Microgrid as a service (MAAS) Market

Global Microgrid as a Service (MAAS) Market Size (2024-2029):

The size of the global microgrid as a service (MAAS) market was worth USD 2.19 Billion in 2023. The global market is anticipated to grow at a CAGR of 15% from 2024 to 2029 and be worth USD 5.05 billion by 2029 from USD 2.51 billion in 2024. 

MARKET SCENARIO

The base year considered for the study is 2023, and the industry size foreseen is provided between 2024 and 2029. Reduced operating costs and negligible initial investments from MaaS end users, escalating call for MaaS from Se expects hospitals, universities, and remote areas, and high investments by governments in micro-grid infrastructure to improve resilience to drive call for MaaS in the coming years.

A microgrid is a lower-level electrical network that can operate on its own and independently of the main electrical network in a location. In addition, a micro-network can be employed in conjunction with the main network, a factor that opens up a number of possibilities and opportunities. Small-scale and localized stations can operate from their power source and content generation and distribution equipment, provided they comply with the regional government's policies. The main function of a microgrid is to be an alternative solution for structures or industries in the event of a failure of the primary network, or when the primary grinding cannot provide enough power throughout peak hours. In addition, microgrids can be employed to reduce the total energy consumption of a utility grid installation. This can be complemented by the fact that microgrids can operate using different energy sources, including renewable ones. The large-scale use of microgrids, under the management and control of microgrid providers as service providers, can allow establishments located in a large area at the same time to reduce their consumption rates of energy sources. conventional and increase the use of renewable energy. At the same time, most microgrids are designed to be modular, making the primary network less likely to go down completely in the event of a major incident.

MARKET TRENDS

Profitable opportunities await players in the microgrids-as-a-service industry, as ongoing rural electrification projects in many Asia-Pacific and Middle East and African countries are predicted to maintain the rate of adoption. Additionally, needy electricity call from hospitals and the defense sector is predicted to drive call for microgrids. Nevertheless, a shortage of skilled labor, due to the lack of adequate training programs, is probable to affect the scalability of the MaaS industry.

MARKET DRIVERS

The worldwide MicroGrid as a Service (MaaS) industry is predicted to expand its expansion through the Software as a Service (SaaS) industry, which contributes to the creation of more cost-effective, reliable, and secure microarray systems.

The microgrid as a service (MaaS) industry could be followed by an O&M service. MaaS 'industrial vertical industry is predicted to promise difficult expansion for other profitable verticals like utilities, military, commercial, and residential. Micro-grid technology could be largely adopted, due to factors like fuel independence, network resilience, better quality of reliable power supply, and reasonable energy expenditure. Stiff competition is predicted between island or remote industries and grid-connected industries, where the former is predicted to occupy the leading position in the worldwide industry. Much of the call for island or remote grids is predicted to come from their utilities to meet energy needs through better control and allow better management of distributed energy sources.

MARKET RESTRAINTS

Nevertheless, SaaS is predicted to gain a dominant share of the worldwide MaaS industry with vital benefits like reduced risk of project failures and delays and a single point of responsibility offered to microgrid owners.

MARKET OPPORTUNITIES

Throughout the foreseen period, the worldwide MicroGrid as a Service (MaaS) industry is predicted to strengthen as the need for better resilience drives significant government investments in microgrid infrastructure. The need for reliable MaaS could increase even more with remote communities, universities, and hospitals looking to take advantage of the unmatched benefits of microgrid infrastructure. Additionally, MaaS end users are not required to make large early-stage investments, which could further drive worldwide industry expansion. By installing a microgrid infrastructure, operating costs can be drastically reduced. This could encourage most industry regions to adopt MaaS.

MARKET CHALLENGES

Mastery of microgrids and customer-owned policies, regulations, and standards are among the main challenges in the worldwide MaaS industry.

REPORT COVERAGE

SEGMENT ANALYSIS

Global Microgrid as a Service (MAAS) Market Analysis By Grid Type

Of these two segments, the island or remote type is predicted to grow at the highest rate throughout the foreseen period. Isolated/remote microgrids allow facilities to better manage distributed power sources and gain better control to meet power calls.

Global Microgrid as a Service (MAAS) Market Analysis By Vertical

Among these segments, the vertical industry market is predicted to grow at the highest CAGR throughout the foreseen period.

Global Microgrid as a Service (MAAS) Market Analysis By Service Type

Software as a service is predicted to grow at the highest rate throughout the foreseen period, followed by O&M service. With software as a service, microgrid owners have a single point of responsibility and a reduced risk of project delays and failure. The result is a more secure, reliable, and economical microgrid system.

REGIONAL ANALYSIS

The MaaS industry, based on geography, has been segmented into America, Europe, APAC, and the rest of the world. The MaaS industry in the APAC region is predicted to grow at the highest CAGR throughout the foreseen period. Industry expansion in the APAC region can be attributed to high investments in microgrid infrastructure and the growing need for a continuous, uninterrupted, and reliable supply of power and electricity. In the leading regional industry for microgrids as a service (MaaS), Asia-Pacific is predicted to dominate while meeting urgent electricity needs with a reliable, constant, and uninterrupted supply. In addition, there is a more or less consistent high degree of investment to properly maintain the infrastructure of the microgrid. As a result, the Asia-Pacific MaaS industry is projected to post an impressive CAGR throughout the foreseen period. More opportunities are predicted to emerge from the remarkable rate of electricity consumption and the application of MaaS in industrial sectors and rural electrification. Industry players can expect to seize key opportunities in developing Asia-Pacific regions, witnessing significant development in energy infrastructure and industrial sectors.

COMPETITIVE LANDSCAPE

While standards, rules, and policies regarding MaaS and the supremacy of consumer-owned microgrids may get some questions on the minds of players in the MicroGrid as a Service (MaaS) industry, some key strategies concern them you can trust your expansion. Some of them could be related to expanding its revenue share in the worldwide MaaS industry, where product developments and launches, deals, acquisitions, and strategic partnerships could be adopted more frequently.

KEY PLAYERS IN THE GLOBAL MICROGRID AS A SERVICE (MAAS) MARKET

The prominent players in the market of microgrid as a service (MAAS) market are ABB Ltd. (Switzerland), General Electric (U.S.), Siemens AG (Germany), Eaton Corp. PLC (Ireland), Schneider Electric SE (France), Duke Energy Corporation (U.S.), Northern Power Systems Corp. (U.S.) Exelon Corp. (U.S.), NRG Energy, Inc. (U.S.), Spirae, Inc. (U.S.), and Others.

RECENT HAPPENINGS IN THE GLOBAL MICROGRID AS A SERVICE (MAAS) MARKET

• Tech Mahindra and Power Ledger declared a series of technology trials goal of getting the advantages of micro-energy advancements to the urban population. Booming India credits to Microgrid-as-a-Service.

DETAILED SEGMENTATION OF THE GLOBAL MICROGRID AS A SERVICE (MAAS) MARKET INCLUDED IN THIS REPORT

This global microgrid as a service (MAAS) market research report has been segmented and sub-segmented based on grid type, vertical, service type and region.

By Grid Type

• Grid-connected
• Remote or islanded grid types

By Vertical

• Government and Education
• Residential and Commercial
• Industrial
• Military
• Utility

By Service Type

• Engineering and design service
• Software as a service
• Monitoring and control service
• Operation and maintenance service

By Region

• North America - U.S., Canada.
• Europe - UK, France, Spain, Germany, Italy, Russia, Sweden, Denmark, Switzerland, Netherlands, Turkey, Czech Republic & Rest of Europe.
• Asia Pacific - India, China, Japan, South Korea, Australia & New Zealand, Thailand, Malaysia, Vietnam, Philippines, Indonesia, Singapore & Rest of APAC.
• Latin America - Brazil, Mexico, Argentina, Chile & Rest of LATAM.
• Middle East & Africa - KSA, UAE, Israel, rest of GCC countries, South Africa, Ethiopia, Kenya, Egypt, Sudan, rest of MEA.