Smart Solar Market Trends, Size, Analysis and Overview

Smart Solar Market Analysis, Share and Size, Emerging Trends,
Overview and Outlook, Growth And Segment Forecasts To 2020
Technavio Announces the Publication of its Research Report – Global Smart Solar Market 2016-2020
Technavio recognizes the following companies as the key players in the global smart solar market: ABB,
Echelon, GE Power & Water, Schneider Electric, and Siemens.
Other Prominent Vendors in the market are: Itron, Landis+GYR, Sensus USA, Silver Spring Networks,
Solarcity, Sunnova, Urban Green Energy (UGE) International, and Vivint Solar.
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Commenting on the report, an analyst from Technavio’ s team said: “One of the key trends for market
growth will be increasing demand for solutions and services. The recent trend in the smart solar industry
depicts the growth in demand for solutions and services due to advances in technology in components,
such as smart meters, solar simulators, and grid intelligent components, services and applications of the
smart solar. Thus most of the vendors are focusing on providing complete solutions for smart solar i.e.
from components to the services. Also, the rise in demand for energy necessitates the need of energy
management solutions and demands response services to be integrated with the installations. Now
solution services, such as accuracy of bill and record of consumption of energy, are in demand, which is
fueling the smart solar market. Another major factor will be intermittent nature of solar energy, which
requires such services to manage the solar energy better. Hence, the smart solar is an integrated
According to the report, growing environmental concerns will be a key driver for market growth. CO?
emission is a major global concern for countries and companies. The US energy-related CO? emission
was 5,406 MMT in 2014. Combustion of fossil fuels (coal, natural gas, and oil) for energy and
transportation, certain industrial processes, and land use changes are some of the human activities that
emit CO?. The primary source of CO? emission in the US are power, transportation, and industrial
sectors. If the world adopts the smart energy technologies (including smart solar) then CO? emissions
could be reduced by 15% globally. There are numerous ways of using smart solar technologies, such as
smart grids and meters, that will have a big impact on cutting carbon.
Further, the report states that high risk of cyber-attacks will be a challenge for the market. Advances in
IT and implementation of technology to control power generation and distribution have increased
chances of cyber-attacks. Smart solar grid infrastructure uses internet technologies; hence, data are
extremely vulnerable to security threats in the absence of a robust cyber security setup. Smart solar
grids are also vulnerable to virus attacks. Mishandling by engineers or operators can cause severe
damage to these grids. Traditionally, power utilities have not been exposed to such security issues;
hence they lack the experience or expertise to deal with such circumstances.
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 a SWOT analysis of the key vendors..
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About Smart Solar
Smart solar is the advanced version of the existing solar energy technology system. This technology
provides enhanced integration, support, communication, distribution, monitoring, and planning
capabilities in the energy delivery system. The introduction of such enhanced technologies in
components and services has led to a rise in demand for smart solar systems.
Technavio’ s analysts forecast the global smart solar market to grow at a CAGR of 15.22% during the
period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global smart solar market for
2016-2020. In this report, 2015 is considered as the base year. It provides a comprehensive overview of
the market along with segmentation by type - solutions and components.
The market is divided into the following segments based on geography:
Technavio's report, Global Smart Solar Market 2016-2020, has been prepared based on an in-depth
market analysis with inputs from industry experts. The report covers the market landscape and its
growth prospects over the coming years. The report also includes a discussion of the key vendors
operating in this market.
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Connect for more details:
Sam Collins
Market Reports Center
1-646-883-3044 (US)
[email protected]

According to the report, growing environmental concerns will be a key driver for market growth. CO? emission is a major global concern for countries and companies.