Global Smart Solar Power Market is valued at approximately USD 15.22 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 13.60% over the forecast period 2023-2030. Smart Solar Power refers to the incorporation of sophisticated systems and cutting-edge technology into the production of solar energy to maximize effectiveness, enhance performance, and offer improved control and monitoring capabilities. The factor that drives the growth of the market is the increase in investment in the smart energy market as it leads to research and development activities and it also leads to infrastructure development which anticipates the growth of the market. As per the press release by International Energy Agency in June 2022, the energy investment globally is expected to increase by 8% in 2022 which is anticipated to increase the demand of the market. The other driving factor for the market is the reduction in the costs of Solar PV which tends to increase the demand of the market because of less cost and more demand. However, the high initial investment in smart solar power systems act as a restraint to the market.
The opportunity factor for the market is IoT and smart home integration as they present opportunities for improved monitoring, control, and optimization. The adoption of smart solar power is accelerated by the integration of solar power generation with other smart home systems and appliances. This provides seamless energy management, demand response, and energy efficiency. As per Statista, between 2023 and 2027, it is projected to be around 311.9 million more homes worldwide participating in the smart home market, an increase of 86.47 percent. The other opportunity for the market is the scope for collaborations and partnerships as collaboration among solar power suppliers, tech companies, and energy management businesses may spur innovation and market growth.
The key regions considered for the Global Smart Solar Power Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the reasons such as the technological advancements in the region with favorable government policies and it has a large market size. Asia Pacific is expected to grow significantly during the forecast period, owing to factors such as increasing demand for renewable energy and the region having abundant solar resources.
Major market player included in this report are:
- Schneider Electric SE
- GENERAL ELECTRIC COMPANY
- Itron Inc.
- Siemens AG
- ABB Ltd
- Sensus USA Inc
- Echelon Corporation
- Calico Life Sciences LLC
- Huawei Technologies Co. Ltd
- HCL Technologies Ltd
Recent Developments in the Market:
- In September 2022, A supplier of solar energy supplies called Renogy unveiled REGO, which is the first fully integrated smart solar power system for off-grid habitation. The REGO Series solutions are a true plug-and-play power system where all components function together effortlessly, saving customers time and worry. They are specifically intended for novices, do-it-yourselfers, and experienced solar users.
- In January 2023, To achieve the Project Zero goal and lessen the negative impact of using fossil fuels, Lonestar Cell Mobile Telecommunications Network announced the construction of smart solar-hybrid generators at significant locations around the country. In an effort to reduce carbon emissions and promote corporate sustainability, the corporation started Project Zero to help Liberia combat climate change.
Global Smart Solar Power Battery Market Report Scope:
- Historical Data: 2020 - 2021
- Base Year for Estimation: 2022
- Forecast period: 2023-2030
- Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
- Segments Covered: Device, Solution, Application, Region
- Regional Scope: North America; Europe; Asia Pacific; Latin America; Middle East & Africa
- Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
- The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below.
By Device:
- Smart Solar Meters
- IntelliGrid
- RFID
By Solution:
- Asset Management
- Network Monitoring
- Meter Data Management
- Analytics
- SCADA
- Remote Metering
- Outage Management
By Application:
- Commercial
- Industrial
- Residential
By Region:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Table of Contents
Chapter 1. Executive Summary
- 1.1. Market Snapshot
- 1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
- 1.2.1. Smart Solar Power Market, by Region, 2020-2030 (USD Billion)
- 1.2.2. Smart Solar Power Market, by Device, 2020-2030 (USD Billion)
- 1.2.3. Smart Solar Power Market, by Solution, 2020-2030 (USD Billion)
- 1.2.4. Smart Solar Power Market, by Application, 2020-2030 (USD Billion)
- 1.3. Key Trends
- 1.4. Estimation Methodology
- 1.5. Research Assumption
Chapter 2. Global Smart Solar Power Market Definition and Scope
- 2.1. Objective of the Study
- 2.2. Market Definition & Scope
- 2.2.1. Industry Evolution
- 2.2.2. Scope of the Study
- 2.3. Years Considered for the Study
- 2.4. Currency Conversion Rates
Chapter 3. Global Smart Solar Power Market Dynamics
- 3.1. Smart Solar Power Market Impact Analysis (2020-2030)
- 3.1.1. Market Drivers
- 3.1.1.1. Increase in investment in the smart energy
- 3.1.1.2. Reduction in costs of Solar PV
- 3.1.2. Market Challenges
- 3.1.2.1. High initial investment of smart solar power system
- 3.1.3. Market Opportunities
- 3.1.3.1. IoT and Smart Home integration with smart solar power
- 3.1.3.2. Scope for collaborations and partnerships
Chapter 4. Global Smart Solar Power Market Solution Analysis
- 4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.2. Porter's 5 Force Impact Analysis
- 4.3. PEST Analysis
- 4.3.1. Political
- 4.3.2. Economical
- 4.3.3. Social
- 4.3.4. Technological
- 4.3.5. Environmental
- 4.3.6. Legal
- 4.4. Top investment opportunity
- 4.5. Top winning strategies
- 4.6. COVID-19 Impact Analysis
- 4.7. Disruptive Trends
- 4.8. Solution Expert Perspective
- 4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Smart Solar Power Market, by Device
- 5.1. Market Snapshot
- 5.2. Global Smart Solar Power Market by Device, Performance - Potential Analysis
- 5.3. Global Smart Solar Power Market Estimates & Forecasts by Device 2020-2030 (USD Billion)
- 5.4. Smart Solar Power Market, Sub Segment Analysis
- 5.4.1. Smart Solar Meters
- 5.4.2. IntelliGrid
- 5.4.3. RFID
Chapter 6. Global Smart Solar Power Market, by Solution
- 6.1. Market Snapshot
- 6.2. Global Smart Solar Power Market by Solution, Performance - Potential Analysis
- 6.3. Global Smart Solar Power Market Estimates & Forecasts by Solution 2020-2030 (USD Billion)
- 6.4. Smart Solar Power Market, Sub Segment Analysis
- 6.4.1. Asset Management
- 6.4.2. Network Monitoring
- 6.4.3. Meter Data Management
- 6.4.4. Analytics
- 6.4.5. SCADA
- 6.4.6. Remote Metering
- 6.4.7. Outrage Management
Chapter 7. Global Smart Solar Power Market, by Application
- 7.1. Market Snapshot
- 7.2. Global Smart Solar Power Market by Application, Performance - Potential Analysis
- 7.3. Global Smart Solar Power Market Estimates & Forecasts by Application 2020-2030 (USD Billion)
- 7.4. Smart Solar Power Market, Sub Segment Analysis
- 7.4.1. Commercial
- 7.4.2. Industrial
- 7.4.3. Residential
Chapter 8. Global Smart Solar Power Market, Regional Analysis
- 8.1. Top Leading Countries
- 8.2. Top Emerging Countries
- 8.3. Smart Solar Power Market, Regional Market Snapshot
- 8.4. North America Smart Solar Power Market
- 8.4.1. U.S. Smart Solar Power Market
- 8.4.1.1. Device breakdown estimates & forecasts, 2020-2030
- 8.4.1.2. Solution breakdown estimates & forecasts, 2020-2030
- 8.4.1.3. Application breakdown estimates & forecasts, 2020-2030
- 8.4.2. Canada Smart Solar Power Market
- 8.5. Europe Smart Solar Power Market Snapshot
- 8.5.1. U.K. Smart Solar Power Market
- 8.5.2. Germany Smart Solar Power Market
- 8.5.3. France Smart Solar Power Market
- 8.5.4. Spain Smart Solar Power Market
- 8.5.5. Italy Smart Solar Power Market
- 8.5.6. Rest of Europe Smart Solar Power Market
- 8.6. Asia-Pacific Smart Solar Power Market Snapshot
- 8.6.1. China Smart Solar Power Market
- 8.6.2. India Smart Solar Power Market
- 8.6.3. Japan Smart Solar Power Market
- 8.6.4. Australia Smart Solar Power Market
- 8.6.5. South Korea Smart Solar Power Market
- 8.6.6. Rest of Asia Pacific Smart Solar Power Market
- 8.7. Latin America Smart Solar Power Market Snapshot
- 8.7.1. Brazil Smart Solar Power Market
- 8.7.2. Mexico Smart Solar Power Market
- 8.8. Middle East & Africa Smart Solar Power Market
- 8.8.1. Saudi Arabia Smart Solar Power Market
- 8.8.2. South Africa Smart Solar Power Market
- 8.8.3. Rest of Middle East & Africa Smart Solar Power Market
Chapter 9. Competitive Intelligence
- 9.1. Key Company SWOT Analysis
- 9.1.1. Company 1
- 9.1.2. Company 2
- 9.1.3. Company 3
- 9.2. Top Market Strategies
- 9.3. Company Profiles
- 9.3.1. Schneider Electric SE
- 9.3.1.1. Key Information
- 9.3.1.2. Overview
- 9.3.1.3. Financial (Subject to Data Availability)
- 9.3.1.4. Product Summary
- 9.3.1.5. Recent Developments
- 9.3.2. General Electric Company
- 9.3.3. Itron Inc.
- 9.3.4. Seimens AG
- 9.3.5. ABB Ltd
- 9.3.6. Sensus USA Inc
- 9.3.7. Echelon Corporation
- 9.3.8. Calico Life Sciences LLC
- 9.3.9. Huawei technologies Co. Ltd
- 9.3.10. HCL Technologies Ltd.
Chapter 10. Research Process
- 10.1. Research Process
- 10.1.1. Data Mining
- 10.1.2. Analysis
- 10.1.3. Market Estimation
- 10.1.4. Validation
- 10.1.5. Publishing
- 10.2. Research Attributes
- 10.3. Research Assumption