Global Solar Farm Automation Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027
Global Solar Farm Automation Market Overview
"The Solar Farm Automation Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031."
This report is based on synthesis, analysis, and interpretation of various sources of information gathered regarding the target market. Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market.
In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in future.
A solar farm is a collection of photovoltaic solar panels, in which solar panels are set up in order to generate electricity. Photovoltaic solar panels used in solar farms are usually made of silicon. Recently, large utility-scale automated solar farms are available in the market that have the capacity to generate large amount of electricity that can power large number of commercial and residential infrastructures. It uses electrical grid to feed power just as fossil-fuel energy plants do.
Solar farms do not produce any kind of environmental pollution and is considered the most effective method for generation of electricity as compared to other traditional coal power plants that emits harmful gases.
Increasing investments by government in solar farms are major factor expected to drive growth of the global market over the forecast period. In addition, growing demand for a renewable energy from various industries across the globe is another factor further expected to drive growth of the target market. Furthermore, rising number of tie-ups or contracts to improve the use and adoption of solar power in various developing countries globally are other factors expected to support growth of this market in the near future.
However, high storage cost of solar energy is key factor expected to restrain growth of the target market over the forecast period.
Ongoing trend observed in the target market is increasing investment in solar projects by government in various countries.
Increasing investment in research and development activities to develop cost effective solution and technological advancements are expected to create lucrative opportunities for players operating in the target market in the near future.
The market in Asia Pacific is expected to register highest share in terms of revenue over the forecast period, owing to large presence of players operating in the target market and increasing demand for renewable and sustainable energy in various developing countries in the region. The market in North America is expected to register significant growth in terms of revenue over the forecast period, owing increasing adoption of new technology and growing automation processes in various industries in the region.
Global solar farm automation market segmentation:
Segmentation by product:
- Solar tracker
- Distributed control system (DCS)
- Supervisory control and data acquisition (SCADA)
- Programmable logic controller (PLC)
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- ABB Ltd.
- AllEarth Renewables, Inc.
- Emerson Electric Co.
- First Solar, Inc.
- Abengoa Solar Inc.
- Array Technologies, Inc.
- Arzon Solar, LLC.
- Energia Ercam SA
- Frontier Technology, Inc.
- GENERAL ELECTRIC
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