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Smart Solar Market Forecast to Grow at 18.7% CAGR to Reach $15.34 Billion by 2018

Jan 6 2014

Research and Markets has announced the addition of the "2013 Report on the International Smart Solar Market - Market Forecasts and Analysis to 2018" report to their offering.

"2013 Report on the International Smart Solar Market - Market Forecasts and Analysis to 2018", focuses on the business and economies of the industry and analyzes the technology and market sectors in a way that adds value to the market. Solutions and components are the key areas which contribute to the growth of this market. Components inefficiency is one of the key challenges of the entire industry. Technology will help to get rid of this challenge. High growth is expected in this market which will raise the opportunity for the various players associated to the solar industry. The smart solar market involves solutions such as analytic, integration and platform monitoring. Solutions market will grow, as the demand for more sophisticated solutions will increase in the future.

This research expects the smart solar market to grow from $6.51 billion in 2013 to $15.34 billion by 2018, at an estimated CAGR of 18.7% from 2013 to 2018. There are many potential applications that can be derived from this market but there is a need for its penetration in some verticals. Other than utility, it has applications within government and public affairs, healthcare, education, construction and agro-industry. Advancement in the smart solar components and solutions will drive this smart solar market. Manufacturing industry, logistics and distribution, are the other verticals which have scope for improvement. Innovation in the smart solar market is widening across the verticals.