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Rooftop Solar PV Market to Reach $89.8 billion, Globally, by 2032 at 5.8% CAGR: Allied Market Research

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Allied Market Research published a report, titled, “Rooftop Solar PV Market by Deployment (Terrace Mounted and Pole Mounted), Technology (Thin Film and Crystalline Silicon), Grid Type (Off-Grid and Grid Connected), and End-Use (Residential, Commercial, and Industrial): Global Opportunity Analysis and Industry Forecast, 2023-2032″. According to the report, the “Rooftop Solar PV market” was valued at $51.2 billion in 2022, and is estimated to reach $89.8 billion by 2032, growing at a CAGR of 5.8% from 2023 to 2032.
Download PDF Brochure: https://www.alliedmarketresearch.com/request-sample/A124759
Prime determinants of rooftop solar PV market growth
The global rooftop solar PV market is experiencing growth due to several factors such as a growing adoption of rooftop solar PV, supporting government initiatives towards zero carbon emissions, and shift towards sustainable energy. However, high initial investment cost hinders the market growth. Moreover, demand for clean energy resources, tax incentives, and green subsidies provide opportunities for expansion in the rooftop solar PV market.
Report coverage & details:

Report Coverage

Details

Forecast Period

2023–2032

Base Year

2022

Market Size in 2023

$51.2 billion

Market Size in 2032

$89.8 billion

CAGR

5.8 %

No. of Pages in Report

225

Segments Covered

Deployment, Technology, Grid Type, End-Use, and Region

Region Scope

North America, Europe, Asia-Pacific, and LAMEA

Country Scope

U.S., Canada, Mexico; Germany; UK; France; Italy; Spain; China; Japan; India; South Korea; Australia; Brazil; Saudi Arabia; South Africa.

Drivers

Adoption of rooftop solar PV
Supporting government initiatives towards zero carbon emissions
Shift towards sustainable energy

Opportunity

Demand for clean energy resource
Tax incentives and green subsidies

Restraint

High initial investment cost

The pole mounted segment is expected to grow faster during the forecast period.
By deployment, the pole mounted segment held the highest market share in 2022, accounting for more than two-thirds of the rooftop solar PV market revenue, and is estimated to maintain its leadership status during the forecast period. Increase in the utilization of solar street lights and other emergency equipment on the road drives the demand for pole mounted solar PV market. However, the terrace mounted segment is projected to attain the highest CAGR of 6.2% from 2023 to 2032. Increase in government initiatives toward the development of rooftop solar power generation has a positive impact on the terrace mounted rooftop solar PV market.
The crystalline silicon segment is expected to lead the trail by 2032
By technology, the crystalline silicon segment held the highest market share in 2022, accounting for more than four-fifth of the rooftop solar PV market revenue, and is estimated to dominate during the forecast period. The dominance of crystalline silicon solar panels is mostly due to the cost-effectiveness and the presence of a well-established supply chain and manufacturing facilities over decades of commercialization have a significant impact on the market. However, the thin film segment is projected to attain the highest CAGR of 7.0% from 2023 to 2032, owing to its application in commercial buildings for power generation and other applications. Thin film solar panels are widely used as solar windows of commercial buildings for power generation. This manufacturing process allows for flexibility, lighter weight, and potentially lower production costs compared to crystalline silicon panels.
Procure Complete Report (225 Pages PDF with Insights, Charts, Tables, and Figures) @ https://www.alliedmarketresearch.com/checkout-final/rooftop-solar-pv-market
The grid connected segment to dominate the market during the forecast period
By grid type, the grid connected segment held the highest market share in 2022, accounting for more than four-fifths of the rooftop solar PV market revenue, and is estimated to dominate during the forecast period. Increase in awareness among governments and corporations towards the environment has led to increase in investment in renewable power generation utilities related to solar power generation, which has boosted the grid connected rooftop solar PV market.
However, the off-grid segment is projected to attain the highest CAGR of 6.2% from 2023 to 2032. Rapid growth of off-grid rooftop solar PV is mostly due to increase in government incentives to consumers for the installation of rooftop solar panels. In addition, the presence of rural areas and off-grid villages in developing countries has a high demand for rooftop solar panels for power generation, leading to rise in demand, which is expected to drive the rooftop solar PV market.
The industrial segment to dominate the market during the forecast period
By end-use, the industrial segment held the highest market share in 2022, accounting for more than two-fifths of the rooftop solar PV market revenue, and is estimated to dominate during the forecast period. Increase in demand for emergency backup power in the industrial building has led to the utilization of renewable power generation facilities such as rooftop solar power generation to power the instruments during the power outage, which boosted the industrial rooftop solar PV market.
However, the commercial segment is projected to attain the highest CAGR of 6.3% from 2023 to 2032. Rapid growth of rooftop solar PV is mostly due to increase in commercial infrastructure development in developing countries such as India, China, and Brazil, which has driven the installation of rooftop solar panels. In addition, the shift towards the sustainable power generation capability from the construction industries is expected to drive the rooftop solar PV market.
The Asia-Pacific segment to dominate the market by 2032
Region-wise, Asia-Pacific held the highest market share in 2022, accounting for more than half of the rooftop solar PV market revenue, and is estimated to dominate during the forecast period. The major developing countries in this region are investing in infrastructure heavily, which led to the demand for clean energy, leading to utilization of rooftop space for power generation. However, the Asia-Pacific segment is projected to attain the highest CAGR of 6.2% from 2023 to 2032.
For Purchase Inquiry: https://www.alliedmarketresearch.com/purchase-enquiry/A124759
Leading Market Players: –

Jinko Solar Holding Co. Ltd.
JA Solar Holdings Co. Ltd.
Trina Solar Co. Ltd.
LONGi Group
Canadian Solar Inc.
First Solar, Inc.
SunPower Corporation
Indosolar Ltd
Hanwha Q-cells
E-Ton Solar Tech Co., Ltd.

The report provides a detailed analysis of these key players in the rooftop solar PV market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
Trending Reports in Rooftop Solar PV Industry:
Rooftop Solar Photovoltaic (PV) Installation Market : Size, Share and Industry Forecast, 2021-2030
Building Integrated Photovoltaics (BIPV) Market : Share and Industry Forecast, 2021-2030
Solar PV Module Market : Opportunity Analysis and Industry Forecast, 2021-2030
Solar Photovoltaic (PV) Panel Market : Global Opportunity Analysis and Industry Forecast, 2021-2030
The post Rooftop Solar PV Market to Reach $89.8 billion, Globally, by 2032 at 5.8% CAGR: Allied Market Research appeared first on HIPTHER Alerts.

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Eddid ONE and Eddid ONE USA Expand Global Coverage

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Eddid Financial (“the Group”) announces that its intelligent trading application Eddid ONE and the premier US stock trading application Eddid ONE USA* have expanded their global coverage to 22 countries and regions. The apps are now officially launched on Google Play and App Store in respective markets, providing clients with advanced and convenient proprietary intelligent services.
The apps are now available in 22 key global markets across six continents, including Hong Kong, the United States, the United Kingdom, Australia, Taiwan and Japan. Going forward, expansion plans are in place to reach additional emerging markets as the Group continues building out its global network.
Eddid ONE and Eddid ONE USA* have long been favored by the market for their clean interface and versatile functions. Specifically, Eddid ONE includes AI assistants in addition to real-time market data, proprietary trading strategies, research reports etc., but also come with AI assistants. Utilizing big data and AI technologies, the assistants provide personalized intelligent services, including predicting market trends and target stock prices to cater to diverse investor needs.
Clients can now keep abreast of the latest global market developments anytime, anywhere by using Eddid ONE and Eddid ONE USA*. This allows them to enjoy the Group’s one-stop proprietary intelligent trading services no matter where they are. Going forward, Eddid Financial will continue leveraging its leadership in fintech innovation to further enhance Eddid ONE and Eddid ONE USA*, with the commitment to deliver an even more comprehensive, efficient and secure financial services experience.
* *Always consider the risks when investing.
The post Eddid ONE and Eddid ONE USA Expand Global Coverage appeared first on HIPTHER Alerts.

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Gcore Recognised as Highly Commended in the Industry Innovator Category at the EMEA NVIDIA Partner Network Awards

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Gcore, the global edge AI, cloud, network, and security solutions provider, today announced its recognition as ‘Highly Commended’ in the Industry Innovation category at the NVIDIA Partner Network Awards EMEA 2024 for its groundbreaking Speech-to-Text Translator.
The NVIDIA Partner Network Awards celebrate the exceptional contributions of partners exhibiting outstanding efforts, unwavering commitment, and innovative spirit in accelerated computing and AI. The Industry Innovation Award recognises partners who have spearheaded transformation within a specific industry or field.
Gcore used artificial intelligence to launch the first advanced machine learning model for speech-to-text translation from English to Luxembourgish. The model can be used to translate entire recordings for various mediums, including theatre, film, or music, from English into Luxembourgish text – for example, in the form of film subtitles.
Gcore is currently working on enabling real-time translations for use during conferences and events. The company’s future plans also include adding other commonly used languages in Luxembourg, such as French and German, to the translation tool, making speech-to-text translation a key mode of cross-language communication.Speech-to-Text Translator is part of Gcore’s state-of-the-art edge AI solutions, which also include GPU Cloud for AI training and Inference at the Edge for AI inference, all powered by NVIDIA GPUs.
Commenting on the award, Andre Reitenbach, CEO of Gcore, said: “We are delighted to receive this recognition from the NVIDIA Partner Network. Aware of the growing demand from the Luxembourgish public, expats, and local businesses for translation from English to Luxembourgish, Gcore is committed to making communication seamless and efficient. Our groundbreaking AI app for speech recognition sets a new standard, demonstrating our leadership in edge AI services. We are honoured to be acknowledged by the NVIDIA Partner Network for our innovative contribution to the AI landscape.”
“AI fosters communication and connection through its ability to translate across languages,” said Dirk Barfuss, Director of EMEA Channel at NVIDIA. “Gcore is recognized as 2024 EMEA NPN Highly Commended in the Industry Innovator category for its achievements in creating the first advanced speech-to-text translation from English to Luxembourgish, powered by NVIDIA GPUs.”
Gcore’s model was built on Whisper Small – the downsized version of the open-source Whisper model, containing 244 million weights. To meet this substantial demand for computing resources, Gcore used a high-end solution powered by the NVIDIA A100 Tensor Core GPU.
The post Gcore Recognised as Highly Commended in the Industry Innovator Category at the EMEA NVIDIA Partner Network Awards appeared first on HIPTHER Alerts.

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CCI Initiates Study on AI’s Influence on Competition, Efficiency, and Innovation

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The Competition Commission of India (CCI) is gearing up to conduct a comprehensive study on the impact of Artificial Intelligence (AI) on competition, efficiency, and innovation.
This initiative comes in response to the growing significance of AI across various sectors. With the aim of fostering innovation and fair competition, the CCI has announced plans to delve into the evolving landscape of AI and its application in Indian markets.
In a recent announcement, the CCI issued a request for proposal to engage an agency to conduct this market study. The study aims to provide insights into the emerging competition dynamics within AI ecosystems, along with assessing the implications of AI applications for competition, efficiency, and innovation across key user industries.
Key focus areas of the study include understanding the AI ecosystem, analyzing its applications in different industries, evaluating its impact on competition within sectors, and examining the regulatory frameworks governing AI development in India and other major jurisdictions.
Additionally, the study will explore strategies for fostering a competitive environment that encourages both incumbent AI developers and new innovators. It will also address measures for creating awareness among stakeholders regarding AI usage and its implications on competition, alongside ensuring compliance with necessary standards.
To facilitate this study, the selected agency will be tasked with collating existing research and data, as well as engaging with relevant stakeholders. The deadline for submission of bids is June 3, with the opening of financial bids scheduled for June 26.
This initiative underscores India’s commitment to understanding and harnessing the potential of AI while ensuring fair competition and promoting innovation. It aligns with the CCI’s broader efforts to address emerging challenges in the digital economy and safeguard competition in the market.
By conducting this study, the CCI aims to equip itself with valuable insights that will inform future regulatory decisions and strategies related to AI development and its impact on competition dynamics in India.
Source: business-standard.com
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