Inverter Market Size to Reach 338 Billion at a 157 CAGR by 2027 Report by MarketsandMarkets

Chicago, April 05, 2023 (GLOBE NEWSWIRE) — Inverter Market size is projected to grow from USD 16.3 billion in 2022 to USD 33.8 billion by 2027, at a CAGR of 15.7% according to a new report by MarketsandMarkets™. The increase investments in the renewable energy sector and the government initiatives supporting the solar installations is expected to drive the demand for global Inverter market. With the increasing demand for solar power, various technological developments are taking place in the inverter market. Remote and wireless diagnostics, smart grid-tied inverters, and predictive maintenance are important technological innovations that can revolutionize the inverter…