Solar Software Market Size, Share, Growth, And Industry Analysis By Type (On-Premise And Cloud) By Application (Performance Simulation, Financial Analysis, System Design, Proposal Generation, And Others), Regional Insights, and Forecast From 2024 To 2031

Updated On: 01 April 2024

Solar Software Market Report Overview

• 

• Request a Free Sample to learn more about this report

The global solar software market size was USD 189.6 million in 2021 and is expected to reach USD 349.86 million in 2031, exhibiting a CAGR of 6.32% during the forecast period.

A product called solar software is made to help businesses design and build more energy-efficient solar equipment. Solar photovoltaic software, or PV software, is another name for the solar program. The use of solar software enables businesses to create solar equipment from the ground up. It supports the entire process, from design to construction to operation in diverse locations. This software assists in the layout of designs, configuration optimization, creation of estimates for overall energy consumption, planning how the solar systems will be integrated, and tracking the cost of the materials used in manufacturing and installation, in addition to assisting in the production of the equipment itself. Solar engineering companies frequently employ solar software since it is useful in weighing the advantages and disadvantages of solar system projects in terms of their potential economic rewards.

The popularity of energy-efficient systems is driving growth in the market for solar software. One of the main factors driving the constant expansion of the solar software market is using software in the solar sector to evaluate the advantages and disadvantages of an installation and assist businesses in pursuing the most advantageous leads. The market for solar software is also flourishing due to efforts to conserve natural energy supplies and switch to green energy usage. Technological advancements in the photovoltaic market have also fuelled the solar software market growth.

COVID-19 Impact: Halt In Production Impeded Product Value

The global COVID-19 pandemic has been unprecedented and staggering, with solar software market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

Since the start of the COVID-19 pandemic, industries all around the world have had to revaluate their position in the global market. Due to a scarcity of personnel who could work closely together without running the risk of unintentionally spreading the virus to one another, many markets worldwide were impacted by the then-unknown virus. Similar negative consequences of the pandemic were observed in the market for solar software. The global lockdown governments imposed worldwide to stop the spread of infection caused the solar software business's supply chain to disrupt the market severely. The market for solar software is closely related to the solar systems market, which experienced a significant fall in demand as a result of the closure of commercial buildings.

Latest Trends

"New Technological Advances To Drive Market Demand"

The development of the market for solar software has been spurred by strict government regulations requiring more solar systems to be installed throughout the world's smart cities to become more energy efficient. It will be easier to visualize the integration and installation of solar panels in either residential or commercial structures with the help of the newly integrated solar software, which can also display 3D pictures of the designs.

Solar Software Market Segmentation

• 

• Request a Free Sample to learn more about this report

• By Type Analysis

The market can be divided into on-premise and cloud segments depending on type. During the market years of 2021–2027, the on-premise segment will have a sharp increase in the market by type.

• By Application Analysis

Based on application, the market can be divided into performance simulation, financial analysis, system design, proposal generation, and others. Performance simulation segment is expected to drive the market by application during the forecast period.

Driving Factors

"Evolution Of Solar Industry Proliferates Market Progress"

Solar energy has been a major source of renewable energy from the beginning of time. As time has passed, solar energy industry technologies also have advanced, largely to keep up with the times and ensure that their products are effective. The market for solar software experienced rapid adoption as a result of the development of concentrated solar power (CSP) and photovoltaic (PV) effects. The global market for solar software has been directly influenced by the sales and ever-expanding benefits of solar panels and their installation with new and integrated technologies. This has allowed for a better understanding of the profitability and effectiveness of solar electricity.

"Focus On Environmental Awareness Augments Product Value"

The environment is under stress as a result of climate change, global warming, and the ongoing use of non-renewable energy sources, which puts wildlife in peril. The market for solar-software has boomed in recent years due to the rising penetration of solar energy to protect the environment. The market for solar-software is expected to rank among the top markets over the projected period, as concerns about environmental stress caused by energy use are on the rise.

Restraining Factors

"High Cost And Maintenance Hinders Market Growth"

Although solar software and panels have many top-notch advantages, the cost of maintenance and upkeep is one of the key reasons the market for solar-software hasn't grown as much as it might. The solar software sector has been unable to advance due to the prohibitively expensive upfront cost of solar panel installation. The purchase price and general effectiveness of the solar-software are impacted by the maintenance of the solar energy panels, which is also extremely laborious.

Solar Software Market Regional Insights

• 

• Request a Free Sample to learn more about this report

"North America Dominates Due To Active Promotion Of Renewable Energy"

North America dominates the solar software market share. According to the regional governments, the market is increasing due to the nation's promotion of renewable energy and widespread use in both large and small communities to reduce the use of non-renewable energy. The market's growth has been accelerated by the increasing use of solar panels for residential structures in the area, which has also led to significant solar panel production, greatly enhancing the market's performance.

In terms of holding the majority of market shares for solar software, the European region trails North America. Due to regional government regulations promoting the use of as much solar energy as possible, the European region is likewise experiencing stable and active growth in the industry. The market for solar-software is growing due to recent developments in the photovoltaic software industry and the solar energy sector.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• National Renewable Energy Laboratory (U.S.)
• Aurora Solar (U.S.)
• PvSyst (Switzerland)
• Folsom Labs (U.S.)
• F-Chart software (U.S.)
• Natural Resources Canada (Canada)
• SOLARGIS (Slovakia)
• Homer Energy (U.S.)
• Laplace Systems (Japan)
• Chetu (U.S.)
• Skytron Energy (Germany)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors such as segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.