Energy Harvesting System Market Size 2022-2027: Industry Trends, Share, Growth, Opportunity and Forecast
Energy Harvesting System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027
SHERIDAN, WY, UNITED STATES, February 11, 2022 /EINPresswire.com/ -- According to the recent report by IMARC Group, titled “Energy Harvesting System Market ” Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” The global energy harvesting system market size1 reached a value of US$ 425.7 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 867.4 Million by 2027, exhibiting at a CAGR of 12.8% during 2022-2027.
Report Metric
Historical: 2016-2021
Base Year: 2021
Forecast Year: 2022-2027
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 electronic2 devices, wearable electronics, and sensor networks. These systems are easy to use, durable, require low maintenance, reduce carbon emissions, etc.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Energy Harvesting System Market Trends:
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 green3 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.
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Global Energy Harvesting System Market 2022-2027 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
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 and Texas Instruments Incorporated.
The report has segmented the market on the basis on region, technology, component and application.
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: (United States, Canada)
Asia Pacific: (China, Japan,India, South Korea, Australia, Indonesia, Others)
Europe: (Germany, France,United Kingdom, Italy, Spain, Russia, Others)
Latin America: (Brazil, Mexico, Others)
Middle East and Africa
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IMARC Group
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1 https://bit.ly/3BiZeUm
2 https://bit.ly/3BcRftM
3 https://bit.ly/3HMcMM7
