[197+ Pages Report] According to a recent survey issued by Facts and Factors, the global energy harvesting systems market was valued at about USD 432 Million in 2020 and is predicted to reach USD 700 Million by the end of financial year 2026, rising at a CAGR of nearly 8.4% between 2021 and 2026.
Energy harvesting is the process of obtaining energy from external sources, then capturing and storing it. Wireless autonomous devices, including wearable electronics and wireless sensor networks, are commonly exposed to this technique. This method usually uses less energy for low-power devices and incorporates electrical circuitry for storage unit management and protection. An electrical circuit, sensing components (sensors and transducers), and a storage unit make up the power extraction system. The energy harvesting system charges the transducer with unconventional energy sources, which are then transformed into electricity and stored in the battery unit. A supplementary electronic circuit manages the produced power and protects the storage unit and principal circuitry in the system. The sensing elements act as a converter, converting physical energy (such as light, heat, vibration, pressure, salinity gradients, and radiofrequency) into electrical energy. This electrical energy is either stored in batteries, thin-film capacitors, supercapacitors, ultracapacitors, or utilized to power low-power electronic circuits.
The energy harvesting systems market is anticipated to be driven by rising demand for safe, energy-efficient, and long-lasting systems that require little or no maintenance during the forecast period. The growing IoT trend would effectively raise the requirement for energy-efficient and wireless sensors autonomous systems. As a result, the need for efficient energy harvesting devices will increase, reducing the requirement for battery charging and lowering overall costs. As a result, IoT intervention in a variety of industrial and non-industrial applications will increase market demand for energy harvesting systems within the forecast period. The higher initial cost of energy harvesting systems, as well as the restrictions of remotely deployed networking modules, are two major factors that are hindering the energy harvesting systems industry's growth.
The global energy harvesting system market is segregated based on end-use system, technology, component, end-use industry, and region. On the basis of technology, the global energy harvesting system industry is categorized into vibration energy harvesting, light energy harvesting, thermal energy harvesting, and radiofrequency energy harvesting. Based on the End-use system, the global energy harvesting system industry is categorized into the wireless HVAC system, wireless switching system, tire pressure monitoring system, wireless sensing and telematics system, remote health monitoring system, asset tracking system, and regenerative energy harvesting system. Based on components, the global Energy Harvesting System industry is categorized into power management ic (PMIC), transducers, and secondary batteries. Based on the end-use industry, the global energy harvesting system industry is categorized into consumer electronics, industrial, transportation, building and home automation, security, and others.
In 2020, North America is likely to be the leading regional energy harvesting systems market. Energy With the region's rapid technical advancements, it has emerged as the most important market for building and home automation investments that use renewable energy and drive the market for energy harvesting systems. In the North American area, the United States accounted for the majority of the income. The market is anticipated to develop significantly as a result of the country's thriving industrial and transportation sectors, which are influenced by the administration's goal of making the country energy self-sufficient. The North American market has seen a high level of industrial IoT adoption compared to other regions, which also drives demand for energy recovery systems. Government attempts to reduce energy emissions from historic and public buildings have supported this rise.
Some main participants of the worldwide energy harvesting system market are Bionic Power, Convergence Wireless, Cymbet, Cypress Semiconductor, ABB, Enocean, Fujitsu, Greenpeak Technologies, Honeywell, IXYS Corporation, Laird, Linear Technology, Lord Microstrain, Microchip Technology, MIDE Technology, O-Flexx Technologies, Powercast Corporation, Stmicroelectronics, Texas Instruments, Voltree Power. amongst others.
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