Global Smart Solar Power Market Size study & Forecast, by Device (Smart Solar Meters, IntelliGrid, RFID), by Solution (Asset Management, Network Monitoring, Meter Data Management, Analytics, SCADA, Remote Metering, Outage Management), by Application (Comm

Global Smart Solar Power Market Size study & Forecast, 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) and Regional Analysis, 2023-2030

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

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

Companies Mentioned
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

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