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The global Pico Solar market size will grow by 158.2 MW during 2019-2023 at a CAGR of over 15%. The rising demand for energy and the rapid growth in the adoption of portable devices are a few of the factors expected to drive market growth during the forecast period. The report provides a detailed analysis of the market by application (multi-purpose & single-purpose) and geography (MEA and ROW). Also, the report analyzes the competitive landscape and offers information on several companies, including Greenlight Planet Inc., M-KOPA SOLAR Kenya Ltd., Panasonic Corp., Signify NV, and Yingli Green Energy Holding Co. Ltd.
Pico Solar systems are used to power lanterns and low-power gadgets such as mobile phones and radios. Pico Solar is a solar photovoltaic (PV) system and has a power output that ranges up to a peak capacity of 10 watts.
Key Insights from Pico-Solar Market Report - Global Forecast 2019-2023
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The rising demand for energy is one of the primary factors driving the growth of the Pico Solar market size. The sustainable development goal (SDG) 7.1 has been aiming at ensuring universal access to affordable, reliable, and modern energy services by 2030. However, there is a lag in efforts in accomplishing the same. The majority of the population in Sub-Saharan Africa (SSA) do not have access to electricity. In Asia also some countries have been facing issues in accessing reliable electricity. As a result, there is a rising focus on off-grid renewable energy solutions such as Pico Solar in the regions. Pico Solar is a viable, electrification solution. It is rapidly scalable and environmentally sustainable. Furthermore, it holds the potential to empower rural communities. These factors are expected to drive the growth of the Pico Solar market over the forecast period.
Upcoming Pico Solar market trends such as the rapid growth in the adoption of portable devices will also contribute to the growth of the market. The use of portable gadgets such as smartphones, tablets, and e-readers has become ubiquitous. The vendors of these devices are focusing on engineering products that can be charged using renewable energy systems such as Pico Solar systems. Charging mobile phones, lanterns, and torches using Pico Solar in remote areas with poor electricity access is gaining traction. These devices use small amounts of energy. Therefore, the number of portable devices with integrated solar module and rechargeable in-built batteries is increasing. The rising need for charging efficiency in portable devices and their increasing sales will positively influence the growth of the market in focus. As a result of these factors, the market will register over 15% CAGR during 2019-2023.
Quantitative Data
PART 01: EXECUTIVE SUMMARY PART 02: SCOPE OF THE REPORT
PART 03: MARKET LANDSCAPE
PART 04: MARKET SIZING
PART 05: FIVE FORCES ANALYSIS
PART 06: MARKET SEGMENTATION BY APPLICATION
PART 07: CUSTOMER LANDSCAPE PART 08: GEOGRAPHIC LANDSCAPE
PART 09: DECISION FRAMEWORK PART 10: DRIVERS AND CHALLENGES
PART 11: MARKET TRENDS
PART 12: VENDOR LANDSCAPE
PART 13: VENDOR ANALYSIS
PART 14: APPENDIX
PART 15: EXPLORE TECHNAVIO Safe and Secure SSL Encrypted
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Pico-Solar Market by Application and Geography - Global Forecast 2019-2023
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