23-Jul-2021 | Facts and Factors
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 the financial year 2026, rising at a CAGR of nearly 8.4% between 2021 and 2026.
The technique of obtaining energy from external sources is known as energy harvesting, sometimes known as power harvesting or energy scavenging. The source of energy for energy harvesting devices is ambient energy, which is present as a backdrop and is freely available.
The usage of energy harvesting systems is beneficial, since linked equipment may be run almost without harmful environmental impacts, for an indefinite period. Furthermore, the solar, thermal, and vibrational energy forms are the most commonly utilized energy collection methods, among the various environmental sources, including light, thermal and radiofrequency energy, kinetic energy, and chemical/biological energy. Increasing the use of remote energy recovery systems to minimize power disruptions, improve the dependability and supplement an electronic system's principal power source in an electronic circuit is mainly due to the expansion of the world energy harvesting system market. Energy harvesting systems use atmospheric residual energy to create or convert energy into a useful energy form. The conversion process is complicated and requires an accurate system and components for efficient energy production. The cost of implementing these systems is projected to increase, therefore having a negative effect on the growth of the worldwide market in the collection of energy over the prediction period. These systems nevertheless offer a dependable alternative to residual energy generation and hence are projected to have a low to medium cost effect. Energy collection technologies are growing enormously in the future. The method of energy collection ensures efficiency and safety. No maintenance is required and hence upgrades are needed. The enhanced technology of energy harvest adds to the growth of the worldwide market research. Multifaceted sectors, such as medical, consumer, automation, and other industries, depend in recent times mainly on environmental power systems. Significant replacement of batteries and high-energy items worldwide is taking place with the creation of sustainable energy harvesting systems.
Top Market Players
The energy harvesting systems market is slightly concentrated due to the presence of several major and small firms. Furthermore, there have been limited expenditures by new entrants due to considerable improvements in product lines. The market for energy recovery systems is quite unequal, as are methods adopted by some players to reinforce their industry position, such as expansions, launches of new products, contracts, acquisitions, Joint-ventures, partnerships, and others.
Major players operative in the global Energy Harvesting System Market is 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.
Energy harvesting systems are used in building and home automation, as well as industrial and security applications all around the world. One of the major factors propelling the global energy harvesting system market growth is this tendency, which is combined with the rising need for efficient and safe power systems. Because energy harvesting systems are widely used in wireless sensors, consumer electronics, and wearable electronic devices, the expansion of these sectors is driving up demand for these systems. In addition, piezoelectric energy harvesting devices have been shown to be a dependable source of power for distant sensor systems. The rising use of energy develops domestic automation, which generates a favorable market effect. Industries' rising demand generates a spiral in the market. The different governmental institutions are becoming more aware of this. The ocean provides a reliable platform for the creation of energy harvesting technologies by renewing energy sources such as wind. The technological difficulties produce knowledge to restrict the market of the energy collection system. In addition, the integration of the internet of things (IoT) solutions is boosting demand for energy harvesting systems in a variety of end-use sectors. The widespread availability of renewable energy sources such as tidal and wind is leading to an increase in the use of energy collecting devices across a variety of industries. Furthermore, some governments are pushing the usage of renewable energy sources, which is likely to have a beneficial impact on the industry in the future years.
North America is projected to Dominate Global Energy harvesting system Market Growth
In terms of value, North America was the largest market for energy harvesting systems in 2020. North America, with significant manufacturers and government-sponsored programs in these regions to enhance clean energy resources, is anticipated to dominate Europe's worldwide system of energy harvesting in terms of volume and income. The market is projected to rise at a substantial pace of development in emerging countries like South America and the Asia Pacific over the forecast period. To remain competitive in the industry, energy harvesting system manufacturers in the region have engaged in research and development. An environment that allows enterprises to develop cutting-edge innovations is created by extensive R&D infrastructure, a highly qualified staff, and comprehensive industrial value chain integration.
Browse the full report “Energy Harvesting System Market By Technology (Light Energy Harvesting, Vibration Energy Harvesting, Radio Frequency Energy Harvesting, and Thermal Energy Harvesting), 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, and Regenerative Energy Harvesting System), By Component (Controller, Transistor, Capacitor, and Battery), By End-Use Industry (Building And Home Automation, Consumer Electronics, Industrial, Transportation, Security, and Others) By Region: Global & Regional Industry Perspective, Comprehensive Analysis, and Forecasts, 2021 – 2026” at https://www.fnfresearch.com/energy-harvesting-system-market
The global energy harvesting system market is segmented as follows:
Light Energy Harvesting:
- Vibration Energy Harvesting
- Radio Frequency Energy Harvesting
- Thermal Energy Harvesting
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
By End-use Industry:
- Building And Home Automation
- Consumer Electronics
- North America
- The UK
- Rest of Europe
- Asia Pacific
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
Facts & Factors is a leading market research organization offering industry expertise and scrupulous consulting services to clients for their business development. The reports and services offered by Facts and Factors are used by prestigious academic institutions, start-ups, and companies globally to measure and understand the changing international and regional business backgrounds. Our client’s/customer’s conviction on our solutions and services has pushed us in delivering always the best. Our advanced research solutions have helped them in appropriate decision-making and guidance for strategies to expand their business.
Facts & Factors
A 2108, Sargam,
Pune 411041, India