Microgrid as a Service (MaaS) Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025
Global Microgrid as a Service (MaaS) Market: Snapshot
A microgrid is a power grid of a smaller level, that can operate on its own and independent of a location’s primary electrical grid. Additionally, a microgrid can be used in conjunction with the primary grid, a factor that opens up a number of possibilities and opportunities. Small-scale and localized stations can be run with their own source of energy and contain generation and distribution equipment, as long as the station adheres to the policies as specified by the region’s government. The core function of a microgrid is to be a fallback for structures or industries in the event of failure of the primary grid, or when the primary grind cannot supply sufficient power during peak hours.
Additionally, microgrids can be used to lower an establishment’s total consumption of power from the primary electrical grid. This can be supplemented by the fact that microgrids can operate using different sources of energy, including renewable ones. The large scale use of microgrids, under management and control by providers of microgrid as a service players, can allow establishments in a sizeable area to both reduce their consumption rates of conventional power sources and ramp up the use of renewable energy. At the same time, most microgrids are designed to be modular in nature, allowing them to make the primary grid less likely to completely fail in the event of a major incident. Under MaaS plans, these modular microgrids can also be upgraded over time to incorporate more efficient and renewable power sources.
Global Microgrid as a Service (MaaS) Market: Overview
The world microgrid as a service (MaaS) market is foreseen to build its growth on the back of software as a service (SaaS) sector which helps in the creation of more cost-efficient, reliable, and safer microgrid systems. The microgrid as a service (MaaS) market could be followed by operation and maintenance service. However, SaaS is prophesied to mark a ruling share in the global MaaS market with vital benefits such as decrease in the risk of failures and delays of projects and a single point of accountability offered to microgrid owners.
Key segmentation areas such as vertical, service type, and grid type are carefully analyzed in the report while taking a radical approach. This will help the interested parties to invest in the right industry spheres and secure a long-lasting growth.
The tailor-made publication prepared on the world microgrid as a service (MaaS) market has followed all the steps recommended for primary and secondary research to make available accurate and reliable information to the buyers.
Global Microgrid as a Service (MaaS) Market: Trends and Opportunities
During the forecast period, the world microgrid as a service (MaaS) market is anticipated to gain strength as the need for enhanced resilience sparks hefty government investments in the field of microgrid infrastructure. The need for reliable MaaS could augment further with remote localities, universities, and hospitals looking to leverage the unequalled benefits of microgrid infrastructure. Besides this, the end users of MaaS are not required to invest heavily upfront, which could boost the growth of the global market even more. By installing a microgrid infrastructure, operational costs can be curbed impressively. This could encourage most regions of the market to adopt MaaS.
The industrial vertical market of MaaS is foreseen to promise a growth that is challenging for other profitable vertical segments such as utility, military, commercial, and residential. The microgrid technology could be adopted at a significant degree, owing to factors such as fuel independence, grid resiliency, better and trustworthy power supply quality, and reasonable energy expenditure.
There is a tough competition expected to be witnessed between islanded or remote grid and grid connected markets, where the previous is predicted to take the leading position in the global industry. Much of the demand for islanded or remote grids is anticipated to arise from their services to meet energy requirements through greater control and allow distributed energy sources to be better managed.
Global Microgrid as a Service (MaaS) Market: Regional Outlook
Out of the top regional microgrid as a service (MaaS) market, Asia Pacific is forecasted to exhibit dominance while riding on the dire requirement for electricity with a reliable, constant, and undisturbed supply. Moreover, there is a high degree of investment made more or less on a consistent basis to adequately maintain microgrid infrastructures. As a result, the Asia Pacific MaaS market is prognosticated to record a commanding CAGR throughout the course of the forecast period. More opportunities are expected to emerge from the remarkable rate of power consumption and the application of MaaS in industrial sectors and rural electrification. Market players can expect to take advantage of key opportunities in the developing regions of Asia Pacific witnessing a weighty development in power infrastructure and industrial sectors.
Global Microgrid as a Service (MaaS) Market: Companies Mentioned
Although the standards, regulations, and policies relating to MaaS and the supremacy of customer-owned microgrids could raise a few questions in the minds of the microgrid as a service (MaaS) market players, there are some critical strategies they can rely on for growth. Some of these could be pertaining to the widening of their revenue share in the global MaaS market, where product developments and launches, agreements, acquisitions, and strategic partnerships could be the frequently adopted ones. Amongst others, Exelon Corporation, Eaton Corporation PLC, Siemens AG, General Electric, and ABB Ltd. are the top manufacturers operating in the industry.
This study provides a particularized anatomy according to the L.E.A.P mechanism
The regional analysis offers market assays across:
The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.
Latest Trends and Cardinal Growth Prospects
The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.
Existing and Future Insights in Growth
The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.
Ascensions in Technology
Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.
The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.
The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.
The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!
This report is the key to questions such as:
What are the prominent factors that will help in reshaping the market growth?
Which trends have the potential to bring expansive growth for the market?
What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?
Which regions will emerge as champion growth contributors for the market?
Which aspects will serve as game-changers for the market?
What are the latest innovations in the market?
Which factors will hinder the growth of the market?
Flat 10% discount on Single User License if you prebook this report
Flat 10% discount on Multiple User License if you prebook this report
Flat 10% discount on Corporate License if you prebook this report