Solar Panel Monitoring System Market: Current Analysis and Forecast (2025-2033)

Solar Panel Monitoring System Market Size & Forecast

The Solar Panel Monitoring System Market was valued at approximately USD 1.56 billion in 2024 and is expected to grow at a substantial CAGR of around 15.2% during the forecast period (2025-2033), owing to the government support for renewable energy.

Solar Panel Monitoring System Market Analysis

A solar panel monitoring system is an essential tool for tracking the performance and output of a solar energy system. It collects data from the solar panels and reports it back to a server, allowing the system owner to monitor the power production in real-time. Some systems even offer the convenience of setting up alerts for sub-optimal performance.

The solar panel monitoring system market is experiencing significant growth globally. This growth is driven by the increasing adoption of solar energy systems and the need for efficient monitoring of these systems. The market size, segmentation, and growth are influenced by various factors including the impact of domestic and global market players, value chain optimization, trade regulations, and recent technological developments. Furthermore, the declining costs of solar energy systems and high investments in solar energy technologies are making solar energy more competitive in the energy generation industry.

Countries all around the world are heavily investing in renewable energy to meet their renewable energy targets, and the solar energy market is one of the prominent sources of energy, which has seen a massive boom in the last decade. For instance, in the USA, one of the leading nations for solar power, in the last decade alone, solar has experienced an average annual growth rate of 33%. Thanks to strong federal policies like the Solar Investment Tax Credit, rapidly declining costs, and increasing demand across the private and public sectors for clean electricity, there are now more than 140 gigawatts of solar capacity installed nationwide, enough to power 25 million homes.

Solar Panel Monitoring System Market Trends

This section discusses the key market trends influencing the various segments of the solar panel monitoring system market as identified by our research experts.

Integration of AI and IoT in Solar Panel Monitoring Systems

The solar panel monitoring system industry now takes a direction that combines the adoption of Artificial Intelligence (AI) and Internet of Things (IoT) systems. The integration of new technologies allows solar energy systems to run with real-time tracking ability while implementing predictive maintenance functions to keep operations running efficiently and reduce system stoppages. Continuous connections enabled by IoT in combination with AI performance analysis make solar panel systems able to prevent problems from worsening and achieve better energy output with decreased maintenance expenses. The implementation of this trend gives residential and commercial solar energy users better tools to reach maximum performance from their solar installations.

Solar Panel Monitoring System Market Industry Segmentation

This section provides an analysis of the key trends in each segment of the global Solar Panel Monitoring System market report, along with forecasts at the global, regional, and country levels for 2025-2033.

The Hardware Segment is Expected to Witness a Higher CAGR than the Solar Panel Monitoring System Market.

Based on component, the solar panel monitoring system market is divided into hardware and software segments. The Hardware segment acquired a majority share in the solar panel monitoring system market; however, the Software segment is expected to showcase a higher growth rate during the forecast period. A hardware component is typically installed either on each solar panel or alongside a solar string inverter to record power flow. It includes devices connected to your meter that gather and send data to a software program. Some leading manufacturers like SolarEdge and Enphase have their monitors built into their inverters.

The Utility-Scale Segments Holds the Largest Share of the Market.

Based on end-user, the solar panel monitoring system market is divided into Residential, Commercial & Industrial, and Utility-scale segments. The Utility-scale segment acquired a majority share in the Solar Panel Monitoring System market and is expected to showcase a substantial growth rate during the forecast period. Utility-scale PV remains the most competitive source of PV generation globally; however, building large-scale installations is becoming increasingly challenging in many regions of the world due to the lack of suitable sites. Moreover, Solar PV is the main choice for the private sector if they want to invest in renewable energy. Companies investing in distributed (including rooftop) solar PV installations on their commercial buildings and premises are responsible for around 30% of the total installed PV capacity, moreover, Companies are entering into corporate power purchase agreements with solar PV plant operators which would drive the market for Solar Panel Monitoring System during the forecast period.

APAC has a significant share of the market in 2024.

APAC registered the highest market share in the Solar Panel Monitoring System market and is expected to witness an influential CAGR in the forecasted period. It is mainly owing to many Solar Photovoltaic (PV) Cell projects taking place in China, India, Australia, and Japan. Moreover, favorable government policies, regulations, and investments in achieving renewable energy targets set by various countries are driving the market. For instance: In Australia, the Australian government will provide AUD 14 million to support 5B’s AUD 33.4 million strategic technology innovation project through the Australian Renewable Energy Agency; In Japan, the Japanese government allocated 8 billion yen in the 2021 national budget to support the introduction of independent solar power generation equipment and storage batteries including electric vehicles through on-site PPA; and in India, the Government of India announced an additional capital infusion of Rs. 10 billion to the Solar Energy Corporation of India and Rs.15 billion to the Indian Renewable Energy Development Agency.

China Dominates the APAC Solar Panel Monitoring System Market

The Chinese market for solar panel monitoring systems is expanding rapidly because China strongly supports solar energy through substantial funding and aggressive renewable energy goals. The solar energy industry leader, China, produces the most solar panels worldwide while leading the sector, so it now implements solar monitoring technologies for better efficiency and performance results. The government supports solar power adoption through financial incentives and policy subsidies to drive consumer adoption of monitoring solutions. The Chinese market for solar panel monitoring technology will expand at an accelerating pace in the upcoming period as solar panel projects rise, together with regional efforts to achieve carbon neutrality goals.

Solar Panel Monitoring System Market Industry Competitive Landscape

The solar panel monitoring system market is competitive, with several global and international players. The key players are adopting different growth strategies to enhance their market presence, such as partnerships, agreements, collaborations, new product launches, geographical expansions, and mergers and acquisitions.

Top Solar Panel Monitoring System Market Companies

Some of the major players operating in the market are SolarEdge, ABB, Green Power Monitor, Power Factors LLC., SolarMan, Solargis, AlsoEnergy, Inc., SMA Solar Technology AG, MeteoControl, and Solar-Log GmbH

Recent Developments in the Solar Panel Monitoring System Market

• In June 2024, SolarEdge Technologies, Inc. ("SolarEdge" or the "Company"), a global leader in smart energy technology, announced the global release of SolarEdge ONE for Candi, a software-based energy optimization platform for industry and electronic industry (C&I) applications.
• In March 2024, Emporia launched the Vue 3 Energy Monitor, a home energy management product that provides circuit views from the home's electrical floor. Vue 3 includes Emporia Smart Plugs, Level 2 EV chargers, home battery systems, third-party smart thermostats, and home automation devices to ensure that customers save on their energy bills.

Solar Panel Monitoring System Market Report Coverage

Reasons to Buy the Solar Panel Monitoring System Market Report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at a glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional-level analysis of the industry.

Customization Options:

The global Solar Panel Monitoring System market can be customized further as per the requirements or any other market segment. Besides this, UnivDatos understands that you may have your own business needs; hence, feel free to contact us to get a report that completely suits your requirements.