The latest research study “Solar Digitalization Platform Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global solar digitalization platform market size is expected to exhibit a CAGR of 11.70% during 2022-2027.
A solar digitalization platform represents a framework that enables the use of digital solutions and energy system integration across various energy carriers, infrastructures, and consumption sectors to manage as well as optimize the entire solar asset lifecycle. Furthermore, it usually eliminates data silos and provides improved asset performance by helping the engineering, procurement, development, construction, and quality assurance on one asset-centric platform. In addition to this, a solar digitalization platform enables improvement of service delivery, acceleration of electrification timeframes, reduction of electricity costs, better redistribution of social benefits, etc.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Solar Digitalization Platform Market Trends and Drivers:
The growing penetration of advanced digital solutions in the energy and utility sector is primarily driving the solar digitalization platform market. Additionally, the escalating demand for clean and renewable energy sources, on account of the increasing focus on the decarbonization of the energy industry, and the widespread adoption of data analytics-based platforms that aid in the early quantification and prioritization of projects, are also catalyzing the market growth. Besides this, the rising integration of machine learning (ML) with solar digitalization platforms for enhancing production forecasts and serving grid stability requirements is acting as another significant growth-inducing factor. Moreover, the inflating popularity of smart metering systems for removing inefficiencies, establishing better communication, improving productivity, etc., is positively influencing the global market. Apart from this, the introduction of 5G networking which implements network slicing for smart grids to meet numerous services needs with better coverage, is anticipated to fuel the solar digitalization platform market over the forecasted period.
Solar Digitalization Platform Market 2022-2027 Analysis and Segmentation:
The report has segmented the market on the basis of type, end-use.
Breakup by Type:
- Hardware
- Sensors
- Smart Meters
- Robots and Drones
- Others
- Solution
- Asset Management
- Data Analytics
- Digital Twin and Predictive Maintenance
- Cloud Computing
- Automated Billing
- Remote Monitoring
- Others
- Services
- Installation
- Repairs and Maintenance
- Others
Breakup by Grid Type:
- On-grid
- Off-grid
Breakup by End Use:
- Institutional
- Commercial and Industrial
- Residential
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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