Market Size of Smart Microgrid Controller Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 12.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Smart Microgrid Controller Market Analysis
The Smart Microgrid Controller Market is expected to register a CAGR of approximately 12.5% during the forecast period (2021 - 2026). Trends pertaining to Digitization, Decentralization, and Electrification are leading to a paradigm shift in the energy landscape.
- An integrated smart microgrid controller cost-effectively maintains grid stability and operational resiliency. A smart microgrid controller automates all microgrid components' control to satisfy power demand and maintain stable operating conditions with minimal operational staffing and intervention from human resources.
- According to an estimate by the International Energy Agency, 42% of new energy generation capacity additions should be generated from microgrids to achieve the United Nations Sustainable Development goal of 100% energy access by 2030.
- A controller software maximizes electric reliability, integrate renewables, or reduce emissions. In April 2020, HOMER Energy, by UL recently released, introduced two powerful, customizable Controller APIs, which enable the users to create and simulate their dispatch strategy in HOMER Grid software for modeling the design of behind-the-meter distributed energy systems.
