String Inverter Market Future of Gamification in Market Research: Opportunities and Challenges

Report Ocean has published a market research report on "String Inverter Market", which provides a comprehensive analysis of current and upcoming trends in the industry. The report is designed to assist readers in identifying the products and services that are driving revenue growth and profitability. It offers valuable insights into the market and is a valuable resource for businesses looking to stay ahead of the competition.

The global string inverter market was valued at $3.1 billion in 2019, and is projected to reach $4.6 billion by 2027, growing at a CAGR of 6.3% from 2020 to 2027. String inverter is a system that converts DC power into AC power. Inverters are considered to be the main part of the solar system. It is gaining popularity over central inverter (type of solar inverter) in small utility projects nearly less than 1 MW. Sting inverters are increasingly used in the commercial, industrial, and utility sectors in the past five years. More than one string inverter is present in the solar system, depending on the size of the system.

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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.

Rapid increase in commercial & residential activities across the globe is a key factor driving the growth of the string inverter market. In addition, light weight, easy installation, high efficiency, and flexibility significantly contribute toward the growth of the global string inverter market. However, higher heat loss due to the larger size and absence of panel level monitoring are the key factors hampering the growth of the string inverter market globally. Conversely, government initiatives toward renewable and sustainable energy is expected to create potential growth opportunity for the key players operating in this market.

The global string inverters market is segmented on the basis of connection type, phase, end-use industry, and region. Depending on connection type, the market is categorized into on-grid and off-grid. On the basis of phase, it is bifurcated into single phase and three phase. By end-use industry, the market is fragmented into residential, commercial & industrial, and utilities. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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In terms of global ICT exports in 2021, Ireland ranked first with US$ 169.32 billion, followed by the United States at number 2, India at number 3, and China at number 4. The passage also notes the significant increase in Brunei's global ICT exports by 228.2% year over year since 2009, while Sierra Leone's global ICT exports have decreased by 61.7% year over year in the same period. Overall, the passage highlights the growth and potential of the global ICT market, driven by increased investments and funding for infrastructure and project development.

It seems that the ICT industry in Europe is predicted to experience moderate growth in the coming years, with an annual increase of 1.5% expected from 2021 to 2026. Germany currently holds the top position in terms of ICT revenue in Europe, followed by the United Kingdom, France, and Ireland. It's interesting to note that while some countries like Malta have experienced significant growth in the ICT industry since 2016, others like Italy have seen a slight decline. This information can be useful for businesses and investors looking to enter or expand in the European ICT market.

KEY BENEFITS FOR STAKEHOLDERS? The report includes in-depth analysis of different segments and provides market estimations between 2020 and 2027.? A comprehensive analysis of the factors that drive and restrict the growth of the global string inverter market is provided.? Porter's five forces model illustrates the potency of buyers & sellers, which is estimated to assist the market players to adopt effective strategies.? Estimations and forecast are based on factors impacting the global string inverter market growth, in terms of value.? The key market players are profiled to gain an understanding of the strategies adopted by them.? This report provides a detailed analysis of the current global string inverter market trends and future estimations from 2020 to 2027, which helps identify the prevailing market opportunities.

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?KEY MARKET SEGMENTSBy Connection Type– On-Grid– Off-Grid

By Phase– Single Phase– Three Phase

By End-use Industry– Residential– Commercial & Industrial– UtilitiesBy Region– North Americao U.S.o Canadao Mexico– Europeo Germanyo Franceo UKo Italyo Spaino Rest of Europe– Asia-Pacifico Chinao Japano Indiao South Koreao Rest of Asia-Pacific– LAMEAo Brazilo Saudi Arabiao UAEo Rest of LAMEA

KEY MARKET PLAYERS– SMA Technologies AG– Fimer S.p.A.– SolarEdge Technologies Ltd.– Ginlong Technologies– Siemens AG– Delta Electronics Public Co., Ltd.– Chint Group– SolarMax– Growatt New Energy Technology Co., Ltd.– Huawei Technologies Co., Ltd.

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