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Solar Home Systems Market | Emerging Trends and Industry Analysis

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Solar home systems are stand-alone solar photovoltaic (PV) systems that can supply electricity to households at remote off-grid locations for lighting and to power appliances, such as radios, fans, and televisions (TVs), while ensuring cost savings. As per the latest market research report published by Technavio, the global solar home systems market size will grow by USD 587.7 million during 2019-2023. This market report provides a detailed analysis of the market by type (PAYG products and cash products) and geography (MEA and ROW). Get the free sample report below for the detailed information.

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There has been rapid growth in the adoption of small portable devices such as tablets, smartphones, and e-readers, which consume relatively small amounts of electrical power. it is expected that most electrical devices and certain consumer items, such as clothing, could be connected to IoT devices, thus using energy to collect, process, store, transmit, and receive data. The use of such different types of portable electronic devices has been propelling the growth potential of solar home systems for charging of mobile phones, lanterns, and torches in remote areas with poor electricity connectivity. 

the number of small portable devices with integrated solar modules and rechargeable battery built into the design has progressed considerably. Also, certain devices use rechargeable batteries rather than disposable batteries for operations, thus allowing the devices to be recharged using solar home systems. Hence, the rapid growth in the adoption of portable devices is expected to boost the growth of the global solar home systems market at a CAGR of 25.83% during the forecast period. Get the free sample report below for the detailed information.

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