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(Wireless-NewsWire.Com, March 05, 2025 ) The Photovoltaic Software Market Size is valued at USD 895.60 million in 2023 and is predicted to reach USD 1,669.75 million by the year 2031 at an 8.5 % CAGR during the forecast period for 2024-2031.
Global Photovoltaic Software Market 2025-2034 full Research Repot latest version is now available.
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Latest Drivers Restraint and Opportunities Market Snapshot:
Key factors influencing the global Photovoltaic Software market are:
Growing adoption of photovoltaic systems for residential applications
Rising Demand for Electricity
The increasing investments in solar power
The following are the primary obstacles to the Photovoltaic Software market's expansion:
Lack of skilled workforce for PV installation and maintenance
Growing number of off-grid areas worldwide
Land Use Constraints to Hinder the Global Market Growth
Future expansion opportunities for the global Photovoltaic Software market include:
Increasing investments in renewable energy
Rising Investment in Solar Energy
Key Industry Insights & Findings from the report:
The rising number of off-grid locations worldwide is a major driver of the global photovoltaic business. Off-grid locations are those that are not linked to the regular grid and lack access to energy. Because these places are sometimes distant or rural, there is an increasing demand for dependable and sustainable energy solutions.
The growing global demand for solar energy, driven by reasons such as environmental aspirations and lower costs, represents a tremendous potential for PV monitoring systems, as more solar installations require effective monitoring solutions.
North America is expected to have the largest market share in 2024 due to an increase in surgical procedures and a rise in preference for endovascular devices.
The photovoltaic software market is predicted to expand due to the increasing need for software solutions and services for creating, monitoring, and managing solar projects.
Market Analysis:
As the global demand for solar rooftop installations grows, so does the demand for software-based solutions and services in this industry. Photovoltaic software has advanced significantly in recent years, beginning with software used to design and simulate solar systems and progressing to monitoring projects and software designed to increase manufacturer sales.
Photovoltaic design and simulation software enables solar producers to build projects that fit the client's unique specifications while also projecting complete simulation data on project performance.
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List of Prominent Players in the Photovoltaic Software Market:
PVSyst
Homer Energy
Greenius
SunSniffer
Folsom Labs
Aurora Solar
Energy Toolbase
Schneider Electric
Tigo Energy
Verdiseno
Blu Banyan
Scanifly
Sofdesk
SunbaseData
Recent Developments:
In January 2023, NorthStar Medical Radioisotopes (US) has made significant progress in developing its novel method for producing molybdenum-99 (Mo-99), a crucial medical radioisotope, without using uranium.
In May 2024, Mauritius launched its new National Cancer Centre in Solferino, marking the completion of nearly 10 years of IAEA support for the country's nuclear medicine development. The new center is expected to drastically change cancer care for Mauritius patients by consolidating all oncology services, including nuclear medicine, under one roof.
In January 2023, NorthStar Medical Radioisotopes significantly improved its process for creating molybdenum-99 without uranium. This strategic move propels the organization to the forefront of the nuclear medicine market while solving important supply chain challenges.
Photovoltaic Software Market Dynamics:
Market Drivers: Growing adoption of photovoltaic systems for residential applications
The residential sector is one of the primary application areas and early users of PV systems and products. There is a high demand for PV goods in this area. The number of residential solar rooftop installations has also increased significantly over the years worldwide.
The residential sector is showing a strong hunger for solar system installation as end users become more eager to embrace energy-efficient solutions. This may be due mostly to growing knowledge of global climate change and the negative consequences of greenhouse gas emissions.
Demand for solar PV panels for residential usage has increased as oil and gas prices have risen and solar PV panel costs have decreased, making them a more appealing option for homes.
Challenges: Lack of skilled workforce for PV installation and maintenance
PV installation necessitates a diverse range of trained personnel, from Ph.D. level scholars in R&D to technicians requiring specific training and certification, as well as a vast range of other specialists who support all areas of the PV sector.
The industry lacks sufficient qualified installers to manage the installation of this technology, and the availability of adequately competent people has been one of the most significant hurdles in the PV sector. End-users, on the other hand, require recognized standards, quality assurance, and competence certification throughout the whole development phase of a PV installation.
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North America Is Expected To Grow With the Highest CAGR during the Forecast Period
North America is frequently considered the area controlling the global Photovoltaic Software market. Several reasons contribute to its dominant position in this sector. North America has cutting-edge healthcare infrastructure, with huge networks of hospitals, clinics, and academic medical institutions outfitted with sophisticated imaging technology and nuclear medicine facilities.
This infrastructure enables the widespread use of nuclear medicine techniques for diagnostic imaging, treatments, and medical research, resulting in increased demand for radiopharmaceuticals and Photovoltaic Software services.
Segmentation of Photovoltaic Software Market-
By Type-
Diagnostic Nuclear Medicine
o SPECT Radiopharmaceuticals
Tc-99m
1-123
Tl-201
Ga-67
Other SPECT Isotopes
o PET Radiopharmaceuticals
F-18
Rb-82
Other PET Isotopes
Therapeutic Nuclear Medicine
o Alpha Emitters
Ra-223
o Beta Emitters
1-131
Y-90
Sm-153
Lu-177
Re-186
Other Beta Emitters
Brachytherapy Isotopes
o 1-125
o Ir-192
o Pd-103
o Cs-131
o Other Brachytherapy Isotopes
By Application-
Diagnostic Applications
o SPECT Applications
Cardiology
Bone Scans
Thyroid Applications
Pulmonary Scans
Other SPECT Applications
PET Applications
o Oncology
o Cardiology
o Neurology
o Other PET Applications
Therapeutic Applications
o Thyroid Indications
o Bone Metastasis
o Lymphoma
o Endocrine Tumors
o Other Indications
By Region-
North America-
The US
Canada
Mexico
Europe-
Germany
The UK
France
Italy
Spain
Rest of Europe
Asia-Pacific-
China
Japan
India
South Korea
South East Asia
Rest of Asia Pacific
Latin America-
Brazil
Argentina
Rest of Latin America
Middle East & Africa-
GCC Countries
South Africa
Rest of Middle East and Africa
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Insight Ace Analytics
Diana Dsouza
+1 551 226 6109
diana.dsouza@insightaceanalytics.com
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