In 2018, the global microgrid control system market size was nearly $2 billion

According to the microgrid control system market report released by Markets and Markets, an international market research institution, the global microgrid control system market size in 2018 was about $2 billion, and it is expected to increase to $3.
6 billion by 2023, with a compound annual growth rate of 13.
01%.

Increasing investments in power grids, renovation of existing power grids, and growing adoption of renewable energy sources across the globe are the driving forces
driving the microgrid control systems market.
At the same time, rising electrification projects and the development of the Internet of Things (IoT) along with communication technologies can bring new opportunities
to the microgrid control system market.

In terms of grid type, the off-grid segment is expected to account for the largest share
of the microgrid control system market during the forecast period.
The off-grid segment led the microgrid control system market in 2018 and is expected to hold the largest market share
during the forecast period.
Remote/island/off-grid microgrids are mainly used to provide various power sources
to geographically remote communities and developing countries.

This growth is mainly attributed to the growing
demand for reliable and sustainable power supply in rural areas in Asia Pacific and the Middle East and Africa.
Moreover, these types of microgrid control systems are in great demand
in military bases, mining, and the oil and gas industry.
Increasing focus on reducing diesel fuel consumption by integrating solar PV and distributed generation is further driving the microgrid control system market
.

In terms of ownership type, the private sector is expected to account for the largest share
of the microgrid control system market.
The private sector dominated the microgrid control system market
in 2018.
Factors such as increasing demand for electricity, rising power generation capacity, and increasing generation from renewable sources are expected to drive the demand
for private microgrid control systems.
In addition, increasing investment in electrification projects, where the high deployment of microgrid technologies has prompted private companies to invest in microgrid control systems
.

From the perspective of regional market, Asia Pacific will continue to dominate the global microgrid control system market
during the forecast period.
The high growth rate in Asia Pacific can be attributed to increased investment in grid development and increasing reliance on
renewable energy generation for power generation.
China and India are the largest markets
for the microgrid control system market in the region.
China accounts for the largest share due to increased investment in electrification projects, and the country accounts for the highest installed and distribution capacity in the Asia-Pacific region, resulting in an increase
in demand for microgrid control systems.

From the perspective of enterprises, the main service providers of global microgrid control systems include ABB (Switzerland), General Electric (United States), Siemens (Germany), Schneider (France), Eaton (Ireland), Emerson (United States), Spiae (United States), Schweitzer (United States), ETAP (United States), S&C Electric (United States), Woodward (United States), PowerSecure (United States), RT SOFT (Germany), Antai Electric (China).