IMARC Group, a leading market research company, has recently releases report titled “Energy Harvesting System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” The study provides a detailed analysis of the industry, including the global energy harvesting system market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights
How big is the energy harvesting system market?
The global energy harvesting system market size reached US$ 480.6 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 969.2 Million by 2028, exhibiting a growth rate (CAGR) of 12.6% during 2023-2028.
What is an energy harvesting system?
Energy harvesting (EH), or energy scavenging, is the process of converting ambient energy, such as solar, vibration, thermal, wind, etc., into electrical energy. Energy harvesting systems eliminate the need for conventional power sources, including power cables and batteries, thereby reducing the overall cost and easily power remotely located electronic devices, wearable electronics, and sensor networks. These systems are easy to use, durable, require low maintenance, reduce carbon emissions, etc.
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What are the growth prospects and trends in the energy harvesting system industry?
The growing demand for efficient and safe power systems is one of the key factors driving the energy harvesting system market. These systems are majorly utilized in wireless sensors, consumer electronics, wearable electronic equipment, etc., which is another growth-inducing factor. In addition to this, government bodies of numerous countries across the globe are promoting the use of green energy sources, further propelling the market growth. Moreover, the easy availability of renewable energy sources, such as wind and tidal, also results in the increasing utilization of these systems across various sectors. Besides this, piezoelectric energy harvesting systems have emerged as a reliable solution for powering remote sensor systems, thereby creating a positive outlook for the market. Furthermore, the incorporation of the Internet of Things (IoT) solutions with energy harvesting systems is anticipated to fuel the global market over the forecasted period.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Technology:
- Light Energy Harvesting
- Vibration Energy Harvesting
- Electromagnetic/Radio Frequency (RF) Energy Harvesting
- Thermal Energy Harvesting
- Others
Breakup by Component:
- Transducers
- Power Management IC (PMIC)
- Storage Unit
Breakup by Application:
- Consumer Electronics
- Building and Home Automation
- Transportation
- Healthcare
- Others
Breakup by Region:
- North America (U.S. Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
- Latin America (Brazil, Mexico)
- Middle East Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- ABB Ltd.
- Analog Devices Inc.
- Cymbet
- Cypress Semiconductor Corporation (Infineon Technologies AG)
- EnOcean GmbH
- Fujitsu Limited (Furukawa Group)
- Honeywell International Inc.
- Microchip Technology Inc.
- Powercast Corporation
- STMicroelectronics SA
- Texas Instruments Incorporated.
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