The energy harvesting system market is estimated to be worth USD 468 million in 2021 and is projected to reach USD 701 million by 2026, at a CAGR of 8.4 %. The growing demand for safe, power-efficient, and durable systems that require minimum or no maintenance, surging implementation of IoT devices in automation and energy harvesting systems for building and home automation, increasing trend for green energy and favorable initiatives by governments, rising adoption of wireless sensor networks equipped with energy harvesting systems are some of the prominent factors for the growth of the energy harvesting system market globally.
The market for light energy harvesting technology could grow at the highest CAGR during the forecast period The light energy harvesting technology segment, especially the solar energy harvesting technology segment, held the largest market size in 2020, and the same trend is likely to continue in the next few years owing to the increase in the manufacturing of solar-based products and the growing efficiency of photovoltaic cells.Solar energy is the most widely available natural resource that can be easily converted into electricity.
The vibration energy harvesting segment is expected to account for the second-largest share of the market owing to the use of products such as piezoelectric devices in various applications, such as industrial and transportation.
The market for transducer component is estimated to account for the largest share during the forecast period in the energy harvesting system market The table shows that transducers led the energy harvesting market, followed by secondary batteries, and a similar trend is likely to continue in the near future.Transducers being costlier than PMICs and batteries, account for the largest size for the energy harvesting system market.
Transducers can be used as a standalone device or can also be used with other components. The energy harvesting system market in the Americas is expected to witness robust growth during 2021-2026
The Americas includes the US, Canada, Mexico, and South America.This region is involved in the development and deployment of energy harvesting systems.
There is increasing use of green energy in industrial, residential, and consumer verticals in North America.After building and home automation, industrial and transportation are the major applications using energy harvesting systems.
For instance, California decided to run an experiment on heavy traffic, which is likely to be fitted with piezoelectric transducers. These transducers convert the vibration energy generated by vehicles (both stationary and in motion), into electricity that can be used as a power source for buildings, homes, and streetlights.
The breakup of primaries conducted during the study is depicted below: • By Company Type: Tier 1 – 30 %, Tier 2 – 40%, and Tier 3 –30% • By Designation: C-level executives– 40%, Directors – 35%, and Others – 25% • By Region: Americas– 50%, Europe – 25%, APAC – 15%, and RoW – 10% The major players in the energy harvesting system market are ABB (Switzerland), Linear Technology (US), Convergence Wireless (US), Cymbet (US), EnOcean (Germany), Fujitsu (Japan), Honeywell (US), ST Microelectronics (Switzerland), Powercast Corporation (US) and Texas Instruments (US).
Research Coverage The report segments the energy harvesting system market and forecasts its size, by volume and value, based on region (Americas, Europe, Asia Pacific, and RoW), 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), technology (light energy harvesting, vibration energy harvesting, radio frequency energy harvesting and thermal energy harvesting), component (transducers, power management integrated circuits and secondary batteries), application (building and home automation, consumer electronics, industrial, transportation and security. The report also provides a comprehensive review of market drivers, restraints, opportunities, and challenges in the energy harvesting system market. The report also covers qualitative aspects in addition to the quantitative aspects of these markets.
Key Benefits of Buying This Report • This report includes the market statistics pertaining to technology, application, end-use system, component and region • An in-depth value chain analysis has been done to provide deep insight into the energy harvesting system market. • Major market drivers, restraints, challenges, and opportunities have been detailed in this report. • The report includes an in-depth analysis and ranking of key players.
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