The recent years have seen the demand for smart microgrids surge to unprecedented levels. This spike in demand is attributable to the growing share of renewable energy in the global energy matrix. According to a latest research report by Transparency Market Research, the global smart microgrid market
is firmly on the course to steady growth owing to the aforementioned factors.
North America stands as the largest market in the world for smart microgrids. Within North America, it is the United States that has been at the forefront of the smart microgrid market thanks to several institutes such as universities, hospitals, and data centers installing smart microgrids. Rural electrification programs in countries such as China, India and Malaysia will lead to a spike in the demand for smart microgrid installations in these regional markets, the report predicts.
Microgrids, as the name suggests, are smaller in size than the traditional power grids. The former are thus designed to help them cater to localized electric loads. Microgrids also feature distributed energy resources (DER) including but not limited to micro turbines and photovoltaics, besides the ability to carry conventional power. With DERs, smart microgrids are able to run on islanding mode. They are thus able to carry loads protected from disturbances in the larger grids.
Free Research Report Brochure: http://www.transparencymarketresearch.com/smart-microgrid-market.html
There are a multitude of uses of smart microgrids. They help in integrating buildings with smart technologies and smart switches. To sum it up, smart grids feature a complete energy generation system, storage and consumption system, and distribution system.
With the growing threat to large electricity infrastructure on account of factors such as cybercrime and other disruptive forces, the role of smart microgrids will become all the more crucial. The greatest and most stable driver, however, will be the mounting need for reliable and uninterrupted power supply as more countries race toward urbanization.
The market, however, will have to surmount some early challenges in the form IT challenges, especially since there is still a lack of standardized operational support infrastructure. Protocols for smart microgrids are still not firmly in place, creating some stumbling blocks for companies investing in the market. Adding to these issues is the lack of active regulatory guidance for smart microgrids.
In this study, TMR analysts segment the global smart microgrid market based on application so as to provide a highly detailed analysis of the market. Thus, basis application, the smart microgrid market can be segmented into commercial, industrial, community, military, institutional, and remote systems.
Based on the phase of implementation, the smart microgrid market can be divided into: demand reduction, on-site generation and storage, advanced control, and automatic grid independence.
Companies currently at the forefront of the global smart microgrid market are: General Electric, ABB Group, Echelon Corporation, AEG Power Solutions, Phono Solar Technology Co. Ltd., Honeywell Inc., Siemens AG, and Schneider Electric.