PUBLISHER: Allied Market Research | PRODUCT CODE: 1040291
PUBLISHER: Allied Market Research | PRODUCT CODE: 1040291
The global energy harvesting system market was valued at $511.6 million in 2020, and is projected to reach $1,057.7 million by 2030, growing at a CAGR of 7.5% from 2021 to 2030.
Energy harvesting (energy scavenging) is the translation of ambient energy, which is derived from external resources existing in the atmosphere into electrical energy.
Growth of the global energy harvesting system market is driven by escalating demand for energy across transportation and building & home automation. Growth in population has increased demand for energy consumption. In addition, technological advancements in sensor-based energy harvesting systems and energy efficient harvesting components drives growth of the global market. In addition, energy that is available in environment is wasted directly or indirectly. Thus, ability of these systems to capture this energy and convert that into electrical energy that can be further used in autonomous electronic devices or circuits also propels growth of the global energy harvesting system market. The harvested energy can be further used in electrical utilities that consume minimal energy such as sensors, watches, and other home appliances.
However, underneath recurrent environmental power and unavailability of high-powered energy harvesting systems that are not designed to be operate efficiently under varying operating conditions is expected to restrain growth of the energy harvesting system market during the forecast period.
Growth in importance and several research & development activities are being carried out on energy harvesting application. For instance, application of energy harvesting system such as wireless sensor nodes that are used in the healthcare sector and implanted sensor nodes that are used in medical applications are gaining importance. In addition, technological advancements in the automotive sector has led to development of tire pressure monitor. This device is also another example that works on principle of energy harvesting technique. This factor is anticipated to open up new opportunities in the market.
The global energy harvesting system market analysis is done on the basis of technology, component, application, and region. Depending on technology, the market is divided into light energy harvesting, vibration energy harvesting, radio frequency energy harvesting, and thermal energy harvesting. On the basis of component, it is fragmented into energy harvesting transducers, power management integrated circuits (PMIC), and storage systems. The application covered in the study include building & home automation, consumer electronics, industrial, transportation, and others. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The global static VAR compensator market profiles leading players that include Cymbet Corporation, Cedrat Technologies SA, Tekceleo, ZF Friedrichshafen AG, Physik Instrumente (PI) GmbH & Co. KG, Advanced Linear Devices Inc., Mide Technology Corporation, Powercast, Xidas, and Analog Devices.
The global energy harvesting energy market report provides in-depth competitive analysis as well as profiles of these major players.
Key players in the global energy harvesting system market are:
SOURCE: COMPANY WEBSITE, ANNUAL REPORT, SECONDARY RESEARCH, AND AMR ANALYSIS