Fintech PR
Microgrid Controller Market worth $18.7 billion by 2029 – Exclusive Report by MarketsandMarkets™
CHICAGO, March 22, 2024 /PRNewswire/ — The microgrid controller market is expected to reach USD 18.7 billion by 2029 from USD 6.8 billion in 2024, at a CAGR of 22.6% during the 2024-2029 period according to a new report by MarketsandMarkets™. Various companies are investing in microgrid controller which gives an opportunity for growth in the microgrid controller market. The microgrid controller market is continuously developing, with the presence of multiple players. Americas is likely to contribute significantly to the growth of the microgrid controller market. Similarly, the Asia Pacific, RoW and Europe regions are expected to be the growing market for the forecasted period.
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Browse in-depth TOC on “Microgrid Controller Market” 159 – Tables
60 – Figures
225 – Pages
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Microgrid Controller Market Report Scope: |
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Report Coverage |
Details |
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Market Revenue in 2024 |
$ 6.8 billion  |
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Estimated Value by 2029 |
$ 18.7 billion |
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Growth Rate |
Poised to grow at a CAGR of 22.6% |
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Market Size Available for |
2020–2029 |
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Forecast Period |
2024–2029 |
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Forecast Units |
Value (USD Million/Billion) |
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Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
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Segments Covered |
By Connectivity, Offering, End User and Region |
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Geographies Covered |
North America, Europe, Asia Pacific, and Rest of World |
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Key Market Challenge |
Technological, operational, and security risks associated with microgrids |
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Key Market |
Increasing energy consumption and growing need for renewable energy in Asia |
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Key Market Drivers |
Increasing demand for reliable, uninterrupted power supply |
Grid-connected microgrid controller is expected to have the largest market share in the forecast period.
The grid-connected segment leads the microgrid controller market. These microgrids contribute to grid resilience, enhance power quality, and exhibit minimal environmental impact. They are typically linked to large utility grids and serve diverse areas ranging from small residential clusters to expansive installations like military bases. Power transmission in grid-connected microgrids relies on the main grids; hence, any disruptions to these grids affect overall power transmission networks.
Solar PV technology predominantly powers grid-connected microgrids, which encompass multiple generators, distribution systems, and advanced controls. These microgrids draw on the main power grid for primary energy supply, balance, and backup. Grid-connected microgrids offer more reliable power generation than remote/island microgrids, as they can generate power within their distribution circuits and import it from utility sources.
The microgrid market in the Americas is growing rapidly due to the increase of distributed energy plants and the decrease in energy storage costs. This growth is particularly noticeable in the US. Grid-connected microgrids facilitate renewable energy integration without extensive upgrades, thereby enhancing energy efficiency, resilience, and curbing carbon emissions.
Software & Services offering of the microgrid controller market is predicted to register the highest CAGR in the forecast period.
Microgrid controllers, pivotal in optimizing and managing microgrids, rely on sophisticated software as their core control logic, programmed to enhance power system availability and reduce energy consumption. This software facilitates monitoring, prediction, management, and optimization of energy supply and demand within the microgrid network. To ensure efficiency, proper communication among microgrid hardware components, including generators, wind turbines, solar arrays, and energy storage devices, is essential. Microgrid controller software is purpose-built to integrate these components, enabling efficient interaction and control over energy generation, storage, and consumption.
Service offerings for microgrid controllers encompass feasibility studies, system design, generation optimizer configuration, integration, commissioning support, and training, with regular system check-ups ensuring operational success and compliance with evolving cybersecurity standards. Engineering, monitoring, and maintenance services are pivotal for the effective adoption and development of microgrids, with local involvement promoted through technician training and collaboration with local organizations. Artificial intelligence (AI) presents an innovative avenue for enhancing microgrid maintenance, offering the potential to track, predict, and visualize maintenance needs using machine learning techniques. The energy-as-a-service (EaaS) business model introduces new opportunities in the microgrid controller market, allowing customers to access energy services without upfront capital investments and tailoring agreements to individual energy needs, goals, and local regulations, with fees based on usage, alleviating risk for the microgrid host.
In May 2023, Schneider Electric (France) launched its EcoStruxure Microgrid Flex, which represents a pioneering, standardized microgrid solution aimed at substantially shortening project timelines, thereby enhancing the system’s return on investment.
Growing initiatives for energy and sustainable development in smart cities.
Smart cities represent a groundbreaking approach to urban management aimed at enhancing sustainability and improving residents’ quality of life. As metropolitan populations continue to burgeon and the costs associated with ensuring a reliable power supply rise, the modernization of power delivery becomes imperative. However, the mere replacement of outdated components with new ones is insufficient. The investments made must also address the integration of larger proportions of renewable energy while meeting the heightened demand for reliability and resilience from energy consumers and businesses.
To tackle these challenges, innovative tools such as intelligent energy storage, smart grids, consumer demand response management (DRM), Internet of Things (IoT) technology, and microgrids are being deployed. Among these, microgrid controllers stand out as crucial assets driving the advancement of smart cities. These controllers are instrumental in optimizing energy usage within urban environments, thereby promoting sustainability and environmental responsibility. Leveraging advanced control algorithms and real-time data analytics, microgrid controllers enable the efficient distribution and utilization of energy resources, minimizing waste and enhancing operational efficiency.
Moreover, microgrid controllers play a significant role in achieving emissions reduction goals by facilitating the seamless integration of renewable energy sources into urban energy infrastructure. Through intelligent management of solar, wind, and other clean energy assets, these controllers reduce reliance on fossil fuels, thereby mitigating environmental impact and fostering the transition toward a low-carbon economy. In essence, microgrid controllers are pivotal tools in driving the evolution of smart cities towards greener, more efficient, and sustainable urban landscapes.
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Microgrid controller market for the Asia Pacific region to register the highest CAGR between 2024 and 2029 forecast.
The Asia Pacific region is predicted to register the highest CAGR in the forecast period. Notably, industries like semiconductors & consumer electronics, automotive, metals & mining, and healthcare exhibit robust adoption rates of microgrids within the region. The proliferation of semiconductor and consumer electronics manufacturing facilities, led by key players like TSMC, Samsung, and Sony, is a significant driver of market growth. Key adopters of microgrid technology in Asia Pacific include China, Australia, India, Singapore, and other Southeast Asian nations.
The Asia Pacific microgrid controller industry is forecasted to experience the most rapid growth during the projection period. Analysis of the market encompasses Australia, China, Japan, and the rest of Asia Pacific. In July 2020, Canopy Power entered into a strategic partnership with EDF to jointly develop renewable energy microgrids in Asia. Growth in this region is propelled by extensive rural electrification efforts observed in economies like India, Malaysia, and the Philippines. Moreover, the inadequacy of electricity infrastructure in emerging markets, coupled with the geographical makeup of island nations such as Indonesia and the Philippines, has spurred a rising demand for economical microgrid solutions. These factors are poised to significantly bolster the growth of the microgrid controller market in the Asia Pacific region throughout the forecast period.
Key Players
The report profiles major players in the microgrid controller companies are Schneider Electric (France), General Electric (US), ABB (Switzerland), Siemens (Germany), Eaton (Ireland), Schweitzer Engineering Laboratories, Inc. (US), Honeywell International Inc. (US), Caterpillar (US), S&C Electric Company (US), Power Analytics Corporation (US), Cummins Inc. (US), Tesla Energy (US), Emerson Electric Co. (US), HOMER Energy (US), Hitachi Energy Ltd. (Switzerland), Pareto Energy (US), Encorp (US), Powerhive (Kenya), Enchanted Rock (US), AutoGrid Systems, Inc. (US), Heila Technologies (US), Ameresco, Inc. (US), PowerSecure, Inc. (US), Canopy Power (Singapore), Scale Microgrid Solutions LLC (US), and Spirae, LLC (US).
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Cold Chain RFID Market to Hit $4636.6 Million by 2030: Explore Trends, Segmentation, and Growth Factors | Valuates Reports
BANGALORE, India, Jan. 8, 2025 /PRNewswire/ — Cold Chain RFID Market is Segmented by Product (Sensors, RFID Tag, RFID Reader), by Technology (Passive RFID, Active RFID), by Application (Food and Beverages, Pharmaceutical & Biomedical).
The Cold Chain RFID Market was estimated to be worth USD 1544.1 Million in 2023 and is forecast to a readjusted size of USD 4636.6 Million by 2030 with a CAGR of 16.5% during the forecast period 2024-2030.
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Major Factors Driving the Growth of Cold Chain RFID Market:
The Cold Chain RFID Market is poised for substantial growth, driven by the increasing need for efficient and reliable tracking solutions in the transportation and storage of temperature-sensitive products. RFID technology offers comprehensive monitoring and real-time data collection, ensuring that products such as pharmaceuticals, food, and biologics are maintained within optimal conditions throughout the supply chain.
The ability to provide detailed visibility into the movement and status of goods enhances operational efficiency, reduces losses, and ensures compliance with regulatory standards. Additionally, advancements in RFID technology, including improved sensor integration and data analytics capabilities, further enhance the effectiveness of cold chain management systems.
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TRENDS INFLUENCING THE GROWTH OF THE COLD CHAIN RFID MARKET:
RFID tags are instrumental in driving the growth of the Cold Chain RFID Market by enabling precise tracking and monitoring of temperature-sensitive products throughout the supply chain. These tags provide real-time data on the location and condition of goods, ensuring that products such as pharmaceuticals, food, and perishable items are maintained within optimal temperature ranges during storage and transportation. The ability of RFID tags to offer detailed insights into environmental conditions helps businesses prevent spoilage, reduce waste, and ensure compliance with regulatory standards. As the demand for efficient and reliable cold chain management solutions increases, RFID tags become essential tools for enhancing visibility, improving inventory accuracy, and ensuring the integrity of temperature-sensitive products. This critical functionality propels the adoption of RFID technology in the cold chain sector, thereby driving market growth.
Sensors are a pivotal component driving the growth of the Cold Chain RFID Market by providing essential data on environmental conditions such as temperature, humidity, and vibration. These sensors, integrated with RFID tags, continuously monitor the state of goods throughout the supply chain, ensuring that they remain within specified parameters. The real-time data collected by sensors allows for immediate detection of any deviations, enabling swift corrective actions to prevent product degradation. Advanced sensor technologies enhance the accuracy and reliability of monitoring systems, making them indispensable for maintaining the quality and safety of sensitive products. The increasing emphasis on data-driven decision-making and the need for comprehensive monitoring solutions in the cold chain industry further boost the adoption of sensors, thereby fueling the growth of the Cold Chain RFID Market.
Passive RFID systems drive the growth of the Cold Chain RFID Market by offering a cost-effective and energy-efficient solution for tracking and monitoring products. Unlike active RFID systems, passive RFID tags do not require an internal power source, making them simpler and more affordable to deploy across extensive supply chains. These tags rely on energy from RFID readers to transmit data, enabling widespread adoption without significant infrastructure investments. Passive RFID is ideal for applications where long-term monitoring and low-cost solutions are essential, such as in the transportation of pharmaceuticals and perishable foods. The scalability and durability of passive RFID systems make them suitable for diverse cold chain environments, from warehouses to refrigerated trucks. As businesses seek efficient and economical tracking solutions, the demand for passive RFID systems continues to rise, driving the expansion of the Cold Chain RFID Market.
The increasing demand for traceability in the supply chain is a major factor driving the Cold Chain RFID Market. Traceability ensures that products can be tracked from their origin to their final destination, providing transparency and accountability throughout the supply chain. In the cold chain sector, traceability is crucial for maintaining the quality and safety of temperature-sensitive products such as food, pharmaceuticals, and biologics. RFID technology enables detailed tracking and monitoring, allowing businesses to verify the integrity of their products and comply with regulatory requirements. Enhanced traceability helps in identifying and addressing issues promptly, reducing the risk of product recalls and ensuring consumer safety. The growing emphasis on traceability and the need for reliable tracking solutions significantly boost the adoption of RFID technology in the cold chain industry, driving market growth.
The rapid expansion of e-commerce is a key driver of the Cold Chain RFID Market, as the surge in online retail necessitates efficient and reliable logistics solutions for delivering temperature-sensitive products. The rise of e-commerce platforms has increased the volume of shipments that require strict temperature control, such as fresh food, beverages, and pharmaceuticals. RFID technology facilitates seamless tracking and monitoring of these shipments, ensuring that products are handled appropriately throughout the delivery process. The need for timely and accurate data on product conditions helps e-commerce businesses maintain high standards of quality and customer satisfaction. As e-commerce continues to grow globally, the demand for advanced cold chain management solutions, including RFID systems, escalates, thereby propelling the Cold Chain RFID Market.
Governments are increasingly enforcing standards that necessitate the adoption of advanced technologies like RFID to enhance supply chain transparency and accountability. Compliance with these regulations not only ensures the safety and quality of products but also fosters consumer trust, encouraging businesses to invest in RFID solutions for their cold chain operations. The regulatory push towards enhanced supply chain management significantly boosts the adoption of RFID technology, driving the growth of the Cold Chain RFID Market.
RFID technology provides precise tracking and monitoring, enabling companies to identify inefficiencies and implement corrective measures that lower operational costs. By reducing the incidence of temperature excursions and ensuring that products are maintained within optimal conditions, RFID systems help minimize spoilage and waste, leading to substantial cost savings. Additionally, the automation of inventory management and the reduction of manual labor through RFID technology enhance overall efficiency, further contributing to cost reductions. The ability to achieve higher accuracy and reliability in cold chain operations at a lower cost makes RFID an attractive investment for businesses, driving the adoption and growth of the Cold Chain RFID Market.
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COLD CHAIN RFID MARKET SHARE:
North America leads the market, driven by its advanced logistics infrastructure, high adoption rates of RFID technology in sectors like pharmaceuticals and food, and stringent regulatory standards for cold chain management.
Europe follows closely, with substantial investments in supply chain technologies, strong emphasis on sustainability, and increasing demand for temperature-sensitive products.
Key Companies:
- Alien Technology
- Checkpoint Systems Inc
- Impinj
- Invengo Technology BV
- GAO RFID Inc.
- Avery Dennison Corporation
- Sato Holdings Corporation
- Maka RFID
- Nedap
- Nedap N.V.
- RFID4U (eSmart Source, Inc.)
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DISCOVER MORE INSIGHTS: EXPLORE SIMILAR REPORTS!
– RFID Cold Chain Management Market
– Cold Chain Monitoring Devices Market
– Radio-Frequency Identification (RFID) in Pharmaceuticals Market
– RFID-enabled Scanners Market was estimated to be worth USD 351 Million in 2023 and is forecast to a readjusted size of USD 456.7 Million by 2030 with a CAGR of 3.9% during the forecast period 2024-2030.
– The global Cold-Chain Temperature Loggers market was valued at USD 1120 Million in 2023 and is anticipated to reach USD 2013.3 Million by 2030, witnessing a CAGR of 9.0% during the forecast period 2024-2030.
– Passive RFID Tags for Asset Tracking Market was estimated to be worth USD 103 Million in 2023 and is forecast to a readjusted size of USD 132.3 Million by 2030 with a CAGR of 3.6% during the forecast period 2024-2030.
– RFID Electronic Control Card Market
– Cold Chain Monitoring System Market was estimated to be worth USD 4977.6 Million in 2023 and is forecast to a readjusted size of USD 7248.2 Million by 2030 with a CAGR of 5.4% during the forecast period 2024-2030.
– UHF RFID Chip Market was estimated to be worth USD 683 Million in 2023 and is forecast to a readjusted size of USD 1103.2 Million by 2030 with a CAGR of 7.1% during the forecast period 2024-2030.
– Smart RFID Ear Tag Market was estimated to be worth USD 198 Million in 2023 and is forecast to a readjusted size of USD 263.7 Million by 2030 with a CAGR of 4.2% during the forecast period 2024-2030.
– RFID Inventory Retail Management Market was estimated to be worth USD 7475 Million in 2023 and is forecast to a readjusted size of USD 13150 Million by 2030 with a CAGR of 8.5% during the forecast period 2024-2030.
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Fintech PR
Cost-Effective Solutions: How Online Bookkeeping is Revolutionizing Florida’s Small Businesses
MIAMI, Jan. 8, 2025 /PRNewswire/ — The U.S. accounting services industry, including bookkeeping, is experiencing significant growth, projected to reach over $1 trillion by 2026. This surge reflects the rising demand for innovative financial management solutions, with online bookkeeping emerging as a leading choice for small businesses in Florida.
Online bookkeeping services are meeting this demand by offering cost-effective, efficient, and secure alternatives to traditional financial management. With cloud-based software, businesses can automate processes and access financial data anytime, anywhere, enabling faster, more informed decision-making that boosts both efficiency and productivity.
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“One of the key challenges for small businesses has always been managing finances without overstretching their resources,” says Ajay Mehta, CEO of IBN Technologies. Online bookkeeping solutions provide an efficient, accurate, and cost-effective way to simplify financial management for businesses.
A standout benefit of online bookkeeping is its affordability. Small businesses can significantly reduce costs by eliminating the need for in-house staff and expensive software. Instead, they only pay for the services they need, freeing up resources for critical investments like marketing and growth.
Beyond cost savings, online bookkeeping services enhances accuracy and security. Advanced encryption technology and automated workflows minimize human error and protect sensitive financial data. Small business owners can rest assured knowing their financial records are accurate and secure, enabling them to focus on scaling their operations.
“Financial technology is no longer just about convenience—it’s about empowering businesses to make smarter, data-driven decisions,” added Ajay Mehta, CEO of IBN Technologies. “By adopting online bookkeeping, Florida’s small businesses can position themselves for long-term success in an increasingly competitive market.”
As Florida’s small businesses navigate a competitive landscape, embracing online bookkeeping is no longer just an option—it’s a necessity. Solution providers like IBN Technologies are at the forefront of this transformation, offering tailored, reliable, and cost-effective online bookkeeping services that empower small businesses to simplify financial management and achieve sustainable growth. By partnering with IBN Technologies, businesses gain access to innovative tools and expertise that help them stay ahead in today’s dynamic market.
Therefore, online bookkeeping is changing the game for Florida’s small businesses, delivering cost-effective and secure financial management solutions. By adopting these innovative tools and partnering with trusted providers like IBN Technologies, businesses are empowered to operate more efficiently, allocate resources strategically, and focus on what matters most—driving growth and success.
About IBN Technologies
IBN Technologies LLC, an outsourcing specialist with 25 years of experience, serves clients across the United States, United Kingdom, Middle East, and India. Renowned for its expertise in RPA, Intelligent process automation includes AP Automation services like P2P, Q2C, and Record-to-Report. IBN Technologies provides solutions compliant with ISO 9001:2015, 27001:2022, CMMI-5, and GDPR standards. The company has established itself as a leading provider of IT, KPO, and BPO outsourcing services in finance and accounting, including CPAs, hedge funds, alternative investments, banking, travel, human resources, and retail industries. It offers customized solutions that drive efficiency and growth.
Contact Details:
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66 West Flagler Street Suite 900 Miami, FL 33130
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Fintech PR
Davidson Kempner and Afendis complete acquisition of YSCO, advancing Glacier’s ambitions in European ice cream market
LONDON, Jan. 8, 2025 /PRNewswire/ — Davidson Kempner Capital Management LP (“Davidson Kempner“), a global investment management firm, supported by operating partner Afendis Capital Management (“Afendis”), has completed the acquisition (the “Transaction”) of ice cream producer YSCO through its ice cream investments platform, Glacier. Financial terms of the transaction were not disclosed.
The acquisition is transformational for Glacier’s ambitions to grow in the global ice cream industry, with YSCO joining Gelato d’Italia which was acquired in 2022. Gelato d’Italia is a leading independent ice cream producer with two sites in Italy and a key innovation and manufacturing partner for ice cream brand owners and retailers worldwide.
Bringing Gelato d’Italia together with YSCO will create one of the largest third-party ice cream manufacturers globally with revenues in excess of €600 million. Aligned in their commitments to innovation, efficiency and customer satisfaction, the companies are highly complementary in operations and ethos.
YSCO works closely with almost all the mainstream European retailers for the co-creation and production of their home-brand ice cream products. YSCO has production capabilities in Belgium and France and distributes up to 200 million liters of ice cream per year, predominately within the European market.
Glacier aims to leverage its scale to become a key partner to ice cream brand owners worldwide, aided by its commitment to delivering the fastest ideation-to-launch for new products.
Working with these international brand owners, Glacier is targeting international expansion and becoming the third-party ice cream manufacturer of choice.
Bert Van Nieuwenborgh, CEO of YSCO, said:
“This acquisition represents an exciting opportunity for YSCO to accelerate our growth as part of Glacier’s ambitious vision. As Europe’s second-largest private label ice cream producer, our expertise in large batch production and strong retailer relationships perfectly complement Glacier’s innovative approach. Together, we are well-positioned to lead the way in a rapidly growing and evolving market, delivering exceptional value to our partners and customers.”
Cem Karakaş, Chairperson of Glacier and Partner at Afendis, said:
“Glacier is perfectly positioned to capitalize on strong growth in the fragmented European third-party ice cream sector. By building on the success of Gelato d’Italia and leveraging YSCO’s scale and expertise in long-run production of large batch products, Glacier is well-placed to be a leading player in Europe. This acquisition will be the launchpad for further expansion across the globe.”
About Davidson Kempner Capital Management LP
Davidson Kempner Capital Management LP is a global investment management firm with over 40 years of experience and a focus on fundamental investing with a multi-strategy approach. Davidson Kempner has approximately $37 billion in assets under management and over 500 employees across seven offices: New York, Philadelphia, London, Dublin, Hong Kong, Shenzhen and Mumbai. Additional information is available at: www.davidsonkempner.com.
About Afendis Capital Management
Afendis Capital Management is a specialist investor and investment manager of food and pharmaceutical businesses.
About Glacier
Glacier is a global ice cream investments platform backed by Davidson Kempner Capital Management and Afendis Capital Management. It unites leading producers like YSCO and Gelato d’Italia, creating one of the world’s largest third-party manufacturers with revenues over €600 million. Glacier specializes in innovation, efficiency, and rapid ideation-to-launch, partnering with brand owners and retailers worldwide to drive growth and set new industry standards.
Contact details:
Davidson Kempner Capital Management LP
[email protected]
Afendis Capital Management
Matthew Frost
[email protected]
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