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Power Optimizer Market to Hit $7.3 Billion by 2031: Allied Market Research – GlobeNewswire

| Source: Allied Market Research Allied Market Research
Pune, INDIA
Portland, OR, July 12, 2022 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global power optimizer market accrued $2.6 billion in 2021, and is predicted to garner $7.3 billion by 2031, registering a CAGR of 10.8% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.
Surge in installation of sustainable energy source for power generation across the globe has boosted growth of the global power optimizer market. Furthermore, rise in investment for constructing green buildings and the need for stable and reliable electrical infrastructure drive the market trends. Additionally, government incentives and tax reduction in emerging economies will promote the consumption of solar energy, thereby creating new growth opportunities for the market.
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The report offers detailed segmentation of the global power optimizer market based on connectivity, application, end use, and region.
Based on the application, the utility segment accounted for the largest share of the market in 2021, contributing to more than two-fifths of the overall share of the global power optimizer market. However, the commercial segment is predicted to record the highest CAGR of 11.3% from 2022 to 2031.
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Based on end use, the module level MPPT segment accounted for the largest share of the market in 2021, contributing to nearly three-fifths of the overall share of the global power optimizer market. The report also analyzes the segments including advanced power line communication, monitoring components, safety shutdown components, and others.
Based on the region, the Asia-Pacific contributed toward the highest market share in 2021, accounting for more than half of the market. Moreover, the Asia-Pacific power optimizer market is set to register the fastest CAGR of 11.2% from 2022 to 2031. The research also analyzes regions including North America, Europe, and LAMEA.
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Key players profiled in the global power optimizer market research report are SolarEdge Technologies, Inc., Alencon Systems, LLC, Enphase Energy, Kaco New Energy, Inc., Tigo Energy, Sunpower Corporation, Altenergy Power System, Delta Energy Systems, Solantro, Inc., and I-energy Co., Ltd.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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