The concentrated photovoltaic solar market is at various stages of development , thus, opportunities are diverse across regions. In the emerging economies such as Europe and the Middle East and Africa, the market is set to accelerate the use of renewable energy resource activities. In 2011, concentrated photovoltaic accounted for a small part of around 0.1 percent of the solar market; a new technology in the renewable energy market. Due to its high output efficiency and rapid deployment solutions, it is expected to grow rapidly in the coming years. Concentrated photovoltaic differs from conventional photovoltaic technology as it uses lenses to concentrate a large amount of sunlight onto a small area of solar photovoltaic cells to generate electricity . The concept of concentrating sunlight rays to generate electricity makes concentrated photovoltaic more efficient than the conventional photovoltaic technology when used for the same area .
It is estimated that the concentrated photovoltaic solar market in terms of value . The global market is segmented based on their concentration technology levels which include high, medium, and low. The market is further segmented on the basis of regions such as Asia-Pacific, Europe, the Middle East & Africa, and Americas as well as on the basis of technologies such as refractors and reflectors. This has been further split into major countries for the respective geographies.
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