Space-Based Solar Power Market to Reach $2.23 Billion by 2035
Space-based solar power systems could become a $2.23 billion global market by 2035 as development advances in orbital photovoltaic equipment and wireless energy transmission, according to a new report from Dimension Market Research.
The forecast reflects growing work on technologies intended to collect solar energy in space and transmit it to Earth or other locations. The research firm said progress in space-grade photovoltaics, artificial intelligence and modular system designs is supporting the sector’s expected expansion.
Space-based solar power concepts generally involve satellites or other orbital platforms equipped with solar arrays, with the collected energy converted and transmitted wirelessly to receiving infrastructure. The technology remains an emerging field, and the report did not provide details in the supplied summary on current market size, adoption levels or specific commercial projects.
Dimension Market Research characterized the sector as entering a stronger growth phase, citing technology improvements as a key factor behind its outlook through 2035.