Smart Solar Market Research Report 2023 by Key Players: ABB, GE Power, Itron, Schneider Electric, Echelon Corporation, Silver Spring Networks, Sensus USA, and Urban Green Energy

Smart Solar Market Scenario

The global smart solar market is projected to grow at a high rate during the forecast period, mainly due to the regulatory mandates across the globe, especially North America, Europe, and Asia-Pacific. For instance, Hawaii’s redesign of utility incentives provides a model for how utilities can benefit from solar growth. Also, Virginia’s major utility initiated the first step toward significant solar procurement in accordance with new state law. All these factors are likely to drive the smart solar market.

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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. This increase in the growing demand in the solar panel installation would require a proper system that would provide energy efficiency. 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.

Prominent 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).

Smart Solar Industry Segmentation

Global smart solar market has been segmented based on device, solution, service, application, and end-user.

On the basis of solution, asset management sub-segment is expected to be the largest sub-segment within the smart solar market. This largest market size of this sub-segment is due to the technological advancement 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 rollouts of smart meters and smart grids.

Regional Outlook

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 report provides an in-depth analysis of the global smart solar market, tracking three market segments across five geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, and share for North America, Asia-Pacific (APAC), Europe, Middle East & Africa, and South America. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the Smart Solar Market by its device, solution, service, application, end-use, and region.

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Table Of Contents

1. Executive Summary

2. Market Introduction

2.1. Market Definition

2.2. Scope Of The Study

2.3. Market Structure

3. Research Methodology

3.1. Primary Research

3.2. Secondary Research

3.3. Market Size Estimation

3.4. Forecast Model

3.5. List Of Assumptions

4. Market Dynamics

4.1. Drivers

4.1.1. Increasing Adoption Of Green Energy And The Emergence Of Smart Cities

4.1.2. Regulatory Compliance

4.2. Restraints

4.2.1. High Initial Cost

4.3. Opportunities

4.3.1. Evolving Solar Industry

4.3.2. Increasing Environmental Awareness And Technological Evolution

4.4. Porter’s Five Forces Analysis

4.4.1. Threat Of New Entrants

4.4.2. Bargaining Power Of Buyers

4.4.3. Bargaining Power Of Suppliers

4.4.4. Threat Of Substitutes

4.4.5. Intensity Of Rivalry

4.5. Value Chain/Supply Chain Analysis

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