According to Cognitive Market Research, the global Power Optimizer market size will be USD 2814.5 million in 2024. It will expand at a compound annual growth rate (CAGR) of 11.50% from 2024 to 2031.
North America held the major market share for more than 40% of the global revenue with a market size of USD 1125.80 million in 2024 and will grow at a compound annual growth rate (CAGR) of 9.7% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 844.35 million in 2024 and will grow at a compound annual growth rate (CAGR) of 10.0% from 2024 to 2031.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 647.34 million in 2024 and will grow at a compound annual growth rate (CAGR) of 13.5% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 140.73 million in 2024 and will grow at a compound annual growth rate (CAGR) of 10.9% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 56.29 million in 2024 and will grow at a compound annual growth rate (CAGR) of 11.2% from 2024 to 2031.
The On-grid category is the fastest growing segment of the Power Optimizer industry
