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Key Findings
By the end of the forecast period of 2018-2026, the global smart solar market is expected to showcase a CAGR of 16.45%. The market is mainly being driven by factors such as the global increase in solar energy utilization, expensive electricity tariffs and the growing adoption of green & smart cities concept.
Market Insights
The global smart solar market is segmented on the basis of applications, industrial sectors, services, device types, and solutions. Commercial, industrial and domestic applications are gaining ground in the global smart solar market. The industrial sector is divided into utilities, government, construction, agriculture, healthcare, education and others. The services segment includes system integration and deployment services, support and maintenance services, consulting services and demand response services. The device types are classified into intelligrid, smart solar meters and RFID while the smart solar solutions are segmented into supervisory control and data acquisition, network monitoring, analytics, remote metering, meter data management, asset management and outage management.
Regional Insights
The global smart solar market is spread over North America, Europe, Asia-Pacific and rest of the world. Of all these regions, the North American market dominates the global scene. The presence of established market companies and the increasing use of solar energy in the North American region are factors contributing to this market's growth. Another promising market is the Asia-Pacific market which is mainly growing due to the favourable government initiatives undertaken for the adoption of smart solar technology.
Competitive Insights
The leading market companies in the smart solar market are ABB, Echelon,First Solar, Ge Power,Itron Inc, Landis+Gyr Ag (Acquired By Toshiba), Schneider Electric, Sensus Usa, Inc. (Acquired By Xylem Inc.), Siemens, Silver Spring Networks Inc, SolarCity (Tesla Motors, Inc), Sunpower, Sunnova, Urban Green Energy (Uge) International, and Vivint Solar.