Published on : Sep 20, 2016
ALBANY, New York, September 20, 2016: A new market report on the global smart solar power industry has been recently added to the vast repository of ResearchMoz.us. The research study is titled, “Global Smart Solar Power Industry 2016, Trends and Forecast Report.” It offers a comprehensive evaluation of the market, presenting insights into its past performance, present status, and future growth prospects. As per this research study, the emergence of smart cities and the growing adoption of green energy are expected to fuel the growth of global smart solar power industry. The global smart solar power industry is thus, expected to witness a remarkable growth in the coming years.
The report compiles drivers, trends, restraints, opportunities, and the competitive landscape of the global smart solar power industry. It provides information regarding the diverse government and environmental regulations that is expected to impact the industry in the coming years. The study discusses key segments and also offers a logical reasoning behind the leading or declining segment of the global smart solar power industry.
Growing need for energy management, improvement in accuracy of billing, and rising environmental concerns are expected to drive the demand for smart solar power in the coming years. As governments have been taking initiatives to encourage developments in smart solar power systems, projects designed for the development of smart lighting systems making use of solar power, will gain impetus. This is likely to augment the adoption of smart solar power systems, thus driving the market. Additionally, rising environmental concerns and reduction in energy bills are expected to boost the demand in the coming years.
The global smart solar power industry faces challenges such as high cost of upgradation, low conversion efficiency, and increasing risk of cyber-attacks. Additionally, concerns related to data management, device replacement, and high initial investment and maintenance costs are likely to restrict the growth of the market in the coming years. However, increasing investments in the smart solar power industry, are expected to act as an opportunity and help the market to grow. Emerging economies are encouraging the concept of smart cities with the swift deployment of smart grids. Thus, emerging nations are expected to create an opportunity for key players in the global smart solar power industry.
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The global smart solar power industry is characterized by the existence of well-diversified international companies. The market is moderately competitive in nature, with players competing over quality and market presence. Key players in the market are focusing on offering customized products as per the requirements of the customers. Some of the players in the smart solar power industry are Vivint Solar, Itron, Solarcity, Sensus USA, GE Energy, Schneider Electric, Silver Spring Networks, Echelon, and Siemens.
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