Global PV monitoring market will reach 23GW in 2012 and 50GW in 2016, report forecasts

Aug 6, 2012 -Julia Chan -


Opportunities surface for PV monitoring suppliers as global PV monitoring market forecasted to reach 50GW by 2016.

The global PV monitoring market is predicted to reach 23GW in 2012, according to the Global PV Monitoring 2012 report published by GTM Research.

Moreover, the market - which includes inverter suppliers, independent monitoring vendors and project developers that integrate hardware and software to manage PV systems - is expected to further expand to reach a monitored PV capacity to almost 50GW by 2016, indicating robust opportunities for existing and new suppliers. At present, the report reveals, European independent monitoring vendors lead the market.

Monitoring technology is a key aspect of a PV plant's successful operation. However, according to GMT Research, the market has received a lack of attention due to its relatively low impact on the up-front cost of a PV system.

The report, Global PV Monitoring: Technologies, Markets and Leading Players, 2012-2016, was released by GTM Research and SoliChamba Consulting. It includes global and regional market shares by company and market share by segment, as well as demand projections to 2016 by market segment and region. It also provides profiles on 20 key players in the industry including GE Energy, SunEdison and SunPower.