The smart solar power market is in its nascent stage, as there is a high demand for energy management solutions and monitoring devices across various industry verticals. The report showcases the various services & solutions provided by the technology. Mechanized meters, monitoring platforms and usage in analytics & IT are the key drivers of the smart solar power market. Companies operating in this intensely competitive market are adopting product launch as a developmental strategy to gain competitive edge. Companies such as HCL and GE Energy are introducing novel products such as smart solar mobile phones, protronix power boxes etc.
MARKET SCOPE
The "Global Smart solar power Market Analysis to 2028" is a specialized and in-depth study of the Smart solar power market with a special focus on the global market trend analysis. The report aims to provide an overview of Smart solar power market with detailed market segmentation by component, end-user, and geography. The global Smart solar power market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading Smart solar power market players and offers key trends and opportunities in the Smart solar power market.
MARKET SEGMENTATION
- ?The global smart solar power market is segmented on the basis of component, and end-user.?On the basis of technology, the market is divided into automation, metering, communication, and intelligrid. ?On the basis of end-user the market is segmented into utility, government and public affairs, education, and healthcare.
Drivers
- ?Growing Installation of Solar Energy Grids to Propel Market Growth?High Demand for Smart Solar Technology to Drive Market Growth.
- ?Land Use Constraint & High Operational & Maintenance Cost to Hinder Market Growth.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The smart solar power market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the smart solar power market in these regions.
IMPACT OF COVID-19 ON SMART SOLAR POWER MARKET
COVID-19 had an immediate impact on the worldwide smart solar power sector due to social distancing norms and a labour shortage. As a result, new projects were cancelled and installations were postponed.
Furthermore, the substantial drop in consumer spending had a significant impact on demand. Consumer spending during the lockout had a significant impact on the smart solar power sector, which included a variety of solar storage devices. Furthermore, due to movement restrictions, the upstream and downstream channels have been impacted, resulting in an increase in inventories. Furthermore, the market was harmed by a strong reliance on Chinese solar cell, smart solar power, and solar module exports. Around 80% of India's solar products are imported from China. Because China's manufacturing enterprises have been idle for the past 6-7 years.
MARKET PLAYERS
The report covers key developments in the smart solar power market organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from smart solar powermarket market are anticipated to lucrative growth opportunities in the future with the rising demand for smart solar power market in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the Smart solar power market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- ?ABB ?Itron Inc. ?Aeris ?Solnet Group ?Solar Data Systems, Inc. ?Aclara Technologies LLC ?General Electric ?Huawei Technologies Co., Ltd ?Siemens ?Landis+Gyr