About Smart Solar
The energy crisis concerns has created better responsiveness amongst the users to use the non-renewable energy sources efficiently. It has resulted in people to use renewable energy sources such as solar energy. Smart solar devices are the equipment that offers better efficiency in solar energy extraction. Due to Government Initiatives to discover multiple sources of energy consumers have started getting aware of the smart solar systems gradually.
Attributes | Details |
---|
Study Period | 2018-2028 |
Base Year | 2022 |
High Growth Market | Europe |
Unit | Value (USD Million) |
CAGR | 16.32% |
The Manufacturers having a strong hold in the market are ABB, Sunnova Energy Corp., Schneider Electric, Siemens. Analyst at AMA Research estimates that United States and European Manufacturers will contribute the maximum growth to Global Smart Solar 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.
ABB (Switzerland), Itron (United States), Landis+GYR (Switzerland), Echelon Corporation (United States), Sunnova Energy Corp. (United States), Siemens (Germany), Schneider Electric (France), Silver Spring Networks (United States), Sensus USA Inc. (United States) and UGE (Urban Green Energy) International (United States) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Solar City (United States), GE Energy Infrastructure (United States) and Vivint Solar (United States).
Segmentation Overview
AMA Research has segmented the market of Global Smart Solar market by , Application (Industrial, Commercial and Residential) and Region.
On the basis of geography, the market of Smart Solar has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, 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). Europe region held largest market share in the year 2022. North America, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by Service, the sub-segment i.e. System Integration and Deployment will boost the Smart Solar market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Solution, the sub-segment i.e. Network Monitoring will boost the Smart Solar market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Government Offices and Educational Institutions will boost the Smart Solar market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Emerging Smart City Project across the Globe and Up Surging Technological Innovations in the Solar Energy Infrastructure Development
Market Growth Drivers:
Augmented Green Energy Demand in Recent Years and Increasing electricity Tariffs
Challenges:
Minimum Return on Investment (ROI) and Lack of Awareness in Underdeveloped Regions
Restraints:
Higher Initial Investments and Maintenance Cost and Product Inefficiency
Opportunities:
Increasing Consumer Awareness about Solar Energy Sources and Favorable Government Regulations
Market Leaders and their expansionary development strategies
On 02 July 2018, ABB has announced that it has completed its acquisition of GE Industrial Solutions (GEIS), GE’s global electrification solutions business on June 30, 2018. The 2.6 USD billion transaction was announced on September 25, 2017, and is expected to be accretive to operational EPS in the first year.
International Trade Commission (ITC) have imported solar panels that was harming domestic manufacturing thus, the United States’ President Donald Trump has approved tariffs on solar cells and their respective modules. The imposition of Tariffs led to cancel and postponed more than 2.5 Billion USD Solar installation Projects.
Key Target Audience
Smart Solar companies, Smart Solar Distributors and Traders, Energy Service Companies (ESCOs), Commercial & Industrial (C&I) Customers, Residential Customers, Metering Operators, Regulatory Bodies 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.