Report ID: 10064676 |
Published Date: 21 Oct 2022 |
Report Format: |
Delivery Timeline: 48-72 Business Hours
Description
A microgrid is defined as a small network of electricity users with a local source of supply that is usually attached to a centralized national grid but is able to function independently.'It is presented to the macro-grid as a single controlled unit. It is designed around total energy system requirements. Virtual microgrid cover distributed energy resources at multiple sites. This market is yet to bloom but the need for grid stability will make it flourish in the future.
Market Dynamics
The prime driver for the market is the push by the growing distributed energy and increasing peak load prices.A rise innetwork congestion and bottleneckshas triggered the focus on the market. There is anincrease in investment in the market. There is a growing demand for renewable energy resources. The increased reliability and cost reduction is driving the market.
The major restraint on the market is that the market in new and developing. There is a lack of willingness to share information. Health concerns arise due to the impact of radio frequency exposure. The reserve capacity is a concern for the fluctuation in energy demand.
The opportunity for the market lies in the need for a greater grid stability. This could be possible with the advent of IOT enabled products, data analytics, and cloud. Research and development holds a major scope for the future of the market.
Market Segmentation
The market is segmented in terms of the type of users intoresidential, commercial and industrial. The market is divided into demand response, distribution generation and mixed assetson the basis of thetechnology. On the basis of size, the market is divided into generation resources, storage, and advanced controls.
Regional/Geographic Analysis
North America dominates the market. Asia Pacific has the highest growth potential. The smart grid development initiative in India and the increase in renewable energy installation in China makes the demand high for the market.
Key Players
Some of the major players in the market include IBM, Hitachi, ABB, Alstom Grid, Schneider Electric, Siemens AG, Chevron Energy Solutions, Honeywell, Encorp, GE Digital Energy, and Lockheed Martin.
The report contains comprehensive analysis on:
Global Virtual Grids Market Segments
Global Virtual Grids Market Drivers, Restraints and Opportunities
Global Virtual Grids Market Size & Forecast 2016 to 2022
Supply & Demand Value Chain
Global Virtual Grids Market Current Trends
Competition &Major Companies
Technology and R&D Status
Porters Five Force Analysis
Strategic and Critical Success Factor Analysis of Key Players
Regional analysis for Global Virtual Grids Market includes
North America
US and Canada
Latin America
Mexico, Brazil, Argentina and Rest of Latin America
Western Europe
EU5 (Germany, France, Italy, Spain, U.K.)
Nordic Countries (Denmark, Finland, Norway, and Sweden)
Benelux (Belgium, The Netherlands, and Luxembourg)
Rest of Western Europe
Eastern Europe
Russia
Poland
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia and New Zealand
Rest of Asia Pacific
Middle East and Africa
GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
South Africa
North Africa
Rest of Middle East and Africa
This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides in-depth market segmentation that is derived from extensive product mapping exercises, macro-economic factors and other qualitative and quantitative insights. The impact of all such factors are delivered across multiple market segments and geographies.
Report Highlights:
Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
Consumer and Pricing Analysis
Market dynamics of the industry
In-depth Market Segmentation
Historical and Projected Market Sizing in terms of volume and value
Recent market trends and Impact Factors
R&D Status and Technology Overview
Extensive Industry Structure Coverage
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Report ID: 10064676 |
Published Date: 21 Oct 2022 |
Report Format: |
Delivery Timeline: 48-72 Business Hours
