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(IT-NEWSWIRE.COM, May 29, 2018 ) Global Microgrid Control Systems Market was valued at USD 20.89 billion in 2017 and is expected to reach a market value of USD 41.79 billion by 2023, registering a CAGR of 12.25% during the forecast period (2018 - 2023). Microgrids are similar to main power grids but are smaller in size with low capacities. They are referred as a distributed electric grids that can be operated and controlled depending on the requirement. Unlike regular grids, these grids work on distributed energy sources and can operate on multiple sources at any given point. Microgrids are an essential part of smart cities
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The major players include - ABB GROUP, SIEMENS AG, HITACHI LTD, EATON CORPORATION PLC, PRINCETON POWER SYSTEMS, GENERAL ELECTRIC CORPORATION, PARETO ENERGY LTD, HONEYWELL INTERNATIONAL INC., NORTHERN POWER SYSTEMS CORPORATION, AND EXELON CORPORATION, amongst other.
The scope of this study is limited to grid-connected, off-grid, and hybrid kind of microgrids. The report is segmented by application into utilities, cities & municipalities, defense, and industrial.
Key Developments in the Market
July 2017: Advanced Microgrid Solutions raised USD 34 Million in a Series B funding round amid projections by utility executives that distributed energy resources (DERs) will create the biggest stress on the grid in the coming decade. With this the total funding of AMS reached USD 52 million
June 2017: ABB’s microgrid to power Aruba. The island of Aruba plans to cover half its annual energy need using renewable energy sources and the other half using alternative fuels by 2020. It has a peak demand of 134 MW, that is currently met by a mix of thermal, wind, and solar photovoltaic generation. Using 24 hour forecasts of both renewable output and system load, the system will help plan operations and adjust dispatch in real-time to accommodate changes in renewable output, load or generation availability.
Reasons To Purchase This Report
Current and future microgrid control systems outlook in the developed and emerging markets
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
The segment that is expected to dominate the market
Regions that are expected to witness fastest growth during the forecast period
Identify the latest developments, market shares, and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet (in Excel)
Customization of the Report
This report can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
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About Us:
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Orbis Research
Hector Costello
+1 (214) 884-6817
sales@orbisresearch.com
Source: EmailWire.Com 
Source: EmailWire.com
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