Energy Harvesting System Market

Market Overview:

The global energy harvesting system market reached a value of US$ 425.7 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 867.4 Million by 2027, exhibiting at a CAGR of 12.8% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.

Energy harvesting (EH), also known as energy scavenging, refers to the process of converting ambient energy, like solar, vibration, thermal, wind and radio frequency, into electrical energy. EH systems eliminate the need for conventional power sources, such as batteries and power cables, thereby reducing the overall cost and can easily power remotely located electronic devices, sensor networks and wearable electronics. Moreover, these systems are durable, easy-to-use, require low maintenance and aid in reducing carbon emissions.

EH systems are being employed in building and home automation, industrial and security applications across the globe. This trend, coupled with the escalating demand for efficient and safe power systems, represents one of the key factors driving the energy harvesting system market growth. As these systems are majorly utilized in consumer electronics, wireless sensors and wearable electronic equipment, the growth in these industries is further bolstering the demand of such systems. Apart from this, piezoelectric energy harvesting systems have emerged as a reliable solution for powering remote sensor systems. Furthermore, the integration of the internet of things (IoT) solutions is catalyzing the demand for energy harvesting systems across various end use industries. The easy availability of renewable energy sources, such as tidal and wind, is also resulting in the increasing utilization of energy harvesting systems in various industry sectors. In addition to this, governments of several countries are promoting the use of green energy sources, which is expected to create a positive influence on the market in the coming years.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global energy harvesting system market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on technology, component and application.

Breakup by Technology:

• Light Energy Harvesting
• Vibration Energy Harvesting
• Electromagnetic/Radio Frequency (RF) Energy Harvesting
• Thermal Energy Harvesting
• Others
   

Breakup by Component:

• Transducers
• Power Management IC (PMIC)
• Storage Unit
   

Breakup by Application:

• Consumer Electronics
• Building and Home Automation
• Transportation
• Healthcare
• Others
   

Breakup by Region:

• North America
  • United States
  • Canada
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

Competitive Landscape:

The report has also analysed the competitive landscape of the market with some of the key players being ABB Ltd., Analog Devices Inc., Cymbet, Cypress Semiconductor Corporation (Infineon Technologies AG), EnOcean GmbH, Fujitsu Limited (Furukawa Group), Honeywell International Inc., Microchip Technology Inc., Powercast Corporation, STMicroelectronics SA and Texas Instruments Incorporated.

Report Coverage:

Key Questions Answered in This Report:

• How has the global energy harvesting system market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the global energy harvesting system market?
• What are the key regional markets?
• What is the breakup of the market based on the technology?
• What is the breakup of the market based on the component?
• What is the breakup of the market based on the application?
• What are the various stages in the value chain of the industry?
• What are the key driving factors and challenges in the industry?
• What is the structure of the global energy harvesting system market and who are the key players?
• What is the degree of competition in the industry?