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Microgrid Monitoring System Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025

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Increasing global demand for energy spurred by rapid industrialization and economic growth is expected to be one of the major growth drivers of the global micro grid monitoring market. To achieve the goal of energy security, governments across the world are investing in sustainable energy development projects.

The micro grid power generation system consists of grouping of generating sources and end-use sinks that are placed and operated for the benefit of its members. Power can be generated through solar cell panels, grid inverters, wind power generation systems and intelligent switches. Furthermore a microgrid provides numerous economic, technical, environmental, and social benefits to the stakeholders of the microgrid. Economic and technical benefits offered by microgrids include improved power quality and reliability, reduced emissions, and improved energy efficiency. A shift towards renewable or low-emission fuels is one of the major environmental benefits, which can be achieved through the deployment of microgrids. Several social benefits of microgrids include: electrification of remote or underdeveloped areas and creation of new research and development projects and job opportunities. 

The burgeoning demand for power, along with an increased need for secure, reliable, and emission-free power propels the demand for microgrids. The advantage of energy storage technology has enabled microgrids to work independently. As a result, microgrids can be installed in remote geographical locations, which are not connected to the main grid. Currently, microgrids are used by militaries, universities, and commercial and industrial users to provide primary or backup power. Increasing power outages, fluctuating cost, and supply of fossil fuels and concerns related to energy security have encouraged users to incorporate renewable energy generation into their energy portfolios.

Increase in demand for power coupled with rise in clean technologies has driven researchers to develop distributed power generation systems using renewable energy sources. This has further increased apprehensions towards the monitoring system which monitors the real time running status of all equipment, and controls them according to the safe and stable operation requirements.  The microgrid monitoring system can be further divided into hardware and software systems. The hardware type monitoring system includes equipment for communication, control interface, and Industrial personal computers. The software type includes LabVIEW programming software, which is based on a data flow graphical development platform.

Based on region, the microgrid monitoring system market can be classified into North America, Latin America, Europe, Middle East & Africa, and Asia Pacific. Asia Pacific is expected to dominate the microgrid monitoring system market during the forecast period due to the rise in demand for automated grid system and enhancement in microgrid connectivity through the integration of IoT activities. Various policy support for exploration could boost the investments in the market. The microgrid monitoring system market in countries such as China, India, Japan, Vietnam, Malaysia, Thailand, and Australia is likely to witness significant growth during the forecast period. North America holds the major share of the global microgrid monitoring system market, led by the strong support for microgrid development from the U.S. and Canadian governments. Additionally, various large players and startups in the region are investing significantly for technological enhancement of microgrid.

Key players operating in the Microgrid Monitoring System Market are ABB, General Electric, Eaton Corporation, Siemens AG, Exelon Corporation, and Schneider Electric, Caterpillar Inc., Power Analytics Corporation, HOMER Energy LLC, and S&C Electric Company.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
  • Eastern Europe (Poland and Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
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