The global energy harvesting system market is estimated to be valued at USD 456.3 million in 2020 and is expected to reach USD 684.3 million by 2027, growing at a CAGR of 8.8% during 2021-2027.
The market is driven by factors such as excessive demand for durable, safe and power-efficient systems that necessitate the least amount of maintenance along with increasing initiatives undertaken by government authorities towards green energy.
The market for energy harvesting system market is primarily driven by the exaggerating emphasis on energy harvesting from various sources such as wind, solar and thermal power along with excessive efforts from various government organizations to drive the utilization of renewable energy sources. The increasing procedures for diminishing of carbon footprints worldwide is another factor pertaining towards the growth of global energy harvesting system market.
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On the basis of application, energy harvesting system market is classified into Industrial, Building and Home Automation, Consumer Electronics, Security, and Transportation. Of all these applications, building and home automation is observing increasing demand in the energy harvest system market across the globe. Extensive increase in installation and execution of sensor-based techniques along with increase in demand for energy proficient power systems from commercial domain to residential domain.
Europe accounted for the major share in the Energy Harvesting System industry globally as growth of energy harvesting system market in this region is attributed towards widespread adoption of this system in automotive domain for the establishment of both commercials as well as passengers’ car segment. Moreover, Asia-Pacific is expected to witness the highest CAGR during the forecast period owing to exaggerated growth in both manufacturing as well as construction domain in various emerging countries of this region.
Globally industry players operating in energy harvesting system market are leveraging market growth by launching new products in the market that is further enhancing their products portfolio. For instance, EnOcean GmbH launched self-powered wireless sensors in IoT for energy harvesting solutions that are based upon standardized specifications.
The key players operating in the energy harvesting system market include Fujitsu Group, Arveni, Cymbet Corporation, Convergence Wireless, Powercast Corporation, Honeywell International Inc., Texas Instruments Incorporated, STMicroelectronics N.V., ABB Ltd., Bionic Power, Inc., Energy Partners, Yantra Harvest Energy Private Limited, and EnOcean GmbH.
Global Energy Harvesting System Market Coverage
Technology Insight and Forecast 2015 – 2027
Component Insight and Forecast 2015 – 2027
Application Insight and Forecast 2015 – 2027
Energy Harvesting System Market by Region
Rest of the World (RoW)