Solar Based Internet of Things (IoT) Market

Solar Based Internet of Things (IoT) Market - Overview

The concept of solar-powered IoT is a result of increased demand for renewable energy sources and cutting-edge digitization techniques. Solar-powered IoT is an innovative technical trend which is slowly gaining traction in the global market. The Internet of Things (IoT) enables the communication of various types of machines and devices that are linked together in a system. The global solar-based IoT market has infinite growth potential in the coming years on account of the rapid technological advancements in solar-based technology and the advent of digitalization in the IoT industry are projected to help increase the sales growth of the global solar based internet of things market during the forecast period set between 2021 and 2031.

The global solar based interne of things market is categorized on the basis of product type, platform, material type, application, and region. Based on product type, the market is grouped into thin-film solar, organic photovoltaic, and crystalline. Among these, the crystalline segment is again bifurcated into polycrystalline and monocrystalline. With respect to platform, the market is split into GSM boards, and IoT Data Platforms. On the basis of material type, the market is divided into silicon and others. The application segment is further categorized into radiation screening, rainfall measuring, wave monitoring, temperature sensing, moisture sensing, and others.

The research report on the solar based internet of things market offers a comprehensive overview of the market and its growth parameters such as drivers, restraints, challenges, and new growth opportunities. It also highlights the impact of the novel COVID19 pandemic on this market and how can players gain benefit from this situation in the coming years. Besides this, the report discusses the table of segmentation with the names of the leading segments and factors supporting its growth. The report further discusses the list of players and their key contributions in the form of various product launches and innovation.

Solar Based Internet of Things (IoT) Market - Competitive Landscape

The nature of this market is highly fragmented owing to the presence of many players. Some of the players are investing in product quality improvement and innovative launches to attract better revenues. Others are engaging in merger and acquisition, joint ventures, and other collaborative strategies to ensure a notable position in the overall market competition.

Some of the key players of the global solar based internet of things market include:

• Solarmer
• Next Energy
• Trony Solar
• Xunlight Kunshan
• Hankey Asia
• Solar Frontier K.K.
• Global Solar
• Oxford Photovolaics
• MiaSole Hi-Tech Corp.
• First Solar
• Ascent Solar Technologies
• Cypress Semiconductor Corporaion
• Mahindra Susten Private Limited
• Sunworks Inc.
• Sierra Wireless Inc.
• Voltaic Inc.
• Alta Devices Inc.
• Solar Sps.
• Other players

Solar Based Internet of Things (IoT) Market - Growth Drivers

The primary growth drivers in the global solar-based IoT industry are rapid technological innovations — coupled with digitization. Another factor driving global demand for solar-powered IoT is the ability of IoT to improve various production processes by making them more energy and material-efficient. Solar-powered IoT devices help to monitor energy usage and prevent energy waste. Such factors are expected to increase the sales projections of the global solar based internet of things market in the forecast period.

Solar Based Internet of Things (IoT) Market - Geographical Insights

Regionwise, North America emerged as the largest revenue generator for the global solar based internet of things market owing to the increasing number of IoT applications across multiple sectors. Additionally, the rapid use of smart devices and the increasing acceptance of digitalization across most sectors will further help this region continue to dominate the market in the coming years.