A pico-solar system is defined as a small PV system that is far smaller than typical household systems. Its power output ranges from 1 to 10W, and it is primarily used for lighting, making it capable of displacing unsafe and unstable sources like kerosene lamps and candles. Portable products like tiny lights, toys, mp3 players, cell phones, calculators, and tablets, among others, can employ pico-solar systems. Depending on the model, smaller ICT applications might also be introduced. Pico solar systems include a rechargeable battery, a photovoltaic module, and a charge controller.
MARKET DYNAMICS
The growing need for energy is one of the primary drivers of the pico-solar industry's expansion. By 2030, all people should have access to reasonably priced, secure, and effective energy services, according to the Sustainable Development Goals (SDG). However, attempts to duplicate this are on hold. Pico-solar is a practical electrification technique. It is environmentally sustainable and quickly scalable. Additionally, it has the power to support rural communities. Over the course of the forecast period, it is anticipated that these factors will fuel the expansion of the pico-solar market.
MARKET SCOPE
The "Global Pico-Solar Market Analysis To 2028" is a specialized and in-depth study of the technology, media, and telecommunications industry with a special focus on global market trend analysis. The pico-solar market report aims to provide an overview of the pico-solar market with detailed market segmentation by application, end use, and geography. The global pico-solar market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading pico-solar market player and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global pico-solar market is segmented based on application, end use. Based on application, the pico-solar market is segmented into single use, multi purpose. Based on end use, the pico-solar market is segmented into residential, commercial, industrial.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global pico-solar market based on various segments. It also provides market size and forecast estimates from the year 2018 to 2028 with respect to five major regions, namely, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The pico-solar market by each region is later sub-segmented by respective countries and segments. The pico-solar market report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the pico-solar market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis highlighting factors affecting the pico-solar market in these regions.
IMPACT OF COVID-19 ON PICO-SOLAR MARKET
The sudden outbreak of the COIVD-19 pandemic negatively impacted the growth of the global pico-solar market. The supply chain disruptions influenced the decline in demand for pico-solar. Additionally, the stringent lockdown imposed by various government bodies across impacted the manufacturers of pico-solar thereby impacting the growth of the global pico-solar market.
MARKET PLAYERS
The reports cover key developments in the pico-solar market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from pico-solar market are anticipated to lucrative growth opportunities in the future with the rising demand for filter products in the global market. Below mentioned is the list of few companies engaged in the pico-solar market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the pico-solar market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Greenlight Planet Inc.
- Signify N.V.
- Panasonic Corp
- Yingli Green Energy Holding Co. Ltd
- REENASSETS.IN.
- Technology Exchange Lab, Inc.
- Solar Run Energy
- SolarLandAfrica.
- Fosera Solarsystems GmbH and Co. KGaA
- Ricoh