Growing need to bring efficiency across energy transmission and distribution channels are driving the demand for global micro-grid automation market. Asia-Pacific dominated the global micro grid automation market in 2019 and is expected to dominate the market throughout the forecast period 2020–2025

Dallas, Texas, March 04, 2020 (GLOBE NEWSWIRE) -- The “Microgrid Automation Market by Component (Inverter and Storage), Technology (Fuel Cell, CHP, and Others), Application (Commercial, Residential, and Defence), And Region, Global Forecast 2018 to 2025” study provides an elaborative view of historic, present and forecasted market estimates.

The existing and future Microgrid automation market developments are defined to determine the attractiveness of the market. Key impacting factors highlight the microgrid automation market opportunities throughout the forecast period. Factors such as the growing adoption of digitization across numerous industries and an increase in the need to bring efficiency across energy transmission and distribution channels are driving the adoption of advanced and automation technologies in the energy sector. Moreover, an increase in demand from consumers for flexible and reliable distribution of energy is also fuelling the demand for microgrid automation. However, economic and technological barriers with the deployment of microgrid automation solutions are anticipated to hamper the market growth. Furthermore, the growing adoption of digital technologies by energy and utility industries in developing economies such as India, China, and Japan are anticipated to provide major growth opportunities for the market in the upcoming years.

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The global microgrid automation market size is expected to grow from over USD 3 billion in 2019 to over USD 8 billion by 2025, at a CAGR of 17% during the forecast period. The grid comprises of a various number of microgrids, which further comprises small scale distributed energy resources such as renewable energy sources like solar plants, windmills, and others. The major differences between the smart microgrid and smart grid are the potential rate of change, their scale, and the types of decision-makers. In addition, the smart grid functions at the national grid level, which involves the huge distribution and lines. On the contrary, smart microgrids function at smaller scales but provide quick implementation and distribution. The microgrids basically supply local or small-scaled loads such as office parks, commercial buildings, homes, or a military base.

The report also highlights numerous aspects of the global microgrid automation industry by evaluating the market through value chain analysis. In addition, the report covers numerous qualitative aspects of the microgrid automation industry in market drivers, restraints, and key industry opportunities. Furthermore, the report offers a comprehensive assessment of the market competition along with company profiling of local as well as global vendors.

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The global microgrid automation market has strong competition among the well-established as well as new emerging players. In addition, the microgrid automation industry players are targeting prospective markets to capture a competitive advantage over the other industry players by forming agreements, mergers & acquisitions, acquiring new startups & other companies, forming collaboration and partnerships, and expanding their business presence.

On the basis of the application segment, the market is bifurcated into commercial, residential, and defense. In 2019, the commercial segment gathered the highest market revenue and it is anticipated to govern the microgrid automation market throughout the forecast period. The growth of this segment is mainly attributed to increase demand for constant power supply among manufacturing industries and IT organizations. On the contrary, the residential segment is projected to accumulate the highest CAGR during the forecast period.

Asia-Pacific dominated the global microgrid automation market in 2019 and is expected to dominate the market throughout the forecast period 2020–2025. The growth of this region is mainly accredited to the increasing smart city initiatives and growing spending by various governments on the energy & utility sector in this region. Also, the presence of conventional energy and grid infrastructure is also expected to provide market growth opportunities in the upcoming years in this region. Moreover, North America is anticipated to be the second major market shareholder during the forecast period due to the presence of major market players in the region.

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The major players of the global microgrid automation market are ABB Group, AEG Power Solutions, Echelon Corporation, GE, Honeywell, Lockheed Martin Corporation, Phono Solar Technology Co., Schneider Electric, Siemens AG, and Wipro. Moreover, the other potential players in the microgrid automation market are Chevron Energy, Viridity Energy, Pareto Energy, Microgrid Energy, and Spirae. As of 2019, the Microgrid automation market is consolidated with the existence of well-known global and domestic players across the globe. In addition, the recognized companies are coming up with innovative and new microgrid automation technologies and solutions. For instance, In April 2019, ABB announced a partnership with Rolls-Royce on advanced automation and microgrid technology. With this partnership, both companies are planning to offer energy-efficient and innovative microgrid solutions for industrial, utility, and commercial sectors.

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Major points from Table of Contents:
Chapter 1    Introduction
Chapter 2    Research Methodology
Chapter 3    Executive Summary
Chapter 4    Market Outlook
Chapter 5    Microgrid automation market by Component
Chapter 6    Microgrid automation market by Technology
Chapter 7    Microgrid automation market by Application
Chapter 8    Microgrid automation market By Region
Chapter 9    Competitive Landscape
Chapter 10    Company Profiles

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