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The global microgrid control system market is projected to reach USD 3.6 billion by 2023, at a CAGR of 13.01%, from an estimated USD 2.0 billion in 2018. Factors such as growing need for reliable & resilient power across the globe, growing investments in microgrid projects, and rising share of power generation through renewable sources of energy are likely to drive the microgrid control system market during the forecast period. Various market regulations and standards have been developed by governments of different countries or by individual committees belonging to the energy & power industry worldwide. For instance, IEEE Standard 2030.7-2017 is the IEEE-approved draft standard for the Microgrid Energy Management System (MEMS). It is the specification of microgrid controllers to enable interoperability of the different controllers and components needed to operate MEMS through cohesive and platform-independent interfaces.

The global microgrid control system market is projected to reach USD 3.6 billion by 2023, at a CAGR of 13.01%, from an estimated USD 2.0 billion in 2018. Factors such as growing need for reliable & resilient power across the globe, growing investments in microgrid projects, and rising share of power generation through renewable sources of energy are likely to drive the microgrid control system market during the forecast period. Various market regulations and standards have been developed by governments of different countries or by individual committees belonging to the energy & power industry worldwide. For instance, IEEE Standard 2030.7-2017 is the IEEE-approved draft standard for the Microgrid Energy Management System (MEMS). It is the specification of microgrid controllers to enable interoperability of the different controllers and components needed to operate MEMS through cohesive and platform-independent interfaces.

The global microgrid control system market is projected to reach USD 3.6 billion by 2023, at a CAGR of 13.01%, from an estimated USD 2.0 billion in 2018. Factors such as growing need for reliable & resilient power across the globe, growing investments in microgrid projects, and rising share of power generation through renewable sources of energy are likely to drive the microgrid control system market during the forecast period. Various market regulations and standards have been developed by governments of different countries or by individual committees belonging to the energy & power industry worldwide. For instance, IEEE Standard 2030.7-2017 is the IEEE-approved draft standard for the Microgrid Energy Management System (MEMS). It is the specification of microgrid controllers to enable interoperability of the different controllers and components needed to operate MEMS through cohesive and platform-independent interfaces.

The CHP market size will grow to USD 35.2 billion by 2026 (forecast year) from USD 26.6 billion in 2021 (estimated year), at a CAGR of 5.8% during the forecast period. Combined heat and power (CHP) is an energy-efficient technology that generates electricity and captures the heat that would otherwise be wasted to provide useful thermal energy, such as steam or hot water. This steam or hot water, in turn, can be used for heating, cooling, and other domestic and industrial processes. The conventional method of producing usable heat and power separately has a typical combined efficiency of 45%, where CHP systems can operate at levels as high as 80%. CHP can be implemented for different types of prime movers, such as gas turbines, steam turbines, reciprocating engines, fuel cells, and microturbines. CHP is also called cogeneration, and it can be used in an individual facility/building or a district energy/utility resource. The technology is typically employed at facilities where there is a need for electricity and thermal energy. It provides benefits such as a reduction in dependency on grid support due to on-site electricity generation, enhanced reliability, reduced costs of energy and initial setup, increased resiliency against power disruption, and reduction in harmful emissions. Critical electrical and thermal loads can be handled by CHP systems during grid power outages. Micro turbines are a type of combustion turbine that produces both heat and electricity on a relatively small scale.

According to a research report "Combined Heat and Power Market by Prime Mover (Gas Turbine, Steam Turbine, Reciprocating Engine, Fuel Cell, Microturbine), Capacity (Up to 10 MW, 10-150 MW, 151-300 MW, Above 300 MW), Fuel, End User and Region - Global Forecast to 2029″, the Combined heat and power market is projected to reach USD 39.2 billion by 2029 from an estimated USD 30.4 billion in 2024, at a CAGR of 5.2% during the forecast period. The demand for combined heat and power (CHP) is growing due to its efficiency in generating electricity and capturing waste heat for heating or cooling purposes, reducing energy costs and emissions. It offers benefits like increased energy efficiency, lower operational costs, and enhanced grid resilience. CHP systems are used in various sectors including industrial facilities, commercial buildings, hospitals, universities, and residential complexes to meet energy needs sustainably.

The demand for combined heat and power (CHP) is growing due to its efficiency in generating electricity and capturing waste heat for heating or cooling purposes, reducing energy costs and emissions. It offers benefits like increased energy efficiency, lower operational costs, and enhanced grid resilience. CHP systems are used in various sectors including industrial facilities, commercial buildings, hospitals, universities, and residential complexes to meet energy needs sustainably.

Remote Working and Digital Signatures The year 2020 has set in motion an irreversible change that will continue to persist in many years to come. Remote working has proven to be resilient to changing business dynamics

Irrespective of the constantly changing market landscape, the trend of remote working is going to stay. And with it, remote business operations and the need to replace paper-based workflow will exponentially increase. Needless to say that now is the best time to switch to smart and holistic digital signature solutions like DrySign.