Global revenues from solar cells and modules totaled nearly $38.7 billion in 2011 and should decline to $28.6 billion in 2012. Total revenues are expected to reach $78.1 billion in 2017 after increasing at a five-year compound annual growth rate (CAGR) of 22.3%.
Europe holds the largest share of the market and should increase from nearly $16.7 billion in 2012 to $35.1 billion in 2017, a CAGR of 16.1%.
Asia is expected to increase from nearly $8 billion in 2012 to $27 billion in 2017, a CAGR of 27.6%.
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