Energy Harvesting System Market:
The GMI Research’s latest analysis reveals that the Energy Harvesting System Market is slated to register a significant CAGR over the coming years. This is attributed to the strong demand for power-efficient and sustainable systems, the widespread usage of IoT devices in automation, the emerging trend for green energy, and the availability of plenty of renewable energy sources.
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 Dynamics (including market size, share, trends, growth, forecast, and industry analysis)
Key Drivers
The global energy harvesting system market is predicted to witness an upsurge in demand during the forecast period due to the strong demand for power-efficient and sustainable systems, the widespread usage of IoT devices in automation, the emerging trend for green energy, and the availability of the plenty renewable energy sources like the tidal, ocean, and the wind energy. The rising spending in infrastructure and industry development, growing awareness associated with green energy trends, and supportive initiatives taken by several governments to reduce CO2 emissions from the building are the key drivers contributing to the growth of the energy harvesting system market size.
The energy harvesting system offers a substitute source of power for applications in locations having no grid power connectivity, inefficiency in installing wind turbines or solar panels, and regular power cuts. This factor is projected to surge the growth of the market over the coming years. The advent of enhanced and advanced energy harvesting technology that enables the connected devices to be virtually operated without any side effects on the environment will further boost the market growth. On the other hand, the factors hindering the growth of the energy harvesting system market include high initial cost, limited awareness of the use of the energy harvesting devices, and the restriction of remotely installed networking modules.
Application Segment Drivers
Based on application, the market is segmented into consumer electronics, building & home automation, transportation, industrial, and security. The building & home automation segment is expected to rise at a faster CAGR during the forecast period due to the rising building infrastructure industry, followed by the high adoption of wireless sensor networking (WNS) and the Internet of Things (IoT) for home automation, control systems, and security. Furthermore, the growing production of solar products for home appliances, building automation, and smart security applications in buildings will further propel the growth of the market in the coming years. The rising requirement for enhancing energy management in buildings has increased the adoption of energy harvesting systems in residential buildings, schools, hotels, commercial spaces, malls, industrial infrastructures, and other buildings, thus fuelling the growth of the market.
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)
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