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According to Stratistics MRC, the Global Solar Micro Inverter market is growing at a CAGR of 17.2% from 2016 to 2023. Increasing demand for solar power and usage of data analytics are the key factors driving the market growth. Whereas high initial investment required for installation is hampering the market growth. Among applications, residential applications held the largest market share owing to decrease in the cost of electricity bill. Urban consumers segment accounted for the highest market share because of increasing awareness among the consumers on solar power. North America accounted for the highest market share as adoption rate is high compared to other regions. The Asia Pacific region is expected to grow at a higher CAGR and is anticipated to account for the highest market share during forecast period.
Some of the key players in the market include Alencon Systems, LLC, Altenergy Power System, Inc, Ampt, LLC, Array Power, Chilicon Power, LLC, Delta Energy Systems, Enphase Energy, i-Energy Co., Ltd, KACO New Energy, Inc, Petra Systems, Solantro, SolarEdge Technologies, Inc, Sparq Systems, SunPower Corporation and Tigo Energy.
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Rest of Europe
Rest of Asia Pacific
Rest of the World
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