Energy Harvesting System Market is growing at a considerable CAGR of 8.0% during the forecast period. Increasing research activity, rising expenditure in infrastructure development are considered as the prime factors affecting and driving the market. Additionally, the increasing focus associated with energy harvesting system adoption in a rural area along with growing favorable initiatives by governments, are also estimated to be the key factors that are contributing significantly towards the growth of the market. However, the high cost of investment is the major factor constraint that is hindering the growth of the global energy harvesting system market.
Moreover, increasing benefits from the adoption of sensors in wearable electronics is one of the key factors that are creating opportunities in the market. New product launches in the market are likely to drive the growth of the global energy harvesting system market. For instance, in May 2021, EnOcean GmbH that is considered as one of the developers of energy harvesting wireless technology had introduced the PTM 535BZ module that is regarded as its new range of transmitter modules for battery-free switch applications.
The global energy harvesting system market is segmented based on technology and end-user. Based on technology, the market is segmented into Light energy harvesting, Vibration energy harvesting, Radio frequency energy harvesting, and Thermal energy harvesting. Further, based on end-user the market is segmented into Building and home automation, Consumer electronics, Industrial, Transportation & Logistics, and other (Security).
Based on the technology segment, building and home automation hold a significant share in the market. This is owing to the increasing usage of the Internet of Things (IoT) along with wireless sensor networking. Additionally, the implementations of power-efficient systems along with growing awareness about green and clean energy are some other factors that are driving the growth of the segment in the market.
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Energy Harvesting System Market Segmentation
By Technology
- Light energy harvesting
- Vibration energy harvesting
- Radio frequency energy harvesting
- Thermal energy harvesting
By End-User
- Building and home automation
- Consumer electronics
- Industrial
- Transportation & Logistics
- Other (Security)
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Regional Analysis
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
Company Profiles
- II-VI Inc.
- ABB Ltd.
- Analog Devices, Inc.
- Bionic Power Inc.
- Cymbet
- Cypress Semiconductor Corp.
- EnOcean GmbH.
- e-peas
- FUJITSU
- G24 Power Ltd.
- Nowi B.V.
- Schneider Electric
- STMicroelectronics
- Texas Instruments Inc.
- Powercast Corp.
- Voltree Power, Inc.
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