Press release
Top Emerging Trends Impacting the Global Smart Solar Market Through 2020
Smart Solar Market
Overview of the Global Smart Solar Market
Smart solar is the advanced version of the existing solar energy technology system. This technology provides enhanced integration, support, communication, distribution, monitoring, and planning capabilities in the energy delivery system. The introduction of such enhanced technologies in components and services has led to a rise in demand for smart solar systems.
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Evolving solar industry and increasing environmental awareness coupled with technological evolution open major opportunities
The market size for smart solar segment has considerably grown over the past few years on the account of evolving solar industry and the emergence of technologies such as MDM, SCADA, and remote metering have further augmented the opportunity areas for this market. The advancement in solar applications, platforms, and services coupled with the increasing integration of IoT with smart solar solutions has led to significant investment in smart solar projects globally. The increasing environmental awareness about the solar industry amongst the public will also act as an opportunity for the smart solar market. High initial investment, inadequate financial incentives for utilities and reduction of solar subsidies in many countries are the major restraints of the overall growth of this market.
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Covered in this report: The report covers the present scenario and the growth prospects of the global smart solar market for 2016-2020. In this report, 2015 is considered as the base year. It provides a comprehensive overview of the market along with segmentation by type - solutions and components.
The market is divided into the following segments based on geography:
• Americas
• APAC
• EMEA
Key questions answered in this report
• What will the market size be in 2020 and what will the growth rate be?
• What are the key market trends?
• What is driving this market?
• What are the challenges to market growth?
• Who are the key vendors in this market space?
• What are the market opportunities and threats faced by the key vendors?
• What are the strengths and weaknesses of the key vendors?
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Global smart solar market is segmented on the basis of smart solar services, smart solar application, smart solar solutions and smart solar components. Smart solar services segment include management services and consultation services related to smart solar. Major areas where smart solar applications find its use include solar farms, installation of solar panels in homes & industries, solar devices and solar vehicles. Smart solar solution segment is further sub segmented into use of supervisory control and data acquisition (SCADA) systems in energy monitoring, smart metering devices used in automated metering machines, manage energy production & consumption and forecast energy production & consumption. Smart solar components are further categorized in supervisory control and data acquisition (SCADA) systems, smart metering devices and radio frequency identification (RFID). Various sectors where the smart solar finds its application include namely transportation, agriculture, construction and health care. Smart solar technology applicable in various sector are expected to boost global smart solar market growth over the forecast period on account of increasing solar energy demand.
Key vendors
• ABB Ltd.
• Echelon Corp.
• GE Power & Water
• Schneider Electric SE
• Siemens AG
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