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Solar Photovoltaic Services Market size is set to grow by USD 24.32 billion from 2024-2028, Increasing new installations and aging asset base of solar PV modules to boost the market growth, Technavio

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NEW YORK, June 24, 2024 /PRNewswire/ — The global solar photovoltaic services market  size is estimated to grow by USD 24.32 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  18.69%  during the forecast period.  Increasing new installations and aging asset base of solar pv modules is driving market growth, with a trend towards developments related to solar pv modules. However, challenges associated with recycling of scrap from solar pv systems  poses a challenge. Key market players include ABB, Acciona SA, Amana Contracting and Steel Buildings LLC, Anesco Ltd., Avi Solar Energy Pvt Ltd., Canadian Solar Inc., ENcome Energy Performance GmbH, First Solar Inc., GCL System Integration Technology Co. Ltd., Hanwha Corp., JA Solar Technology Co. Ltd., Jiangsu Shunfeng Photovoltaic Technology Co. Ltd., JinkoSolar Holding Co. Ltd., LONGi Green Energy Technology Co. Ltd., Risen Energy Co. Ltd., RWE AG, Sharp Corp., SunPower Corp., Trina Solar Co. Ltd., and Wuxi Suntech Power Co. Ltd..

Get a detailed analysis on regions, market segments, customer landscape, and companies – Click for the snapshot of this report

Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Service (Installation services and O and m services) and Geography (APAC, Europe, North America, Middle East and Africa, and South America)

Region Covered

APAC, Europe, North America, Middle East and Africa, and South America

Key companies profiled

ABB, Acciona SA, Amana Contracting and Steel Buildings LLC, Anesco Ltd., Avi Solar Energy Pvt Ltd., Canadian Solar Inc., ENcome Energy Performance GmbH, First Solar Inc., GCL System Integration Technology Co. Ltd., Hanwha Corp., JA Solar Technology Co. Ltd., Jiangsu Shunfeng Photovoltaic Technology Co. Ltd., JinkoSolar Holding Co. Ltd., LONGi Green Energy Technology Co. Ltd., Risen Energy Co. Ltd., RWE AG, Sharp Corp., SunPower Corp., Trina Solar Co. Ltd., and Wuxi Suntech Power Co. Ltd.

Key Market Trends Fueling Growth

The Solar Photovoltaic Services Market is experiencing significant growth due to advancements in solar PV technology. Mono PERC and bifacial modules, which offer higher efficiency and conversion rates, are gaining popularity. Bifacial modules generate power from both sides, reducing balance of system costs and increasing power output by one-third. Advanced PERC technology integrates anti-light-induced degradation and passivation films, increasing efficiency and reducing costs. Half-cut cell modules, which reduce resistance loss and increase efficiency, are also on the rise. These innovations are driving market growth, making solar energy more cost-effective and efficient. 

The Solar Photovoltaic (PV) services market is experiencing significant growth, with increasing demand for solar power solutions. Markets are shifting towards solar power projects, particularly in the residential and commercial sectors. In 2022, the solar PV market size was estimated to be 600 billion dollars, with projections for continued growth. Key technologies include solar cells, solar panels, and solar inverters. Renewable energy technologies, such as solar, are becoming more cost-effective and efficient, making them a popular choice for businesses and individuals looking to reduce their carbon footprint. The market is also seeing advancements in energy storage solutions, allowing for greater grid independence and improved energy management. Solar PV is a trending industry, with many companies investing in research and development to improve efficiency and reduce costs. 

Research report provides comprehensive data on impact of trend. For more details- Download a Sample Report

Market Challenges

The solar photovoltaic services market faces challenges due to the growing amount of solar PV scrap. With no standards for safe disposal, toxic materials like cadmium and lead pose risks to the environment if not handled properly. Damaged modules, often containing these hazardous substances, can contaminate soil and water if disposed of in landfills. Natural disasters can also damage modules, leading to additional costs for hazardous waste treatment. Manufacturers may pass these costs onto consumers, hindering market growth, particularly in countries lacking waste management infrastructure. Proper disposal solutions are crucial to mitigate these risks and ensure the continued adoption of solar PV technology.The Solar Photovoltaic Services Market faces several challenges. Capacity expansion and technology upgrades are key areas of concern. The industry requires significant investment in research and development to improve efficiency and reduce costs. Regulations and policies also impact the market, with technologies like thin-film solar and silicon solar having different regulatory requirements. The integration of solar power into the grid is another challenge, requiring solutions for energy storage and grid management. Additionally, the intermittency of solar power necessitates the use of predictive analytics and smart grids to ensure a consistent power supply. The market is dynamic, with new players and technologies constantly emerging.

For more insights on driver and challenges – Download a Sample Report

Segment Overview 

This solar photovoltaic services market report extensively covers market segmentation by

Service 1.1 Installation services1.2 O and m servicesGeography 2.1 APAC2.2 Europe2.3 North America2.4 Middle East and Africa2.5 South America

1.1 Installation services-  The Solar Photovoltaic Services Market is experiencing significant growth due to increasing demand for renewable energy sources. Companies are offering installation, maintenance, and repair services for solar photovoltaic systems. These services ensure optimal system performance and energy efficiency. The market is driven by government incentives, technological advancements, and decreasing costs. Businesses and homeowners are investing in solar energy to reduce their carbon footprint and save on energy bills. The market is expected to continue expanding as more countries adopt renewable energy policies.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2018 – 2022)  – Download a Sample Report

Research Analysis

The Solar Photovoltaic Services Market is experiencing significant growth, driven by the increasing adoption of renewable technologies such as Solar PV in the global energy mix. The Indian government’s Solar Policy 2022 aims to install an additional 6,000 MW of solar power capacity, with a focus on distributed solar power through rooftop solar panels. This includes the development of bonded warehouses spanning 100,000 square meters to facilitate the storage and trading of solar power. The installation costs for solar PV systems continue to decrease, making them increasingly competitive with traditional electricity sources. The South-Central Section of the electricity grid is expected to see significant growth in solar PV capacity, with the electricity grid infrastructure undergoing necessary upgrades to accommodate the intermittent nature of solar power. The integration of solar power into the electricity grid involves the use of photovoltaic cells, which convert sunlight into electrons through the movement of silicon atoms. Renewable technologies such as wind and bioenergy are also contributing to the energy mix, with solar PV playing a key role in the transition towards a more sustainable energy future.

Market Research Overview

The Solar Photovoltaic Services Market refers to the industry dedicated to the design, installation, and maintenance of solar photovoltaic (PV) systems. These systems convert sunlight into electricity, making them an essential component of renewable energy solutions. The market is experiencing significant growth due to increasing global awareness of sustainable energy sources and government incentives. Solar PV services include system design, site assessment, installation, commissioning, and ongoing maintenance and repair. The market is segmented based on geography, system size, and application. The use of advanced technologies, such as thin-film and monocrystalline silicon, is driving innovation in the sector. The market is expected to continue growing due to the increasing demand for clean energy and the declining cost of solar PV technology.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ServiceInstallation ServicesO And M ServicesGeographyAPACEuropeNorth AmericaMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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Phase Two of Tech4Nature Jaguar Protection Project Launched in Mexico

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MERIDA, Mexico, April 14, 2025 /PRNewswire/ — At the recent 2025 Tech4Nature Summit, Huawei, International Union of Conservation for Nature (IUCN), and local partners launched Phase Two of the Mexico Tech4Nature project, which aims to strengthen the protection of jaguars in Dzilam de Bravo State Reserve and study the effects of climate change on biodiversity. 

Alongside Huawei and IUCN, the launch was officiated by Mexico’s Ministry of Environment and Natural Resources, the State Government of Yucatán, and local partner C-Minds.

“In Mexico, 42% of our country’s ecosystems face some degree of degradation that we have to work towards solving. This involves monitoring and a lot of restoration work, but it also means something more important, which is precisely what we’re seeing thanks to this alliance,” said Dr. Marina Robles García, Undersecretary of Biodiversity and Environmental Restoration for the Ministry of Environment and Natural Resources in Mexico.

Aligned with Huawei’s TECH4ALL initiative and the IUCN Green List, Tech4Nature is a global partnership launched by Huawei and IUCN in 2020 to scale up success in nature conservation through technological innovation.

“Today we celebrate a shared vision, a vision that understands that conservation can no longer depend solely on good intentions or isolated policies. We need science, technology, empowered communities, and committed governments,” said Joaquín Díaz Mena, Governor of Yucatán in Mexico, at the 2025 Tech4Nature Summit.

Due to habitat loss and fragmentation, the jaguar is classified as Near Threatened on the IUCN Red List. To contribute to its conservation, the first phase of the project installed 60 audio devices and more than 20 camera traps in Dzilam de Bravo State Reserve. Using trained AI models, the system is able to recognize the vocalizations and images of species that inhabit the reserve. By April 2025, the solution had identified a total of 147 species and confirmed the presence of nine jaguars in the territory.

The second phase of the project focuses on gathering data about the distribution of jaguar populations, and providing data-driven insights to support decision-making and improve reserve management with a view to creating a biological corridor.

The 2025 Tech4Nature Summit brought together experts, scientists, and conservation leaders from around the world to share advances and strategies in technology-driven nature conservation.

“Digital technology is making biodiversity conservation much more efficient and helping governments and conservationists take faster, more targeted action,” said Tao Jingwen, Director of the Board and Director of the Corporate Sustainable Development Committee for Huawei. “I want to call on more of our partners to join the Tech4Nature initiative to make digital technology a common tool for global ecosystem conservation.”

As well as Mexico, the summit explored Tech4Nature Phase Two projects in Brazil, China, Spain, Kenya, and Türkiye, showcasing how digital technologies and AI analytics can be adapted to the specific needs of diverse ecosystems.

“Building on our momentum so far, we look forward to the second phase of this partnership with great anticipation. This new chapter will address six countries, promoting transformative change for species, ecosystems, and their communities,” said Úrsula Parrilla, Director, Regional Office for Mexico, Central America and the Caribbean (ORMACC) for IUCN. “By integrating technology into large-scale conservation, we contribute to global goals that seek to put nature at the center of decision-making for sustainable development.” 

Tech4Nature phase two projects

Brazil will study the impact of climate change on Marajó Island and monitor the mangrove crab as an indicator of ecosystem health.

China uses networked digital solutions and AI analytics to track and support the repopulation of the world’s rarest primate, the Hainan gibbon, just 42 of which remain in existence.

Spain aims to protect the Bonelli’s eagle in Sant Llorenç del Munt i l’Obac Natural Park by using digital technologies to analyze the impact of park visitors on the eagles’ reproductive success.

Kenya aims to improve monitoring in protected marine areas and coral reef in Kisite-Mpunguti Marine National Park and Reserve to help tackle issues such as illegal fishing and pressure from tourism, and monitor the parrot fish, which helps coral survive.

Türkiye represents a pioneering collaboration between NGOs, the private sector, and the government to evaluate biodiversity protection, with a focus on large mammals, including the fallow deer and wild goat in two pilot sites.

The 2025 Tech4Nature Summit attested to how collaboration between the technology sector, NGOs, governments, academic institutions, and local communities has created a new paradigm for protecting biodiversity and ecosystems.

About TECH4ALL

TECH4ALL is Huawei’s long-term digital inclusion initiative and action plan. Enabled by innovative technologies and partnerships, TECH4ALL is designed to enable inclusion and sustainability in the digital world.

Visit the Huawei TECH4ALL website at https://www.huawei.com/en/tech4all .

Follow us on X at https://x.com/HUAWEI_TECH4ALL

Learn more about Tech4Nature: https://www.huawei.com/en/tech4all/stories/tech4nature-technology-nature-conservation.

Photo – https://mma.prnewswire.com/media/2663274/iMAGE1.jpg

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ASUS IoT Announces 2025 AIoT Partner Alliance Event

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Leading innovators converge in Prague to shape the future of AIoT

KEY POINTS

Strategic collaboration: ASUS IoT gathers global partners in Prague to advance AIoT and smart citiesCutting-edge solutions: Prestige partners showcase AI-driven innovations in AV, fleet management and industrial automationResilient innovation: Driving AIoT growth through long-term partnerships and smart technologies

SINGAPORE, April 14, 2025 /PRNewswire/ — ASUS IoT, the global AIoT solution provider, today announced its annual AIoT Partner Alliance Event in Prague, Czech Republic, taking place from April 9–11, 2025. The event will bring together more than 100 partners across Europe to engage in the co-winning approach to showcase innovative solutions focusing on smart cities.

ASUS IoT has established strong partnerships with industry leaders in the smart city ecosystem. In Czechia, ASUS IoT is working closely with the local government to accelerate smart city, robotics, and AI deployment.

Petr Ocko, Deputy Minister of Ministry of Trade and Industry of the Czech Republic observed that: “Digitalization and smart cities belong among the most important priorities for the Czech Republic. We invite technology companies from around the world to assist us in achieving this goal and we create an attractive environment for these investors in the Czech Republic. I know that ASUS is renowned for its commitment and expertise in the AIoT field, and we fully support deepening our collaboration in advanced city management and operation, and more.”

“We are excited to showcase our ubiquitous AI possibilities in smart city solutions,” said Jackie Hsu, ASUS SVP and Co-Head of the Open Platform Business Group and AIoT Business Group. “Despite current political and economic challenges, we maintain business resilience and jointly discover business opportunities with our partners, thus reflecting the ASUS core values of innovation and long-term commitment to AIoT development.”

Empowering AIoT innovation through strategic partnerships

The AIoT Partner Alliance Event will act as a hub for industry experts to share knowledge and collaborate. Participants will have the chance to delve into the latest AIoT technology advancements and observe their effects across different sectors. The event will include keynote speeches and panel discussions, offering valuable insights into the future of AIoT.

The AIoT Partner Alliance Event will also feature key partners who have played a significant role in the successful development of a wide range of solutions created by ASUS IoT.

Partners include Cabolo, which will demonstrate its intelligent AV machine with offline and secure AI for law enforcement and AI transcription, leveraging ASUS NUC. Oring Networking will showcase its smart-grid technology, while Everfleet by Macnica Inc will spotlight its fleet-management platform leveraging the ASUS IoT PE1102N edge AI computer powered by NVIDIA® Jetson. Antra ID will present its cutting-edge manufacturing-process-inspection solution that integrates a computer-vision solution created by ASUS IoT, called AISVision, and the PE4000G edge AI computer.

For more information, please visit https://iot.asus.com.

About ASUS IoT

ASUS IoT is a sub-brand of ASUS dedicated to the creation of incredible solutions in the fields of AI and IoT. Our mission is to become a trusted provider of embedded systems and a partner in the AIoT solutions ecosystem. ASUS IoT strives to deliver best-in-class products and services across diverse vertical markets – providing convenient and efficient environments for people everywhere.

About ASUS

ASUS is a global technology leader that provides the world’s most innovative and intuitive devices, components, and solutions to deliver incredible experiences that enhance the lives of people everywhere. With its team of 5,000 in-house R&D experts, the company is world-renowned for continuously reimagining today’s technologies. Consistently ranked as one of Fortune’s World’s Most Admired Companies, ASUS is also committed to sustaining an incredible future. The goal is to create a net zero enterprise that helps drive the shift towards a circular economy, with a responsible supply chain creating shared value for every one of us.

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SOURCE ASUS

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MEXC Celebrates 7 Years of Innovation as Title Sponsor at Dubai’s Premier Crypto Event TOKEN2049

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VICTORIA, Seychelles, April 14, 2025 /PRNewswire/ — MEXC, a global leader in cryptocurrency exchange services, will proudly participate as one of the seven exclusive Title Sponsors at TOKEN2049 Dubai, taking place from April 29 to May 1, 2025, at the prestigious Madinat Jumeirah. This premier industry event coincides with MEXC’s milestone 7th Anniversary, providing an ideal platform to showcase the exchange’s continued commitment to innovation and user-centric solutions.

Leading the Way in Crypto Accessibility

As TOKEN2049 Dubai prepares to welcome 15,000 attendees from over 4,000 companies worldwide, MEXC will demonstrate why it has become the preferred platform for 36 million users across 170+ countries. Under the brand promise “Your Easiest Way to Crypto,” MEXC has consistently delivered a trading experience that is fast, economical, and user-friendly.

Visitors to MEXC’s booth will discover why the platform has earned its reputation for accessibility and innovation. The exchange offers a broad selection of trending tokens, regular airdrop opportunities, and competitive trading fees within a secure and efficient environment designed to meet the needs of both newcomers and experienced traders.

Celebrating 7 Years of Growth with Global Campaign and Exclusive Announcements

TOKEN2049 Dubai provides the perfect backdrop for MEXC to commemorate its 7th anniversary — a journey marked by consistent growth, technological advancement, and an unwavering focus on user satisfaction. From its founding in 2018, MEXC has evolved into one of the industry’s most trusted exchanges, known for its liquidity strength and comprehensive service offerings.

Tracy Jin, Chief Operating Officer of MEXC, who will be joining a panel at the mainstage, expressed enthusiasm about the upcoming event: “Our 7th anniversary represents a significant milestone in MEXC’s evolution from a startup to a global leader serving over 36 million users. We’re particularly excited to use TOKEN2049 Dubai as a platform to unveil several major announcements that will shape the future of our exchange and bring even more value to our users. The crypto community can expect groundbreaking new features and partnerships that reflect our commitment to continuous innovation.”

As part of the celebration, MEXC has launched a global anniversary campaign featuring a massive 10,000,000 USDT prize pool. The campaign, running from April 13 to May 7, 2025, invites users to participate in three exciting arenas: Team PNL Rate Competition, Collect, Assemble & Win, and Solo Leaderboard Battle. These competitive events offer opportunities for both individuals and teams to showcase their trading skills while earning substantial rewards, reinforcing MEXC’s commitment to community engagement and user empowerment.

As part of the anniversary celebrations, MEXC will also host special events including the “Celebra7eMEXC Party” on April 30th and an exclusive yacht experience for select partners on May 1st. These gatherings will provide valuable networking opportunities while highlighting MEXC’s appreciation for its global community of users and partners.

Revolutionary DEX+ Platform: Bridging Centralized and Decentralized Trading

The spotlight on MEXC’s TOKEN2049 presence will be on its DEX+ platform, launched in March 2025. This innovative hybrid solution seamlessly integrates centralized and decentralized trading capabilities, allowing users to access over 15,000 tokens across the Solana and BNB Chain ecosystems without leaving the familiar MEXC interface.

DEX+ represents a significant advancement in trading technology, enhancing user experience while expanding MEXC’s appeal to on-chain trading enthusiasts. By eliminating the traditional barriers between centralized and decentralized exchanges, MEXC continues to drive innovation that serves the evolving needs of the global crypto community.

Connect with MEXC at TOKEN2049 Dubai

TOKEN2049 Dubai attendees are encouraged to visit MEXC’s booth to explore the platform’s features, learn about the revolutionary DEX+ technology, and discover special promotions available exclusively during the event. As a special highlight of the 7th-anniversary celebration, MEXC will showcase a collection of seven limited-edition commemorative merchandise items, attractively displayed and available for visitors at the booth. MEXC representatives will be available throughout the conference to provide demonstrations, answer questions, discuss potential partnerships, and help attendees acquire these exclusive anniversary items.

TOKEN2049 Dubai presents an extraordinary opportunity for industry professionals and crypto enthusiasts to experience firsthand the innovations that have established MEXC as a leading exchange. Whether exploring cryptocurrency for the first time or seeking advanced trading solutions, visitors to MEXC’s booth will find knowledgeable representatives ready to demonstrate the platform’s capabilities and explain why MEXC continues to be “Your Easiest Way to Crypto” for millions of users worldwide.

About MEXC

Founded in 2018, MEXC is committed to being “Your Easiest Way to Crypto.” Serving over 36 million users across 170+ countries, MEXC is known for its broad selection of trending tokens, everyday airdrop opportunities, and low trading fees. Our user-friendly platform is designed to support both new traders and experienced investors, offering secure and efficient access to digital assets. MEXC prioritizes simplicity and innovation, making crypto trading more accessible and rewarding.

MEXC Official Website | X | Telegram | How to Sign Up on MEXC

Risk Disclaimer:

The information provided in this article regarding cryptocurrencies does not constitute investment advice. Given the highly volatile nature of the cryptocurrency market, investors are encouraged to carefully assess market fluctuations, the fundamentals of projects, and potential financial risks before making any trading decisions.

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