Friday 24 April 2020, Amsterdam
According to the new market research report, “Energy Harvesting System Market by Technology (Light, Vibration, RF, Thermal), Component, Application (Building & Home Automation, Consumer Electronics, Industrial, Transportation, Security), and Region - Global Forecast to 2025” is expected to grow from USD 0.4 billion in 2017 to USD 0.8 billion in 2025 —growing at a CAGR of 10.1%. Increasing trend for green energy and favorable initiatives by governments, rising adoption of wireless sensor network equipped with energy harvesting systems, and extensive implementation of IoT devices in automation and energy harvesting technology in building and home automation are some of the factors that will boost the market during the forecast period.
Light energy harvesting to dominate the energy harvesting system market during the forecast period
The light energy harvesting technology, especially the solar energy harvesting technology, held the largest market size and the same trend is likely to continue in the next few years owing to the increase in the manufacturing of solar-based products and the growing efficiency of photovoltaic cells. Americas will lead the light energy harvesting market during the forecast period due to the increasing government initiatives for green energy.
Transducers to be the fastest growing component for energy harvesting systems during the forecast period
Transducers convert ambient energy into electricity to power electronic devices. Transducers are designed using various technologies such as piezoelectric, photovoltaic, electromagnetic, radio frequency, and thermoelectric. Photovoltaic transducers are widely used in applications such as building automation, consumer electronics, military, infrastructure security, transport, and automobile and will drive the market for transducers during the forecast period.
Building, home & automation likely to be fastest growing application for the energy harvesting system market during the forecast period
The energy harvesting system are being installed in school classrooms for occupancy measurement and temperature control, in commercial buildings for automatic lighting systems, depending on the occupancy status, in hotels for smart power control, and in residential buildings for reducing energy consumption. The energy harvesting system also sends signals to the central building automation system (BAS) to remotely control the building systems. Increased adoption in Americas will drive the demand for these systems during the forecast period.
Americas to be the largest market for energy harvesting systems during the forecast period
The Americas includes the US, Canada, Mexico, and South America. This region is involved in the development and deployment of energy harvesting system. There is increasing usage of green energy in industrial, residential, and consumer verticals in North America. After building and home automation, industrial and transportation are the major applications using energy harvesting system. In North America, home automation and control technologies contribute more to the energy harvesting system market. The application of energy harvesting system extended to military, aerospace, and marine industries in North America.
Some of the major players in the energy harvesting system market are EnOcean GmbH (Germany), Powercast Corporation (US), Cymbet Corporation (US), General Electric (US), Linear Technology (US), Convergence Wireless (US), Mide Tecnhology (US), Microchip Technology Inc. (US), ABB Limited (Switzerland), Fujitsu Limited (Japan), STMicroelectronics (Switzerland), Honeywell International Inc. (US), Texas Instruments Incorporated (US), Lord Microstrain (US), Cypress Semiconductors Corporation (US), and Greenpeak Technology B.V. (Netherlands).
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