Microgrid Control System Market Size, Share, Growth Analysis, By Grid Type(On-Grid, Off-Grid, Hybrid), By Component(Hardware, Software), By Ownership(Private, Public), By End-User(Utilities, Campuses & Institution, Residential, Commercial), By Region - Industry Forecast 2024-2031

Based on the region, the North American region is projected to dominate the global microgrid control system market with respect to market share. This is due to the growing focus on grid modernization in the region. Due to increased investments in the country's grid technology update, the United States is predicted to dominate the North American microgrid control system market. As the number of smart grid projects in Canada has increased, the market has been growing. The market in North America is also projected to continue to grow as a result of the implementation of a strict government regulatory framework.

Additionally, Asia Pacific is also projected to show significant growth prospects over the forecast period. The major markets, contributing to the increasing demand for microgrid control systems, include China and India, which is expected to affect the market positively.

A significant market for microgrid control systems exists in Europe as well. It is currently investing heavily in the modernisation of the electrical grid. For instance, during the next three to five years, TenneT, the transmission operator in the Netherlands and Germany, wants to invest up to €6 Bn. In order to fulfill the EU's new aim of reducing emissions by up to 55 percent by 2030, the corporation is creating new connections, reinforcing and expanding its grid, and improving system operations.