Pune, India -- (SBWIRE) -- 11/06/2018 -- The main objective of this report is to define, describe, and forecast the global "Microgrid Monitoring Systems" market on the basis of types of applications, major sectors, deployment models, organization size, and regions. The report contains an analysis of the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges). It aims to strategically analyze the micromarkets with respect to individual growth trends, prospects, and their contribution to the market. The report attempts to forecast the market size for 5 major regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America. It contains key vendor profiles and comprehensively analyzes their core competencies. The report also tracks and analyzes competitive developments, including partnerships, collaborations, acquisitions, new product developments, and R&D activities in the market. According to the report, the global microgrid monitoring systems market is projected to grow at a CAGR of 17.3% over the forecast period of 2018-2024.

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Inside the complex microgrid design of Quinnipac University

In October 2018, a unique power control system for Quinnipiac University's York Hill Campus, located in Hamden, Connecticut, ties together a range of green energy power generation sources with utility and emergency power sources. The powerful supervisory control and data acquisition (SCADA) system give campus facilities personnel complete information on every aspect of the complex system. Initially constructed when the term microgrid had barely entered our consciousness, the system continues to grow as the master plan's vision of sustainability comes into fruition.

Growing demand for electricity generation through renewable energy sources across the world drives the growth of microgrid monitoring systems market

Growing demand for electricity generation through renewable energy sources across the world and increased installation of grids has driven the growth for the microgrid monitoring systems market. Hence these factors are anticipated to drive the microgrid monitoring systems market. Besides this, developing economies are projected to present considerable opportunities for this market as they are extensively increasing their focus on renewable energy. On the flip side, the high installation cost of these systems hampers the growth opportunities in the underdeveloped countries which in turn, may hamper the market growth especially for small-scale industries with inadequate capital

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Asia Pacific is the largest and the fastest growing region in the microgrid monitoring systems market

Among the geographies, Asia Pacific is the largest and the fastest growing region in the microgrid monitoring systems market. Increased demand for electricity owing to the increasing electricity consumption, rapid urbanization and growing population is driving the microgrid monitoring system market in the Asia Pacific. In addition to this, consciousness regarding energy conservation and the need for providing a continuous supply of electricity to people are also some of the major factor boosting the market growth for the same.

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