Glolbal Microgrid Automation Market is Expected to Grow At Over 13.80% During the Forecast Period Due to Robust Expansion of Microgrid Automation Services: Proficient Market
Proficient Market announces that it has a new study on “Global Microgrid Automation Market by Product Type (Fuel Cell, CHP and Others) and by End-Users/Application (Commercial, Residential, Defence and Others) Global Market Share, Forecast Data, In-Depth Analysis, and Detailed Overview, and Forecast, 2015 – 202726″. The 2020 study has 212 pages, 64 tables and 102 figures.
According to the report, Global Microgrid Automation Market in 2019 stood at USD 1.950 million and is expected to reach USD 5.85 million by 2027 growing at a CAGR of 13.80% from 2020 to 2027.
Microgrid Automation Market Key Players: The research study includes profiles of leading companies operating in the global Microgrid Automation market. Key players profiled in the report include:
AEG Power Solutions
Lockheed Martin Corporation
Phono Solar Technology Co. Ltd.
Wipro Limited and Microgrid Energy LLC.
This Report will help you to understand the Volume, growth with Impacting Trends. Click here To get SAMPLE PDF (Including Full TOC, Table & Figures): https://proficientmarket.com/sample/1202
Drivers for the Global Microgrid Automation Market: Rising demand for uninterrupted, efficient & reliable electricity sources; various offices/commercial buildings, IT organization, manufacturing & production plants require a constant supply of electricity & cannot afford interruptions in energy supply as it directly hampers their production lines & the business. Hence these factors can increase the disposable income and growth of the industry.
Opportunities for the Global Microgrid Automation Market: Moreover, rising adoption of digitization across several energy & service industries and increase in demand from consumers for flexible and reliable distribution of energy boosts the market. Hence these factors are going to provide opportunities for the future growth of the market.
Restrains for the Global Microgrid Automation Market: However, high costs linked with the replacement of existing grids & the building of microgrid from scratch, many government entities; private & public organizations are failing to incorporate the technology, various economic & technological barriers, lack of expertise in handling automation operations & advancement of legacy equipment and the threat of cybersecurity is also increasing. Hence these factors can majorly hamper the growth of the market.
Region Wise, Global Microgrid Automation Market Analysis: Asia-Pacific held major share in the market due to general economic conditions, investment in new technology, increasing economy, increase in the number of commercial areas and business organizations and various smart city initiatives & spending by government. Besides, North America and Europe held a large share in the market.
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Global Microgrid Automation Market: Product analysis
On the basis of type, CHP accounted for largest share of total revenue generated. Because, of its effectiveness and wide range of applications in various businesses/ organizations and energy & utilities.
Global Microgrid Automation Market: Application analysis
The demand of global microgrid automation market is highest from commercial, due to increased number of commercial buildings and high utilization of electricity due to carrying out various functions.
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Global Microgrid Automation Market: Region analysis
North America: U.S., Canada, Mexico
Europe: U.K., France, Germany, Spain, Italy, Rest of Europe
Asia Pacific: China, Japan, South Korea, ASEAN, India
Rest of Asia Pacific: Latin America, Brazil, Argentina, Colombia, Rest of L.A.
Middle East and Africa: Turkey, GCC, UAE, South Africa, Rest of Middle East
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