According to the research report titled ‘Global Dye Sensitized Solar Cell Market Size study, by Application(Portable charging, BIPV/BAPV , Embedded Electronics, Outdoor advertising, Automotive ) and Regional Forecasts 2021-2027’, available with MarketStudyReport, global dye sensitized solar cell market was worth USD 101.72 million in 2020 and is anticipated to attain a valuation of USD 230.55 million by 2027 year-end, recording a CAGR of 12.4% throughout.
 

Wide-spread demand for renewable energy sources, increasing environmental concerns, as well as expanding automotive integrated photovoltaics market are majorly boosting the global dye sensitized solar cell market. In fact, Centre for Climate and Energy Solutions stated that in 2019, renewable energy accounted for 11.2% of total energy consumed for heating, power, and transportation in the United States.
 

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For the uninitiated, dye sensitized solar cells are low-cost solar cells that fall within the thin-film solar cell category. A cell is built around a semiconductor that is created between a photosensitive anode and an electrolyte.
 

Moreover, rising demand for interior ambient lighting in automobiles will propel market expansion in the forthcoming years. Despite the positive outlook, lack of customer knowledge might negatively impact the industry's growth curve during 2021-2027.
 

Based on application, the worldwide dye sensitized solar cell market is fragmented into portable charging, outdoor advertising, BIPV/BAPV, embedded electronics, and automotive.
 

From a regional perspective, as per the report, the market size spans across North America (U.S., Canada), Europe (U.K., France, Germany, Spain, Italy, ROE), Asia Pacific (China, Japan, India, Australia, South Korea, RoAPAC), and Latin America (Mexico, Brazil). Key aspects such as consumption value and volume, as well as growth rate over the forecast period, are studied for each of these geographies.
 

Among the listed geographies, Europe holds the largest market share due to rising environmental awareness. Meanwhile, North America industry is expected to develop substantially between 2021 and 2027, attributable to rising need for renewable energy sources which are likely to propel the regional industry to new heights.
 

Talking about the competitive landscape, companies such as Everlight Chemical Industrial Corp., Common Wealth Scientific and Industrial Research and Organization (CSIRO), National Institute for Materials Science (NIMS), Peccell Technologies Inc., GreatCell Solar Ltd. (Dyesol Ltd.), RICOH Company Ltd., Dyenamo AB, Solaronix SA, Fujikura Ltd., and 3GSolar Photovoltaics Ltd., are the major contributors to global dye sensitized solar cell industry.