Smart Microgrid Controller Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 12.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Smart Microgrid Controller Market Analysis
The Smart Microgrid Controller Market is expected to register a CAGR of approximately 12.5% during the forecast period (2021 - 2026). Trends pertaining to Digitization, Decentralization, and Electrification are leading to a paradigm shift in the energy landscape.
- An integrated smart microgrid controller cost-effectively maintains grid stability and operational resiliency. A smart microgrid controller automates all microgrid components' control to satisfy power demand and maintain stable operating conditions with minimal operational staffing and intervention from human resources.
- According to an estimate by the International Energy Agency, 42% of new energy generation capacity additions should be generated from microgrids to achieve the United Nations Sustainable Development goal of 100% energy access by 2030.
- A controller software maximizes electric reliability, integrate renewables, or reduce emissions. In April 2020, HOMER Energy, by UL recently released, introduced two powerful, customizable Controller APIs, which enable the users to create and simulate their dispatch strategy in HOMER Grid software for modeling the design of behind-the-meter distributed energy systems.
Smart Microgrid Controller Market Trends
This section covers the major market trends shaping the Smart Microgrid Controller Market according to our research experts:
Grid Connected Segment Expected to Exhibit Significant Share
- The grid-connected smart microgrid controller is a connected grid network, which is installed to provide energy in accordance with the requirements of the corresponding end-user. The micro sources are able to act as a current source with maximum power transfer capability to the grid. The majority of house owners and small-sized enterprises prefer the grid-connected microgrid controller, owing to its cost-efficient feature, to cater to their respective power requirements.
- Panasonic launched an urban microgrid, hybrid Energy Storage Systems (ESS) with end to end solutions for the Indian market. The integrated solar power microgrids incorporated features, such as efficient, reliable, and intelligent power storage solutions to fuel adoption in the urban residential and commercial areas. The solution allows grid interaction, remote monitoring, and data analytics and optimizing energy usage.
- Also, in September 2019, SimpliPhi Power, an energy storage system maker, collaborated with Heila Technologies on a distributed, scalable smart microgrid that combines power from homes into a virtual power plant. Heila Technologies is a developer of software and hardware that integrates diverse generation and storage assets into microgrids, to deliver a dynamic platform that aggregates multiple customer-cited SimpliPhi battery systems into a virtual power plant.
North America Expected to Dominate the Market
- North America region is expected to dominate the Microgrid Controller Market owing to the rise in the adoption of renewable energy and distributed generation systems. Sustainable microgrids are emerging as a vital tool, across the United States, to combat climate change and increasing instances of natural disasters, such as earthquakes, hurricanes, wildfires, and many more.
- Microgrid controllers are increasing in adoption as the traditional energy grid struggle to provide uninterrupted power flow, which causes outages, and subsequently slows down the economies.
- Moreover, the aging infrastructure of the traditional energy grids requires major overhauls; thus, the United States Environmental Policy Agency imposed unprecedented greenhouse gas regulation, which is further expected to stimulate the adoption of integrated renewable energy microgrid controllers in the region.
- In October 2019, Schneider Electric and Excellerate jointly launched the Xcape by Excellerate Energy Microgrid. Xcape is an agile microgrid solution designed for quick deployment and installation, helping deliver power when needed in even the most remote locations. Excellerate is an innovator of manufactured electrical components and assemblies.
Smart Microgrid Controller Industry Overview
The competitive landscape of the Smart Microgrid Controller Market is moderately fragmented owing to the presence of several market players across the globe. The market players are making innovations in the market to expand its market presence. Also, the market players are forming strategic partnerships and collaborations to boost their market share.
- November 2019 - Siemens partnered with the German renewable energy developer Juwi to jointly provide microgrids in the mining industry. They are developing an advanced microgrid control system that enables the seamless integration of renewable electricity to a mine's off-grid power supply. The development of the control system is expected to help simplify the use of renewable energy for mines and help provide a cost-effective and reliable power supply, especially for mine sites that operate off the grid.
Smart Microgrid Controller Market Leaders
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Schweitzer Engineering Laboratories
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Schneider Electric SE
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Opus One Solutions Inc.
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Encorp Inc.
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Siemens AG
*Disclaimer: Major Players sorted in no particular order
Smart Microgrid Controller Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Assumptions & Market Definition
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1.2 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Market Overview
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4.2 Market Drivers
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4.2.1 Significant Growth in a Range of Distributed Energy Resources (DER)
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4.2.2 Growing Government Investments Toward Microgrid Projects
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4.3 Market Restraints
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4.3.1 Complexity Regarding Coordination between Inverters from Different Vendors Having Different Operational Standards
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4.4 Industry Attractiveness - Porter's Five Forces Analysis
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4.4.1 Threat of New Entrants
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4.4.2 Bargaining Power of Buyers/Consumers
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4.4.3 Bargaining Power of Suppliers
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4.4.4 Threat of Substitute Products
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4.4.5 Intensity of Competitive Rivalry
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4.5 Microgrid Business Models Landscape
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4.6 Assessment of Impact of COVID-19 on the Global Microgrid Control Systems Market
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5. MARKET SEGMENTATION
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5.1 By Connectvity
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5.1.1 Grid Connected
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5.1.2 Remote/Off Grid
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5.2 By End-user Vertical
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5.2.1 Commercial and Industrial
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5.2.2 Power & Utilities
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5.2.3 Institutional/Campus
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5.2.4 Government/Communities
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5.2.5 Other End-user Verticals
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5.3 Geography
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5.3.1 North America
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5.3.2 Europe
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5.3.3 Asia-Pacific
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5.3.4 Latin America
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5.3.5 Middle East & Africa
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6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles*
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6.1.1 Schweitzer Engineering Laboratories
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6.1.2 Schneider Electric SE
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6.1.3 Opus One Solutions Inc.
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6.1.4 Encorp Inc.
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6.1.5 Siemens AG
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6.1.6 S&C Electric Company
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6.1.7 PowerSecure Inc.
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6.1.8 Spirae LLC
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6.1.9 Emerson Automation Solutions
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6.1.10 CleanSpark Inc.
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6.1.11 Eaton Corporation
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6.1.12 General Electric Company
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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8. INVESTMENT ANALYSIS
Smart Microgrid Controller Industry Segmentation
A Microgrid is a contiguous section of the grid consisting of interconnected Distributed Energy Resources (DERs) and loads under common control. DERs can be distributed renewables, storage devices, generators, electric vehicles, and demand response. Smart Microgrid controls are capable of optimizing the power mix of the DERs and loads to provide reliable and economical operation to the end-users without human intervention.
As part of the scope of the study, both Grid-connected and Remote Microgrid controllers have been included. The utilization of microgrid controllers across major end-users such as Communities, Commercial/Industrial, Utilities, and Educational Institutions, among others, has been considered.
| By Connectvity | |
| Grid Connected | |
| Remote/Off Grid |
| By End-user Vertical | |
| Commercial and Industrial | |
| Power & Utilities | |
| Institutional/Campus | |
| Government/Communities | |
| Other End-user Verticals |
| Geography | |
| North America | |
| Europe | |
| Asia-Pacific | |
| Latin America | |
| Middle East & Africa |
Smart Microgrid Controller Market Research FAQs
What is the current Smart Microgrid Controller Market size?
The Smart Microgrid Controller Market is projected to register a CAGR of 12.5% during the forecast period (2024-2029)
Who are the key players in Smart Microgrid Controller Market?
Schweitzer Engineering Laboratories, Schneider Electric SE, Opus One Solutions Inc., Encorp Inc. and Siemens AG are the major companies operating in the Smart Microgrid Controller Market.
Which is the fastest growing region in Smart Microgrid Controller Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Smart Microgrid Controller Market?
In 2024, the North America accounts for the largest market share in Smart Microgrid Controller Market.
What years does this Smart Microgrid Controller Market cover?
The report covers the Smart Microgrid Controller Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Smart Microgrid Controller Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Smart Microgrid Controller Industry Report
Statistics for the 2024 Smart Microgrid Controller market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Smart Microgrid Controller analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
