Global Smart Microgrid Controller Market Size, Share, Trends, COVID-19 Impact & Growth Forecast Report – Segmented By Connectivity (Network Connected & Remote), Offering (Hardware, Software, and Services), Vertical (Government, Utilities, Commercial, Military & Defense, Healthcare) and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Industry Analysis (2024 to 2029)

Updated On: January, 2024
ID: 9994
Pages: 150

Global Smart Microgrid Controller Market Size (2024 to 2029)

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.

MARKET DRIVERS

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

By 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

 

SEGMENTAL ANALYSIS

Global Smart Microgrid Controller Market Analysis 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.

REGIONAL ANALYSIS

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 PARTICIPANTS IN THE GLOBAL SMART MICROGRID CONTROLLER MARKET

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 GLOBAL SMART MICROGRID CONTROLLER MARKET

  • In April 2018, Schneider Electric introduced its EcoStruxure for Energy Access, a comprehensive microgrid project measurement, analysis, and reporting solution.

  • In February 2018, GE worked with the Arenko Group (UK) to build grid-scale energy storage systems in the UK. Arenko has funded a 41 MW battery energy storage system that GE developed.

  • In March 2017, Schneider Electric signed a tripartite agreement with ENGIE Lab (Singapore) and Nanyang University of Technology (Singapore) to meet the energy access challenge for off-grid areas in Asia-Pacific.

DETAILED SEGMENTATION OF THE GLOBAL SMART MICROGRID CONTROLLER MARKET INCLUDED IN THIS REPORT

This research report on the global smart microgrid controller market has been segmented and sub-segmented based on the connectivity, offering, vertical, and region.

By Connectivity

  • Network Connected

  • Remote

By Offering

  • Hardware

  • Software

  • Services

By Vertical

  • Government

  • Utilities

  • Commercial

  • Industrial

  • Educational institutes

  • Military and Defense

  • Healthcare

  • Others (small residential communities, municipalities, and villages)

By Region

  • North America

    • The United States

    • Canada

    • Rest of North America

  • Europe

    • The United Kingdom

    • Spain

    • Germany

    • Italy

    • France

    • Rest of Europe

  • The Asia Pacific

    • India

    • Japan

    • China

    • Australia

    • Singapore

    • Malaysia

    • South Korea

    • New Zealand

    • Southeast Asia

  • Latin America

    • Brazil

    • Argentina

    • Mexico

    • Rest of LATAM

  • The Middle East and Africa

    • Saudi Arabia

    • UAE

    • Lebanon

    • Jordan

    • Cyprus

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Frequently Asked Questions

What factors are driving the growth of the smart microgrid controller market worldwide?

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.

How does government policy impact the global smart microgrid controller market?

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.

What role do renewable energy sources play in the adoption of smart microgrid controllers globally?

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.

How is the market addressing cybersecurity concerns associated with smart microgrid controllers?

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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