Microgrid Control Systems Market

The microgrid control system market is projected to expand at a CAGR of 8.08% over the forecast period to reach US$2,378.748 million in 2024 from US$1,492.104 million in 2018. The need for a reliable and secure power supply system across the world is one-factor boost the microgrid control system market. Microgrid ensures the supply of electricity during power failure and blackout situations.

A microgrid is an integrated energy system with local distributed energy resources (DERs), such as local loads, generating assets, and possibly energy storage devices, such as batteries or fuel-cells. A microgrid system is typically capable of operating in "islanded" (off-the-grid) or grid-connected mode.

The Microgrid Control Systems Market has been segmented by By Component, By Ownership and Geography.