Global Energy Harvesting Systems Market Size, Status and Forecast 2021-2025
The Energy Harvesting Systems Market report provides a unique tool for evaluating the market, highlighting opportunities, and supporting strategic and tactical decision-making. This report recognizes that in this rapidly-evolving and competitive environment, up-to-date Marketing information is essential to monitor performance and make critical decisions for growth and profitability. It provides information on trends and developments and focuses on market capacities and on the changing structure of the Energy Harvesting Systems.
The energy harvesting systems market was valued at USD 440.39 million in 2019, and it is expected to reach a value of USD 817.2 million by 2025, at a CAGR of 10.91%, over the forecast period (2020-2025).
– Energy harvesting systems are primarily used in low-powered electrical utilities, such as sensors, watches, and home appliances. These systems provide an efficient alternative to conventional power sources, like batteries.
– There has been an increasingly high usage of batteries, globally. According to the EPBA, about 225,000 metric ton or an estimated 11 billion portable batteries are being reportedly used in the market, currently. The usage of batteries has been potentially harmful to the environment and it is also a wastage of resources.
– The incorporation of energy harvesting systems in many electronic devices is expected to reduce the need for a constant status check on the batteries, and dependence on batteries for power supply and the cost associated with each change.
– The emergence of tire pressure management systems (TPMS) in automobiles has further emphasized the need for energy harvesting systems as they can be used to power up the small electric components like sensors in it. According to a report by NHTSA, 23.1% of the vehicles had at least one of the tires severely under inflated. Electric vehicles are also expected to have high growth in the future which will drive the market for energy harvesting systems.
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Top Leading Companies of Global Energy Harvesting Systems Market are Microchip Technology Inc., Fujitsu Limited, EnoCean GmbH, ABB Limited, Cymbet Corporation, Qorvo, Inc, Honeywell International Inc., STMicroelectronics NV, Texas Instruments Incorporated, Siemens AG, Schneider Electric SE and others.
Industry News and Updates:
– June 2018 – Microchip launched, PL360B, a flexible PLC modem. Designed to address PLC protocols such as ITU G.9903 (G3-PLC) and ITU G.9904 (PRIME), CENELEC, FCC and ARIB compliant applications, the PL360B belongs to the company’s smart energy product portfolio. The PL360B modem has the ability to include PLC interface to any end-customer application including smart meters, lighting, home automation, building automation and remote control.
Key Market Trends:
Building and Home Automation to Witness High Growth
– The building and home automation application of the energy harvesting systems market is likely to grow at a significant rate over the forecast period, due to the increasing adoption of energy harvesting devices in building and smart home devices in the American and European region.
– The emergence of wireless sensors networks is a major breakthrough in the energy systems market. Recent advancements in energy harvesting (EH) technologies enable wireless sensor network (WSNs) to extend their lifetime, by utilizing energy that is readily available through natural resources.
– Power manager in these devices manages the energy harvested and node supply. This device measures the energy that is harvested from daylight or artificial light, and checks for the consumption and available energy, and evaluates them according to the usage time and seasons (summers and winters). This harvested energy is put to use by controlling the home automation using WSNs.
North America to Hold the Largest Market Share
– With the ongoing rapid technological developments in the North American region, it became the most critical market for building and home automation investments, which use renewable energy, and thus, drive the growth of the energy harvesting systems market.
– The United States accounted for most of the revenue in the North American region. The market is also expected to witness substantial growth, due to the flourishing industrial and transportation sector, which is impacted by the administration, to make the country an energy independent state.
– The North American market is also witnessing high adoption of industrial IoT, as compared to the other regions, which is also driving the market for energy harvesting systems.
– This growth is further aided by government initiatives to decrease energy emission from old and public buildings. For instance, the US General Services Administration has entered into a contract with IBM to install advanced and smart building technology in 50 of the federal government’s highest energy-consuming buildings.
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Highlights of the Energy Harvesting Systems Market Report:
– Detailed overview of Energy Harvesting Systems Market
– Changing the Energy Harvesting Systems market dynamics of the industry
– In-depth market segmentation by Type, Application, etc.
– Historical, current and projected Energy Harvesting Systems market size in terms of volume and value
– Recent industry trends and developments
– Competitive landscape of Energy Harvesting Systems Market
– Strategies of key players and product offerings
– Potential and niche segments/regions exhibiting promising growth.
The research includes historic data from 2016 to 2021 and forecasts until 2025 which makes the report an invaluable resource for industry executives, marketing, sales, and product managers, consultants, analysts, and stakeholders looking for key industry data in readily accessible documents with clearly presented tables and graphs.
Finally, the Energy Harvesting Systems Market report is the believable source for gaining the market research that will exponentially accelerate your business. The report gives the principle locale, economic situations with the item value, benefit, limit, generation, supply, request, and market development rate and figure, and so on. Energy Harvesting Systems industry report additionally Presents a new task SWOT examination, speculation attainability investigation, and venture return investigation.
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