As per our research report, the global artificial intelligence in microgrid control systems market size is estimated to be growing at a CAGR of 10.6% from 2024 to 2030.
Microgrids are becoming more and more popular due to the growing requirement for renewable energy to assist the shift to net zero. Microgrids can function in both grid-connected and islanded/isolated modes. They are self-contained electrical networks that link distributed energy resources (DERs) and loads. They function as a single controllable unit. Use cases like frequency regulation and demand response, which frequently call for an optimisation step to be completed in less than a second, are made possible by today's modern microgrids' capacity for real-time optimisation. AI helps predict changes in the energy supply and demand within a microgrid more quickly and accurately.
The coronavirus epidemic has caused significant changes in energy production, prices, and consumption. Governments worldwide have been forced to place limits on commercial activities to slow the virus's spread. People remaining at home because of the coronavirus outbreak has increased the demand for residential or domestic electricity. As a result, more individuals are working from home and need a steady and continuous supply of electricity, which increases the need for AI in microgrid backup solutions.
Artificial Intelligence (AI) and simulation methods enhance microgrid administration and operation. Modern microgrids regulate multiple variables to produce the most efficient, dependable, and clean electricity possible. Even under the best of circumstances, a grid-connected microgrid might struggle to make sense of the massive amounts of data produced by changing weather patterns, fluctuating energy production and consumption patterns, and always fluctuating fuel and electricity costs. Because AI can be used in the planning, implementation, and operation stages of a microgrid, it is beneficial to integrators, equipment suppliers, and microgrid operators.
Growing worries about carbon emissions and the quick development of IoT and communication technologies are the second main factors propelling the global market. The global market for these systems is being impacted by the growing usage of microgrid control systems in industrial and big power plants. Growing renewable energy adoption worldwide and a rise in clean energy projects are expected to drive the growth of the global microgrid control system market shortly. Because micro-grid control systems are so reasonably priced, most small and medium-sized enterprises and homeowners choose them to suit their needs.
The high cost of installing and maintaining the AI in the microgrid control system could pose a serious threat to the market. The expense of normal maintenance is quite high because it requires specialised personnel to perform. This will subsequently increase the system's operating costs. As a result, small industrial businesses are searching for reasonably priced ways to ensure a consistent supply of power. Microgrid control systems are very expensive, but their huge benefits to users far outweigh this. Additionally, there is a need to educate the industries on micro-grid control systems and the latest developments in technology.
With the incorporation of cutting-edge AI technologies, the global market for artificial intelligence in microgrid control systems is going through a revolutionary era. Adaptive energy distribution, predictive maintenance, and real-time optimisation algorithms are some of the major developments. There are opportunities for controlling peak demand, optimising grid dependability, and using machine learning for dynamic load forecasting. The market is expanding, providing opportunities for innovation, higher energy efficiency, and robust microgrid solutions as enterprises prioritise sustainability.
KEY MARKET INSIGHTS:
Based on type, Off-grid microgrids are the biggest in this category, out of all of them. Because these systems are self-sufficient and run apart from the main grid, they are perfect for isolated or distant locations with spotty or nonexistent grid connectivity. In this market, hybrid microgrid control systems stand out as the fastest-growing. With the ability to transition between grid-connected and freestanding modes, these systems combine the benefits of both on- and off-grid options.
Based on End Users, Utilities is the biggest category among them and plays a vital role in controlling and supplying electricity to customers. Conversely, the Industrial sector emerges as the fastest-growing end-user category. Industries need consistent and dependable power sources to meet their unique energy needs. Industry sectors may optimise energy use, improve grid resilience, and save operating costs with AI-driven microgrid control systems
Based on region, North America stands out as the biggest participant in this market among these regions. North America is at the forefront of artificial intelligence integration in microgrid control systems thanks to its sophisticated infrastructure and technological ability. Looking ahead, the Asia-Pacific region is the one that is expected to increase at the fastest rate during the projected period. This amazing increase is attributed to a number of things. The swift urbanisation, industrialization, and population expansion in numerous Asian nations have resulted in amplified energy requirements.
Companies playing a leading role in the global artificial intelligence in microgrid control systems market profiled in this report are Woodward Inc., S&C Electric Company, RT Soft, and Emerson Electric.
On-grid
Off-grid
Hybrid
Utilities
Cities & Municipalities
Defense
Industrial
Others
North America
Europe
Asia-Pacific
South America
Middle East and Africa
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