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Microgrid Market Worth 38.99 Billion USD by 2022PUNE, India, March 2, 2017 /PRNewswire/ -- According to this market research report "Microgrid Market by Offering (Hardware- Power Generation & Energy Storage System, Software, and Service), Connectivity (Grid Connected and Remote/ Island), Grid Type (AC, DC, and Hybrid Microgrid), Vertical & Geography - Global Forecast to 2022", published by MarketsandMarkets, the market was valued at USD 16.58 Billion in 2015 and is expected to reach USD 38.99 Billion by 2022, at a CAGR of 12.45% during the forecast period. (Logo: http://photos.prnewswire.com/prnh/20160303/792302 ) Browse 84 market data Tables and 67 Figures spread through 171 Pages and in-depth TOC on "Microgrid Market" http://www.marketsandmarkets.com/Market-Reports/micro-grid-electronics-market-917.html Early buyers will receive 10% customization on this report. Factors such as growing demand for automated grid system and enhancement in microgrid connectivity through integration of IoT are driving the growth of the microgrid market. Hardware expected to hold the largest share of the microgrid market during the forecast period The hardware segment held the largest share of the microgrid market in 2016, followed by the software segment. The hardware components are integrated to offer a complete microgrid solution. The hardware offerings include switchgears, power inverters, power generators and energy storage systems, smart meters, and reciprocating engines. Download PDF Brochure @ http://www.marketsandmarkets.com/pdfdownload.asp?id=917 Market for remote/island microgrid expected to grow at the highest CAGR between 2016 and 2022 The key reasons for the high growth of remote microgrids are heavy decline in prices of solar PV and wind power sources, drop in the cost of power generation compared with centralized power grid, and other environmental benefits such as less heat generation and smog. Microgrid market in APAC likely to grow at a high rate during the forecast period The increasing demand for rural electrification projects and the rapidly growing mining vertical in the Indian market, along with investments made by both national and international companies such as ABB, Siemens, GE, and Schneider Electric in this region, are some of the key factors contributing to the growth of the microgrid market in APAC. Inquiry Before Buy @ http://www.marketsandmarkets.com/Enquiry_Before_Buying.asp?id=917 Major players operating in the microgrid market are ABB Ltd. (Switzerland), General Electric (U.S.), Eaton Corporation PLC (Ireland), Siemens AG (Germany), Exelon Corporation (U.S.), Schneider Electric (France), Caterpillar Inc. (U.S.), Power Analytics Corporation (U.S.), HOMER Energy LLC (U.S.), and S&C Electric Company (U.S.). Browse Related Reports Lithium Ion Battery Market by Type (Lithium Cobalt Oxide, Lithium Iron Phosphate, Lithium Nickel Manganese Cobalt), Power Capacity (0 to 3000mAh, 3000mAh to 10000mAh, 10000mAh to 60000mAh), Industry, and Geography - Global Forecast to 2022 Battery Energy Storage System Market by Battery Type (Lithium-Ion, Advanced Lead Acid, Flow Batteries,, & Sodium Sulfur), Connection Type (On-Grid and Off-Grid), Ownership, Revenue Source, Application, and Geography - Global Forecast to 2022 Subscribe Reports from Semiconductor Domain @ http://www.marketsandmarkets.com/Knowledgestore.asp About MarketsandMarkets MarketsandMarkets is the largest market research firm worldwide in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. M&M's flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical info graphics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers. 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