Global Automation Solution Market in Renewable Power Generation Industry Market 2023-2027

Global Automation Solution Market in Renewable Power Generation Industry 2023-2027

Technavio has been monitoring the automation solution market in renewable power generation industry and it is poised to grow by $3767.77 mn during 2023-2027, accelerating at a CAGR of 5.56% during the forecast period. Our report on the automation solution market in renewable power generation industry provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment. The market is driven by aggressive policies supporting the growth of renewable power, the declining cost of solar and wind power generation, and continuous growth of market activities in the renewable power industry.

Technavio's automation solution market in renewable power generation industry is segmented as below:

By End-user

• Solar energy
• Wind energy
• Others

By Application

• Asset management
• Process control
• Remote monitoring
• Others

By Geographical Landscape

• APAC
• North America
• Europe
• Middle East and Africa
• South America

This study identifies the inception of new business models as one of the prime reasons driving the automation solution market growth during the next few years. Also, renewable energy auctions gaining traction and increased adoption of analytics will lead to sizable demand in the market.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our report on the automation solution market in renewable power generation industry covers the following areas:

• Automation solution market sizing
• Automation solution market forecast
• Automation solution market analysis

Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading automation solution market vendors that include ABB Ltd., Beckhoff Automation GmbH and Co. KG, Bosch Rexroth AG, Delta Electronics Inc, Eaton Corp. Plc, Emerson Electric Co, Fuji Electric Co. Ltd., GE Grid Solutions, Hitachi Energy Ltd., Honeywell International Inc., Intel Corp., Mitsubishi Electric Corp., OMRON Corp., Pilz GmbH and Co. KG, Rockwell Automation Inc., Schneider Electric SE, Siemens AG, Tata Power Co. Ltd., Toshiba Corp., and Yokogawa Electric Corp.. Also, the automation solution market in renewable power generation industry analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.