Smart
Solar Market Scenario
The global smart solar market is
estimated to expand at 15.50% CAGR during the forecast period. Smart solar facilitates
various advantages to the end-use segments which install solar panels. For
instance, smart solar collocates the end-user site and provides a personal
recommendation. Also, it helps the end users to save up to 70% of their
electricity bills. Moreover, there are various kinds of solutions being
provided by some of the key players including ground mounted solutions, roof
top solutions, and off-grid systems, among others. Smart solar is a relatively a newer concept that uses the information
and communication technologies to improve the efficiency of urban systems
involving solar power.
Increasing adoption of green energy and the emergence of smart cities, a
substantial rise in solar energy installation, and growing investments in smart
grid are some of the major drivers of the smart solar market. In addition,
increasing regulatory compliance and increasing number of solar energy projects
are some of the factors driving the smart solar market. Smart buildings and
home automation systems are some of key application areas that are witnessing a
strong growth rate. Buildings are getting smarter and have embedded the
technologies, including smart solar.
Leading
Players
The key players of global smart solar market are ABB
(switzerland), GE Power (us), Itron Inc. (us), Schneider Electric (France),
Echelon Corporation (US), Silver Spring Networks Inc. (US), Landis+GYR AG
(switzerland), Sensus USA, Inc. (US), and Urban Green Energy (UGE)
International (US).
Industry
Segmentation
The smart solar market has
been segmented based on solution as asset management, network monitoring,
analytics, supervisory control and data acquisition, remote metering, outage
management, and meter data management. Among these solutions, asset management
is the largest segment in the smart solar market due to the
technological advancements and stringent regulatory mandates across North
America and Europe. However, meter data management is expected to grow at the
highest growth rate within the same segment due to the growing roll-outs of
smart meters and smart grids.
Regional Analysis
Region wise, Asia-Pacific
held the largest market share of the global smart solar market in 2017. It is
estimated that North America would be the largest market during the forecast
period. The increasing investment in smart solar in North America is due to the
information flow and communication technology (ICT) integration, across end-use
segments, especially households and commercial buildings.
Scope of the Report
This research report
provides insights into various levels of analysis, such as industry analysis
and market share analysis for the leading industry competitors, along with
their profiles. It also helps study the target segments by providing views on
the emerging & high-growth segments. The market data comprises the basic
assessment of the competitive scenarios and strategies in the global smart
solar market, including high-growth regions and/or countries, and political and
economic environments. The project report further provides both – historical
market values and pricing & cost analysis
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