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Global Microgrid Monitoring System Market Share, Size, Report, Growth, Analysis, Forecast: By Grid Type: On-Grid, Off-Grid, Hybrid; By Application: Industrial, Utility, Residential and Commercial, Others; Regional Analysis; Market Dynamics: SWOT Analysis; Competitive Landscape; Key Trends and Developments in the Market; 2023-2028
Global Microgrid Monitoring System Market Outlook
The global microgrid monitoring system market size is expected to grow at a CAGR of 12.40% between 2023 and 2028. Major market drivers are initiatives by various governments, rising concerns over climate change, and modernisation of power infrastructure.
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Key Trends in the Market
A microgrid monitoring system is a set of hardware and software tools that monitor the flow of energy inside a microgrid to ensure its proper functioning. The hardware system consists of communication devices, sensors, and data recorders for collecting real-time data and storing it so that it can be analysed later. The software microgrid monitoring system collects, stores, analyses, and displays data from the microgrid which can be used for monitoring energy use and performance of the microgrid.
- Commercial and industrial sectors are boosting the demand for efficient and reliable energy sources such as microgrid monitoring services for load shedding, POC monitoring and control, and voltage control, among other purposes. This in turn fuelling the growth of the microgrid monitoring system market.
- There is an increasing demand and popularity of renewable energy sources in microgrids owing to their advantages such as low costs, stability, safety, and efficiency. Integration with microgrids helps optimise renewable energy production and monitoring, enhancing their use.
- Research and development activities are being carried out to improve smart grids through means such as equipping microgrids with smart sensors. Such developments can enhance the monitoring capabilities and also provide secure and reliable communication among various devices, thereby increasing their demand and propelling the growth of the microgrid monitoring system market.
Market Analysis
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Based on grid type, the market is divided into on-grid, off-grid, and hybrid. By application, the market is segmented into industrial, utility, and residential and commercial, among others. On the basis of region, the market is classified into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global microgrid monitoring system market covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
- Schneider Electric SE
- ABB Ltd
- Emerson Electric Co.
- Bloomy Controls, Inc.
- ELM Fieldsight LLC
- Siemens AG
- Others
Market Share by Application
Microgrid monitoring devices find a wide range of industrial applications and therefore industrial applications are expected to hold a larger share in the microgrid monitoring system market. Numerous industries switched to microgrids from main grids to combat fluctuations in power voltage and frequency and resynchronisation challenges. With increasing applications of microgrids which can be implemented remotely, there is a greater demand and usage of microgrid monitoring systems. Through microgrid monitoring systems, industrial companies can ensure that microgrids are operating at an optimum level, thereby streamlining costs and minimising disruptions. As adoption of microgrids surges in industrial applications, the demands for microgrid monitoring systems are expected to rise further in the coming years.
Market Share by Region
Asia Pacific accounts for a major share in the microgrid monitoring system market, fuelled by the increasing deployment of microgrids in countries in the region. Within the Asia Pacific, microgrids are being deployed in China, South Korea, and Japan in the rising healthcare and life sciences industry, oil and gas industry, and manufacturing industry, among other industries. This growth has paved the way for the adoption of the microgrid monitoring devices for various applications. Meanwhile, the market for microgrid monitoring systems in North America is expected to grow in the forecast period due to early adoption of microgrids and their management systems.
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Competitive Landscape
ABB Ltd is a technology group that deals with process automation and develops products and solutions that help in connecting engineering software and know-how in order to optimise how products and systems are manufactured, moved, and operated. They cater to various hybrid and process industries such as marine and turbocharging, control technologies, and measurement and analytics. ABB was established in 1988 and is based in Zurich, Switzerland.
Emerson Electric Co. was established in 1890 and is headquartered in Missouri in the United States. It is a software, engineering, and technology powerhouse that focuses on making the world a safer, sustainable, healthier, and smarter place to live in. They specialise in the manufacturing of professional tools, electric motors, power technologies, control systems, storage systems, industrial automation, and climate technologies.
ELM Fieldsight LLC was founded in 1988 and is based in Illinois, United States. ELM Fieldsight is a technology company that specialises in the manufacture and supply of a range of commercial and industrial compliance products. The company caters to various industries such as construction, utilities, hospitality and health safety, damage prevention industry, and manufacturing.
Other market players include Schneider Electric SE, Bloomy Controls Inc., and Siemens AG, among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Grid Type |
|
| Breakup by Application |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global Microgrid Monitoring System Market Analysis
8.1 Key Industry Highlights
8.2 Global Microgrid Monitoring System Historical Market (2018-2022)
8.3 Global Microgrid Monitoring System Market Forecast (2023-2028)
8.4 Global Microgrid Monitoring System Market by Grid Type
8.4.1 On-Grid
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 Off-Grid
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.4.3 Hybrid
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2022)
8.4.3.3 Forecast Trend (2023-2028)
8.5 Global Microgrid Monitoring System Market by Application
8.5.1 Industrial
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 Utility
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.5.3 Residential and Commercial
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2022)
8.5.3.3 Forecast Trend (2023-2028)
8.5.4 Others
8.6 Global Microgrid Monitoring System Market by Region
8.6.1 North America
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2022)
8.6.1.3 Forecast Trend (2023-2028)
8.6.2 Europe
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2022)
8.6.2.3 Forecast Trend (2023-2028)
8.6.3 Asia Pacific
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2018-2022)
8.6.3.3 Forecast Trend (2023-2028)
8.6.4 Latin America
8.6.4.1 Market Share
8.6.4.2 Historical Trend (2018-2022)
8.6.4.3 Forecast Trend (2023-2028)
8.6.5 Middle East and Africa
8.6.5.1 Market Share
8.6.5.2 Historical Trend (2018-2022)
8.6.5.3 Forecast Trend (2023-2028)
9 North America Microgrid Monitoring System Market Analysis
9.1 United States of America
9.1.1 Market Share
9.1.2 Historical Trend (2018-2022)
9.1.3 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Market Share
9.2.2 Historical Trend (2018-2022)
9.2.3 Forecast Trend (2023-2028)
10 Europe Microgrid Monitoring System Market Analysis
10.1 United Kingdom
10.1.1 Market Share
10.1.2 Historical Trend (2018-2022)
10.1.3 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Market Share
10.2.2 Historical Trend (2018-2022)
10.2.3 Forecast Trend (2023-2028)
10.3 France
10.3.1 Market Share
10.3.2 Historical Trend (2018-2022)
10.3.3 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Market Share
10.4.2 Historical Trend (2018-2022)
10.4.3 Forecast Trend (2023-2028)
10.5 Others
11 Asia Pacific Microgrid Monitoring System Market Analysis
11.1 China
11.1.1 Market Share
11.1.2 Historical Trend (2018-2022)
11.1.3 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Market Share
11.2.2 Historical Trend (2018-2022)
11.2.3 Forecast Trend (2023-2028)
11.3 India
11.3.1 Market Share
11.3.2 Historical Trend (2018-2022)
11.3.3 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Market Share
11.4.2 Historical Trend (2018-2022)
11.4.3 Forecast Trend (2023-2028)
11.5 Australia
11.5.1 Market Share
11.5.2 Historical Trend (2018-2022)
11.5.3 Forecast Trend (2023-2028)
11.6 Others
12 Latin America Microgrid Monitoring System Market Analysis
12.1 Brazil
12.1.1 Market Share
12.1.2 Historical Trend (2018-2022)
12.1.3 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Market Share
12.2.2 Historical Trend (2018-2022)
12.2.3 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Market Share
12.3.2 Historical Trend (2018-2022)
12.3.3 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa Microgrid Monitoring System Market Analysis
13.1 Saudi Arabia
13.1.1 Market Share
13.1.2 Historical Trend (2018-2022)
13.1.3 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Market Share
13.2.2 Historical Trend (2018-2022)
13.2.3 Forecast Trend (2023-2028)
13.3 Nigeria
13.3.1 Market Share
13.3.2 Historical Trend (2018-2022)
13.3.3 Forecast Trend (2023-2028)
13.4 South Africa
13.4.1 Market Share
13.4.2 Historical Trend (2018-2022)
13.4.3 Forecast Trend (2023-2028)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Schneider Electric SE
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 ABB Ltd
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Emerson Electric Co.
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Bloomy Controls, Inc.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 ELM Fieldsight, LLC
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Siemens AG
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Microgrid Monitoring System Market: Key Industry Highlights, 2018 and 2028
2. Global Microgrid Monitoring System Historical Market: Breakup by Grid Type (USD Million), 2018-2022
3. Global Microgrid Monitoring System Market Forecast: Breakup by Grid Type (USD Million), 2023-2028
4. Global Microgrid Monitoring System Historical Market: Breakup by Application (USD Million), 2018-2022
5. Global Microgrid Monitoring System Market Forecast: Breakup by Application (USD Million), 2023-2028
6. Global Microgrid Monitoring System Historical Market: Breakup by Region (USD Million), 2018-2022
7. Global Microgrid Monitoring System Market Forecast: Breakup by Region (USD Million), 2023-2028
8. North America Microgrid Monitoring System Historical Market: Breakup by Country (USD Million), 2018-2022
9. North America Microgrid Monitoring System Market Forecast: Breakup by Country (USD Million), 2023-2028
10. Europe Microgrid Monitoring System Historical Market: Breakup by Country (USD Million), 2018-2022
11. Europe Microgrid Monitoring System Market Forecast: Breakup by Country (USD Million), 2023-2028
12. Asia Pacific Microgrid Monitoring System Historical Market: Breakup by Country (USD Million), 2018-2022
13. Asia Pacific Microgrid Monitoring System Market Forecast: Breakup by Country (USD Million), 2023-2028
14. Latin America Microgrid Monitoring System Historical Market: Breakup by Country (USD Million), 2018-2022
15. Latin America Microgrid Monitoring System Market Forecast: Breakup by Country (USD Million), 2023-2028
16. Middle East and Africa Microgrid Monitoring System Historical Market: Breakup by Country (USD Million), 2018-2022
17. Middle East and Africa Microgrid Monitoring System Market Forecast: Breakup by Country (USD Million), 2023-2028
18. Global Microgrid Monitoring System Market Structure
Key Questions Answered in the Report
The market is expected to grow at a CAGR of 12.40% between 2023 and 2028.
The major market drivers include initiatives by various governments, rising concerns over climate change, and modernisation of grid infrastructure.
The key trends of the market are growth of commercial and industrial sectors, rising popularity of renewable energy sources, and increasing research and development activities in the market.
A microgrid monitoring system is a set of hardware and software tools that are used to monitor the flow of energy inside a microgrid in order to ensure its proper functioning.
The hardware components of microgrid monitoring systems include communication devices, sensors, and data recorders for collecting real-time data and storing it for analysis.
The grid types of microgrid monitoring systems in the market are on-grid, off-grid, and hybrid.
The various applications of microgrid monitoring systems in the market are industrial, utility, and residential and commercial, among others.
The advantages of microgrid monitoring systems include decreased carbon footprint and reduced energy losses, among others.
The major regional markets for microgrid monitoring systems include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The key players in the microgrid monitoring system market, according to the EMR report, are Schneider Electric SE, ABB Ltd, Emerson Electric Co., Bloomy Controls, Inc., ELM Fieldsight LLC, and Siemens AG, among others.
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