About Smart Solar Solutions
Smart solar solutions help to maximize energy production and effective storage systems to store energy for future use. Increasing transition to clean and green energy production by the commercial and utility sector has accelerated the adoption of smart solar solutions. Further, increased demand for standard solar system installation to the EV charging facilities will create significant opportunities for smart solar solutions in the nearer future.
Attributes | Details |
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Study Period | 2018-2032 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 15.4% |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Smart Solar Solutions market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Smart Solar Solutionz (India), ABB Ltd (Switzerland), SunPower (United States), Siemens (Germany), Eaton Corporation (Ireland), Schneider Electric (France), Flex Ltd. (Singapore), Itron Inc. (United States), Panasonic (Japan) and ENGIE Mobisol GmbH (Germany) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are SMA Solar Technology (Germany), General Electric (United States), Trina Solar (United States), SunEdison (United States) and Canadian Solar (Canada).
Segmentation Overview
AMA Research has segmented the market of Global Smart Solar Solutions market by Type (PV Modules, Trackers, On/Off-Grid Solutions, Inverters and Others), Application (Residential, Commercial and Industrial) and Region.
On the basis of geography, the market of Smart Solar Solutions has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Sales Channel, the sub-segment i.e. Online will boost the Smart Solar Solutions market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increased Focus on the Technological Development of Solar PV Modules to Improve Energy Efficiency
Market Growth Drivers:
Surging Demand of Smart Solar Solutions for Monitoring and Increasing Solar Components Efficiency and High Growth of Renewable Energy Sector and Installment of Solar Plants in the Developing Countries like India and China
Challenges:
Requirement of More Maintenance for the Smart Tracking Solutions and not Capable for Snowy Weather
Restraints:
High Cost Associated with Smart Solar Solutions and Installation Can Limit the Market
Opportunities:
Increasing Initiative by the Government to Install Solar Plants in the Rural and Mountain Areas to Provide Electricity
Market Leaders and their expansionary development strategies
In 2020, Trina Solar announced the renewal of the global brand for tracker business to strengthen its brand influence, offer better service, and more added value to global customers. Further, Trina Solar acquired the remaining 49% stake in Nclave. The acquisition will allow Trina Solar to leverage Nclave’s R&D, design, products, and global service network to develop advanced and innovative solutions.
January 2024, Huawei, a digital technology company, has launched a smart solar solution product. The new launch is smart design with a smart guard that has an intelligent energy management, smart metre, and dongle.
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Smart Solar Solutions Manufacturers, Raw Material Providers, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations, End-Users and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.