HOME Top Market Reports Microgrid as a Service (MaaS) Market by Grid Type (Grid Connected, and Remote or Islanded), Service Type (Engineering & Design, SAAS, Monitoring & Control, and Operation & Maintenance), Vertical, and Geography - Global Forecast to 2022

Microgrid as a Service (MaaS) Market by Grid Type (Grid Connected, and Remote or Islanded), Service Type (Engineering & Design, SAAS, Monitoring & Control, and Operation & Maintenance), Vertical, and Geography - Global Forecast to 2022

By: marketsandmarkets.com
Publishing Date: December 2016
Report Code: SE 4819

 

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The microgrid as a service (MaaS) market was valued at USD 774.9 Million in 2015 and is expected to reach USD 2,241.6 Million by 2022, at a CAGR of 15.86% during the forecast period. The base year considered for the study is 2015, and the forecast for the market size is provided for the period between 2016 and 2022.

The main objectives of this study are as follows:

  • To define, describe, and forecast the global MaaS market on the basis of grid type, vertical, service type, and geography
  • To provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)
  • To estimate the size of the MaaS market and its various segments
  • To forecast the size of the market segments with respect to the following regions (along with countries): the Americas, Europe, Asia-Pacific (APAC), and Rest of the World (RoW)

The research methodology used to estimate and forecast the MaaS market begins with obtaining data on key vendor revenues through secondary research from sources such as Microgrid World Forum, Mission Critical Magazine, Microgrid Global Innovation Forum, Global Microgrid Institute, Microgrid Knowledge, government sources (World Bank), corporate filings (such as annual reports, investor presentations, and financial statements), and trade, business, and professional associations, microgrid-related journals, certified publications, articles from recognized authors, directories, and database, among others. The vendor offerings have been taken into consideration to determine the market segmentation. The top-down procedure has been employed to arrive at the overall market size of the global MaaS market. After arriving at the overall market size, the total market has been split into several segments and subsegments, which have then been verified through primary research by conducting extensive interviews with key people such as CEOs, VPs, directors, and executives. This data triangulation and market breakdown procedures have been employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments.

Microgrid as a Service (MaaS) Market

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The MaaS system ecosystem comprises microgrid hardware vendors such as General Electric (U.S.), and Eaton Corp. PLC (Ireland), among others; solution vendors such as Siemens AG (Germany), Pareto Energy (U.S.), Spirae, Inc. (U.S.), and Green Energy Corporation (U.S), among others; system integrators such as Northern Power Systems Corp. (U.S.), and ABB Ltd. (Switzerland), among others; and end users including residential and commercial, industrial, government and education, and utility.

Target Audience:

  • Microgrid service providers
  • Microgrid systems integrators and developers
  • Transmission system operators
  • Energy storage vendors
  • Smart grid software vendors
  • Solar PV companies
  • Government agencies
  • Utilities
  • Investor community
  • Research organizations

Scope of the Report:

The global MaaS market, in this research report, has been segmented on the basis of grid type, vertical, service type, and geography.

Global MAAS Market, by Grid Type

  • Grid Connected
  • Remote/Islanded

Global MAAS Market, by Vertical

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

Global MAAS Market, by Service Type

  • Engineering & Design Service
  • Software as a Service (SaaS)
  • Monitoring & Control Service
  • Operation & Maintenance Service

Global MAAS Market, by Geography

  • Americas
  • Europe
  • APAC
  • RoW

Available Customizations:

With the given market data, MarketsandMarkets offers customizations according to a company’s specific needs. The following customization options are available for the report:

  • Company Information
    • Detailed analysis and profiling of additional market players (up to five)

Table of Contents

1 Introduction (Page No. - 14)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Study Scope
           1.3.1 Markets Covered
           1.3.2 Years Considered for the Study
    1.4 Currency
    1.5 Limitations
    1.6 Stakeholders

2 Research Methodology (Page No. - 18)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 List of Major Secondary Sources
                    2.1.1.2 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Primary Interviews With Experts
                    2.1.2.2 Breakdown of Primaries
                    2.1.2.3 Key Data From Primary Sources
                    2.1.2.4 Key Industry Insights
    2.2 Market Size Estimation
    2.3 Market Breakdown & Data Triangulation
    2.4 Research Assumptions

3 Executive Summary (Page No. - 27)

4 Premium Insights (Page No. - 33)
    4.1 Attractive Opportunities for the Global Microgrid as a Service Market
    4.2 Microgrid as a Service Market, By Grid Type
    4.3 Microgrid as a Service Market, By Vertical
    4.4 Microgrid as a Service Market, By Service Type
    4.5 Microgrid as a Service Market, By Geography
    4.6 Life Cycle Analysis, By Region

5 Market Overview (Page No. - 37)
    5.1 Introduction
    5.2 Market Segmentation
           5.2.1 By Grid Type
           5.2.2 By Service Type
           5.2.3 By Vertical
           5.2.4 By Geography
    5.3 Market Dynamics
           5.3.1 Drivers
                    5.3.1.1 Reduction in Operational Costs and Requirement of Negligible Upfront Investments By MaaS Users
                    5.3.1.2 Rising Demand for Msaas From Hospitals, Defense, and Remote Areas
                    5.3.1.3 Availability of Flexi-Pay Options Boosts the Adoption of MaaS Among Low-Income Residential End Users
                    5.3.1.4 High Investments By Governments in Microgrid Infrastructure
                    5.3.1.5 Levelized Cost of Electricity (LCoE) for Wind and Solar Pv Systems in the Last Few Years
           5.3.2 Restraints
                    5.3.2.1 Dominance of Customer-Owned Microgrids
                    5.3.2.2 Policy, Regulations, and Standards
           5.3.3 Opportunities
                    5.3.3.1 Increasing Use of Behind-The-Meter Microgrid Virtual Batteries for Energy Storage
                    5.3.3.2 Rural Electrification in APAC and Africa
           5.3.4 Challenges
                    5.3.4.1 Lack of Awareness and Training Programs for End-Users
                    5.3.4.2 Complexities in Planning and Design of Large-Sized Microgrids

6 Industry Trends (Page No. - 46)
    6.1 Value Chain Analysis
    6.2 Porter’s Five Forces Analysis, 2016
           6.2.1 Bargaining Power of Suppliers
           6.2.2 Bargaining Power of Buyers
           6.2.3 Threat of New Entrants
           6.2.4 Threat of Substitutes
           6.2.5 Intensity of Competitive Rivalry

7 Microgrid as a Service Market, By Grid Type (Page No. - 54)
    7.1 Introduction
    7.2 Grid-Connected Type
    7.3 Remote/Islanded Type

8 Microgrid as a Service Market, By Vertical (Page No. - 61)
    8.1 Introduction
    8.2 Government & Education
    8.3 Residential & Commercial
    8.4 Industrial
    8.5 Military
    8.6 Utility

9 Microgrid as a Service Market, By Service Type (Page No. - 74)
    9.1 Introduction
    9.2 Engineering & Design Service
    9.3 Software as a Service
    9.4 Monitoring & Control Service
    9.5 Operation & Maintenance Service

10 Microgrid as a Service Market, By Geography (Page No. - 85)
     10.1 Introduction
     10.2 Americas
             10.2.1 North America
                        10.2.1.1 U.S.
                        10.2.1.2 Rest of North America
             10.2.2 Latin America
             10.2.3 Brazil
             10.2.4 Rest of Latin America
     10.3 Europe
             10.3.1 Western Europe
                        10.3.1.1 Germany
                        10.3.1.2 France
                        10.3.1.3 U.K.
                        10.3.1.4 Rest of Western Europe
             10.3.2 Eastern Europe
                        10.3.2.1 Russia
                        10.3.2.2 Rest of Eastern Europe
             10.3.3 Rest of Europe
     10.4 Asia-Pacific
             10.4.1 China
             10.4.2 India
             10.4.3 Australia
             10.4.4 Rest of APAC
     10.5 Rest of the World
             10.5.1 Middle East
             10.5.2 Africa

11 Competitive Landscape (Page No. - 114)
     11.1 Introduction
     11.2 Ranking of Market Players, 2015
     11.3 Competitive Situation and Trends
             11.3.1 Partnerships/Collaborations/Agreements
             11.3.2 New Product Launches
             11.3.3 Expansions

12 Company Profiles (Page No. - 120)
(Company at A Glance, Recent Financials, Products & Services, Strategies & Insights, & Recent Developments)*
     12.1 Introduction
     12.2 ABB Ltd.
     12.3 General Electric
     12.4 Siemens AG
     12.5 Eaton Corporation PLC
     12.6 Exelon Corporation
     12.7 NRG Energy, Inc.
     12.8 Pareto Energy
     12.9 Spirae, Inc.
     12.10 Anbaric Transmission, LLC
     12.11 Solarcity Corporation
     12.12 Green Energy Corp.

*Details on Company at A Glance, Recent Financials, Products & Services, Strategies & Insights, & Recent Developments Might Not Be Captured in Case of Unlisted Companies.

13 Appendix (Page No. - 143)
     13.1 Insights of Industry Experts
     13.2 Discussion Guide
     13.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     13.4 Introducing RT: Real-Time Market Intelligence
     13.5 Available Customizations
     13.6 Related Reports
     13.7 Author Details


List of Tables (76 Tables)

Table 1 Microgrid as a Service Market Segmentation, By Grid Type
Table 2 Microgrid as a Service Market Segmentation, By Service Type
Table 3 Microgrid as a Service Market Segmentation, By Vertical Type
Table 4 Functions & Stakeholders in MaaS Value Chain
Table 5 Microgrid as a Service (MaaS) Market: Porter’s Five Forces Analysis
Table 6 Microgrid as a Service Market, By Grid Type, 2013–2022 (USD Million)
Table 7 Microgrid as a Service Market for Grid-Connected Microgrids, By Region, 2013–2022 (USD Million)
Table 8 Microgrid as a Service Market in Americas for Grid-Connected Microgrids, By Region, 2013–2022 (USD Million)
Table 9 Microgrid as a Service Market for Grid-Connected Microgrids, By Vertical, 2013–2022 (USD Million)
Table 10 Microgrid as a Service Market for Remote/Islavded Microgrids, By Region, 2013–2022 (USD Million)
Table 11 Microgrid as a Service Market in Americas for Remote/Islanded Microgrids, By Region, 2013–2022 (USD Million)
Table 12 Microgrid as a Service Market for Remote/Islanded Microgrids, By Vertical, 2013–2022 (USD Million)
Table 13 Microgrid as a Service Market, By Vertical, 2013–2022 (USD Million)
Table 14 Microgrid as a Service Market for Government & Education Vertical, By Region, 2013–2022 (USD Million)
Table 15 Microgrid as a Service Market in Americas for Government & Education Vertical, By Region, 2013–2022 (USD Million)
Table 16 Microgrid as a Service Market for Government & Education Vertical, By Grid Type, 2013–2022 (USD Million)
Table 17 Microgrid as a Service Market for Residential & Commercial Vertical, By Region, 2013–2022 (USD Million)
Table 18 Microgrid as a Service Market in Americas for Residential & Commercial Vertical, By Region, 2013–2022 (USD Million)
Table 19 Microgrid as a Service Market for Residential & Commercial Vertical, By Grid Type, 2013–2022 (USD Million)
Table 20 Microgrid as a Service Market for Industrial Vertical, By Region, 2013–2022 (USD Million)
Table 21 Microgrid as a Service Market in Americas for Industrial Vertical, By Region, 2013–2022 (USD Million)
Table 22 Microgrid as a Service Market for Industrial Vertical, By Grid Type, 2013–2022 (USD Million)
Table 23 Microgrid as a Service Market for Military Vertical, By Region, 2013–2022 (USD Million)
Table 24 Microgrid as a Service Market in Americas for Military Vertical, By Region, 2013–2022 (USD Million)
Table 25 Microgrid as a Service Market for Military Vertical, By Grid Type, 2013–2022 (USD Million)
Table 26 Microgrid as a Service Market for Utility Vertical, By Region, 2013–2022 (USD Million)
Table 27 Microgrid as a Service Market in Americas for Utility Vertical, By Region, 2013–2022 (USD Million)
Table 28 Microgrid as a Service Market for Utility Vertical, By Grid Type, 2013–2022 (USD Million)
Table 29 Microgrid as a Service Market, By Service Type, 2013–2022 (USD Million)
Table 30 Microgrid as a Service Market for Engineering & Design Service Segment, By Region, 2013–2022 (USD Million)
Table 31 Microgrid as a Service Market in Americas for Engineering & Design Service Segment, By Region, 2013–2022 (USD Million)
Table 32 Microgrid as a Service Market in Europe for Engineering & Design Service Segment, By Region, 2013–2022 (USD Million)
Table 33 Microgrid as a Service Market for Software as a Service Segment, By Region, 2013–2022 (USD Million)
Table 34 Microgrid as a Service Market in Americas for Software as a Service Segment, By Region, 2013–2022 (USD Million)
Table 35 Microgrid as a Service Market in Europe for Software as a Service Segment, By Region, 2013–2022 (USD Million)
Table 36 Microgrid as a Service Market for Monitoring & Control Service Segment, By Region, 2013–2022 (USD Million)
Table 37 Microgrid as a Service Market in Americas for Monitoring & Control Service Segment, By Region, 2013–2022 (USD Million)
Table 38 Microgrid as a Service Market in Europe for Monitoring & Control Service Segment, By Region, 2013–2022 (USD Million)
Table 39 Microgrid as a Service Market for Operation & Maintenance Service Segment, By Region, 2013–2022 (USD Million)
Table 40 Microgrid as a Service Market in Americas for Operation & Maintenance Service Segment, By Region, 2013–2022 (USD Million)
Table 41 Microgrid as a Service Market in Europe for Operation & Maintenance Service Segment, By Region, 2013–2022 (USD Million)
Table 42 Microgrid as a Service Market, By Region, 2013–2022 (USD Million)
Table 43 Microgrid as a Service Market in Americas, By Region, 2013–2022 (USD Million)
Table 44 Microgrid as a Service Market in Americas, By Grid Type, 2013–2022 (USD Million)
Table 45 Grid-Connected Microgrid as a Service Market in Americas, By Region, 2013–2022 (USD Million)
Table 46 Remote/Islanded-Microgrid as a Service Market in Americas, By Region, 2013–2022 (USD Million)
Table 47 Microgrid as a Service Market in Americas, By Vertical, 2013–2022 (USD Million)
Table 48 Microgrid as a Service Market in Americas, By Service Type, 2013–2022 (USD Million)
Table 49 Microgrid as a Service Market in North America, By Vertical, 2013–2022 (USD Million)
Table 50 Microgrid as a Service Market in North America, By Service Type, 2013–2022 (USD Million)
Table 51 Microgrid as a Service Market in North America, By Country, 2013–2022 (USD Million)
Table 52 Microgrid as a Service Market in Latin America, By Vertical, 2013–2022 (USD Million)
Table 53 Microgrid as a Service Market in Latin America, By Service Type, 2013–2022 (USD Million)
Table 54 Microgrid as a Service Market in Latin America, By Country, 2013–2022 (USD Million)
Table 55 Microgrid as a Service Market in Europe, By Region, 2013–2022 (USD Million)
Table 56 Microgrid as a Service Market in Europe, By Grid Type, 2013–2022 (USD Million)
Table 57 Microgrid as a Service Market in Europe, By Vertical, 2013–2022 (USD Million)
Table 58 Microgrid as a Service Market in Europe, By Service Type, 2013–2022 (USD Million)
Table 59 Microgrid as a Service Market in Western Europe, By Country, 2013–2022 (USD Million)
Table 60 Microgrid as a Service Market in Western Europe, By Vertical, 2013–2022 (USD Million)
Table 61 Microgrid as a Service Market in Eastern Europe, By Country, 2013–2022 (USD Million)
Table 62 Microgrid as a Service Market in Eastern Europe, By Vertical, 2013–2022 (USD Million)
Table 63 Microgrid as a Service Market in Rest of Europe, By Vertical, 2013–2022 (USD Million)
Table 64 Microgrid as a Service Market in APAC, By Grid Type, 2013–2022 (USD Million)
Table 65 Microgrid as a Service Market in APAC, By Vertical, 2013–2022 (USD Million)
Table 66 Microgrid as a Service Market in APAC, By Service Type, 2013–2022 (USD Million)
Table 67 Microgrid as a Service Market in APAC, By Country, 2013–2022 (USD Million)
Table 68 Microgrid as a Service Market in RoW, By Region, 2013–2022 (USD Million)
Table 69 Microgrid as a Service Market in RoW, By Grid Type, 2013–2022 (USD Million)
Table 70 Microgrid as a Service Market in RoW, By Vertical, 2013–2022 (USD Million)
Table 71 Microgrid as a Service Market in RoW, By Service Type, 2013–2022 (USD Million)
Table 72 Ranking in the MaaS Market, 2015
Table 73 Partnerships/Collaborations/Agreements, 2013–2016
Table 74 New Product Development in the MaaS Market, 2013–2016
Table 75 Expansions in the MaaS Market, 2013–2016
Table 76 Mergers & Acquisitions in the MaaS Market, 2013–2016


List of Figures (68 Figures)

Figure 1 Segmentation of the Microgrid as a Service Market
Figure 2 Microgrid as a Service Market: Research Design
Figure 3 Market Size Estimation Methodology: Bottom-Up Approach
Figure 4 Market Size Estimation Methodology: Top-Down Approach
Figure 5 Data Triangulation
Figure 6 Reduction in Operational Costs and Negligible Upfront Investments Expected to Propel the Microgrid as a Service Market Growth Between 2016 and 2022
Figure 7 Market for Remote/Islanded Microgrids Likely to Grow at A Higher Rate During the Forecast Period
Figure 8 Microgrid as a Servicemarket for Software as a Service Segment Expected to Grow at the Highest Rate During the Forecast Period
Figure 9 Microgrid as a Service Market for Industrial Vertical Expected to Grow at the Highest Rate During the Forecast Period
Figure 10 Americas Would Account for the Largest Market Share in 2016
Figure 11 Increasing Opportunities in Residential & Commercial Vertical Expected to Drive the Global Microgrid as a Service Market During the Forecast Period
Figure 12 Market for Remote/Islandedmicrogrids to Grow at A Higher Rate During the Forecast Period
Figure 13 Residential & Commercial Vertical to Hold the Largest Size of the Global Microgrid as a Service Market During the Forecast Period
Figure 14 Software as a Service Type Expected to Lead the Market During the Forecast Period
Figure 15 Americas to Lead the Microgrid as a Service Market During the Forecast Period
Figure 16 China to Hold the Largest Share of the Microgrid as a Service Market in APAC in 2016
Figure 17 Microgrid as a Service Market in APAC to Be in Its Growth Phase During the Forecast Period
Figure 18 Microgrid as a Service Market, By Geography
Figure 19 Market Dynamics
Figure 20 Microgrids Installed Over the Years By ABB Ltd.
Figure 21 Levelized Cost of Electricity (LCoE) for Wind & Solar Pv Systems (2009 — 2014)
Figure 22 Microgrid as a Service (MaaS) Market: Value Chain Analysis
Figure 23 Porter’s Five Forces Analysis for the Microgrid as a Service (MaaS) Market, 2016
Figure 24 Microgrid as a Service (MaaS) Market: Porter’s Five Forces Analysis
Figure 25 Medium Impact of the Bargaining Power of Suppliers on the MaaS Market, 2016
Figure 26 Medium Impact of the Bargaining Power of Buyers on the MaaS Market, 2016
Figure 27 Low Impact of the Threat of New Entrants on the MaaS Market, 2016
Figure 28 Medium Impact of the Threat of Substitutes on the MaaS Market, 2016
Figure 29 High Impact of the Intensity of Competitive Rivalry on the MaaS Market, 2016
Figure 30 Microgrid as a Service Market, By Grid Type
Figure 31 Asia-Pacific Expected to Exhibit the Highest Growth for Grid-Connected Microgrids During the Forecast Period
Figure 32 Microgrid as a Service Market for Remote/Islanded Microgrids in Latin America Expected to Grow at the Highest Rate During the Forecast Period
Figure 33 Market for Remote/Islanded Microgrids Expected to Grow at the Highest Rate Between During the Forecast Period
Figure 34 Microgrid as a Service Market Segmentation: By Vertical
Figure 35 Microgrid as a Service Market for Industrial Vertical Expected to Grow at the Highest Rate During the Forecast Period
Figure 36 Microgrid as a Service Market in Asia-Pacific for Government & Education Vertical to Grow at the Highest Rate During the Forecast Period
Figure 37 Market for Remote/Islanded Microgrids for Residential & Commercial Vertical to Grow at the Highest Rate During the Forecast Period
Figure 38 Americas Expected to Hold the Largest Market Size Microgrid as a Servicefor Military Vertical By 2022
Figure 39 Microgrid as a Service Market, By Service Type
Figure 40 Microgrid as a Servicemarket for Software as a Service Segment Expected to Grow at the Highest Rate During the Forecast Period
Figure 41 Market for Software as a Service Segment in Western Europe Expected to Hold the Largest Market Size During the Forecast Period
Figure 42 Market in Asia-Pacific for Operation & Maintenance Service Segment Expected to Grow at the Highest Rate During the Forecast Period
Figure 43 Microgrid as a Service Market in Asia-Pacific is Expected to Grow at the Highestrate Microgrid as a Serviceduring the Forecast Period
Figure 44 Microgrid as a Service Market in India Estimated to Grow at the Highest Rate Between 2016 and 2022
Figure 45 Microgrid as a Service Market: By Region
Figure 46 Segmentation: Americas
Figure 47 Snapshot of Market in Americas: Increasing Demand for Reliable and Secure Power Supply is Driving the Market
Figure 48 Segmentation: Europe
Figure 49 Market in Eastern Europe Expected to Grow at the Highest Rate During the Forecast Period
Figure 50 Segmentation: APAC
Figure 51 Snapshot of Market in APAC : Rural Electrification is the Main Factor Driving the Demand for Microgrids in This Region
Figure 52 Segmentation: Rest of the World
Figure 53 Middle East Expected to Hold the Largest Size of the Microgrid as a Service Market in RoW During the Forecast Period
Figure 54 Key Growth Strategies Adopted By the Top Companies, 2013–2016
Figure 55 Market Evaluation Framework: Partnerships/Collaborations/Agreements Fuelled Growth and Innovation Between 2014 and 2016
Figure 56 Battle for Market Share: Partnerships/Collaborations/Agreements Were the Key Strategies
Figure 57 Geographic Revenue Mix of the Major Players in the Microgrid as a Service Market, 2015
Figure 58 ABB Ltd.: Company Snapshot
Figure 59 ABB Ltd.: SWOT Analysis
Figure 60 General Electric: Company Snapshot
Figure 61 General Electric: SWOT Analysis
Figure 62 Siemens AG: Company Snapshot
Figure 63 Siemens AG: SWOT Analysis
Figure 64 Eaton Corporation PLC: Company Snapshot
Figure 65 Eaton Corporation PLC: SWOT Analysis
Figure 66 Exelon Corporation: SWOT Analysis
Figure 67 NRG Energy, Inc.: Company Snapshot
Figure 68 Solarcity Corporation: Company Snapshot

The microgrid as a service (MaaS) market was valued at USD 774.9 Million in 2015 and is expected to reach USD 2,241.6 Million by 2022, at a CAGR of 15.86% during the forecast period. Reduction in operational costs and negligible upfront investments by MaaS end users, rising demand from MaaS from hospitals, universities, and remote regions, and high investments by governments in microgrid infrastructure for improved resilience are expected to boost the demand for MaaS in the coming years.

The MaaS market, on the basis of grid type, has been segmented into grid connected and remote or islanded grid types. Among these two segments, the remote or islanded type is expected to grow at the highest rate during the forecast period. Remote/islanded microgrids allow facilities to better manage distributed energy sources and achieve greater control in meeting energy demands.

The MaaS market, on the basis of vertical, has been segmented into government and education, residential and commercial, industrial, military and utility. Among these segments, the market for industrial vertical is expected to grow at the highest CAGR during the forecast period. Lower energy costs, more reliable and better quality power supply, grid resiliency, access to electricity, fuel independence are some of the advantages, which have increased the adoption of microgrid technology in industrial vertical.

The MaaS market, on the basis of service type, has been segmented into engineering and design service, software as a service, monitoring and control service, and operation and maintenance service. The software as a service is expected to grow at the highest rate during the forecast period followed by operation and maintenance service. With software as a service, microgrid owners have a single point of accountability and a reduced risk of project delays and failures. This results in a safer, more reliable, and more cost-efficient microgrid system.

Microgrid as a Service (MaaS) Market

The MaaS market, based on geography, has been segmented into Americas, Europe, APAC, and Rest of the World. The MaaS market in APAC is expected to grow at the highest CAGR during the forecast period. The market growth in APAC can be attributed to the high investments in the microgrid infrastructure, and increasing need for continuous, uninterrupted, and reliable supply of power and electricity.

Dominance of customer-owned microgrids and policies, regulations, and standards are some of the key challenges in the global MaaS market. Key players in this market focus on strategic partnerships, acquisitions, agreements, and new product launches and developments to increase their revenue. For instance, in August 2015, Blue Lake Rancheria (U.S.) and Humboldt State University's Schatz Energy Research Center (U.S.) partnered with Siemens to build a low-carbon community microgrid to power the government offices, economic enterprises, and critical Red Cross safety shelter-in-place facilities. This project is estimated to reduce 150 tons of carbon per year. In February 2015, Exelon Corp. entered into a partnership with Anbaric Transmission (U.S.) to create a series of microgrids in New York. The collaboration was meant for establishing microgrids ranging from 10 to 200 MW, throughout the state to secure reliability, reduce costs, and improve the efficiency of the surrounding grid.

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