Global Smart Solar Market 2016-2020

  • Published: Aug 2016
  • Pages: 77
  • SKU: IRTNTR10053

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This market research report analyzes the key players in the smart solar market such as ABB, Echelon, GE Energy, Schneider Electric, and Siemens. The report also presents a competitive analysis of the market by product type (components and solutions) and by geography (the Americas, APAC, and EMEA).

Global outlook of the smart solar market

Technavio’s market research analysts have predicted that the global smart solar market will grow steadily during the forecast period and will post an impressive CAGR of more than 15% by 2020. With achieving an end-to-end solution to effectively manage energy being the primary aim of power utilities, the industry has started adopting various smart solar systems, such as smart solar meters for creating a smart grid system. Smart grids are monitoring systems that monitor and control energy production, transmission, and consumption. This will induce several countries across the globe to develop smart grid systems during the forecast period and will be one of the major factors to have a positive impact on the growth of the market.

The growing demand for electricity and the increasing environmental concern will result in the rise in demand for renewable energy sources, and this will subsequently lead to the decline in prices of solar photovoltaic cells. The recent years have witnessed a 40% decrease in the prices and the increasing government subsidies toward the installation of solar energy products such as smart solar lights and solar water heaters, which will further lead to a decline in prices and will subsequently drive the growth of the smart solar market.

Competitive landscape and key vendors

The market is characterized by the presence of well diversified international solar energy companies who have a large portfolio of energy-related equipment and services in smart grid, home energy management systems, digital oil fields, and smart solar. Vendors also provide customized products as per the needs of the customers. The market appears to be moderately competitive, and the vendors usually compete on the basis of product pricing, quality, and market presence. The rise in product extensions and technological innovations have induced large solar companies in the market to invest in their R&D to develop smart energy equipment and services.

The leading vendors in the market are -

  • ABB
  • Echelon
  • GE Energy
  • Schneider Electric
  • Siemens

The 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.

Segmentation by product type and analysis of the smart solar market

  • Components
  • Solutions

During 2015, the solutions segment accounted for about 60% of the total market share and dominated the industry. Solar generation is primarily supported by an SCADA system that can be driven from a remote terminal unit (RTU) or a programmable logic controller (PLC). The advances in demand response and automation techniques will fuel the growth of the market in this segment.

Geographical segmentation and analysis of the smart solar market

  • Americas
  • APAC
  • EMEA

This market study estimates that in terms of geography, the Americas will dominate the smart energy market throughout the forecast period and will also account for about 40% of the total market share by 2020. Factors such as the rise in investments, the increase in solar capacity, and the growth in a number of solar power installations will aid in the growth of the market in this region. Also, the growing number of smart solar projects, the development and deployment of the integrated smart grid systems, and increasing grants and solar subsidies from the governments will also provide for the growth in demand for the market.

Key questions answered in the report include

  • What will the market size and the growth rate be in 2020?
  • What are the key factors driving the global smart solar market?
  • What are the key market trends impacting the growth of the global smart solar market?
  • What are the challenges to market growth?
  • Who are the key vendors in the global smart solar market?
  • What are the market opportunities and threats faced by the vendors in the global smart solar market?
  • Trending factors influencing the market shares of the Americas, APAC, and EMEA.
  • What are the key outcomes of the five forces analysis of the global smart solar market?

Technavio also offers customization on reports based on specific client requirement.

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Table of Contents

PART 01: Executive summary

  • Highlights

PART 02: Scope of  the report

  • Market overview
  • Top-vendor offerings

PART 03: Market research methodology

  • Research methodology
  • Economic indicators

PART 04: Introduction

  • Key market highlights

PART 05: Market landscape

  • Market overview
  • Market size and forecast by revenue
  • Five forces analysis

PART 06: Market segmentation  by type

  • Global smart solar market by type 2015
  • Global smart solar market by type 2020
  • Global smart solar market by solutions
  • Global smart solar market by component

PART 07: Geographical segmentation

  • Global smart solar market by geography
  • Smart energy market in Americas
  • Smart solar market EMEA
  • Smart solar market in APAC

PART 08: Key leading countries

PART 09: Market drivers

  • Rise in solar energy consumption and installations
  • Support from governments worldwide for solar energy projects
  • Need for energy management
  • Growing environmental concern
  • Hike in investments made in smart grid technologies
  • Improvement in accuracy of billing

PART 10: Impact of drivers

PART 11: Market challenges

  • Long-term bankability of smart solar projects
  • Low conversion efficiency
  • High initial investment and maintenance costs
  • High cost of upgrading smart grids
  • High risk of cyber-attacks
  • Issues related to data management and device (meter) replacement

PART 12: Impact of drivers and challenges

PART 13: Market trends

  • Increasing demand for solutions and services
  • Reduction in solar PV cost
  • Rapid deployment of smart grids
  • Investments in smart energy market
  • Distributed energy resources and energy storage

PART 14: Vendor landscape

  • Competitive landscape
  • Other prominent vendors

PART 15: Key vendor analysis

  • ABB
  • Echelon
  • GE Power & Water
  • Schneider Electric
  • Siemens

PART 16: Appendix

  • List of abbreviations

PART 17: Explore Technavio

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.


Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases


Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts



  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis


  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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