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Building Integrated Photovoltaics Market to Grow by USD 36.17 Billion (2024-2028), Driven by Demand to Lower Energy Costs, Report Highlights AI’s Impact – Technavio

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NEW YORK, Nov. 14, 2024 /PRNewswire/ — Report on how AI is redefining market landscape – The global building integrated photovoltaics market  size is estimated to grow by USD 36.17 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 21.25%  during the forecast period. Rising demand to reduce energy costs is driving market growth, with a trend towards growing number of green building. However, intermittent nature of solar power  poses a challenge.Key market players include AGC Inc., BELECTRIC Solar and Battery GmbH, Canadian Solar Inc., ertex solar, First Solar Inc., Hanergy Thin Film Power EME BV, Harsha Abakus Solar Pvt. Ltd., Heliatek GmbH, Kyocera Corp., Meyer Burger Technology AG, Onyx Solar Group LLC, PowerFilm Solar Inc., Reliance Industries Ltd., SCHOTT AG, Sharp Corp., Solaria Corp., Trina Solar Co. Ltd., United Solar Ovonic Inc., Wuxi Suntech Power Co. Ltd., and Yingli Green Energy Holding Co. Ltd..

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Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

End-user (Commercial, Residential, and Industrial), Panel Type (Crystalline panel and Thin-film panel), and Geography (Europe, APAC, North America, Middle East and Africa, and South America)

Region Covered

Europe, APAC, North America, Middle East and Africa, and South America

Key companies profiled

AGC Inc., BELECTRIC Solar and Battery GmbH, Canadian Solar Inc., ertex solar, First Solar Inc., Hanergy Thin Film Power EME BV, Harsha Abakus Solar Pvt. Ltd., Heliatek GmbH, Kyocera Corp., Meyer Burger Technology AG, Onyx Solar Group LLC, PowerFilm Solar Inc., Reliance Industries Ltd., SCHOTT AG, Sharp Corp., Solaria Corp., Trina Solar Co. Ltd., United Solar Ovonic Inc., Wuxi Suntech Power Co. Ltd., and Yingli Green Energy Holding Co. Ltd.

Key Market Trends Fueling Growth

The Building Integrated Photovoltaics (BIPV) market is experiencing significant growth as businesses and homeowners seek to incorporate renewable energy sources into their structures. The solar panel market is booming, with disposable income levels enabling residential and commercial building integrations. BIPV systems are being integrated into roof systems, solar walls, and building-integrated walls, as well as facades, skylights, and shading and membranes. Crystalline silicon and thin film are popular photovoltaic materials, with thin-film solar panels and semi-transparent solar panels gaining traction. The industrial segment is a key driver, with energy conservation, environmental concerns, and carbon footprint reduction being top priorities. BIPV components, such as wireless connectivity and heat generation, offer technological advancements. However, labor shortages and recovery from the pandemic pose challenges. The construction sector is embracing BIPV for energy-efficient buildings, fuel efficiency, and health benefits, reducing reliance on non-renewable power resources like oil and coal. BIPV systems offer ecological benefits, lower energy bills, and smaller carbon footprints. 

Buildings consume approximately 40% of the world’s energy and are the largest contributors to greenhouse gas emissions, surpassing the transportation sector. Generating sufficient energy for a building’s operation is costly and depletes natural resources. To address this issue, Building Integrated Photovoltaics (BIPV) offers a solution. BIPV integrates solar panels into a building’s structure, generating clean energy on-site. This reduces a building’s energy consumption from external sources and lowers its carbon footprint. BIPV is an investment in energy efficiency and sustainability for the long term. 

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Market Challenges

The Building Integrated Photovoltaics (BIPV) market is growing as businesses and homeowners seek to integrate renewable energy sources into their structures. However, challenges persist in this sector. The solar panel market faces competition from disposable income levels, making residential and commercial building integrations more appealing. Integrating solar panels into roof systems and walls, including solar walls and BIPV facades, presents opportunities for thin film and organic photovoltaics. Roof installation, solar walls, and facades using photovoltaic materials require careful planning and coordination with conventional building materials. Industrial segment adoption of BIPV components, such as shading and membranes, is increasing due to energy conservation, environmental concerns, and the shift away from non-renewable power resources like oil and coal. Solar power generation offers clean energy with ecological benefits and reduced carbon footprints. However, labor shortages and recovery post-pandemic pose challenges. BIPV systems using thin-film PV and crystalline PV are being integrated into energy-efficient buildings, reducing conventional power usage and energy bills, while providing health benefits and household adoption. Wireless connectivity and heat generation technologies enhance the value proposition of BIPV systems in the construction sector.Solar power prices have led to an increase in photovoltaic (PV) installations, but the intermittent nature of solar energy presents challenges. Solar power output depends on panel efficiency, solar irradiation, and shading, which can vary throughout the day and with cloud cover. Building integrated photovoltaics (BIPV) systems connect to the electricity grid, making grid management more complex due to solar power’s intermittency. This variability significantly impacts power systems, requiring careful management to maintain a stable electricity supply.

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Segment Overview 

This building integrated photovoltaics market report extensively covers market segmentation by

End-user 1.1 Commercial1.2 Residential1.3 IndustrialPanel Type2.1 Crystalline panel2.2 Thin-film panelGeography 3.1 Europe3.2 APAC3.3 North America3.4 Middle East and Africa3.5 South America

1.1 Commercial-  The commercial segment dominates the global Building Integrated Photovoltaics (BIPV) market due to the higher energy consumption in commercial buildings compared to residential ones. BIPV systems enable these structures to generate their electricity, decreasing reliance on grid-connected power and resulting in substantial energy cost savings over time. Governments worldwide are promoting energy management systems and BIPV technologies to enhance building efficiency. Financial incentives for alternative energy sources like solar power are being offered by governments to lower carbon emissions, making the BIPV market an appealing investment opportunity. Institutions, offices, hospitals, and small- and medium-sized entrepreneurs are heavily investing in solar energy to minimize their dependence on grid-connected power. The commercial sector is projected to expand steadily during the forecast period due to the increasing demand for office space, hospitals, and other commercial establishments. BIPV systems significantly improve the return on investment for various commercial buildings by maximizing energy savings. Initiatives such as the US Better Buildings Program, which aims to improve the energy efficiency of commercial buildings by 20% by 2020 through investments in clean energy technologies and cost-effective upgrades, further boost the market. Government policies and incentives play a significant role in fostering renewable energy adoption, and stimulus packages and policies supporting green initiatives and infrastructure projects could positively impact the global BIPV market during the forecast period.

Download complimentary Sample Report to gain insights into AI’s impact on market dynamics, emerging trends, and future opportunities- including forecast (2024-2028) and historic data (2018 – 2022) 

Research Analysis

Building-integrated photovoltaics (BIPV) is an innovative approach to renewable energy that combines solar panels with building structures, transforming conventional building materials into energy-generating assets. This market is witnessing significant growth due to the increasing adoption of solar panels in both residential and commercial sectors. Renewable energy sources, particularly solar, are gaining popularity as disposable income levels rise and energy bills become a larger expense. BIPV systems can be integrated into various building components such as roofs, skylights, facades, and even solar panels themselves, using photovoltaic materials instead of conventional ones. The construction sector is embracing BIPV systems as a way to reduce energy consumption, lower carbon footprints, and comply with favorable government regulations. Thin-film solar panels, such as amorphous silicon and cadmium telluride, are commonly used in BIPV due to their flexibility and aesthetic appeal. Both crystalline PV and thin-film PV have their unique advantages and applications in residential, commercial, and industrial buildings.

Market Research Overview

Building Integrated Photovoltaics (BIPV) is an innovative approach to renewable energy that involves integrating solar panels into the fabric of buildings, replacing conventional building materials with photovoltaic ones. This market encompasses various applications such as roof systems, solar walls, facades, skylights, and shading and membranes. The Solar panel market is experiencing significant growth due to disposable income levels and increasing concerns for energy conservation and environmental concerns. BIPV components include crystalline silicon, thin film, and Organic Photovoltaics (OPV), with thin-film and semi-transparent solar panels gaining popularity. The construction sector is embracing BIPV as a solution to reduce reliance on non-renewable power resources like oil and coal, and to generate clean energy with ecological benefits. BIPV systems offer architectural optimization, wireless connectivity, heat generation, and energy efficiency, making them an attractive option for residential, commercial, and industrial segments. Despite labor shortages and recovery challenges, the BIPV market continues to expand, offering opportunities for technological advancements and fuel efficiency improvements. Household adoption of BIPV systems is increasing due to energy bill savings, carbon footprint reduction, and health benefits.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

End-userCommercialResidentialIndustrialPanel TypeCrystalline PanelThin-film PanelGeographyEuropeAPACNorth AmericaMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Orion Innovation Names Brian Bronson Chief Executive Officer

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Technology Industry Executive and Leader to Drive Next Phase of Company Growth

EDISON, N.J., Nov. 15, 2024 /PRNewswire/ — Orion Innovation (“Orion”), a leading digital transformation and product development services firm, today announced the appointment of Brian Bronson as Chief Executive Officer, effective immediately. With over 25 years of leadership experience across global technology sectors, Bronson will lead Orion’s next phase of growth and transformation, focusing on expanding the company’s digital capabilities and market presence. Brian succeeds Raj Patil, who will transition to an advisory role with the company and One Equity Partners.

“Brian’s impressive track record of driving profitable growth and leading large-scale organizational transformation makes him the ideal leader for Orion’s next chapter,” said Carlo Padovano, Partner at One Equity Partners and Lead Director of Orion Innovation. “His deep expertise in product engineering, GenAI adoption, and digital transformation perfectly aligns with our vision for Orion’s future.

On behalf of the Orion Board, I’d like to thank Raj for his leadership and dedication in helping develop Orion into a market leader. Raj will transition to an advisory role with the company and One Equity Partners.”

“I’m honored to take on this role and excited about the tremendous opportunities ahead for Orion,” said Bronson. “The company has built an impressive foundation with a blue-chip roster of clients, a global delivery platform, and a talented team with deep domain and engineering expertise. I look forward to working closely with our employees, clients, and partners as we deliver transformative solutions to our clients, drive innovation, and scale our capabilities.”

Before joining Orion, Brian served as EVP of US Telecom, Media, and Entertainment at Capgemini. Additionally, he led the integration and execution of Capgemini’s global engineering services business across the Americas and Asia. This included driving growth in many industries leveraging innovative capabilities tied to 5G, connectivity, and software product engineering. Previously, as President & CEO of Radisys, a leading provider of open telecom solutions, he led the company’s strategic transformation from a hardware company to a provider of cutting-edge software and enabling technologies for the telecom, technology, and medical industries. This transformation culminated in the sale of Radisys to Reliance Industries in 2018, marking a successful exit for the company.

About Orion Innovation

Orion Innovation (“Orion”) is a leading digital transformation and product development services firm. Rooted in engineering and design thinking, along with a unique combination of agility, scale, and maturity, its team of approximately 6,400 associates helps Fortune 1000 companies improve efficiencies, enhance customer experiences, and develop new digital offerings. Through its delivery centers in North America, EMEA, India and Latin America, Orion serves clients across Telecom, Media & Technology, Sports & Entertainment, Professional Services, Financial Services, and Healthcare industries. For more information, visit www.orioninc.com

About One Equity Partners

One Equity Partners (“OEP”) is a middle market private equity firm focused on the industrial, healthcare, and technology sectors in North America and Europe. The firm seeks to build market-leading companies by identifying and executing transformative business combinations. OEP is a trusted partner with a differentiated investment process, a broad and senior team, and an established track record generating long-term value for its partners. Since 2001, the firm has completed more than 400 transactions worldwide. OEP, founded in 2001, spun out of JP Morgan in 2015. The firm has offices in New York, Chicago, Frankfurt and Amsterdam. For more information, please visit www.oneequity.com.

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Morrison Securities launches one of Australia’s first plug-and-play global trading to 15 countries with ViewTrade

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SYDNEY, Nov. 15, 2024 /PRNewswire/ — Equities clearing business Morrison Securities (“Morrison”) is launching one of Australia’s first plug-and-play global trading to 15 countries with trading technology provider ViewTrade.

This will mean Morrison’s 38,000+ active clients trading $30 billion annually will only need to go through KYC once and then will be provided unprecedented rapid global trading access.

Morrison will now also offer enhanced global equity and options trading, fixed income, ETFs, seamlessly integrate domestic and global trading, and choice between fully disclosed or omnibus operating models.

ViewTrade has calculated that implementation of solutions like this across all of Australia’s global trading could generate efficiencies of nearly $240 million annually.

A business the size of Morisson launching this solution is a watershed moment for enhancing global opportunities for Australia’s wealth management sector, according to ViewTrade.

Nigel Singh, CEO of ViewTrade International Australia, said: “We are excited to work with Morrison Securities. Together, we are unlocking a world of investment opportunities for Australians. By accessing global markets, firms can offer their clients more diversified portfolios, reducing risk and protecting wealth. This benefits both domestic and international clients. We invite other firms to join us in this partnership and unlock the potential of global market access.”

William Slack, CEO of Morrison Securities, said: “We’ve designed a solution that integrates global market access into our domestic offering for a superior customer experience. With our combined expertise, we’re confident in delivering an efficient, scalable solution tailored to the specific needs of our clients.”

Laksh Gangwani, Chief Revenue Officer – APAC and Middle East at ViewTrade, added: “We are thrilled about the partnership with Morrison Securities as they launch one of Australia’s first plug-and-play global trading solutions to 15 countries. Morrison’s integrated approach to technology, compliance, and operations is enabling investors to complete KYC once, while accessing multiple markets and asset classes with ease. This will ensure Australian investors can build diversified international portfolios with ease.”

ViewTrade (www.viewtrade.com) is a global leader in investment and trading infrastructure solutions that power cross-border investing for financial services firms throughout the world. ViewTrade provides the technology, support, and brokerage services that business innovators need to launch or enhance retail investing experiences. For more than 20 years, ViewTrade has partnered with over 300 clients – from technology startups to large banks, brokers and advisors – to deliver innovative investment solutions and exceptional customer service.

Morrison Securities (https://www.morrisonsecurities.com/) Established in 1985, Morrison Securities is an Australian Broking firm specialising in trading, execution, and clearing services tailored to advisory firms and wholesale clients. They partner with firms to navigate operational challenges and help them realise their full potential. Their comprehensive suite of solutions covers seamless international market access, advanced equities and options trading, capital raising and DVP settlement services, integrated APIs, and stock lending. With a platform-agnostic approach and enterprise-level client service, they prioritise operational excellence and long-term partnerships.

 

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SOURCE ViewTrade

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Australia’s least-favourite chores just got easier with Roborock’s Black Friday & Cyber Monday deals

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SYDNEY, Nov. 15, 2024 /PRNewswire/ — Roborock, the global best-selling robot vacuum brand[i], is thrilled to announce its exclusive deals for Black Friday and Cyber Monday 2024.

Starting from 21 November to 4 December 2024, Roborock is offering significant discounts on a wide range of popular models, with savings of up to $700 – including popular models such as the S8 MaxV Ultra, Qrevo MaxV, Q8 Max+, Qrevo Master, Qrevo S, and Flexi Pro.

In a recent survey conducted across Australia, Roborock found that 27% of Australians would happily skip cleaning their floors forever, with many Aussies also admitting to neglecting high-maintenance tasks such as vacuuming, mopping, and appliance cleaning. With these cleaning challenges in mind, Roborock is offering unbeatable savings on popular models across Black Friday and Cyber Monday, with savings of up to $700.

The deals are available at Robrock Australia’s Official Online Store, Roborock’s Amazon storefront and all authorised retailers.

 Black Friday & Cyber Monday Deals

S8 MaxV Ultra – (SAVE $700) – MSRP $2,999 / Promo: $2,299The S8 MaxV Ultra is the company’s most powerful one-stop cleaning solution, combining the company’s most sophisticated deep cleaning technology with user-friendly features. The model introduces a unique robotic arm and an extra mop that efficiently cleans challenging areas with complete corner cleaning capabilities. Newly launched.Qrevo Master – (SAVE $700) – MSRP $2,699 / Promo: $1,999Newly launched and the most advanced model in the mid-range Qrevo series, the Qrevo Master is built for those who seek top-of-the-line cleaning technology at a mid-range price point. With high-powered suction, deep corner cleaning capabilities, and complete self-maintenance features, it’s designed to tackle the toughest cleaning challenges effortlessly.

Qrevo MaxV – (SAVE $700) – MSRP $2,199 / Promo: $1,499Offers users a complete hands-free floor cleaning experience at the mid-range price point, taking both vacuuming and mopping off your plate while combining powerful cleaning functions, self-maintenance capabilities, and intelligent features such – as pet recognition from flagship models – into one convenient cleaning package.

Qrevo S – (SAVE $400) – MSRP $1,499 / Promo: $1,099Newly launched, the Qrevo S is ideal for those looking for their first robot vacuum that excels at both vacuuming and mopping with self-maintenance features. It blends cleaning performance with a streamlined design for everyday cleaning.

Q8 Max+ – (SAVE $500) – MSRP $1,299 / Promo: $799The Q8 Max+ delivers high-performance cleaning with enhanced navigation and automatic dirt disposal. It’s equipped with powerful suction and a flagship roller brush system making it perfect for homes with mainly hard floors, ensuring a deep and thorough clean.

Flexi Pro – (SAVE $300) – MSRP $999 / Promo: $699 (Available starting 14th November)The Flexi Pro is a versatile handheld vacuum option designed for deep floor cleaning and tight spaces. Capable of handling both wet and dry messes, and the ability to clean itself after every clean-up, the Flexi Pro tackles all types of messes with ease.

According to Roborock’s recent survey, garages are the dirtiest spaces in Australian homes, with 46% of respondents admitting they need more attention. Other problem areas include bathrooms (41%), kitchens (38%), and even kids’ playrooms (32%). Given the demands of busy lives, it’s easy to see why some chores fall through the cracks.

With these exclusive Black Friday and Cyber Monday offers, Roborock makes it easier than ever for Aussies to maintain a clean and comfortable home – without the hassle. Whether it’s tackling neglected garages, high-traffic kitchens, or hard-to-reach corners in the bathroom, Roborock’s innovative products are ready to take on the task.

For more information on Roborock products, please visit https://au.roborock.com  

-ENDS-

Notes to Editors: 

The Roborock survey was conducted by TGM Research and involved 1,028 nationally representative respondents across Australia. The survey aimed to understand the cleaning habits, preferences, and challenges faced by Australians ahead of the launch of Roborock’s Qrevo Master, Qrevo S and H5. 

About Roborock     

Roborock is a leading smart cleaning brand renowned for its intelligent cleaning solutions. With a steadfast dedication to becoming a global leading smart appliance player, Roborock enriches liveswith its innovative line of robotic, cordless, wet/dry vacuum cleaners, and washer-dryers. Rooted in a user-centric approach, our R&D-driven solutions cater to diverse cleaning needs in over 15 million homes across 170+ countries.  Headquartered in Beijing and with strategic subsidiaries in key markets, including the United States, Japan, the Netherlands, Poland, Germany, and South Korea, Roborock is dedicated to elevating its market presence worldwide. For more information, visit https://au.roborock.com/.    

[i] [1] The data comes from Euromonitor International (Shanghai) Co., Ltd. The sales figures of robotic vacuum cleaners worldwide in the first three quarters of 2023 (in RMB hundred million) were used for calculation. Roborock ranks first in the industry. Robotic vacuum cleaner refers to vacuum cleaners that automatically move around rooms using sensors to clean floors. The research was completed in February 2024.

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SOURCE Roborock

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