Energy harvesting systems extract energy from ambient sources like solar, thermal or wind. These systems convert energy into usable electric energy that can be utilized to power batteries and operate electronic devices in a self-sustaining manner without the need for an external power source. Energy harvesting solutions help reduce dependency on batteries and provide an eco-friendly alternative to power electronic devices.
The global Energy Harvesting System market is estimated to be valued at US$ 571.46 Mn in 2023 and is expected to exhibit a CAGR of 7.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the Energy Harvesting System market is the rising adoption of vibration-based energy harvesting solutions. Vibration-based energy harvesters capture energy from ambient mechanical vibrations and convert it into electrical energy. They utilize piezoelectric or electromagnetic technologies to generate power. These solutions are gaining popularity for powering wireless sensors, IOT devices and industrial equipment where perpetual vibration is readily available as an energy source. Advancements in frequency upconversion techniques and efficient packaging of piezoelectric materials are helping improve the power output of vibration-based energy harvesters, thereby fueling their adoption.
Segment Analysis
The global Energy Harvesting System market is dominated by the vibration energy harvesting segment. Vibration energy harvesting involves the extraction of energy from vibrations or mechanical motion in order to power small electronic devices. This segment currently holds over 40% share of the overall market owing to the wide application of vibration-based energy harvesting in IoT sensors, wearable electronics, and wireless sensor networks. The demand for self-powered small electronic devices is driving the adoption of vibration energy harvesting systems.
Key Takeaways
The Global Energy Harvesting System Market Growth is expected to witness high growth, exhibiting CAGR of 7.7% over the forecast period, due to increasing demand for alternative energy sources.
Regional analysis - North America currently dominates the global market, accounting for over 30% share due to high adoption of energy harvesting technologies across industries such as aerospace & defense and automotive in the US and Canada. Asia Pacific is expected to be the fastest growing region exhibiting a CAGR of around 9% during the forecast period due to presence of emerging economies like China and India with growing electronics industry.
Market size - The global Energy Harvesting System market size stood at US$ 571.46 Mn in 2023 and is projected to reach over US$ 1 Bn by 2030. The rising need for powering wireless sensors and IoT devices from ambient energy sources is driving the market growth.
Key players - Key players operating in the Energy Harvesting System market are Piezo.com, Microchip Technology Inc., Cypress Semiconductor Corporation, EPeas SA, Texas Instruments Incorporated, EnoCean GmbH, STMicroelectronics NV, ABB Limited, Analog Devices Inc., Powercast Corporation, and Advanced Linear Devices Inc. Major players are focusing on product development to harvest energy from new sources like thermal and light.
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The semiconductor & electronics reports are formed by Market Research Future, which presents market options for progress.
An intensifying CAGR is estimated to shape the global energy harvesting system market in the impending period.The inclination of the general population towards energy conservation is estimated to expand the energy harvesting technologies market.
Also, the focus on safe and durable power sources development is predicted to create a novel scope for expansion in the energy harvesting system market.Competitive Analysis The backing from administrative bodies around the world is escalating because the market requires an additional impetus to attain regularity in such a situation.
The stress on modernization is appraised to see an upswing in the coming years, as the user requirements have to be tackled in an improved manner to safeguard the revival of the worldwide market.
The conflict in the forces of demand and supply is appraised to produce a measured development context in the market.The eminent contenders in the energy harvesting system market include Fujitsu (Japan), Honeywell International Inc.(U.S.), STMicroelectronics (Switzerland), Siemens AG (Germany), Microchip Technology Inc. (U.S.), ABB Limited (Switzerland), Convergence Wireless (U.S.), Cymbet Corporation (U.S.), and Texas Instruments (U.S.) among others.Get Free Sample Report@ https://www.marketresearchfuture.com/sample_request/1167Segmental Analysis The segmental investigation of the energy harvesting system market is carried out on the basis of components, methods, sensors, application and region.Based on the components, the energy harvesting system market is segmented into batteries, solar cells, capacitors, transistors, controllers, and switches, among others.Based on the methods, the energy harvesting system market is segmented into photovoltaic, vibration, and thermal, among others.Based on the sensors, the energy harvesting system market is segmented into pressure, humidity, temperature, and IR, among others.The application-based segmentation of the energy harvesting system market comprises of automation, consumer electronics, industrial, and transportation, among others.Based on the regions, the energy harvesting system market is segmented into the Americas, Europe, the Middle East, Asia Pacific and Africa.Detailed Regional Analysis The regional review of the energy harvesting system market is segmented into the Americas, Europe, the Middle East, Asia Pacific and Africa.
The extraordinary growth in the arena of technology and substantial investment by the vital companies in research and development and new product introductions are some of the foremost factor backing up the market development.
Energy Harvesting System Global Market - OverviewEnergy Harvesting is a process of collecting minute amount of energy from one or more of naturally occurring energy sources such as solar, wind or water and use them later in the different application areas.
Heavy investment by the key companies have also led to the advancement in the microprocessors technology leading to maximum efficiency of the processors and optimum utilization.
There are various companies who is working constantly in the development of energy harvesting components and products such as sensors, wireless nodes and high-capacity batteries.
Recently, Tesla have also started working on the new generation solar panels which can be deployed on the roof of any building and can collect solar energy.Get Free Sample Report:https://www.marketresearchfuture.com/sample_request/1167Key Players:ABB Limited (Switzerland), Fujitsu (Japan), Honeywell International Inc.(U.S.), Siemens AG (Germany), Microchip Technology Inc. (U.S.), Convergence Wireless (U.S.), Cymbet Corporation (U.S.), STMicroelectronics (Switzerland), and Texas Instruments (U.S.) among others are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the global Energy Harvesting System market.
The new X-FAB eFlash IP block is targeted at replacing standalone NVM memories and embedded One-Time-Programmable (OTP) memories in low power applications, enabling onsite program code updates.
This means that it is highly suited to energy harvesting and remotely located Internet-of-Things (IoT) devices, where power constraints and harsh environments need to be dealt with, but field re-programmability must be offered at a low cost.December, 2017, Samsung has patented smart clothing that is able to harvest energy for powering personal gadgets or embedded sensors.
Market DynamicsThe market for energy harvesting system is projected to grow at a staggering CAGR during the forecast period (2016-2022), reports Market Research Future (MRFR).An energy harvesting system comprises an electronic circuit, sensing elements (sensors and transducers), and a storage unit.
This system uses unconventional energy sources to charge the transducer, which is then converted into electricity and stored in the battery unit.
The system also possesses a complementary electronic circuit which manages the generated power and protects the storage unit and primary circuitry.Get Free Sample Copy of Report @ https://www.marketresearchfuture.com/sample_request/1167Drivers and RestraintsExpansion of the global energy harvesting system market is mainly owing to the growing adoption of energy harvesting systems in remote locations to prevent power interruptions and enhance the reliability of an electronic system.
Energy harvesting systems utilize residual energy in the atmosphere to convert it into a usable form of energy.Also, growing measures to reduce carbon footprints, reduced dependence on fossil fuels, increasing adoption of Internet of Things (IoT) and big data, and accelerated demand for power-efficient systems are some of the key factors driving the growth of the market.However, the process of conversion done by the system is complex and requires a precise system to effectively harvest energy; a factor can increase the cost of deployment of these systems.
To illustrate the point, in January 2018, EnOcean GmbH unveiled self-powered wireless sensors for energy harvesting solutions in IoT.
It is based on the company's Bluetooth and sub 1 GHz band (ISO/IEC 14543-3-1x) wireless standards.Key PlayersSome of the major players in Global energy harvesting system market include ABB Limited (Switzerland), Fujitsu (Japan), Honeywell International Inc.(U.S.), Siemens AG (Germany), Microchip Technology Inc. (U.S.), Convergence Wireless (U.S.), Cymbet Corporation (U.S.), STMicroelectronics (Switzerland), and Texas Instruments (U.S.) among others.Market Segmentation:By Components, the global energy harvesting system market has been segmented into transistors, controllers, solar cells, capacitors, batteries, switches, and others.By method, the energy harvesting system market has been segmented into vibration, photovoltaic, thermal, and others.By Sensors, the global energy harvesting system market has been segmented into temperature, pressure, humidity, IR, and others.By application, the energy harvesting system market has been segmented into automation, consumer electronics, industrial, transportation, and others.Regional Analysis:By region, the global energy harvesting system market has been segmented into North America, Europe, Asia, and the Rest of the World (RoW).
