Micro-inverter Market by Type, Offering, Communication Technology by GMS
The Micro-Inverter Market is forecasted to grow significantly, with its value expected to increase from USD 4.5 billion in 2024 to approximately USD 9.8 billion by 2029, representing a CAGR of 16.5% during the forecast period. Micro-inverters, used in photovoltaic (PV) systems, convert direct current (DC) from solar panels into alternating current (AC) for electrical grids or home use. Unlike traditional string inverters, micro-inverters function independently with each solar panel, offering benefits such as better energy harvest, enhanced safety, and easier system design.