The GMI Research expects the energy harvesting system market to expand at a significant rate. From a regional perspective, North America is expected to lead the market due to the increasing awareness related to energy efficiency and the rising use of renewable sources of energy for powering electronic devices among consumers.
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Energy Harvesting System Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
The rising trend for green energy, the strong demand for power-efficient and sustainable systems, and the easy availability of plenty of renewable energy sources, including tidal, ocean, and wind energy, are the major factors responsible for the growth of the energy harvesting system market size. The increasing expenditure in infrastructure and industry development, growing awareness associated with green energy trends, and various initiatives taken by numerous governments to reduce CO2 emissions from buildings are some other factors that will have a positive influence on the market’s demand.
The energy harvesting system offers a substitute source of power for applications in locations having frequent power cuts, no grid power connectivity, and inefficiency in installing solar panels or wind turbines. This factor is bolstering the market growth of energy harvesting system in the upcoming years. The advent of enhanced and advanced energy harvesting technology that enables the connected devices to be virtually operated without any negative effects on the environment is one of the major factors propelling the growth of the energy harvesting system market share in terms of revenue. On the other hand, limited knowledge related to the use of energy harvesting devices, lack of remotely installed networking modules, and the increased initial cost will hamper the growth of the global energy harvesting system market.
End-Use System Segment Drivers
Based on the end-use system, the market is segmented into wireless switching systems, wireless HVAC systems, wireless sensing and telematics system, tire pressure monitoring system, asset tracking system, remote health monitoring systems, and regenerative energy harvesting systems. The wireless HVAC system is anticipated to increase at a higher CAGR in the upcoming years due to the increasing number of commercial and residential infrastructures, followed by the growing installation of advanced HVAC systems in the building are the key drivers accelerating the segment growth.
Energy Harvesting System Market’s leading Manufacturers:
- Honeywell International Inc.
- ABB Ltd.
- Fujitsu Limited
- STMicroelectronics N.V.
- General Electric Company
- Advanced Linear Devices, Inc.
- Convergence Wireless
- Powercast Corporation
- Microchip Technology, Inc.
- Texas Instruments Incorporated
Energy Harvesting System Market Segmentation:
Segmentation by Technology:
- Light Energy Harvesting
- Vibration Energy Harvesting
- Radio Frequency (RF) Energy Harvesting
- Thermal Energy Harvesting
Segmentation by Component:
- Transducers
- Photovoltaic Transducer
- Electrodynamic, Piezoelectric, and Electromagnetic Transducer
- Thermoelectric Transducer
- Radio frequency (RF) Transducer
- PMIC (Power Management Integrated Circuit)
- Secondary Battery
Segmentation by Application:
- Building & Home Automation
- Consumer Electronics
- Industrial
- Transportation
- Security
Segmentation by End-Use System:
- Wireless Switching System
- Wireless HVAC System
- Wireless Sensing And Telematics System
- Tire Pressure Monitoring System
- Asset Tracking System
- Remote Health Monitoring System
- Regenerative Energy Harvesting System
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
About GMI Research
GMI Research is a market research and consulting company that provides syndicated research reports, consulting services, and customized market research reports. Our reports are based on market intelligence studies to ensure relevant and fact-based research across numerous sectors, including healthcare, automotive, information technology & communication, FMCG, and other industries. GMI Research’s deep understanding related to the business environment helps us in generating objective strategic insights. Our research teams consisting of seasoned analysts and researchers have hands-on experience in various regions, including Asia-pacific, Europe, North America, and the Rest of the World. The market research report offers in-depth analysis, which contains refined forecasts, a bird’s eye view of the competitive landscape, factors impacting the market growth, and several other market insights to aid companies in making strategic decisions. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to help our clients to stay ahead of the curve.
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