Microgrid-as-a-Service Market 2021: Global Size, Supply-Demand, Product Type

Posted by Fred Williams on February 25th, 2021

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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