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Solar photovoltaic is a technology that converts solar energy into useful energy forms by absorbing solar photon (particles of light that operate as individual units of energy). Photovoltaic cell is also known as solar cell. Solar cell is an electrical device that translates light energy into electric energy or electricity using photovoltaic effect. Solar cell is a type of photoelectric cell which on exposure to light can produce and support an electric current without any external voltage source. However, it requires an external load for power consumption. Solar PV modules can be clustered together as an array of parallel or series connected modules to give any level of power requirements, from mere watts to kilowatt and megawatt size. Different types of solar cells are cadmium telluride solar cell, polycrystalline, hybrid solar cell, buried contact solar cell, dye-sensitized solar cell, plastic solar cell, thin film solar cell, monocrystalline solar cell, plasmonic solar cell, and polymer solar cell among others.
 
CPV (concentrated photovoltaic) technology employs optics such as curved mirrors or lenses to collect large amount of sunlight on a small area of solar photovoltaic (PV) cells in order to generate electricity. CPV systems offer several advantages over non-concentrated photovoltaics. As a smaller area of photovoltaic material is required, CPV can save money on the cost of the solar cells. CPV requires less photovoltaic material to capture the same sunlight as non-concentrating PV. CPV make use of high-efficiency but expensive multi-junction cells cost-effectively viable due to smaller space requirements. However, in order to get sunlight focused on the small photovoltaic area, CPV systems need extra spending on solar trackers, concentrating optics (mirrors or lenses) and cooling systems. Owing to this of these extra costs, CPVs are far less common compared to non-concentrated photovoltaics. Nevertheless, ongoing research and development is trying to improve CPV technology and lower its costs.
 
The most widespread segmentation of CPV modules can be done on the basis of degree of concentration, which can be expressed in number of suns. Different types of CPVs are LCPV (low concentration photovoltaics), medium concentration photovoltaics, HCPV (high concentration photovoltaics) and luminescent solar concentrators.
 
According to Plastics Institute of America, Europe is expected to remain the largest regional market with 16.48 GW of PV demands which accounts around half of the global demand. Asia-Pacific was the second largest market fueled by the remarkable growth of the Chinese market. China is expected to outpace Germany in the coming year in order to become the leading PV consumer. Government renewable targets, financial incentives, technology cost reductions are three major forces who are currently driving the adoption of solar across the globe. Government policies are considerable drivers for solar photovoltaic market. By 2020, solar is predicted to be cost competitive to traditional electricity, independent of government policies and subsidies across most of the world. 
 
Some of the key players in this market are BP Solar International, Opel International Inc., Emcore Corporation, Prism Solar Technologies, Inc., Bloo Solar, Solar Tec International AG, HelioVolt Corporation, Zytech Solar, Energy Innovations, Solar Systems PTY, Ltd., Concentrix Solar GmbH, 1366 Technologies Inc., Pyron Solar, Whitfield Solar Ltd., Abengoa Solar, Arima Ecoenergy, Konarka Technologies Inc., Amonix Inc., 3G Solar, Pacific Solartech Inc., Greenvolts, JX Crystals, Everphoton Energy Corporation, Soliant Energy Inc., Cool Earth Solar, Nano Solar, SunFlake A/S, and others.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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