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Global Smart Solar Power Market to reach USD 42.21 billion by the end of 2030.

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

Product Code: EPPGS-72750391
Publish Date: 10-06-2023
Page: 200

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
Itron Inc.
Siemens AG
Sensus USA Inc
Echelon Corporation
Calico Life Sciences LLC
Huawei Technologies Co. Ltd
HCL Technologies Ltd
Recent Developments in the Market:
Ø 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.
Ø 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:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Device, Solution, Application, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü 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

By Solution:
Asset Management
Network Monitoring
Meter Data Management
Remote Metering
Outage Management

By Application:

By Region:

North America


Asia Pacific
South Korea

Latin America

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

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 Increase in investment in the smart energy Reduction in costs of Solar PV
3.1.2. Market Challenges High initial investment of smart solar power system
3.1.3. Market Opportunities IoT and Smart Home integration with smart solar power 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 Device breakdown estimates & forecasts, 2020-2030 Solution breakdown estimates & forecasts, 2020-2030 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 Key Information Overview Financial (Subject to Data Availability) Product Summary 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

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
After conducting the research, our experts analyze the findings in relation to the research objectives and the specific needs of the client. They generate valuable insights and recommendations that directly address the client’s business challenges. These insights are carefully connected to the research findings to provide a comprehensive understanding.
Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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