Overview and Scope
Microgrid-as-a-Service (MaaS) is a financing mechanism that enables organizations to deploy microgrids without any upfront investment. MaaS providers arrange the financing, operation, and maintenance of the microgrid, removing the financial risk and complexity and enabling more microgrids to become a reality. The microgrid-as-a-service model reduces complexity and financial risk, allowing more microgrids to be built.
Sizing and Forecast
The microgrid-as-a-service market size has grown rapidly in recent years. It will grow from $2.12 billion in 2023 to $2.46 billion in 2024 at a compound annual growth rate (CAGR) of 16.0%. The growth in the historic period can be attributed to increasing energy demand, grid reliability concerns, rising focus on renewable energy, government initiatives and incentives, growing need for energy resiliency.
The microgrid-as-a-service market size is expected to see rapid growth in the next few years. It will grow to $4.19 billion in 2028 at a compound annual growth rate (CAGR) of 14.2%. The growth in the forecast period can be attributed to transition to smart grids, rising demand for distributed energy resources, increasing adoption of electric vehicles, focus on sustainability and carbon reduction, growth in industrial and commercial sectors. Major trends in the forecast period include integration of artificial intelligence in microgrid management, rise of energy-as-a-service models, development of blockchain in energy transactions, emergence of community microgrids, increased use of microgrids in critical infrastructure resilience planning.
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Segmentation & Regional Insights
The microgrid-as-a-service market covered in this report is segmented -
1) By Service Type: Engineering And Design Service, Software As A Service, Monitoring And Control Services, Operation And Maintenance Services
2) By Grid Type: Remote Or Islanded Type, Grid-Connected Type
3) By Vertical: Utility, Residential And Commercial, Military, Industrial, Other Verticals
North America was the largest region in the microgrid-as-a-service market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the microgrid-as-a-service market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The surge in electricity consumption is expected to propel the growth of the microgrid-as-a-service market going forward. Electricity is an electrical current sent through lines and used for heating, lighting, and powering machinery. A surge in electricity consumption is expanding the microgrid-as-a-service by reducing long-term energy expenditures, upgrading essential energy infrastructure without costing money, and enhancing energy dependability. For instance, in April 2023, according to the Energy Information Administration, a US-based primary federal statistical system organization, the overall electricity end-use utilization in the United States in 2022 was around 2.6% higher than in 2021. Similarly, in 2022, industrial sector retail electricity sales increased by roughly 0.7% from 2021. Therefore, the surge in electricity consumption is driving the microgrid-as-a-service market.
Key Industry Players
Major companies operating in the microgrid-as-a-service market report are Siemens AG, General Electric Company, Caterpillar Inc., Schneider Electric SE, NRG Energy Inc., ABB Ltd., Duke Energy Corp, NextEra Energy Inc., Eaton Corporation PLC, Emerson Electric Co., Exelon Corporation, Tech Mahindra Ltd., Aggreko PLC, Solarcity Corporation, Canopy Power Pte Ltd., VECKTA Corporation, Green Energy Corp, Capstone Green Energy Corp, Bboxx Ltd., Northern Power Systems Inc., Pareto Energy Ltd., Honeywell International Inc., AIO Systems Ltd., Primus Power Corp, Spirae Inc., EnSync Energy Inc., LO3 Energy Inc., Metco Engineering Inc., Husk Power Systems Pvt Ltd., Anbaric Development Partners LLC
The microgrid-as-a-service market report table of contents includes:
1. Executive Summary
2. Microgrid-As-A-Service Market Characteristics
3. Microgrid-As-A-Service Market Trends And Strategies
4. Microgrid-As-A-Service Market - Macro Economic Scenario
5. Global Microgrid-As-A-Service Market Size and Growth
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31. Microgrid-As-A-Service Market Other Major And Innovative Companies
32. Global Microgrid-As-A-Service Market Competitive Benchmarking
33. Global Microgrid-As-A-Service Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Microgrid-As-A-Service Market
35. Microgrid-As-A-Service Market Future Outlook and Potential Analysis
36.Appendix
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Microgrid as a Service Market by Grid Type (Grid connected, Islanded), by Service Type (Software as a Service, Monitoring & Control Service, Operation & Maintenance Service), Industry (Government, Residential & Commercial, Industrial, Military & Defense) - And Forecast 2016-2022Overview:To address the problems associated with power resiliency, alternative energy options such as advanced microgrids are being considered.
Microgrids are a distribution network of distributed energy resources (DER) that is capable of islanding regardless of being connected to a traditional utility power grid.
The global microgrid as a Service market was valued at USD 772 Mn in 2015.Surging cases of widespread power outages caused by natural calamities and aging grid structures have resulted in a pressing need to improve energy output.
MaaS offers the advantages of dynamic monitoring and scalability at an affordable rate.
Rapid industrialization across the globe, especially in the emerging economies has resulted in the need for an uninterrupted flow of electricity which has further induced greater demand for MaaS.
Moreover, the adoption of MaaS eliminates the need to incur upfront costs which bodes well for the market in price sensitive market.
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The report will assist reader with better understanding and decision making.The global Insights-as-a-Service market size is expected to gain market growth in the forecast period of 2020 to 2025, with a CAGR of 12.5% in the forecast period of 2020 to 2025 and will expected to reach USD 2621.1 million by 2025, from USD 1637.5 million in 2019.The Insights-as-a-Service market report provides a detailed analysis of global market size, regional and country-level market size, segmentation market growth, market share, competitive Landscape, sales analysis, impact of domestic and global market players, value chain optimization, trade regulations, recent developments, opportunities analysis, strategic market growth analysis, product launches, area marketplace expanding, and technological innovations.Browse the complete report and table of contents @ https://www.decisiondatabases.com/ip/37759-insights-as-a-service-market-analysis-reportThe major players covered in Insights-as-a-Service are:IBMGood DataOracleCapgeminiNTT DataAccentureSmartfocusDell EMCDeloitte Touche TohmatsuZephyr HealthBy Type, Insights-as-a-Service market has been segmented into: Predictive Insights Descriptive Insights Prescriptive InsightsBy Application, Insights-as-a-Service has been segmented into: BFSI Healthcare and Life Sciences Retail and Consumer Goods Energy and Utilities Manufacturing Telecommunication and IT Government and Public Sector OthersThe report offers in-depth assessment of the growth and other aspects of the Insights-as-a-Service market in important countries (regions), including: North America (United States, Canada and Mexico) Europe (Germany, France, UK, Russia and Italy) Asia-Pacific (China, Japan, Korea, India, Southeast Asia and Australia) South America (Brazil, Argentina, Colombia) Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)Download Free Sample Report of Global Insights-as-a-Service Market @ https://www.decisiondatabases.com/contact/download-sample-37759There are 14 Chapters to deeply display the global Insights-as-a-Service market.1 Insights-as-a-Service Market Overview2 Company Profiles3 Global Insights-as-a-Service Market Competition, by Players4 Global Insights-as-a-Service Market Size by Regions5 North America Insights-as-a-Service Revenue by Countries6 Europe Insights-as-a-Service Revenue by Countries7 Asia-Pacific Insights-as-a-Service Revenue by Countries8 South America Insights-as-a-Service Revenue by Countries9 Middle East and Africa Revenue Insights-as-a-Service by Countries10 Global Insights-as-a-Service Market Segment by Type11 Global Insights-as-a-Service Market Segment by Application12 Global Insights-as-a-Service Market Size Forecast (2021-2025)13 Research Findings and Conclusion14 AppendixPurchase the complete Global Insights-as-a-Service Market Research Report @ https://www.decisiondatabases.com/contact/buy-now-37759Other Reports by DecisionDatabases.com:Global Business Process-as-a-Service Market 2018 by Manufacturers, Countries, Type and Application, Forecast to 2023Global Hadoop-as-a-Service (HDaaS) Market 2018 by Manufacturers, Countries, Type and Application, Forecast to 2023Global Energy-as-a-Service (EaaS) Market 2020 by Company, Regions, Type and Application, Forecast to 2025About-Us:DecisionDatabases.com is a global business research reports provider, enriching decision makers and strategists with qualitative statistics.
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