Smart Solar Market Scenario
Solar
power is witnessing an evolutionary change in the recent times. The growing
demand for clean energy, is being catered by many renewable resources including
solar power. 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. 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.
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.
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.
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).
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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