Smart Solar Sector: Growth Drivers and Challenges
Growth Drivers
- Increasing Adoption of Green Energy
- Growing Emergence of Smart Cities in Developing Countries
Challenges
- High Cost of Installing Smart Solar Systems
Smart Solar Market: Key Insights
|
Base Year |
2024 |
|
Forecast Year |
2025-2037 |
|
CAGR |
15.9% |
|
Base Year Market Size (2024) |
USD 20.82 billion |
|
Forecast Year Market Size (2037) |
USD 141.76 billion |
|
Regional Scope |
|
Browse key industry insights with market data tables & charts from the report:
Frequently Asked Questions (FAQ)
In the year 2025, the industry size of smart solar is estimated at USD 23.63 billion.
Smart Solar Market size was over USD 20.82 billion in 2024 and is anticipated to cross USD 141.76 billion by 2037, growing at more than 15.9% CAGR during the forecast period i.e., between 2025-2037.
Asia Pacific industry is poised to dominate majority revenue share by 2037, propelled by increasing number of smart city initiatives, growing support of government to use solar energy and rising electricity tariffs in the region.
The major players in the market are ABB Ltd., General Electric Company, Itron Inc., Echelon Corporation, Schneider Electric, Siemens AG, and others.
