Microgrid-as-a-Service Market Future Growth Insight And Competitive Outlook - 2027

 The microgrid-as-a-service (also known as MaaS) model is marking prodigious growth, which is highly propelled by its economic benefits over traditional models. The underperformance of traditional grids with legacy infrastructures is a key success factor driving governments of numerous countries to undertake initiatives to encourage the deployment of the MaaS model, thereby propelling growth of the microgrid-as-a-service market. The U.S. Department of Energy has come forward with the Smart Grid Investment Grant (SGIG) program to accelerate the gait of the shift from traditional electric transmission systems to modernized systems, with grants from governments.

Profitable opportunities await for players of the microgrid-as-a-service market, as rural electrification projects ongoing in numerous countries of Asia Pacific and the Middle East & Africa are projected to upkeep the adoption rate. On top of that, the demand for electricity during exigencies, ascending from hospitals and the defense sector, is projected to drive the demand for microgrid. However, the inadequacy of skilled labor, on account of lack of proper training programs, is likely to affect the scalability of the MaaS market.

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microgrid as a service market infographic

Technology to Lead the Future Course of the MaaS Market

Numerous technological advancements have been being directed towards improving the performance of battery invertors for ensuring uninterrupted power supply through a microgrid. Manufacturers operating in the microgrid-as-a-service market are looking at the development of battery technology with higher power outputs to further penetrate their models deeper into end-user segments. Initiatives such as the Clean Power Plan (CPP) policy, intended towards shrinking carbon footprints, are paving the way for the development of renewable energy through bio power, wind, and solar energy.

With the advent of wireless and IoT technologies, the performance of microgrids can be optimized by real-time data streaming, processing, storage, and monitoring infrastructure, which eliminates any human intervention. Manufacturers also leverage the prowess of MaaS to reduce the reliance on long-distance distribution lines, thereby reducing transmission losses. The convergence of Blockchain technology and MaaS will further build trust in the transaction landscape. The integration of this technology with microgrids will assist market players in managing payments in a convenient and secure fashion.

What’s Inhibiting the Growth of the Microgrid-as-a-Service Market

Since the time of its inception, the microgrid-as-a-service model has been deemed complex. The intricate planning and designing of microgrids coupled with the integration of sensors, controllers, resolvers, and encoders, together, further increases the complexity of the system. The deployment of such a complex system requires a skilled workforce; however, the insufficient number of professionals could impact the adoption rate in the long run. Besides this, the presence of stringent government regulations regarding microgrids and the escalating adoption rate of individually-owned microgrids are projected to deter the impressive pace of the microgrid-as-a-service market. The MaaS market has a low threat of new entrants, on account of two key aspects: high upfront CAPEX and OPEX requirement, and mandatory conformity to government standards

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  • According to Transparency Market Research’s latest research report on the global microgrid-as-a-service (MaaS) market for the historical period of 2017–2018 and the forecast period of 2019–2027, the growing number of industries using microgrid-as-a-service is expected to boost the global microgrid-as-a-service market during the forecast period.
  • In terms of revenue, the global microgrid-as-a-service market is estimated to reach a value of ~US$ 4.5 Bn by 2027, expanding at a CAGR of ~14% throughout the forecast period. 

In the report on the global microgrid-as-a-service market, we have discussed individual strategies, followed by company profiles of the providers of microgrid-as-a-service. The ‘Competition Landscape’ section has been included in the report to provide readers with a dashboard view and company market share analysis of key players operating in the global microgrid-as-a-service market.

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