Global Microgrid as a Service Market Size study & Forecast, by Grid Type (Grid Connected, Remote/Islanded) by Vertical (Government & Education, Residential & Commercial, Industrial, Military, Utility) by Service Type (Engineering & Design Service, Softwar

Global Microgrid as a Service Market Size study & Forecast, by Grid Type (Grid Connected, Remote/Islanded) by Vertical (Government & Education, Residential & Commercial, Industrial, Military, Utility) by Service Type (Engineering & Design Service, Software as a Service (SaaS), Monitoring & Control Service, Operation & Maintenance Service) and Regional Analysis, 2023-2030

Global Microgrid as a Service Market is valued approximately at USD 2,241.6 million in 2022 and is anticipated to grow with a healthy growth rate of more than 15.86% over the forecast period 2023-2030. Microgrid as a Service is a model in which a third-party provider offers comprehensive microgrid solutions to customers. Instead of owning and managing a microgrid infrastructure, customers can subscribe to the services provided by the MaaS provider. The Microgrid as a Service market is expanding because of factors such as rising demand for microgrids and increasing rate of urbanization. As a result, the demand of Microgrid as a Service has progressively increased in the international market during the forecast period 2023-2030.

Microgrid as a Service providers leverage advanced technologies for monitoring, control, and optimization of microgrid systems. These capabilities help organizations maximize energy efficiency, reduce operational costs and optimize the use of distributed energy resources. As energy efficiency becomes a priority, the demand for MaaS solutions that deliver these benefits continues to grow. According to Statista, the global microgrid market accounted USD 14.3 billion in 2021 and is projected to reach up to USD 43.9 billion by 2028. Another important factor driving the Microgrid as a Service market is increasing rate of urbanization. Urban areas experience challenges in grid reliability due to aging infrastructure, increased energy demand, and vulnerability to natural disasters. Microgrids can provide a decentralized and more resilient alternative, ensuring a stable energy supply during grid disruptions. In addition, according to Statista, the global urbanization rate accounted 57% in 2022. North America has the highest rate of urbanization, with more than four fifths of the population living in cities. Moreover, rising integration of behind-the-meter microgrid virtual batteries for energy storage and growing electrification among rural areas is anticipated to create a lucrative growth opportunity for the market over the forecast period. However, complexities associated to design of large-sized microgrids and absence of adequate training programs is going to impede overall market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Microgrid as a Service Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 with largest market share owing to the high-quality power requirements and increasing rate of urbanization in the region. Industries, businesses, and critical facilities demand a stable and reliable power supply to avoid disruptions in their operations. Microgrids, with their ability to operate independently or in conjunction with the main grid, enhance reliability by providing a backup power source during grid outages or disturbances. MaaS providers ensure that the microgrid infrastructure meets high-quality power standards, making them a dependable solution for customers. The region’s dominant performance is anticipated to propel the overall demand of Microgrid as a Service. Furthermore, Asia Pacific region is expected to grow at the fastest CAGR during the forecast period, owing to factors such as rising electrification among rural areas in the region. Traditional grid expansion to rural areas can be economically challenging due to the vast and remote nature of these locations. Microgrids, especially when offered as a service, provide a cost-effective alternative. MaaS providers can design, install, and manage microgrids, allowing rural communities to access electricity without the need for significant upfront investments.

Major market player included in this report are:
General Electric Corporation
Eaton Corporation PLC
Siemens AG
Pareto Energy
Spirae, Inc
Green Energy Corporation
Northern Power Systems Corp
Tech Mahindra Limited
ABB Ltd
Engie SA

Recent Developments in the Market:
 In May 2023, Schneider Electric, a pioneer in the digital transformation of energy management and automation, introduces EcoStruxure Microgrid Flex—an unprecedented, standardized microgrid solution poised to streamline project timelines and amplify returns on investment. As the demand for microgrids escalates to address the anticipated 40% share of distributed energy resources in US electricity generation by 2050, EcoStruxure Microgrid Flex revolutionizes the landscape. This innovative solution is meticulously designed to curtail the extensive engineering hours and meticulous configuration, planning, and deployment efforts currently associated with microgrid systems, promising a more efficient and cost-effective journey for stakeholders.

Global Microgrid as a Service Market Report Scope:
 Historical Data – 2020 - 2021
 Base Year for Estimation – 2022
 Forecast period - 2023-2030
 Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
 Segments Covered - Grid Type, Vertical, Service Type, Region
 Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:

by Grid Type
Grid Connected
Remote/Islanded

by Vertical
Government & Education
Residential & Commercial
Industrial
Military
Utility

by Service Type
Engineering & Design Service
Software as a Service (SaaS)
Monitoring & Control Service
Operation & Maintenance Service

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Companies Mentioned
General Electric Corporation
Eaton Corporation PLC
Siemens AG
Pareto Energy
Spirae, Inc
Green Energy Corporation
Northern Power Systems Corp
Tech Mahindra Limited
ABB Ltd
Engie SA

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