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Home>Microgrid Market - Global Forecast to 2022 - High Adoption of Software Across University Campuses - Research and Markets

Microgrid Market - Global Forecast to 2022 - High Adoption of Software Across University Campuses - Research and Markets

Microgrid Market - Global Forecast to 2022 - High Adoption of Software Across University Campuses - Research and Markets

09/28/2017

Microgrid Market - Global Forecast to 2022 - High Adoption of Software Across University Campuses - Research and Markets

The "Microgrid Market - Global Forecast to 2022" report has been added to Research and Markets' offering.

The microgrid market was valued at USD 16.58 Billion in 2015 and is expected to reach USD 38.99 Billion by 2022, at a CAGR of 12.45% during the forecast period. Many countries are focusing on innovations, and expansions are being carried out through rural electrification projects, which would help increase the demand for microgrid systems in the coming years.

The microgrid market has been segmented on the basis of offering into hardware, software, and services. The market for software is expected to grow at the highest CAGR during the forecast period. This growth is attributed to the high adoption of software across university campuses, industrial and commercial sites, municipalities, and utilities. Software as a service platform allows microgrid operators to dynamically manage and control distributed energy resources with integrated weather and load forecasting.

The microgrid market has been segmented on the basis of connectivity into grid connected and remote/island. The key reasons for the high growth of remote microgrids are heavy decline in prices of solar PV and wind power sources, drop in the cost of power generation compared with centralized power grids, and other environmental benefits such as less heat generation and smog.

Companies Mentioned

  • ABB Ltd.
  • Advanced Microgrid Solutions
  • Caterpillar Inc.
  • Eaton Corporation PLC
  • Exelon Corporation
  • General Electric
  • General Microgrids, Inc.
  • Green Energy Corp.
  • Homer Energy LLC
  • Power Analytics Corporation
  • S&C Electric Company
  • Schneider Electric
  • Siemens AG
  • Steama Co., Ltd.
  • Tesla Motors Inc.
  • Viridity Energy, Inc.

Key Topics Covered:

1 Introduction

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