08 April 2021
The new report the Microgrid Controller Market Report to 2031: Forecasts by Connectivity (Grid Connected and Off Grid/Remote/Islanded), Application (Residential, Commercial, Industrial), by Region, Country, and Profiles of Leading Companies indicates that the Global Microgrid Controller Market will see $ XX bn in spending in 2020.
The lead analyst of the report said: "The Microgrid Controller Market is about to enter a period of phenomenal growth and innovation. The next ten years will see the upsurge demand of the microgrid controller."
A microgrid controller is an electronic device that manages the microgrid's operational interconnection with the distribution utility. A microgrid controller's essential functions include coordinating the integration and dispatch of local distributed energy resources and loads, providing ancillary services to the grid, and seamless grid disconnection and reconnection.
Increasing the integration of microgrids and distributed generation and government initiatives to improve electrical access worldwide is the essential growth driving determinant of the microgrid controller market. The growing need for a reliable and resilient power supply to reduce carbon emissions is also expected to be highly impactful on the microgrid controller market's growth. Further, emerging trends of developing flexible and scalable microgrid controllers and microgrids for protection against cyber-attacks will continue to guide the microgrid controller market's future. On the other hand, the high price of microgrid controllers and stringent government regulations are hampering the market's growth.
The global microgrid controller market is estimated to witness an impressive CAGR despite the COVID-19 pandemic eruption during the forecast period. However, the shutdown of manufacturing processes and lockdown worldwide may slow down the demand in the short-term and high growth in the later forecast period.
The XX page report contains 73 tables and 254 graphs that add visual analysis to explain developing trends within the microgrid controller market. The report provides $ XX bn forecasts during the forecast period 2021-2031 for the microgrid controller submarkets, namely by connectivity, i.e., grid connected and off grid/remote/islanded.
The XX page report offers market forecasts and analysis for 24 leading national markets and the rest of the world market. In addition, the report contains a dedicated leading companies' chapter covering more than 15 companies leading the field in the microgrid controller.
The global microgrid controller market 2021-2031 report will be of value to anyone who wants to understand better the microgrid controller market and its various segments. It will be useful for businesses who wish to comprehend the part of the market better they are already involved in, or those wishing to enter or expand into a different regional or technical aspect of the microgrid controller industry.
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