Global Solar Farm Automation Market 2016-2020

Overview of the solar farm automation market

Technavio’s market research analysts have predicted the global solar farm automation market to experience staggering growth at an impressive CAGR of more than 17% during the forecast period. The increasing investments in solar farms are one of the key growth drivers of this market during the forecast period. The rising demand for a renewable and sustainable form of energy has attracted substantial investments in solar, hydro, and wind power markets. The investments made by developed countries in the solar energy market accounted for 58% of the market share in 2014 while developing countries accounted for nearly 42% of the investments. For instance, in 2014, Verizon Communications announced its plans to invest close to USD 38 million to boost its existing solar energy production. Moreover, developing countries like India is also witnessing massive investments in solar power projects which are expected to spur the growth of this market in the coming years.

In this industry research report, the analysts have estimated factors like the increasing number of tie-ups to encourage the use of solar power in emerging countries to propel the growth prospects of this market over the forecast period. Power companies worldwide are forming close partnerships among themselves to promote the use of solar power in developing nations. For example, Conergy and NEXTracker formed an alliance in Latin America and the Caribbean. This partnership is expected to be the leading sponsor of the Latin America-focused solar events, to be held worldwide. Moreover, the alliance plans to use these events as a platform to highlight and share the industry’s best practices, create an online knowledge base and content sharing, and upload education and advocacy on solar power generation. The alliance has gained confidence from Latin American countries and has started receiving new solar projects which will aid in the growth of this market until the end of 2020.

Product segmentation and analysis of the solar farm automation market

• Solar tracker
• Distributed control system (DCS)
• Supervisory control and data acquisition (SCADA)
• Programmable logic controller (PLC)