Microgrid Market To Register Significant Growth Globally By 2030
Microgrid Market Insights: Microgrid Market is expected to reach valuation of USD 47.62 Billion, with a CAGR of 12.55% during the forecast period (2022 - 2030). During the projection period, the worldwide Microgrid Market is expected to expand rapidly, mostly as a result of rising power generation from renewable energy sources, for which an appropriate grid is needed and might aid the delivery of electricity in the tiniest of areas. According to T&D World, there will be 1,568 projects totaling more than 15 GW of capacity for microgrid deployment by 2016. The microgrid market is probably being driven by all of these causes. The microgrid market has been divided into categories based on type, component, power source, and end-user. The market's hardware subsegment is anticipated to be the biggest sub segment by component. The software sub-segment, however, is anticipated to increase quickly. This expansion may be attributable to the growing usage of software across a...