The report specifically mentioned solar thermal power technology will be the next major development of the market, the technology research and development will enable it to become a viable alternative to traditional PV technology.
Due to emerging markets such as China, India, and Brazil, and Canada's rise, as well as established markets such as Germany and France also wants to use the latest technology to develop the market, solar thermal power technology's growth is expected to exceed photovoltaic technology.
During 2011-2016, the compound annual growth rate of solar thermal power generation market is estimated to be about 44.9%, contrast, photovoltaic market growth rate of only 29.9%.
But the growth was not enough to make it beyond the PV market by 2016, the cumulative installed capacity of solar thermal power generation market is estimated to be 8.6 GW, and the photovoltaic market is expected to 219 GW.
MarketsandMarkets notes that will become the fastest-growing markets in North America, 2011-2016, solar system installation the compound annual growth rate of 30.7%, the market size is expected to reach us $ 14.8 billion. Market development in North America mainly by United States market driven, photovoltaic and solar thermal power technologies have received significant investment.