Energy Harvesting System Market
The Energy Harvesting System Market is estimated to grow at a significant CAGR over the forecast period (2020-2027).
The factors driving the growth of Energy Harvesting System Market includes growing emphasis on utilizing green energy, increasing number of smart cities, rising consumption of energy around the world and emerging demand for power efficient harvesting systems. According to the report published by Barclays, the Smart Cities are expected to generate around USD 20 trillion in the economic benefits by the end of 2026, which is expected to boost the Energy Harvesting System Market size in the approaching years. Moreover, the integration of advanced technologies such as Machine Learning, Artificial Intelligence (AI) and Internet of Things (IoT) with the energy harvesting systems, rising concerns related to greenhouse gas emissions and climate change and increasing investments by leading players on research and development, are some of the additional factors supplementing the market growth. In addition, the energy harvesting systems requires low maintenance, can be used in harsh conditions, provides efficiency in installing wind turbines and are used in locations with no power grid connectivity, are some of the features propelling the market growth.
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However, the growth of Energy Harvesting System Market is hindered due to insufficient knowledge about energy harvesting systems amongst consumers.
The leading players operating in the market are General Electric Company, Advanced Linear Devices, Inc., Convergence Wireless, ABB Ltd., Fujitsu Limited, STMicroelectronics N.V., Honeywell International Inc., Powercast Corporation, Microchip Technology, Inc., and Texas Instruments Incorporated among other.
Technology: Segment Analysis
Based on Technology, the Light Energy Harvesting segment is predicted to expand at a robust CGAR during the forecast period attributed to growing use of solar energy harvesting technology to power connected sensors and IoT based devices.
Component: Segment Analysis
Based on Component, the PMIC (Power Management Integrated Circuit) segment is expected to grow at a remarkable CAGR over the forecast period owing to increasing demand for thermoelectric transducer, piezoelectric transducer, and electromagnetic transducers.
Application: Segment Analysis
Based on Application, the Building & Home Automation segment is projected to grow at a steady CAGR during the forecast period due to increasing application of energy harvesting systems in schools, hotels, malls, and residential buildings.
Regional: Segment Analysis
Based on Region, the North American region is anticipated to capture the largest market share over the forecast period. The growing emphasis on utilizing renewable sources of energy, automation in the construction sector, high per capita incomes and increasing population growth rates, are some of the factors augmenting the market growth in North America.
Market Segmentation
Global Energy Harvesting System Market by Technology
Light Energy Harvesting
Vibration Energy Harvesting
Radio Frequency (RF) Energy Harvesting
Thermal Energy Harvesting
Global Energy Harvesting System Market by Component
Transducers
Photovoltaic Transducer
Electrodynamic, Piezoelectric, and Electromagnetic Transducer
Thermoelectric Transducer
Radio frequency (RF) Transducer
PMIC (Power Management Integrated Circuit)
Secondary Battery
Global Energy Harvesting System Market by Application
Building & Home Automation
Consumer Electronics
Industrial
Transportation
Security
Global Energy Harvesting System Market 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
Global Energy Harvesting System Market by Region
Asia Pacific
China
Japan
India
Rest of APAC
North America
United States of America
Canada
Europe
United Kingdom
Germany
France
Spain
Rest of Europe
RoW
Brazil
South Africa
Saudi Arabia
UAE
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