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Power Optimizer: Introduction

  • Power optimizers are DC/DC converters attached at module level, which allows each module to attain its maximum power point and then convert the energy to achieve optimum voltage and current
  • Power optimizers continuously monitor the voltage & current of array and help mitigate any mismatch due to shading of light or wind
  • For handling MPPT (Maximum Power Point Tracking), power optimizers deploy minimal electronic setup at the place of installation. This reduces their hardware cost and improves reliability. Demand for power optimizers has been rising in the power business, as they are used as substitutes for module level power checking. In comparison with module level power checking, the MPPT technology offers higher operational efficiencies.

Key Drivers and Restraints of Power Optimizer

  • According to the International Energy Agency, total energy consumption in the commercial sector stood at 4, 12,627 Ktoe in 2018 and is anticipated to rise during the forecast period. Rising awareness about electricity generation with the help of renewable energy sources is anticipated to boost the global power optimizer market during the forecast period, as power optimizer technology is primarily developed to maximize the energy developed from wind turbines and solar PV cells.
  • According to the Department of Energy, in 2020, the average number of units consumed per sq. feet for commercial building stood at 22.5 and is expected to rise during the forecast period. Continuous rise in unit consumption is expected to boost the global power optimizer market.
  • Increase in concerns related to environment and implementation of stringent government regulations to control carbon footprints have encouraged industries to opt for integration with effective energy conservation methods. Power optimizer has become a key component in advanced solar power plants. Operational and regulatory re-structuring in well-established markets coupled with advancement in technologies are driving the market. Manufacturing firms across the globe are working on power output, nature-compatibility, and reduced installation prices. These are the significant factors propelling the power optimizer market.

COVID-19 Impact Analysis

  • Governments of several countries across the globe have imposed stringent lockdowns to limit the spread of the coronavirus. Movement of individuals and economic activities, related to goods and services, have come to a halt because of lockdowns. This has adversely affected the demand for electricity for commercial purposes. In turn, this has hampered the global power optimizer market.

Power Optimizer Market Segmentation

  • The global power optimizer market can be segmented based on connectivity and application
  • In terms of connectivity, the global power optimizer market can be segregated into standalone and on-grid  
  • In terms of application, the global power optimizer market can be divided into residential, commercial, and utility. The residential segment is expected to expand significantly in the near future. This can be ascribed to the rise in number of initiatives by governments of various countries to offer grants for residential rooftop deployment.

Power Optimizer Market: Regional Segmentation

  • In terms of region, the global power optimizer market can be split into Middle East & Africa, Latin America, Asia Pacific, Europe, and North America
  • In 2018, GreenBrilliance USA, a supplier of solar based products, propelled an AI-based solar power optimizer called Neurobotz for homes. In September 2018, SolarEdge Technologies and Panasonic Eco Solutions launched the HIT S Series Module – an all-new smart module, improved by SolarEdge, for the U.S. private market. Thus, continuous technological advancements are estimated to drive the power optimizer market in North America.
  • Asia Pacific is anticipated to dominate the global power optimizer market during the forecast period. Governmental incentives, solar tax credits, and streamlined remuneration plans by governments and authorities are key factors driving the power optimizer market in the region

Key Players Operating in Global Market:

  • SolarEdge Technologies, Inc
  • Enphase Energy
  • Tigo Energy
  • Altenergy Power System, Inc
  • SunPower Corporation
  • Ampt, LLC
  • Delta Energy Systems
  • KACO New Energy, Inc
  • Array Power
  • Solantro
  • Alencon Systems, LLC
  • i-Energy Co., Ltd
  • Chilicon Power, LLC
  • Petra Systems
  • Sparq Systems

Global Power Optimizer Market: Research Scope

Global Power Optimizer Market, by Connectivity

  • Standalone
  • On-grid

Global Power Optimizer Market, by Application

  • Residential
  • Commercial
  • Utility

Global Power Optimizer Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

With a robust experience in creating exceptional market reports, Transparency Market Research has emerged as one of the trusted market research companies among a large number of stakeholders and CXOs. Every report at Transparency Market Research goes through rigorous research activity in every aspect. The researchers at TMR keep a close watch on the market and extract beneficial growth-boosting points. These points help the stakeholders to strategize their business plans accordingly.

TMR researchers conduct exhaustive qualitative and quantitative research. This research involves taking inputs from the experts in the market, focused attention on recent developments, and others. This method of research makes TMR stand out from other market research firms.

Here's how Transparency Market Research helps the stakeholders and CXOs through the reports:

Inculcation and Evaluation of Strategic Collaborations: The TMR researchers analyze recent strategic activities like mergers, acquisitions, partnerships, collaborations, and joint ventures. All the information is compiled and included in the report.

Perfect Market Size Estimations: The report analyzes the demographics, growth potential, and capability of the market through the forecast period. This factor leads to the estimation of the market size and also provides an outline about how the market will retrieve growth during the assessment period.

Investment Research: The report focuses on the ongoing and upcoming investment opportunities across a particular market. These developments make the stakeholders aware of the current investment scenario across the market.

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Power Optimizer Market