Tuesday, 19 February 2019

Microgrid Monitoring Market 2019 Size, Share, Key Players Overview, Business Growth, Segmentation and Regional Trends by 2023 | MRFR


Market Highlights
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.
Increasing grid installation activities and focus on clean source of energy would drive the microgrid monitoring market. South East Asia is planning to invest USD 9.8 billion in smart grid infrastructure which would result in high levels of microgrids and battery storage market growths. Similarly, Vattenfall (Sweden) is planning to invest USD 2.3 billion from 2019 to 2024 to renew and expand electricity grid. Such developments would in turn have a positive impact on the microgrid monitoring market.
Key Players
The key players of global microgrid monitoring market are General Electric (US), Exelon Corporation (US), Power Analytics Corporation (US), Homer Energy (US),SEL (US), S&C Electric Company (US), Siemens AG (Germany), Enercon (Germany), ABB (Switzerland), Schneider SE (France), Caterpillar, Inc. (US), and Eaton (Ireland).

Segmental Analysis:
Global microgrid monitoring market has been segmented based on type, product, application, and region. Based on product, the market is classified into hardware and software. Hardware segment is leading the market as its usage is increasing significantly to efficiently monitor real-time events of a microgrid system. Moreover, rise in investments in renewable energy activities and rapid urbanization is propelling the growth of hardware segment of microgrid monitoring market. The global microgrid monitoring market is further segmented based on application, including, military, government & utilities, telecom, healthcare, and others. Healthcare segment is estimated to be the largest market for microgrid monitoring during the forecast period. Need for uninterrupted power supply in the healthcare vertical is the key factor contributing to the growth of microgrid monitoring market. Healthcare requires reliable power that is generated in a sustainable manner. Next-generation microgrids offer healthcare facilities the ideal power source for maintaining user experience while optimizing energy consumption.


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