<p><strong>Market Synopsis</strong></p>
<p>The global microgrid market was valued at USD 18.74 billion in 2017 and is expected to reach USD 33 billion in 2023 with a healthy CAGR of 10.28%.</p>
<p>Rapid digitization has witnessed variations from centralized energy systems to distributed and decentralized energy systems encouraging the application of microgrid systems for energy production. Microgrid systems comprise a network of interconnected loads and distributed energy resources that act as a single compact grid. A number of these compact grids can then be integrated to operate individually or as a hybrid grid. These microgrid systems can improve energy efficiency and reliability
<p>The global microgrid market was valued at USD 18.74 billion in 2017 and is expected to reach USD 33 billion in 2023 with a healthy CAGR of 10.28%.</p>
<p>Rapid digitization has witnessed variations from centralized energy systems to distributed and decentralized energy systems encouraging the application of microgrid systems for energy production. Microgrid systems comprise a network of interconnected loads and distributed energy resources that act as a single compact grid. A number of these compact grids can then be integrated to operate individually or as a hybrid grid. These microgrid systems can improve energy efficiency and reliability
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