A new market research report by Transparency Market Research, titled “Smart Solar Market - Global Industry Analysis, Size, Share, Growth Trends and Forecast 2015 – 2023,” provides an in-depth understanding of the smart solar market. The market has been studied in terms of its present position, prime regions, future prospects, major products, and a number of other factors. Analysts have tapped into suitable sources in order to collect relevant data and study the market in detail. The strengths, weaknesses, threats, and opportunities of the smart solar market have been studied by the researchers and information has also been included from both external as well as internal sources for the collation of the report. The study also includes definitions, specifications, developments, and details pertaining to the top players operating in the market.
The report states that the increasing demand for energy along with the depletion of natural resources are amongst the prime factors fuelling the smart solar market in the forecast period of 2015 to 2023. Furthermore, a host of positive social factors, the increasing demand for electricity and the rising expenditure on electricity bills, and the surge in technology innovations in services, components, applications, and solutions will further augment the smart solar market in the forecast period. On the other hand, factors such as the absence of awareness amongst people and product instability may inhibit the growth of the market in forthcoming years.
The key components of smart solar systems are smart grids, smart metering devices, radio frequency identification (RFID), supervisory control and data acquisition (SCADA) systems, and others. As stated in the report, smart solar applications are used for cooling, heating, electricity, production steam, residential purposes, producing steam, and in numerous other industrial purposes. Sectors such as transportation, agriculture, healthcare, public utilities, construction, and various other sectors have also applied the smart solar systems technology. Smart solar technology has also been increasingly adopted in a number of new verticals including government and public affairs, utility, education, water treatment, distributions, and logistics.
In terms of geography, the market is divided into Europe, South and Central America, North America, Asia Pacific, and the Middle East and Africa. Amongst these, the regions of North America and Asia Pacific offer lucrative growth opportunities for the smart solar market. Spain, the U.S., Iran, China, India, and Egypt are amongst the prime nations contributing actively to the growth of the market.
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According to the report, the prominent players operating in the smart solar market include GE Energy, Silver Spring Networks, Aclara Software, Intergraph, Trilliant, INC, Schneider Electric, Landis Gyrag, HCL Technologies, Siemens, and INC.
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