Microgrid as a Service Market Research Report- Global Forecast 2032

Impact of COVID-19 on the Global Microgrid as a Service Market

A microgrid is a distinct energy system comprising of interconnected loads along with distributed energy resources. It can operate parallel with or independent from the main power grid. Microgrids are considered as smaller versions of the power grids that deliver electricity from producers to the consumers. Microgrid as a service (MaaS) supports the efficient generation and management of electricity. It effectively creates plans for controlling the local energy generation and delivery to avoid interruptions in the power supply. The COVID-19 pandemic has rapidly spread across the globe and has impacted a few industries positively, while several others have been affected negatively. Governments have imposed stringent restrictions confining people to their homes as a precautionary measure to contain the spread of the pandemic. The significant rise in the number of people staying at home has boosted the demand for electricity owing to the high usage of home appliances in domestic spaces. These factors are expected to boost the growth of the (MaaS) market over the projected timeframe.

The people under lockdown have increased the usage of electronic and smart devices more as compared to the pre-lockdown period. During the pandemic, companies have allowed their employees to work from home, which has propelled the use of video and audio-conferencing platforms, including Jio Meet, Zoom, and Microsoft teams, fueling the growth of the (MaaS) market. Furthermore, the increasing requirements for advanced electronic and electric devices, providing enhanced and high-quality output, is also responsible for the growth of the (MaaS) market. This scenario is expected to drive the market share in most of the countries across the globe.

Impact Analysis