The global microgrid monitoring market is projected to grow at a high rate during the forecast period, mainly due to the rise in renewable energy generation. According to IEA, renewable electricity is set to grow 40% globally by 2022. A further 920 GW of renewable capacity would be installed by 2022 which would drive the microgrid monitoring market globally. Microgrid Monitoring helps in monitoring real-time operations of the grid. They control all the equipment according to safe and stable operational requirements. The real-time monitoring is mainly done through hardware and software components to gather equipment information. Microgrid monitoring helps in energy conservation and improves the reliability of power supply.
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The key players of the global microgrid monitoring market are General Electric (US), Exelon Corporation (US), Power Analytics Corporation (US), Homer Energy (US), S&C Electric Company (US), Siemens AG (Germany), SEL (US), Enercon (Germany), ABB (Switzerland), Schneider SE (France), Caterpillar, Inc. (US), and Eaton (Ireland).
Microgrid Monitoring Market Segmental Analysis
- Institutions & Campuses
- Commercial & Industrial
- North America
- Middle East & Africa
- South America
Microgrid Monitoring Regional Market Analysis:
Region wise, Asia Pacific held the largest market share of the global microgrid monitoring market in 2017. It is estimated that Asia-Pacific region would be the fastest growing market during the forecast period, mainly due to the increase in grid installations and rise in electricity generation from renewable sources. Over the years, China has become a strategic center for the development of microgrid monitoring systems. This is projected to boost demand for microgrid monitoring systems in Asia Pacific during the forecast period.
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Table of Contents
1. Executive Summary
2. Market Introduction
2.1. Market Definition
2.2. Scope of The Study
2.3. Market Structure
3. Research Methodology
3.1. Primary Research
3.2. Secondary Research
3.3. Market Size Estimation
3.4. Forecast Model
3.5. List of Assumptions
4. Market Dynamics
4.1.1. Rising Demand for Electricity From Renewable Energy Sources
4.1.2. Increasing Demand for Secure Power Supply Worldwide
4.1.3. Convergence of IoT In Enhancing Microgrid Connectivity
4.2.1. High Installaiton And Maintenance Cost of Microgrid Monitoring System
4.3.1. Growing Demand in Microgrids In Healthcare, Military, And Government Sector
4.3.2. Increasing Government Investments in Microgrid Projects
4.4. Porter’s Five Forces Analysis
4.4.1. Threat of New Entrants
4.4.2. Bargaining Power of Buyers
4.4.3. Bargaining Power of Suppliers
4.4.4. Threat of Substitutes
4.4.5. Intensity of Rivalry
4.5. Value Chain/Supply Chain Analysis
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