Solar Flower Market: Introduction
- Solar flower is an all-in-one ground-mounted solar system with a tracker that follows the sun
- It uses advanced robotics and automation to intelligently track the sun, making up to 40% more energy than traditional stationary solar panels. Furthermore, every day at sunset, solar flower automatically folds up and cleans itself to maintain peak solar utilization.
- Solar flower offers several unique features such as self-cleaning function
Key Drivers and Restraints of Solar Flower Market
- Increase in awareness about the usage of solar energy and favorable initiatives toward promotion of renewable energy are major factors driving the global solar flower market
- Solar flower offers unique features that distinguishes it from other solar panel systems. It has a self-cleaning function, which ensures that dirt or other grime on the panels do not cause reduced energy production. Installation of the system takes just two to three hours, and disassembly is similarly easy. This is boosting the solar flower market.
- Implementation of stringent regulations to support environmental conservation is prompting the power industry to shift to clean and eco-friendly energy resources. Furthermore, the cost of electricity generated using solar energy is expected to decline in the near future owing to technological developments. This is anticipated to create lucrative opportunities for the solar flower market in the near future.
- High initial investments and lack of skilled professionals are major factors restraining the global solar flower market.
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Schools & Universities Application Segment to Offer Significant Opportunities for Global Solar Flower Market
- The global solar flower market can be segmented based on connectivity, application, and region
- In terms of connectivity, the global market can be bifurcated into on-grid and off-grid. The off-grid segment is estimated to expand at a faster CAGR during the forecast period.
- Based on application, the global solar flower market can be classified into residential areas, schools & universities, recreational parks, mountainous regions, and others. The schools & universities segment is projected to expand at a rapid pace during the forecast period, owing to the large-scale installation of solar flowers in universities based in the U.S. and Europe.
North America to Hold Major Share of Global Solar Flower Market
- Based on region, the global solar flower market can be divided into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa
- North America dominated the global solar flower market in 2018. This trend is likely to continue during the forecast period. Growth in investment in solar installation is the key factor expected to boost the market in the region in the near future.
- The U.S. dominated the solar flower market in North America in 2018. In August 2018, Virginia Wesleyan University became one of the first universities in the country to install the SmartFlower, a new type of solar paneling system.
- Asia Pacific is another important region of the global solar flower market. The market in the region is anticipated to expand at a prominent CAGR during the forecast period. In terms of revenue, China, India, Japan, Bangladesh, and Indonesia are key contributors to the solar flower market in Asia Pacific. High demand for electricity and low electric grid connectivity in Asia Pacific are driving the solar flower market in the region. Furthermore, supportive government schemes for renewable energy are fueling the market in the region.
- Europe is estimated to contribute significantly to the global solar flower market during the forecast period
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Key Players in Global Solar Flower Market
The global solar flower market is highly concentrated, with the top manufacturers accounting for approximately 40% to 45% share. SmartFlower is a key player operating in the global solar flower market.
- In September 2019, SmartFlower launched its new integrated battery storage system, the Smartflower +Plus, at Solar Power International (SPI), a solar power conference, in Utah, the U.S. The Smartflower +Plus is a self-contained solar energy system with 5.5 kWh of battery storage and is fully integrated. The inverter for the Smartflower +Plus can work in both on- and off-grid situations. It an external generator input, and a built-in internal transfer switch that provides safe integration for grid-connected applications.
Global Solar Flower market: Research Scope
Global Solar Flower market, by Connectivity
Global Solar Flower market, by Application
- Residential Areas
- Schools & Universities
- Recreational Parks
- Mountainous Regions
Global Solar Flower market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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
- 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.
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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?
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