International, Lockheed Martin, S&C Electric, Power Analytics and other market players |
This research report on the global smart microgrid controller market has been segmented and sub-segmented based on the connectivity, offering, vertical, and region.
Global Smart Microgrid Controller Market - By Connectivity:
Of these, the network-connected segment accounted for the dominant portion in the previous years, which is likely to expand with a notable growth rate in the coming years.
Global Smart Microgrid Controller Market - By Offering:
Global Smart Microgrid Controller Market - By Vertical:
Global Smart Microgrid Controller Market - By Region:
Asia-pacific accounted for a significant share of the worldwide smart microgrid controller market. Also, the North America and Europe regions are expected to grow due to the progressions in the industrial sector and energy infrastructure in several nations in the region.
KEY MARKET PARTICIPANTS:
Companies playing a major role in the global smart microgrid controller market include Schneider Electric (France), General Electric (USA), ABB (Switzerland), Siemens (Germany), Schweitzer Engineering Laboratories (USA), Eaton Corporation (Ireland), Honeywell International (United States), Lockheed Martin (United States), S&C Electric (United States), Power Analytics (United States).
RECENT HAPPENINGS IN THE MARKET:
Frequently Asked Questions
The market is primarily driven by the increasing demand for reliable and efficient energy solutions, rising concerns about energy security, and the integration of renewable energy sources into the power grid.
Government policies promoting clean energy and sustainable development, along with financial incentives for adopting smart grid technologies, play a crucial role in driving the growth of the global smart microgrid controller market.
The integration of renewable energy sources, such as solar and wind, is a key driver for the adoption of smart microgrid controllers, as they enable efficient management and optimization of power generated from diverse sources.
Industry stakeholders are investing in robust cybersecurity measures, such as encryption technologies and secure communication protocols, to mitigate potential risks and ensure the resilience of smart microgrid systems.
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