The global photovoltaic software market is estimated to grow at a CAGR of 8.21% during the forecast period.
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Solar manufacturers can create projects that precisely match customer needs through photovoltaic design and simulation software, allowing them to project detailed simulation data of project operation. Most solar software includes financial feasibility modeling that allows producers and their customers to assess the financial benefits of projects. With the growing demand for rooftop solar installations and the abundance of solar vendors in the market, vendors are now forced to develop unsolicited models and financial proposals in order to satisfy customer needs. There is a growing need for sustainable energy resources, along with benevolent government policies, due to the increase in energy consumption caused by the increase in population. These rules focus on reducing dependence on fossil fuels and help reduce environmental pollution. This, in turn, encourages the demand for renewable energy sources like solar power and is the main driver for the demand for photovoltaic energy, thus driving the growth of the market. Other factors that are expected to boost solar demand and fuel the expansion of the photovoltaic software industry include lower carbon emissions and cheap electricity generation.
List of Major Players of Photovoltaic Software Market:
Energy Tool Base,
Ardexa Pty Ltd.,
Solar Data Systems,
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Governments in various places are continually drafting laws to facilitate grid connections for solar installations. During the predicted period, the growth of the photovoltaic market is expected to be fueled by such initiatives and benevolent government policies. Many companies are building renewable energy facilities due to environmental laws. In order to reduce their carbon emissions, several countries are focusing on environmentally friendly electricity generation techniques. As a result, the incredible annual solar capacity installation promotes the expansion of the global market. Increased infrastructure needs and rising living standards are increasing the demand for electricity generation. Most countries are building new solar power installations or increasing the capacity of their current ones to meet growing demand. Over the projected period, this is expected to fuel the expansion of the solar power market.
The growth of this market is expected to be hindered by such things as high costs of installation, storage and power conversion devices, as well as low efficiency of PV modules. A wide range of trained personnel is needed for the PV installation, from researchers with PhDs in R&D to technicians who need specific training and certification to a large number of additional specialists to support all facets of the solar industry. To manage the adoption of this technology, the industry lacks a sufficient number of trained installers. One of the biggest problems in the photovoltaic sector is the lack of sufficiently qualified manpower. For utility purposes, solar or PV systems need a lot of land. Unlike wind generation, solar power plants are unlikely to share land with farms. An important problem is the acquisition of usable land.
North America is expected to hold a dominant share of the market. The North American region has been the center of software innovation over the past decades. This, along with the vigorous promotion of renewable energy sources by governments in the region, has led to the region’s dominance in the global photovoltaic software market. Growing competition in the market has helped reduce energy production costs and expand the availability of solar panels. These factors are expected to increase the demand for solar PV panel software in the region throughout the forecast period.
Rising demand for localized solar power systems and aggressive renewable energy targets are expected to drive 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 help produce correct solar designs to streamline the sales process and complete installations. Using the New Way of Selling’s guided approach, the sales representative can submit an accurate proposal that includes all project specifics, such as interactive 3D design and financing opportunities.
• In December 2021, Stem Inc, an artificial intelligence-based energy storage company, paid $695 million for solar asset management software provider AlsoEnergy. The partnership will offer renewable energy projects a “one-stop solution” by combining Stem Inc.’s energy storage optimization capabilities with AlsoEnergy’s solar asset performance monitoring and control software.
Photovoltaic Software Market Segmentation-
• Design and simulation software
• Asset management software
• Sales software
• Monitoring software
By device type
• Mobile software
• PC software
Per end user
• Research institutes
• United States
• Great Britain
• Rest of Europe
• South Korea
• South East Asia
• Rest of Asia-Pacific
• Rest of Latin America
Middle East and Africa-
• GCC countries
• South Africa
• Rest of the Middle East and Africa
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