Global Photovoltaic Software Market

Report ID : 1334 | Published : 2022-07-29 | Pages: | Format: PDF/EXCEL

The market size of the Global Photovoltaic Software Market is predicted to show an 8.12% CAGR during the projected period.

Solar manufacturers may construct projects that appropriately match the client's needs thanks to photovoltaic design and simulation software, allowing them to project detailed simulation data on the project's functioning. Most solar software incorporates financial feasibility modelling, allowing developers and their clients to assess the projects' economic benefits. The demand for software-based solutions and services in this industry has expanded as solar rooftop installations become more popular globally. Photovoltaic software has gone a long way in recent years, from software used to design and simulate solar installations to monitoring projects to software used to increase manufacturer sales. The primary drivers of the photovoltaic software market have been the rising demand for solar rooftop installations as the world moves away from fossil fuels and government initiatives worldwide to promote solar energy generation. 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. The market is anticipated to be driven by rising demand for software solutions for asset management, monitoring, and impromptu project ideas.

The scarcity of workers with the necessary skills has been one of the PV industry's main issues. Solar or PV systems need a lot of land for utility purposes. There is little probability that solar power plants will coexist with agricultural operations, in contrast to wind power. Acquiring suitable land is a key issue. It is projected that factors like expensive installation, storage, and power conversion equipment costs, as well as low PV module efficiency, will limit the growth of this market.

Market Segmentation:

The Photovoltaic Software Market is segmented on the basis of Component, Application, Device Type, and End-User. Based on Component, the market is categorized as Solutions and Services. Based on Application, the market is segmented as Design and Simulation Software, Asset Management Software, Sales Software, and Monitoring Software. Based on Device Type, the market is segmented as Mobile Software and PC Software. Based on End-User, the market is segmented into Residential, Industrial, and Research Institutions.

Based on Application, the Design and Simulation Software segment is accounted as a significant contributor to the Photovoltaic Software Market.

The market was dominated by design and simulation software. Design and simulation software historically entered the solar software market first. Manufacturers of solar panels and research organizations frequently employ such software to analyze the potentials and constraints of a project. In the upcoming years, it is anticipated that the rising demand for new projects and the rising number of solar projects will further propel this market. It is anticipated that factors like planned solar projects and government support to lessen dependency on fossil fuels will increase the adoption of renewable energy sources. During the projected period, it is anticipated that this will increase the demand for solar PV panels, which will increase the demand for PV design. One of the key factors influencing the use of solar PV design and simulation software in the commercial, industrial, and residential sectors is the increasing understanding among the general population of the benefits of using low-carbon technology to minimize carbon footprint.

Based on End-User, the industrial segment is accounted as a major contributor to the Photovoltaic Software Market.

Of all the segments, the industrial one is predicted to develop at the quickest rate. In order to meet their needs, industrial end-users use photovoltaic software for project design, sales optimization, project monitoring, and customer-facing software. The main driver of this market has been the extensive functionality that commercial users need to satisfy both their and clients' needs. Governments in several nations, including those in India, China, and the US, provide financial incentives and tax breaks to industrial users who install PV systems, which is anticipated to drive the market's expansion for these systems in industrial applications throughout the course of the forecast period. Extra-large rooftop solar PV systems have been used in order to adopt large-scale storage systems to protect against variations in peak demand power supply and store the needed power in batteries. It is anticipated that rising energy consumption brought on by industrialization and population increase will propel segment expansion.

The North America Photovoltaic Software Market holds a significant revenue share in the region.

It's expected that North America will control a significant portion of the market. The North American region has been the epicenter of software innovation for the past few decades. This, together with the governments' active promotion of renewable energy sources in the region, has contributed to the region's domination of the global photovoltaic software market. High power demand, rising living standards, and adequate solar irradiation are a few of the major drivers of the area's market's expansion. The major drivers of the market's growth include favourable rules, targets for renewable energy, and an increase in the number of solar farms. The region is the most significant manufacturer and consumer in terms of PV modules and related PV components. The demand for PV systems in the region is anticipated to increase over the course of the forecast period as a result of several initiatives and advantageous policies by governments of various regions to encourage the usage of solar energy.

Competitive Landscape

The key players in the Photovoltaic Software Market have shifted their focus towards bio-based components for product manufacturing and are initiating significant strategies such as mergers, acquisitions, and through partnerships with regional and international companies to expand their product offerings and expand their global market presence. Some of the major key players in the Photovoltaic Software Market are PVSyst, Homer Energy, Greenius, SunSniffer, Folsom Labs, Aurora Solar, Energy Toolbase, Schneider Electric, Tigo Energy, Verdiseno, Blu Banyan, Scanifly, Sofdesk, SunbaseData, Ardexa Pty Ltd., AZZO, Nextracker, SMA America, Solar Data Systems, SolarView Technologies, PowerHub, Heliolytics, geothinQ, and Valentin Software.

Chapter 1. Methodology and Scope

1.1. Research Methodology

1.2. Research Scope & Assumptions

Chapter 2. Executive Summary

Chapter 3. Global Photovoltaic Software Market Snapshot

Chapter 4. Global Photovoltaic Software Market Variables, Trends & Scope

4.1. Market Segmentation & Scope

4.2. Drivers

4.3. Challenges

4.4. Trends

4.5. Investment and Funding Analysis

4.6. Industry Analysis – Porter’s Five Forces Analysis

4.7. Competitive Landscape & Market Share Analysis

4.8. Impact of Covid-19 Analysis

Chapter 5. Market Segmentation 1: By Component Estimates & Trend Analysis

5.1. By Component & Market Share, 2020 & 2030

5.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2020 to 2030 for the following By Component:

5.2.1. Solutions

5.2.2. Services

Chapter 6. Market Segmentation 2: By Application Estimates & Trend Analysis

6.1. By Application & Market Share, 2020 & 2030

6.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2020 to 2030 for the following By Application:

6.2.1. Design and Simulation Software

6.2.2. Asset Management Software

6.2.3. Sales Software

6.2.4. Monitoring Software

Chapter 7. Market Segmentation 3: By Device Type Estimates & Trend Analysis

7.1. By Device Type & Market Share, 2020 & 2030

7.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2020 to 2030 for the following By Device Type:

7.2.1. Mobile Software

7.2.2. PC Software

Chapter 8. Market Segmentation 3: By End-User Estimates & Trend Analysis

8.1. By End-User & Market Share, 2020 & 2030

8.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2020 to 2030 for the following By End-User:

8.2.1. Residential

8.2.2. Industrial

8.2.3. Research Institutions

Chapter 9. Photovoltaic Software Market Segmentation 4: Regional Estimates & Trend Analysis

9.1. North America

9.1.1. North America Photovoltaic Software Market revenue (US$ Million) estimates and forecasts By Component, 2020-2030

9.1.2. North America Photovoltaic Software Market revenue (US$ Million) estimates and forecasts By Application, 2020-2030

9.1.3. North America Photovoltaic Software Market revenue (US$ Million) estimates and forecasts by Device Type, 2020-2030

9.1.4. North America Photovoltaic Software Market revenue (US$ Million) estimates and forecasts By End-user,2020-2030

9.1.5. North America Photovoltaic Software Market revenue (US$ Million) estimates and forecasts by country, 2020-2030

9.2. Europe

9.2.1. Europe Photovoltaic Software Market revenue (US$ Million) By Component, 2020-2030

9.2.2. Europe Photovoltaic Software Market revenue (US$ Million) By Application, 2020-2030

9.2.3. Europe Photovoltaic Software Market revenue (US$ Million) estimates and forecasts by Device Type, 2020-2030

9.2.4. Europe Photovoltaic Software Market revenue (US$ Million) estimates and forecasts By End-user,2020-2030

9.2.5. Europe Photovoltaic Software Market revenue (US$ Million) by country, 2020-2030

9.3. Asia Pacific

9.3.1. Asia Pacific Photovoltaic Software Market revenue (US$ Million) By Component, 2020-2030

9.3.2. Asia Pacific Photovoltaic Software Market revenue (US$ Million) By Application, 2020-2030

9.3.3. Asia Pacific Photovoltaic Software Market revenue (US$ Million) estimates and forecasts by Device Type, 2020-2030

9.3.4. Asia Pacific Photovoltaic Software Market revenue (US$ Million) estimates and forecasts By End-user,2020-2030

9.3.5. Asia Pacific Photovoltaic Software Market revenue (US$ Million) by country, 2020-2030

9.4. Latin America

9.4.1. Latin America Photovoltaic Software Market revenue (US$ Million) By Component, (US$ Million)

9.4.2. Latin America Photovoltaic Software Market revenue (US$ Million) By Application, (US$ Million)

9.4.3. Latin America Photovoltaic Software Market revenue (US$ Million) estimates and forecasts by Device Type, 2020-2030

9.4.4. Latin America Photovoltaic Software Market revenue (US$ Million) estimates and forecasts By End-user,2020-2030

9.4.5. Latin America Photovoltaic Software Market revenue (US$ Million) by country, 2020-2030

9.5. Middle East & Africa

9.5.1. Middle East & Africa Photovoltaic Software Market revenue (US$ Million) By Component, (US$ Million)

9.5.2. Middle East & Africa Photovoltaic Software Market revenue (US$ Million) By Application, (US$ Million)

9.5.3. Middle East & Africa Photovoltaic Software Market revenue (US$ Million) estimates and forecasts by Device Type, 2020-2030

9.5.4. Middle East & Africa Photovoltaic Software Market revenue (US$ Million) estimates and forecasts By End-user,2020-2030

9.5.5. Middle East & Africa Photovoltaic Software Market revenue (US$ Million) by country, 2020-2030

Chapter 10. Competitive Landscape

10.1. Major Mergers and Acquisitions/Strategic Alliances

10.2. Company Profiles

10.2.1. PVSyst,

10.2.2. Homer Energy,

10.2.3. Greenius,

10.2.4. SunSniffer,

10.2.5. Folsom Labs,

10.2.6. Aurora Solar,

10.2.7. Energy Toolbase,

10.2.8. Schneider Electric,

10.2.9. Tigo Energy,

10.2.10. Verdino,

10.2.11. Blu Banyan,

10.2.12. Scanifly,

10.2.13. Softdisk,

10.2.14. SunbaseData,

10.2.15. Ardexa Pty Ltd.,

10.2.16. AZZO,

10.2.17. Nextracker,

10.2.18. SMA America,

10.2.19. Solar Data Systems,

10.2.20. SolarView Technologies,

10.2.21. PowerHub,

10.2.22. Heliolytics,

10.2.23. geothinQ,

10.2.24. Valentin Software

Other Prominent Players

Segmentation of Photovoltaic Software Market-

By Component

  • Solutions
  • Services

By Application

  • Design and Simulation Software
  • Asset Management Software
  • Sales Software
  • Monitoring Software

By Device Type

  • Mobile Software
  • PC Software

By End-User

  • Residential
  • Industrial
  • Research Institutions

By Region-

North America-

  • The US
  • Canada
  • Mexico

Europe-

  • Germany
  • The UK
  • France
  • Italy
  • Spain
  • Rest of Europe

Asia-Pacific-

  • China
  • Japan
  • India
  • South Korea
  • South East Asia
  • Rest of Asia Pacific

Latin America-

  • Brazil
  • Argentina
  • Rest of Latin America

 Middle East & Africa-

  • GCC Countries
  • South Africa

Rest of Middle East and Africa

InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.

Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.

Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.

Secondary research

The secondary research sources that are typically mentioned to include, but are not limited to:

  • Company websites, financial reports, annual reports, investor presentations, broker reports, and SEC filings.
  • External and internal proprietary databases, regulatory databases, and relevant patent analysis
  • Statistical databases, National government documents, and market reports
  • Press releases, news articles, and webcasts specific to the companies operating in the market

The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista

Primary Research:

Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies

The contributors who typically take part in such a course include, but are not limited to: 

  • Industry participants: CEOs, CBO, CMO, VPs, marketing/ type managers, corporate strategy managers, and national sales managers, technical personnel, purchasing managers, resellers, and distributors.
  • Outside experts: Valuation experts, Investment bankers, research analysts specializing in specific markets
  • Key opinion leaders (KOLs) specializing in unique areas corresponding to various industry verticals
  • End-users: Vary mainly depending upon the market

Data Modeling and Analysis:

In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.

The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.

To know more about the research methodology used for this study, kindly contact us/click here.

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8.12% CAGR during the projected period.

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