The microgrid market size is set to grow at a CAGR of 12% during the period 2019-2025. The microgrid market is being driven by deployment of improved distributed energy resources (DER) technologies such as micro turbines, combustion turbines, hydrogen electrolyzers, synchronous generators, hybrid systems, wind systems and other distributed generation technologies. These technologies, when integrated with microgrid, can reduce the carbon footprint significantly as compared to conventional grid. Additionally, the evolution of IoT-based platforms are also increasing the capabilities of microgrid systems. IoT-enabled microgrids are convenient for utilities to track energy consumption in real-time. Demand response application is another factor accelerating the demand for microgrids especially isolated microgrids. The global microgrid market is expected to grow with a CAGR of more than 10% during 2019-2025, due to an increase in government initiatives aimed at achieving optimum energy utili...