Smart Solar Market Size to Reach $13.33 Billion by 2027 | Merger and acquisition by ABB and Aeris to create promising growth opportunities in the solar industry


Fortune Business Insights

Smart Solar Market exhibits 9.95% CAGR by 2027; Global Adoption of Paris Climate Agreement Growing to Boost Demand: Fortune Business Insights™

Pune, India, September 20, 2022 (GLOBE NEWSWIRE) — Smart Solar Market Size is expected to grow from USD 8.52 billion in 2019 to USD 13.33 billion in 2027, with a compound annual growth rate of 9.95%. This market growth is attributed to factors such as the increasing adoption of the Paris Climate Change Agreement by several countries worldwide and the high demand for advanced smart solar systems in the coming years. This comprehensive information is published in the latest report titled “Smart Solar Market Size, Share and COVID-19 Impact and Regional Forecast, 2020-2027” from Fortune Business Insights.

List of companies operating in the global Smart Solar market:

  • ABB (Switzerland)

  • Itron Inc. (US)

  • Aeris (US)

  • Solnet Group (Netherlands)

  • Solar Data Systems, Inc. (US)

  • Aclara Technologies LLC (US)

  • General Electric (US)

  • Huawei Technologies Co., Ltd (China)

  • Siemens (Germany)

  • Landis+Gyr (Switzerland)

  • Schneider Electric (France)

  • HCL technologies (India)

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Report size and segmentation:

Reporting coverage


Forecast Period


Forecast period 2020 TO 2027 CAGR


2027 Value projection

USD 13.33 billion

Base year


Market size in 2019

USD 8.52 billion

Historical data for


Number of pages


Segments covered

Service, Device, Application, Region

Growth factors

Growing installation of solar energy grids to drive market growth

Strong demand for smart solar technology to drive market growth

COVID-19 Effects:

COVID-19 Impact: disruption in supply chain storage of large solar installation project

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The lockdown imposed by government agencies worldwide has drastically disrupted the supply chain of several industries. Among them, the global smart solar market has suffered significantly due to the cessation of several major solar installation projects around the world. However, an effective decision by the government, along with the cooperation of several companies, is expected to boost renewable energy activities by adhering to social distancing standards for the foreseeable future.

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Smart solar systems are modules integrated with DC power optimizer and help maximize the energy levels over solar panels. Due to their various advantages such as cost reduction, efficient monitoring and reliable communication, advanced solar energy is being adopted by various economies worldwide.

Highlights of the report:

The market report contains a detailed assessment of various growth drivers and restraints, opportunities and challenges that the market will face over the projected horizon. In addition, the report provides comprehensive research on the regional developments of the market, influencing its growth during the forecast period. It contains information derived from the advice of expert industry professionals by our research analysts using a variety of methodologies.

The competitive landscape provides more detailed insights into strategies such as product launches, partnerships, mergers and acquisitions, and collaborations adopted by the companies to maintain the market strongholds between 2020 and 2027.

Market factors:

Increasing adoption of the Paris climate change agreement to boost growth

In 2015, the Paris Climate Change Agreement was signed in which several countries worked together to fight climate change. It was intended to amplify the response to climate change worldwide by ensuring that the global temperature will be below 2 degrees Celsius as at the pre-industrial level. The increasing adoption of the agreement by several countries to address the impacts of climate change is expected to boost the demand for smart solar energy around the world. In addition, the growing focus on installing smart solar grids will drive the global growth of the solar smart market during the forecast period.

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Regional insights:

North America remains dominant; Raising Advanced Solar Projects to Drive Growth

All regions are expected to continue to dominate in the coming years, occupying the top position in the global smart solar market. This dominance is due to the increasing number of advanced smart solar projects in the region. North America stood at $2.70 billion in 2019.

The Asia-Pacific market is expected to experience exponential growth, supported by the growing number of smart city projects in the region between 2020 and 2027.

Competitive landscape:

Large companies focus on acquisition to strengthen their market positions

The global smart solar market includes small, medium and large companies striving to maintain their presence. In addition, the large companies are focusing on acquiring smaller companies to expand their portfolio of smart solar systems and improve their prospects in the fiercely competitive global market.

Industry development:

  • January 2018 – Intron, Inc., a leading consulting firm, has announced the acquisition of Silver Spring Networks, Inc. According to the company, the acquisition is aimed at strengthening its global position to deliver cutting-edge technology solutions and further enhance the companies’ operations.

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Smart Solar Market Segmentation:

By service

  • Asset management

  • Network monitoring

  • Meter Data Management

  • Remote measurement

  • others

By device

On request

  • residential

  • Commercial and Industrial

  • Utilities

Per region

  • North America (by service, device, application, and country)

  • Europe (by service, device, application and country)

  • Asia Pacific (by service, device, application, and country)

  • Middle East and Africa (by service, device, application, and country)

  • Latin America (by service, device, application and country)


1 Introduction

1.1. Research scope

1.2. Market share

1.3. research method

1.4. Definitions and Assumptions

2. Summary

3. Market Dynamics

3.1. Market factors

3.2. Market Restrictions

3.3. Market opportunities

4. Key insights

4.1. Key Industry Developments – Mergers, Acquisitions & Partnerships

4.2. Porter’s Five Forces Analysis

4.3. SWOT analysis

4.4. Technical developments

4.5. Value Chain Analysis

4.6. Impact of COVID-19 on the Industrial Waste Management Market

5. Global Industrial Waste Management Market Analysis, Insights and Forecast, 2017-2028

5.1. Key findings / summary


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