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Energy harvesting systems are the systems which use the unused naturally formed energy to produce electricity using various technologies. The stored energy is converted into electricity, which enables the power to be used later for multiple applications. The safe operation, low maintenance, and deployment in harsh conditions in which batteries can’t be used are the main advantages of the energy harvesting devices. In recent years the technological advancements have led to the invention of new wearable electronics where energy harvesting devices can recharge or power cell phones, radio communication equipment, mobile computers, etc.
The increased adoption of wireless sensor networking and internet of things(IoT) for control systems and home automation which implement sensors and energy harvesting devices have positively affected the growth of global energy harvesting system market. Increased adoption of renewable sources has been the major factor driving the growth of global energy harvesting systems. The steps taken by various countries to reduce the carbon footprints and greenhouse gas emissions has led to increased adoption of renewable sources of energy.
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Solar and wind energy are the most adopted amongst the available sources and energy harvesting systems market has also gained pace with increased use of these. Energy harvesting systems are being now adopted in various sectors such as automotive, aerospace, wireless sensor network, military, consumer electronics, industrial, building, bicycle dynamo, healthcare, and others.
On the basis of technology, the global energy harvesting system market is broadly classified into light energy harvesting, vibration energy harvesting, thermal energy harvesting, and radiofrequency energy harvesting. The growing adoption of solar due to abundant availability of sunlight has seen the light energy harvesting system hold a larger market share during the forecast period.
On the basis of its application, the global energy harvesting system market can be segmented into consumer electronics, building, and home automation, transportation, industrial, and others. The consumer electronics and the building and home automation segments have witnessed a significant growth in the market owing to the increased awareness regarding energy conservation.
The increasing adoption of renewable sources of energy such as solar, wind, tidal, ocean, and others is the key factor driving the growth of global energy harvesting system market. The government support to reduce the carbon footprints and increased adoption in home appliances are also driving the growth of the global energy harvesting system market.
The high upfront cost indulged in manufacturing of the energy harvesting systems acts as a key market restraint for the global energy harvesting system market. Also, the lack of consumer awareness and technical expertise regarding the energy harvesting systems hinder the growth of global energy harvesting system market.
The key players in the global energy harvesting system market are EnOcean, Power Costs, Inc, Cymbet Corporation, GE, Linear Technology, Convergence Inc., Mide Technology Corporation, Microchip Technology Inc., ABB, Fujitsu Global, STMicroelectronics, Honeywell, Texas Instruments, LORD Corporation, Cypress Semiconductor Corporation, and GreenPeak Technologies.
The global energy harvesting system market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. The North America region holds the largest market share in the global energy harvesting system market. The USA has been the dominant country in the region owing to the increased adoption of energy harvesting systems in the building and home appliances. The energy generation using renewable sources has also grown in the region. There has also been growth in the industrial and automotive sector in the country. These all factors collectively haves seen the USA emerge as the largest market for the energy harvesting systems. The increased adoption of solar, specifically in Europe, has added to the growth of the energy harvesting system market. The government initiatives to reduce the carbon emissions and increased adoption in consumer electronics have been the driving factor for the growth of the energy harvesting system market in the Asia Pacific region. Latin America and the Middle East region will see moderate growth in the energy harvesting system market with the adoption of renewables sources energy.
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