The Global Photovoltaic Software Market is estimated to exhibit a CAGR of 8.21% during the forecast period.
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Solar manufacturers may create projects that precisely match the client’s needs thanks to photovoltaic design and simulation software, enabling them to project detailed simulation data on the project’s operation. The majority of solar software includes financial feasibility modelling that allows producers and their customers to evaluate the projects’ financial advantages. With the rising demand for solar rooftop installations and the abundance of solar vendors on the market, suppliers are now forced to develop spontaneous financial models and proposals in order to satisfy customer needs. There is a growing need for sustainable energy resources, as well as benevolent government policies, due to the rising energy consumption caused by the increasing population. These rules emphasize reducing reliance on fossil fuels and aid in reducing the environmental pollution. This, in turn, encourages demand for renewable energy sources like solar energy and is the primary driver of photovoltaic energy demand, thus driving the market’s growth. Additional factors that are anticipated to boost solar demand and fuel the expansion of the photovoltaic software sector include the decrease in carbon emissions and the production of cheap electricity.
List of Prominent Players in the Photovoltaic Software Market:
Ardexa Pty Ltd.,
Solar Data Systems,
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Governments in various locations are continually drafting laws to make grid connections for solar installations convenient. During the anticipated period, the growth of the photovoltaic market is anticipated to be fueled by such initiatives and benevolent government policies. Many businesses are building renewable energy facilities as a result of environmental laws. In order to lower their carbon emissions, several nations are concentrating on eco-friendly power generation techniques. As a result, the amazing annual solar capacity installation promotes the expansion of the global market. Increased infrastructure needs and rising living standards are driving up demand for power production. Most nations are building new solar power facilities or expanding the capacity of their current ones in order to satisfy the rising demand. During the projected period, this is anticipated to fuel the expansion of the solar power market.
This market’s growth is anticipated to be hampered by elements including high installation, storage, and power conversion device costs as well as low PV module efficiency. A wide range of trained personnel is needed for photovoltaic installation, from Ph.D.-level researchers in R&D through technicians who need specific training and certification to a large number of additional specialists for supporting all facets of the solar industry. To handle the adoption of this technology, the industry lacks sufficient numbers of trained installers. One of the PV sector’s biggest problems is the lack of adequately skilled labour. For utility purposes, solar or PV systems need a lot of land. In contrast to wind generation, there is little chance that solar plants will share the land with agriculture operations. A significant problem is acquiring usable land.
North America is anticipated to hold a dominant share of the market. The North American region has been the centre of software innovation for the past few decades. This, along with the region’s governments’ vigorous promotion of renewable energy sources, has led to the region’s dominance of the world photovoltaic software market. Increasing market competition has helped reduce energy production costs and broaden the availability of solar panels. These factors are predicted to enhance demand for solar PV panel software in the region throughout the forecast period.
Increasing demand for localized solar energy systems and aggressive renewable energy goals are predicted to boost the solar PV software market over the forecast period.
- In February 2022, Aurora Solar announced the release of its new Sell Suite, which contains tools to assist in the production of correct solar designs in order to streamline the sales process and move installations to completion. With the help of the new Sales Mode’s guided approach, the sales representative can submit a precise proposal that includes all the project’s specifics, such as an interactive 3D design and financing possibilities.
- In December 2021, Stem Inc, an artificial intelligence-driven energy storage business, paid USD 695 million for solar asset management software supplier AlsoEnergy. The partnership will give renewable energy projects a “one-stop-shop solution” by combining Stem Inc.’s energy storage optimization capabilities with AlsoEnergy’s solar asset performance monitoring and control software.
Segmentation of Photovoltaic Software Market-
- Design and Simulation Software
- Asset Management Software
- Sales Software
- Monitoring Software
By Device Type
- Mobile Software
- PC Software
- Research Institutions
- The US
- The UK
- Rest of Europe
- South Korea
- South East Asia
- Rest of Asia Pacific
- Rest of Latin America
Middle East & Africa-
- GCC Countries
- South Africa
- Rest of Middle East and Africa
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