The Asia Pacific Power Optimizer Market would witness market growth of 10.8% CAGR during the forecast period (2022-2028).
Independent solar power systems are crucial for increasing energy availability in many places, including South Asia nation. As these systems deliver low management and maintenance expenses for the installation of solar panels, the private investors have adopted the standalone solutions as sustainable alternatives for electricity access, which is likely to grow the market for power optimizers.
The market will be driven by increasing public awareness of the adoption of low carbon-intensive technology to reduce GHG emissions. Government incentives and tax breaks that encourage the use of solar power in emerging nations also have a favorable effect on the market's growth. Some power optimizers are made to work with a central inverter from the same manufacturer, enabling the inverter to speak with the optimizers and ensure that it receives the same voltage level from the panel string every time.
As of April 2022, India's telecom sector had 1.17 billion users (wireless Plus wireline subscribers), making it the second-largest telecom industry in the world. India has an aggregate teledensity of 84.88%. The rural market, which is mostly untapped, has a teledensity of 58.16%, and the urban market has a teledensity of 134.70%. The total number of internet users, including narrowband and broadband subscribers, reached 829.3 million by the end of December 2021, with 37.25% of those users living in rural areas. As of April 2022, there were 788.77 million broadband customers. Additionally, the average monthly data usage per wireless data subscriber has climbed by 22,605%, from 61.66 MB in March 2014 to 14.97 GB in December 2021.
The China market dominated the Asia Pacific Power Optimizer Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $566 million by 2028 period. The Japan market is estimated to grow a CAGR of 10.1% during (2022 - 2028). Additionally, The India market would experience a CAGR of 11.5% during (2022 - 2028).
Based on Connectivity, the market is segmented into On-grid and Standalone. Based on Application, the market is segmented into Utility, Commercial and Residential. Based on End Use, the market is segmented into Module Level MPPT, Advanced Power Line Communication, Monitoring Components, Safety Shutdown Components and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Power Optimizer Market is Projected to reach USD 5.2 Billion by 2028, at a CAGR of 10.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Delta Electronics, Inc., SunPower Corporation, KACO new energy GmbH, Alencon Systems, LLC, SolarEdge Technologies, Inc., Enphase Energy, Inc., Tigo Energy, Inc., Altenergy Power System, Inc., Solantro Semiconductor Corp., and Sparq Systems Inc.
By Connectivity
By Application
By End Use
By Country
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