In a recent published report, Global Smart Solar Solutions Market report for till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Global Smart Solar Solutions Market products.
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Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further projected to touch USD 6 million by 2023.
The requirement of solar power in the recent times is due to the depleting non-renewable resources. The more usage of depleting resources has led to a scare situation and the consumers at panicky situation across the world. With many countries working towards utilizing renewable resources, the need for development in the segment has increased. For controlling and forecasting the consumption of the energy, there is a requirement of managing the solutions in the global market. New innovations are taking place in the global solar market and new smart solutions are making their way into the market to provide cleaner and greener energy to its consumers. Smart solutions are the improved version to the conventional solar systems. The growth of the global smart solar solutions market is expected to scale 15.9% cumulative annual growth rate (CAGR) with an estimated value to USD 14 billion by 2021 from USD 8.14 billion in 2016.
Market Segment and Share
The Global Smart Solar Solutions Market is expected to hit 15.9% CAGR in the period 2017 to 2021. The present market share of smart solar solutions is about 4% in the solar solutions segment but is expected to increase to 58% till 2021. The segmentation of smart solar solution market is done on the basis of the following:
Devices: Smart Solar Meters, Intelligent Grids, etc.
Solutions: Analytics, SCADA, Network Monitoring, etc.
Service: Consulting, Support, Maintenance, etc.
Application: Residential, Commercial and industrial
Industry Sectors: Government, Healthcare, Construction, Education, Agriculture, etc.
Region: North America, Europe, Asia-Pacific, Middle East and Africa and Latin America
The driving factors of Global Smart Solar Solutions Market are rising power prices, rising power demands, depleting non-renewable resources, growing environmental concerns, requirement of cleaner and greener fuel.
Major Players in the Market
Major players in the global smart solar solutions market are ABB Solar Solutions, GE Renewable Energy, SunEdison, Schneider Electric, Echelon, BBOXXX, etc.
Report ContentsRegional AnalysisReport Highlights
Market Drivers, Restraints and Opportunities
Market Size & Forecast 2016 to 2022
Supply & Demand Value Chain
Market – Current Trends
Competition & Major Companies
Technology and R&D Status
Porters Five Force Analysis
Strategic and Critical Success Factor Analysis of Key Players
US and Canada
Mexico, Brazil, Argentina and Rest of Latin America
EU5 (Germany, France, Italy, Spain, U.K.)
Nordic Countries (Denmark, Finland, Norway, and Sweden)
Benelux (Belgium, The Netherlands, and Luxembourg)
Rest of Western Europe
Rest of Eastern Europe
Australia and New Zealand
Rest of Asia Pacific
Middle East and Africa
GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
Rest of Middle East and Africa
This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides details on market segmentation which is derived from several product mapping exercises, macroeconomic parameters and other qualitative and quantitative insights. The impact of all such factors is delivered across multiple market segments and geographies.
Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
Consumer and Pricing Analysis
Market dynamics of the industry
Estimated Market Sizing in terms of volume and value
Recent trends in Market and impact
Research Status and Technology Overview
Extensive Industry Structure Coverage
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