Global Smart Solar Market Overview:
The energy crisis concerns has created better responsiveness amongst the users to use the non-renewable energy sources efficiently. It has resulted in people to use renewable energy sources such as solar energy. Smart solar devices are the equipment that offers better efficiency in solar energy extraction. Due to Government Initiatives to discover multiple sources of energy consumers have started getting aware of the smart solar systems gradually. According to AMA, the Global Smart Solar market is expected to see growth rate of 16.32%
- Augmented Green Energy Demand in Recent Years
- Increasing electricity Tariffs
- Emerging Smart City Project across the Globe
- Up Surging Technological Innovations in the Solar Energy Infrastructure Development
- Higher Initial Investments and Maintenance Cost
- Product Inefficiency
- Increasing Consumer Awareness about Solar Energy Sources
- Favorable Government Regulations
- Minimum Return on Investment (ROI)
- Lack of Awareness in Underdeveloped Regions
Some of the key players profiled in the report are ABB (Switzerland), Itron (United States), Landis+GYR (Switzerland), Echelon Corporation (United States), Sunnova Energy Corp. (United States), Siemens (Germany), Schneider Electric (France), Silver Spring Networks (United States), Sensus USA Inc. (United States) and UGE (Urban Green Energy) International (United States). The Manufacturers having a strong hold in the market are ABB, Sunnova Energy Corp., Schneider Electric, Siemens. Additionally, following companies can also be profiled that are part of our coverage like Solar City (United States), GE Energy Infrastructure (United States) and Vivint Solar (United States). Analyst at AdvanceMarketAnalytics see United States and European Manufacturers to retain maximum share of Global Smart Solar market by 2024. Considering Market by Service, the sub-segment i.e. System Integration and Deployment will boost the Smart Solar market. Considering Market by Solution, the sub-segment i.e. Network Monitoring will boost the Smart Solar market. Considering Market by End User, the sub-segment i.e. Government Offices and Educational Institutions will boost the Smart Solar market.
On 02 July 2018, ABB has announced that it has completed its acquisition of GE Industrial Solutions (GEIS), GE’s global electrification solutions business on June 30, 2018. The 2.6 USD billion transaction was announced on September 25, 2017, and is expected to be accretive to operational EPS in the first year.
International Trade Commission (ITC) have imported solar panels that was harming domestic manufacturing thus, the United States’ President Donald Trump has approved tariffs on solar cells and their respective modules. The imposition of Tariffs led to cancel and postponed more than 2.5 Billion USD Solar installation Projects.
Available Customization: Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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Research Methodology:The top-down and bottom-up approaches are used to estimate and validate the size of the Global Smart Solar market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Smart Solar market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Smart Solar companies, Smart Solar Distributors and Traders, Energy Service Companies (ESCOs), Commercial & Industrial (C&I) Customers, Residential Customers, Metering Operators, Regulatory Bodies and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.