Smart Solar Market

Global Smart Solar Market Analysis and Opportunity Assessment by Product, Solution, End-Use, Region, and Country – Forecast 2022 – 2032

The market is expected to generate an incremental $ opportunity of US$ 27,600.6 Mn between 2022 and 2032

Category: Clean Energy & Power

|

ID: CVC-00320

|

Format: PDF+Excel Dataset

|

Published Date: October 2022

|

Pages: 280

Smart Solar Market Size Analysis

According to a research survey conducted by ChemView Consulting, in 2022, the Global Smart Solar Market was worth US$ 8,958.7 Mn and is expected to grow at a CAGR of 15.1% over the forecast period. The market is expected to hit US$ 36,559.3 Mn by 2032 end. From 2017–2021, when the market’s CAGR was 12.6%, the market underwent significant growth.

The rapid growth in the number of consumers and their demand for solar panel products has driven the smart solar market globally, thereby increasing its potential. The implementation of smart solar solutions helps users to minimize their electricity expenses and increase the efficiency of solar components through real-time monitoring and communication.

Market Dynamic

THE GROWTH IN THE ROOF-FRIENDLY INSTALLATION FUELS MARKET GROWTH

Smart solar systems, as opposed to conventional solar systems, help reduce waste and make the best use of power. This function of smart solar systems promotes industrial development and lowers the price of energy production. As solar PV panels are used in solar power systems, they must be installed so they face the sun at all times. Mounting solar panels on rooftops is therefore recommended. Lightweight solar panels were developed to make installing solar panels on rooftops easier. Additionally, no holes had to be put in the rooftop to install them, and rainwater neither disturbs the racks nor collects in the panels.

GOVERNMENTAL REGULATIONS AND SUBSIDIES CREATE  THE MARKET GROWTH OPPORTUNITIES

To boost the Smart Solar Market Outlook, many nations have provided incentives for installing Smart Solar systems in their domestic structures. Germany maintains a higher value in obtaining solar capacity, making it one of the top participants. Various Smart Solar sectors use different growth tactics to raise the market value, including mergers and acquisitions, partnerships, and collaborations. In contrast to the residential division, the commercial and industrial parts drive the market’s demand. This is a significant possibility for the value of the need for smart solar to increase.

HIGH COSTS AFFECT THE MARKET GROWTH

The expansion of the smart solar market is being hampered by the demand for greater starting expenses and higher maintenance costs. Smart solar systems, largely digital, can track the weather and use that information to project the solar system in agreement with requirements.

Data management problems and the need to replace devices are two problems impeding the market’s expansion. Solar power plants involve a large amount of land to be installed, but solar PV systems cannot be placed on the ground that is already developed, forested, or used for agriculture. The biggest barrier to the market’s expansion is unstable terrain because solar PV systems cannot be installed there.

Smart Solar Market

Market Segments Covered in Report

By Product:

  • Photovoltaic Cells
  • Photovoltaic Panels
  • Invertors
  • Generators
  • Other Products

By Solution:

  • Asset Management
  • Network Monitoring
  • Meter Data Management
  • Analytics
  • Remote Metering
  • Outage Management

By End-Use:

  • Commercial
  • Industrial
  • Residential

By Region and Country:

  • North America (U.S., Canada)
  • Latin America (Brazil, Mexico, Rest of Latin America)
  • Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
  • Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
  • Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
  • Africa (South Africa, Nigeria, Egypt, Rest of Africa)

Segment-Wise Analysis

Why is Asset Management projected to have the highest Pace?

The asset management segment held a dominant smart solar market share in 2021. The market is segmented based on service: asset management, network monitoring, remote metering,  meter data management, and others. Technological innovation has led to additional functionality of meter data management to support more business processes through the utility value chain, such as customer billing, credit management, and meter asset management.

Why is the intelligrid segment expected to expand the fastest during the forecast period?

The intelligrid segment held a predominant share of the market. Intelligrid is a fully functional power delivery system incorporating sensors, communications, enhanced computational ability, and electronic control. It delivers reliable, digital-grade power to government initiatives for adopting non-conventional energy sources, along with the surging electricity tariffs and gas prices.

Region-Wise Analysis

The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.

  • North America held the largest share of the Smart Solar Market in 2021, up to 34.7 %. The North American market is expected to be the leading global market for smart solar meters in the forecast period. The growing number of smart solar projects in the region further increases vendors’ demand for this product. Additionally, many grants and subsidies have been provided by the U.S. government to boost their solar energy installation rates, facilitating faster growth in the region.
  • The Asia Pacific is predicted to be the fastest-growing region in the solar power market. The main reason for this growth is government support for solar energy and growing smart city projects. We find that high solar irradiance and low manufacturing cost of components are key factors driving the market growth, encouraging countries such as China and India to install more solar power systems.

Competition Analysis

As the industry grows in demand, it is imperative to invest in research and development efforts to propel market growth across the forecast period. The global pandemic has proven to be a formidable hurdle for several pharmaceutical companies, and most are rethinking their development strategies.

Some of the key developments that have taken place in the Smart Solar Market include the following:

  • January 2018, Itron, Inc., a market leader in technology and consulting services, declared that the acquisition of Silver Spring Networks, Inc. was now complete. With this acquisition, Itron has improved its capacity to offer a wider range of solutions, accelerate growth and innovation in smart cities and industrial IoT markets, and give customers more choice and flexibility when adopting IoT solutions.
  • November 2020, Solarcentury has agreed to be acquired by Statkraft, the largest renewable energy generator in Europe. This purchase is consistent with the business’s plan to expand as wind and solar energy developer and rank among the world’s top renewable energy businesses.

A list of some of the key suppliers present in the market are:

  • ABB
  • Itron Inc.
  • Aeris
  • Solnet Group
  • Aclara Technologies LLC
  • General Electric
  • Huawei Technologies Co., Ltd
  • Siemens
  • Landis+Gyr
  • Schneider Electric
  • HCL Technologies

Global Smart Solar Market 2022-2032: Report Coverage and Highlights

  • Assessment of the historical and current market size (2017-2021), market projections (2022-2032), and its contribution to the parent market
  • Key drivers, restraints, opportunities, and key emerging trends impacting market growth
  • Predictions on critical supply, demand, and technological trends and changes in consumer behavior
  • Value chain analysis (list of manufacturers, distributors, end-users, average profitability margins, etc.)
  • Segment-wise, country-wise, and region-wise market analysis
  • Competition mapping, market share analysis, key strategies adopted by top players, and competitive tactical intelligence
  • Key product innovations and regulatory framework
  • Covid-19 impact on the market and how to navigate
  • Strategic market analysis and recommendations on crucial winning strategies
Research Scope Details
Forecast period 2022-2032
Historical data available for 2017-2021
Market analysis USD Million for Value and Tons for Volume, and CAGR from 2022 to 2032
Key regions covered North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa
Key countries covered US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt
Key segments covered By Product, Solution, End-Use, and Region
Customization scope Available upon Request
Pricing and purchase options Available upon Request
  • Report Includes

    Market Size Data

    • Global market size data, historical (2018 to 2022) and forecast (2023 to 2033), by each segment and region
    • Regional level market size data, historical (2018 to 2022) and forecast (2023 to 2033), by each segment and country
    • Country level market share data, historical (2018 to 2022) and forecast (2023 to 2033), by each segment
    • Market attractiveness analysis based on market share index and CAGR index for each of the segments and regions
    • Incremental dollar opportunity generated in the forecast period would be indicated
    • Key Takeaways, Recommendations, and key investment pockets for the relevant segments would be highlighted

    Market Background

    • Macroeconomic factors that impact the market developments
    • Market dynamics (Drivers, Restraints, Opportunities) that positively or negatively influence market growth
    • Supply Side and Demand Side trends – trends witnessed from buyers and suppliers side
    • Production and Consumption Gap Analysis – analysis of gap between production and consumption in any geography to fulfil unmet demand
    • Trade analysis and analysis of key supply and demand hubs
    • Identification of hotbed opportunities existing in the market
    • Porter’s and PEST analysis to understand the business environment of the geography
    • Regulatory scenario – Identification of key sector specific and trade regulations, and assessment of whether it helps or hinder market development & growth

    Pricing Analysis

    • Regional-level product pricing analysis to set and benchmark your current or future product offerings across each product type
    • Historical and projected pricing trends of the product which helps in determining the product’s price and/or services beneficial for companies product lifecycle
    • Cost teardown analysis and key factors impacting pricing

    Value Chain Analysis

    • Country-wise list of raw material suppliers
      • Raw material price trends and buyers’ sentiment
      • Overview of Intelligent Sourcing Technique
      • Raw material procurement requirements
      • Vendor selection criteria
    • Country-wise list of product manufacturers
    • Country-wise list of distributors/traders
    • Country-wise list of end-users
      • End-Users/Customers consumption mapping
      • Key End-Users/Customers client list
    • Country-wise list of other key channel partners
    • Average profitability margins
    • Regional value chain dynamics

    Competition Analysis

    • Market shares and production capacities of key players
    • Tier structure analysis of market
    • Comprehensive competition dashboard representing the top 10-15 players in the market
    • Individual company profiles of top 15 to 20 manufacturers
      • Business Overview
      • Product Portfolio
      • Key Financials
      • Recent Developments
      • SWOT Analysis
      • Strategies

Country Coverage
North America: U.S., Canada
Latin America: Brazil, Mexico, Argentina, Central America, Rest of Latin America
Western Europe: Germany, Italy, France, UK, Spain, Poland, Romania, Rest of Western Europe
Eastern Europe: Russia & Belarus, Balkan Countries, Baltic Countries, Central Asia, Rest of Eastern Europe
Middle East & Africa: KSA, UAE, Turkey, Israel, Northern Africa, South Africa, Rest of Middle East & Africa
East Asia: China, Japan, South Korea
South Asia & Pacific: India, ASEAN, Australia & New Zealand, Rest of South Asia & Pacific

Why Choose CVC Market Research?;

  • Specialized market research company
  • Impeccable and deep industry expertise
  • Wide range of offerings
  • Robust research methodology and statistical models with least deviation
  • Extensive reports and full-service consulting
  • Expert panel sanctioned industry outlook
  • Growth dynamics for calculated investments
  • Tri-level quality guarantee
  • 6 months unlimited post-sales support
  • Regular planned and contracted report updates

Frequently Asked Questions

In the forecast period between 2022 and 2032, the market is expected to grow at a CAGR of 15.1%.

Increasing investments in the smart energy sector and falling solar PV costs are two of the key drivers propelling the market’s expansion.

Major global Smart Solar Market players are ABB, Itron Inc., Aeris, Solnet Group, Aclara Technologies LLC, General Electric, Huawei Technologies Co., Ltd, Siemens, Landis+Gyr, Schneider Electric, HCL Technologies

The North America region is anticipated to account for the largest market revenue share in the Global Smart Solar market.

  1. Executive Summary
    • Global Market Snapshot
    • Key Success Factors
    • Strategic Analysis and Recommendations
  2. Market Overview
    • Market Taxonomy
    • Market Definitions
  3. Research Methodology
    • Preliminary Investigation & Research Design
    • Secondary Research & Primary Research
    • Data Analysis & Econometric Modelling
    • Expert Data Validation
  4. Key Emerging Trends Analysis
    • Supply-Side Trends
    • Demand-Side Trends
  5. Global Smart Solar Market Value (US$ Mn) and Volume (Tons) Analysis
    • Global Market Value (US$ Mn) Analysis, 2017 – 2032
    • Incremental $ Opportunity Index, 2022-2032
    • Global Market Volume (Tons) Analysis, 2017 – 2032
  6. Global Smart Solar Market Pricing Analysis
    • Regional Level Pricing Analysis and Forecast
      • Manufacturers Level Pricing
      • Distributor Level Pricing
    • Global Pricing Analysis Benchmark
    • Cost Breakdown Analysis
  7. Cross-Sectional Analysis
    • Cross Analysis of Solution W.R.T. Product
  8. Supply Vs. Demand Analysis
    • Regional Supply Vs. Demand Gap Assessment
    • Top Producing Countries Analysis
  9. Market Background
    • Macroeconomic Factors
    • Forecast Factors
    • Market Dynamics
      • Driver
      • Restraint
      • Opportunity
    • Supply Chain Analysis
      • List Raw Material Suppliers
      • List of Manufacturers
      • List of Distributors
      • List of End-Users
      • Average Profitability Margin Analysis
    • Covid-19 Impact Assessment
      • Economy/Cluster Projections
      • Covid-19 Economic Assessment
      • Potential Impact on Target Market
      • Recovery Scenario
    • Regulatory Framework
      • Regulations of Key Countries
      • Potential Impact of Regulations
    • Porter’s Five Forces Analysis
    • Technology Landscape
  10. Global Smart Solar Market 2017 – 2032 By Product
    • Introduction
    • Key Market Trends
    • Historical and Current Market (2017-2021) and Future Market Analysis (2022-2032) By Product [Value (US$ Mn) and Volume (Tons) Analysis]
      • Photovoltaic Cells
      • Photovoltaic Panels
      • Invertors
      • Generators
      • Other Products
    • Market Attractiveness Analysis by Product
  11. Global Smart Solar Market 2017 – 2032 by Solution
    • Introduction
    • Historical and Current Market (2017-2021) and Future Market Analysis (2022-2032) By Solution [Value (US$ Mn) and Volume (Tons) Analysis]
      • Asset Management
      • Network Monitoring
      • Meter Data Management
      • Analytics
      • Remote Metering
      • Outage Management
    • Market Attractiveness Analysis by Solution
  12. Global Smart Solar Market 2017 – 2032 by End-Use
    • Introduction
    • Historical and Current Market (2017-2021) and Future Market Analysis (2022-2032) By End-Use [Value (US$ Mn) and Volume (Tons) Analysis]
      • Commercial
      • Industrial
      • Residential
    • Market Attractiveness Analysis by End-Use
  13. Global Smart Solar Market Historical Analysis 2017 – 2021 and Forecast 2017 – 2032 by Region
    • Introduction
    • Key Market Trends
    • Historical and Current Market (2017-2021) and Future Market Analysis (2022-2032) By Region [Value (US$ Mn) and Volume (Tons) Analysis]
      • North America
      • Latin America
      • Europe
      • Asia-Pacific
      • Middle East
      • Africa
    • Market Attractiveness Analysis by Region
  14. North America Smart Solar Market Historical Analysis 2017 – 2021 and Forecast 2022-2033
    • Introduction
    • Key Market Trends
    • Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]
      • By Country
        • U.S.
        • Canada
      • By Product
      • By Solution
      • By End-Use
    • Market Attractiveness Analysis
      • By Country
      • By Product
      • By Solution
      • By End-Use
  1. Latin America Smart Solar Market Historical Analysis 2017 – 2021 and Forecast 2017 – 2032
    • Introduction
    • Key Market Trends
    • Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]
      • By Country
        • Brazil
        • Mexico
        • Rest of Latin America
      • By Product
      • By Solution
      • By End-Use
    • Market Attractiveness Analysis
      • By Country
      • By Product
      • By Solution
      • By End-Use
  1. Europe Smart Solar Market Historical Analysis 2017 – 2021 and Forecast 2017 – 2032
    • Introduction
    • Key Market Trends
    • Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]
      • By Country
        • Germany
        • Italy
        • France
        • UK
        • Spain
        • Netherlands
        • Norway
        • Russia
        • Rest of Europe
      • By Product
      • By Solution
      • By End-Use
    • Market Attractiveness Analysis
      • By Country
      • By Product
      • By Solution
      • By End-Use
  1. Asia-Pacific Smart Solar Market Historical Analysis 2017 – 2021 and Forecast 2017 – 2032
    • Introduction
    • Key Market Trends
    • Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]
      • By Country
        • China
        • Japan
        • South Korea
        • India
        • Indonesia
        • Thailand
        • Vietnam
        • Australia & New Zealand
        • Rest of Asia-Pacific
      • By Product
      • By Solution
      • By End-Use
    • Market Attractiveness Analysis
      • By Country
      • By Product
      • By Solution
      • By End-Use
  1. Middle East Smart Solar Market Historical Analysis 2017 – 2021 and Forecast 2017 – 2032
    • Introduction
    • Key Market Trends
    • Pricing Analysis
    • Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]
      • By Country
        • Saudi Arabia
        • Turkey
        • U.A.E.
        • Rest of the Middle East
      • By Product
      • By Solution
      • By End-Use
    • Market Attractiveness Analysis
      • By Country
      • By Product
      • By Solution
      • By End-Use
  1. Africa Smart Solar Market Historical Analysis 2017 – 2021 and Forecast 2017 – 2032
    • Introduction
    • Key Market Trends
    • Pricing Analysis
    • Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]
      • By Country
        • South Africa
        • Nigeria
        • Egypt
        • Rest of Africa
      • By Product
      • By Solution
      • By End-Use
    • Market Attractiveness Analysis
      • By Country
      • By Product
      • By Solution
      • By End-Use
  2. Competition Analysis
    • Tier Structure Breakdown
    • Market Share Analysis
    • Production Capacity Analysis
    • Company Footprint Analysis
      • Product Footprint of Players
      • Regional Footprint of Players
      • Channel Footprint of Players
    • ChemView’s Competitor Positioning Matrix
  3. Company Profiles
    • ABB
      • Company Overview
      • Product & Financial Portfolio
      • Manufacturing Facilities
      • Recent Developments
      • SWOT Analysis
      • Strategy Overview
    • Itron Inc.
    • Aeris
    • Solnet Group
    • Aclara Technologies LLC
    • General Electric
    • Huawei Technologies Co., Ltd
    • Siemens
    • Landis+Gyr
    • Schneider Electric
    • HCL Technologies
  4. Assumptions and Acronyms

User License

Single User License
Multi User License
Corporate User License
Data Pack/Excel

We Accept

Chem view Chem view Chem View Chem view
Chem View

Safe & Secure Payments

Let us Help You!

Facing issues finding the exact research to meet your business needs? Let us help you! One of our Research Executives will help you locate the research study that will answer your concerns.

Connect with Us!

    Let us Help you!

    Facing issues finding the exact research to meet your business needs? Let us help you! One of our Research Executives will help you locate the research study that will answer your concerns.

    Speak to Analyst

    Connect with Us!