"Actionable Insights to Fuel Your Growth"
Stable operation of the electrical grid is necessary to fulfill the electricity demands of billions of people on earth. Electric grids play a crucial role in distribution and transmission of electricity. Due to large expanse of the grid, there are various power losses associated with grids. At the beginning of 21st century, concept of microgrid was proposed, and it was under research, development, and demonstration phase. A microgrid is a single, controllable, independent power system comprising distributed generation (DG), load, energy storage (ES), and control devices, in which DG and ES are directly connected to the user side in parallel.
Based on the grid type, the global microgrid monitoring system market is divided into on-grid and off-grid. Based on product, the global market is segmented as software and hardware. Software is the brain of the monitoring system. All the data acquisition systems feed data to the software. The software processes the data and displays relevant parameters. In case the system deviates from normal operating conditions, software detects the abnormal conditions and takes decisions to normalize the microgrid. If the software cannot normalize the microgrid, the software either stops the functioning or informs the human operator. The hardware is responsible for data acquisition of various parameters of the microgrid. Based on application, global microgrid monitoring system can be segmented in residential & commercial, Industrial, Utility, and others.
Key Market Driver -
Key Market Driver – Demand for smart grids and IoT enabled electrical infrastructure
Key Market Restraint -
Key Market Restraint – Slow modernization of existing electrical infrastructure
The major market driver for the global microgrid monitoring system market is the increasing demand for stable and continuous electrical energy around the world. Many developed countries are now focusing on the modernization and miniaturization of power infrastructure because of renewable energy. The development of smart grids will spur demand for IoT compatible microgrid monitoring system.
The key market restraint for the global microgrid monitoring system is the slow modernization of existing electrical infrastructure. The installation cost of installing a microgrid system is expensive, which adds up with the construction cost of renewable energy.
Some of the major companies that are present in the microgrid monitoring system market are Schneider Electric, ABB, Siemens Energy, Emerson, Curb, Inc., Bloomy, ELM FieldSight, LLC, HOMER Energy, Operation Technology, Inc., Schweitzer Engineering Laboratories, LEONICS Co., Ltd., Scale Microgrid Solutions, SMA Solar Technology AG, and Aggreko.
The demand for a microgrid monitoring system is dominated by Asia-Pacific followed by North America, Europe, Middle-East & Africa, and Latin America. The microgrid is relatively advanced technology as it involves a lot of smart and automated components. The cost of advanced technology is affordable to developed nations. US and China are world leaders in microgrid technology and installations. These governments are funding research, development, and demonstration in various microgrid components like distributed generation (DG), load energy storage (ES), and control devices.
To gain extensive insights into the market, Request for Customization
With increasing installation of land-based renewable energy projects worldwide, the number of microgrids globally is growing. European countries like Germany and UK are also spending resources on microgrid technology and installations. With increasing solar energy installations in Africa, Middle East, etc., the number of microgrids has been growing.
By Grid Type
“Kudos to your team. Thank you very much for your support and agility to answer our questions.”- Europe-based provider of solutions to automate data centre operations.
“We appreciate you and your team taking out time to share the report and data file with us, and we are grateful for the flexibility provided to modify the document as per request. This does help us in our business decision making. We would be pleased to work with you again, and hope to continue our business relationship long into the future.”- India-based manufacturer of industrial and specialty intermediates with a strong global presence.
“I want to first congratulate you on the great work done on the Medical Platforms project. Thank you so much for all your efforts.”- One of the largest cosmetics company in the world.
“Thank you very much. I really appreciate the work your team has done. I feel very comfortable recommending your services to some of the other startups that I’m working with, and will likely establish a good long partnership with you.”- U.S. based startup operating in the cultivated meat market.
“We received the below report on the U.S. market from you. We were very satisfied with the report.”- UGlobal hearing aids manufacturer.
“I just finished my first pass-through of the report. Great work! Thank you!”- U.S. based solar racking solutions provider.
“Thanks again for the great work on our last partnership. We are ramping up a new project to understand the imaging and imaging service and distribution market in the U.S.”- World’s leading advisory firm.
“We feel positive about the results. Based on the presented results, we will do strategic review of this new information and might commission a detailed study on some of the modules included in the report after end of the year. Overall we are very satisfied and please pass on the praise to the team. Thank you for the co-operation!”- Germany based machine construction company.
“Thank you very much for the very good report. I have another requirement on cutting tools, paper crafts and decorative items.”- Japanese manufacturing company of stationery products.
“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”- One of the Leading Food Companies in Germany
“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”- Intuitive Surgical
“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”- Major Food Company in Japan
“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”- Ziering Medical
“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”- Major Manufacturer of Precision Machine Parts in India
“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”- Hewlett-Packard
“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”- Global Management Consulting Firm
“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”- UK-based Start-up in the Medical Devices Sector
“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”- One of the Largest Companies in the Defence Industry