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Global Smart Microgrid Market: Overview

The global market for smart microgrids, miniature versions of the existing large and messy centralized electricity system, is fragmented with the presence of diversified international and regional players. This is because microgrids need not be owned or run by a utility company and can be built, owned, and operated by a community, neighborhood, university, corporation, hospital, individual or any other entity that has legal authority over their power infrastructure, including power lines, generation source, and meters. While the well-established names in the market supply specialized and sophisticated microgrids whose technologies can be customized, the local or regional microgrid companies are also doing brisk business due to the increased emphasis on energy security. Going forward, the competition in the market will heat up on account of the pressing need for energy security.

Depending upon its different applications, the global smart microgrid market has been divided into community, commercial, industrial, military, institutional, and remote systems. The global market for smart microgrid will reach a value of US$35.1 bn by 2020. 

Global Smart Microgrid Market: Trends and Opportunities

At the forefront of driving demand in the global smart microgrid market is the rising clamor for reliable power sans harmful emissions. Other factors propelling the growth of the global smart microgrid market are cyber threats to electricity infrastructure and emphasis on minimizing the electricity transmission and distribution losses. Smart microgrid solution enables on-site energy generation and storage, thus bringing down the risk of a major power loss on account of an accident and also helps lower related costs.

Going forward, improved energy efficiency of microgrid installations, integrated renewable power generation, higher demand, and greater security requirement for critical power infrastructure protection are predicted to boost demand further. Countering the growth in the market are IT challenges facing grid operators, such as dearth of common operational support infrastructure, heterogeneous devices, and protocol landscape. Other factors negatively impacting the market are steep investment in microgrid technologies and inadequate regulatory norms to underpin deployment of microgrid deployment.

Global Smart Microgrid Market: Region-wise Outlook

North America, powered by the U.S., holds a dominant share in the global market for smart microgrids due to the favorable initiatives undertaken by different universities, hospitals, data centers, and other institutions at a local level. In the next couple of years, the market in Europe is slated to see solid growth on account of rising demand for smart microgrids. This uptick in demand would be fuelled by the initiatives to upgrade a messy, aging infrastructure and integrating renewable energy sources of power generation. Growth in the Asia Pacific market would be stimulated by past pace of electrification in rural pockets in China, India, and Malaysia.

Companies Mentioned in the Research Report:

Prominent players operating within the global smart microgrid market include ABB Group, Echelon Corporation, AEG Power Solutions, Honeywell Inc., General Electric, Phono Solar Technology Co. Ltd., and Siemens AG.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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