Report ID: UCMIG45A2047
Report ID:
UCMIG45A2047 |
Region:
Global |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
The market for rooftop solar PV systems was estimated at USD 66.84 billion in 2019; from 2020 to 2027, it is anticipated to increase at a compound annual growth rate (CAGR) of 6.1%. The market is anticipated to increase as a result of increasing use of renewable energy for the creation of electricity and the abundance of solar energy available during the day. End-user consumers can protect their investment in rooftop solar PV systems from fluctuating electricity costs. Because the cost of the electricity produced by these photovoltaics can be easily calculated, end-use segments can estimate their electricity generation costs for another ten years. Over the course of the forecast, this trend will have a favourable impact on the market environment.
This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Internet Software & Services by segment aggregation, the contribution of the Internet Software & Services in Software & Services and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
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Report ID: UCMIG45A2047