Energy Harvesting Systems Market – Growing Demand for Sustainable and Green Energy and Rising Awareness of Energy Efficiency are the factors propelling the market growth.
According to TechSci Research report, “Global Energy Harvesting Systems Market – Industry Size, Share, Trends, Competition Forecast & Opportunities, 2029”. Global Energy Harvesting Systems is anticipated to project robust growth in the forecast period with a CAGR of 9.37% through 2029. Energy harvesting, also referred to as power harvesting or energy scavenging, involves deriving energy from external sources, with ambient energy serving as the primary energy source for these systems. It is abundantly available in the environment without cost.
Factors such as the widespread adoption of IoT devices in automation, urban expansion, increasing demand for reliable and sustainable systems, growing interest in green energy, and government support are expected to drive market growth. Energy harvesting systems find extensive application in low-power electrical utilities like sensors, watches, and home appliances, offering an efficient alternative to traditional power sources such as batteries. Additionally, supportive government policies and heightened environmental awareness, coupled with efforts to reduce greenhouse gas emissions, contribute to the rising demand for such technologies.
Utilizing energy harvesting systems offers several advantages, including prolonged device operation without adverse environmental impacts. Solar, thermal, and vibrational energies are the most commonly utilized forms among various ambient energy sources, which also include light, radiofrequency, kinetic, chemical, and biological energies.
These systems are particularly deployed in applications necessitating backup batteries, especially when the primary battery is located in remote or inaccessible areas. Optimal signal transmission requires close proximity between transmitters and receivers in energy harvesting systems. However, collecting data at a central receiver becomes challenging when sensors are deployed in remote locations.
Based on Application, Consumer Electronics segment is expected to hold the largest share of Energy Harvesting Systems market for during the forecast period, Energy harvesting systems are increasingly integrated into consumer electronics like wearables, smartphones, remote control units, and wireless appliances, among others. These systems enable devices to function even in areas lacking conventional power sources, extending their utility and removing geographical limitations.
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For example, energy harvesting systems in remote control units harness power from user button presses, as demonstrated by ARM with their low-power ARM Cortex-M0+ processor. The captured energy finds applications in various wireless devices, body implants, wearables, and other low-power consumption applications. Even if the harvested energy isn’t sufficient to fully power the device, it can still augment conventional batteries, prolonging their lifespan.
Additionally, researchers at the Chinese University of Hong Kong have developed a device capable of harvesting energy from the human knee during walking without imposing significant additional effort on wearers. This demonstrated device generates up to 1.6 mW of power without markedly altering breathing patterns. The increasing proliferation of connected devices and the demand for cost-effective and reliable energy sources are driving the adoption of energy harvesting systems in the consumer electronics industry.
Based on Region, North America will dominate the market, Due to the region’s ongoing and rapid technical advancements, North America has emerged as a pivotal market for investments in building and home automation, driving the demand for energy harvesting systems that leverage renewable energy sources. The United States accounts for the majority of the region’s revenue, driven by government initiatives aimed at achieving energy independence and the flourishing industrial and transportation sectors. Compared to other markets, North America witnesses a high adoption rate of industrial IoT, further fueling the demand for energy harvesting systems.
Government programs targeting energy emissions reduction in public buildings have also spurred industry growth. For example, through a partnership with IBM, the U.S. General Services Administration plans to equip 50 of the federal government’s most energy-intensive buildings with advanced smart building technology. Furthermore, the launch of smart cities initiatives has reshaped the local market landscape, promoting collaboration and knowledge sharing among cities, businesses, and academic institutions involved in smart city development nationwide, along with offering various grants and funding packages to support these efforts.
Key market players in the Global Energy Harvesting Systems Market are following: –
- Microchip Technology Inc.
- E-Peas SA
- EnoCean GmbH
- ABB Limited
- Powercast Corporation
- Advanced Linear Devices Inc
- Analog Devices Inc
- STMicroelectronics NV
- Texas Instruments Incorporated
- Cypress Semiconductor Corporation
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“The Energy Harvesting Systems Market is propelled by various factors highlighting the growing significance of sustainable and efficient energy solutions. Increasing global consciousness regarding energy efficiency and environmental issues drives the demand for alternative power sources. Technological advancements, such as enhancements in energy harvesting efficiency and cost-effectiveness, play a significant role in market expansion. The integration of energy harvesting systems with wireless sensor networks and the Internet of Things (IoT) addresses the rising demand for self-sustaining power in interconnected devices. Government initiatives and incentives promoting the adoption of renewable energy further stimulate market growth.
The proliferation of energy harvesting applications across industries, spanning from industrial automation to wearable electronics, underscores the versatility and increasing adoption of these systems in diverse sectors. As the world embraces a greener future, the Energy Harvesting Systems Market continues to evolve under the influence of these dynamic factors, fostering innovation and sustainability across various domains.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
Energy Harvesting Systems Market – Global Industry Size, Share, Trends, Opportunity, and Forecast Segmented by Technology (Light Energy Harvesting, Vibration Energy Harvesting, Thermal Energy Harvesting, and RF Energy Harvesting), Application (Consumer Electronics, Building, and Home Automation, Industrial, Transportation), By Region, By Competition 2019-2029 has evaluated the future growth potential of Global Energy Harvesting Systems Market and provides statistics and information on market structure, size, share, and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities present in the Global Energy Harvesting Systems Market.
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