Global Energy Harvesting Market is valued at USD 467.1 Million in 2020 and expected to reach USD 881.7 Million by 2027 with a CAGR of 9.5% over the forecast period.
LONDON, May 12, 2021 /PRNewswire/ -- Global Energy Harvesting Market Global Size, Trends, Competitive, Historical & Forecast Analysis, 2021-2027- The increasing demand for power efficient and durable System has led to the rise in demand for energy harvesting and driving the growth of Global Energy Harvesting Market.
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Scope of Global Energy Harvesting Market Report:
Energy harvesting is the process by which energy is obtained from external sources, and then it is then captured and stored. This is usually done for small, wireless autonomous devices such as wearable electronics as well as wireless sensor networks. This system typically provides less energy for low-energy electronics and includes electronic circuitry to manage and protect storage units. The power extraction system consists of an electronic circuit, sensing components (sensors and transducers), and a storage unit. The energy storage system uses unconventional energy sources to charge the transducer, which is converted into electricity and stored in the battery unit. The system also has a supplementary electronic circuit to manage the generated energy and to protect the storage unit and primary circuitry. Sensing elements act as a converter that converts the physical form of energy (heat, light, pressure, vibration, radiofrequency, salinity gradients, among others) into electrical energy. This electrical energy is stored in storage devices such as thin-film capacitors, ultra capacitors, super capacitors, or battery arrays, or is used to power low-power electronic circuits. Furthermore, the energy harvesting guarantees maintenance-free energy, durability, low carbon emissions, and easy-to-use solutions. These System are very well organized to compensate for the energy crisis. They are widely used in consumer equipment, medical equipment, transportation, industrial controls, and the military. Vibration or pressure, radio energy, temperature differences are examples of energy sources. Its wide application is also in low-energy electronic devices, in the automotive industry, and many others.
Global energy harvesting market report is segmented on the basis of technology, component, application and region & country level. Based upon technology, global harvesting market is light energy harvesting, vibration energy harvesting, electromagnetic/radio frequency (RF) energy harvesting and, thermal energy harvesting. Based upon component, the market is divided into transducers, PMIC and, secondary batteries. Based upon applications, global harvesting market is divided into building & home automation, consumer electronics, industrial, transportation, and security.
Global Energy Harvesting System Market Segmentation:
- Light Energy Harvesting
- Vibration Energy Harvesting
- Electromagnetic/Radio Frequency (RF) Energy Harvesting
- Thermal Energy Harvesting
- Secondary Batteries
- Building & Home Automation
- Consumer Electronics
Key Players for Global Harvesting System Market Report
Some of the key players for global energy harvesting system market are ABB, EnOcean GmbH., Power Costs, Inc., STMicroelectronics, Cymbet, Honeywell International Inc., Microchip Technology Inc., General Electric, Cypress Semiconductor Corporation., Parker Hannifin Corp, CONVERGENCE ENERGY LLC, Texas Instruments Incorporated., Mide Technology Corp., FUJITSU, ARVENI, Voltree Power Inc., Bionic Power Inc., Schneider Electric, Qorvo, Inc, Mouser Electronics, Inc, IDTechEx Ltd, and Silicon Laboratories among other domestic and others.
The outbreak of COVID-19 pandemic has created a bad situation for various industries. It affects the solar industry and its economy. As a result, the world market economy was going down for a while. This prevents the growth of the energy harvesting sensor facility. The current pandemic affects the lives of multiple people and businesses. Due to the which, different people are reluctant to invest in this industry for many reasons. No one wants to take sponsorship which slows down market growth and reduces revenue generation. Furthermore, the pandemic creates a variety of problems or challenging tasks across the globe including equipment shortages, labor shortages, and health and safety issues. Market income growth stopped due to a low source of income.
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News ZF has Invested in Membership of the EnOcean Alliance.
On May 17th, 2021; Sustainability is a high priority in the ZF group. To further support ZF's energy harvesting product portfolio, investments have been made to connect with the EnOcean Alliance. This is a strategic milestone in offering battery-free and wireless radio technology with the EnOcean 3.0 radio standard in the near future. Moreover, EnOcean Alliance was founded in 2008 and, as a non-profit company, plays a leading role in the development of maintenance-free and compatible wireless solutions for smart homes and smart buildings. Furthermore, The products are based on the EnOcean RF standard (ISO / IEC 14543-3-10 / 11), which is specifically designed for energy harvesting solutions. With more than 400 reputable members, wireless sensors with low energy consumption and energy harvesting solutions have been developed and marketed. The advantages are clear, no maintenance, simple installation without laying cables, energy, and CO2 savings, and low system costs.
The Increasing Demand for Power Efficient and Durable System is One of the Major Factors Driving the Market Growth.
The growing IoT trend is effectively increasing the need for wireless sensors and energy-efficient autonomous System in the global market. As a result, this will stimulate the need for efficient energy harvesting System which will reduce the need for battery charging thereby minimizing the overall cost. Consequently, IoT intervention for several industrial and non-industrial purposes elevates which helps to the energy harvesting market demand. For instance; According to the Consumers international organization globally, with the appearance of the Internet of Things (IoT) nearly four billion people joined the network of connected devices. IoT transformation has changed the energy-driven consumer electronic devices, thereby encouraging the utilization of efficient energy harvesting System throughout the globe. The worldwide energy harvesting market is gaining traction through wide application in various equipment like wearable, smartphones, wireless sensor networks (WSNs), and lots of others. There's a large gap between the energy required to work these devices and also the energy available in the global scenario. This implicates the requirement for harvesting energy to bridge the gap, consequently pushing forth the worldwide energy harvesting system market growth. Furthermore, the increasing demand for energy-efficient products, the priority given to renewable energy extraction, the construction of automated buildings and homes, and also the growing proliferation of electronic devices such as smart watches and smartphones are driving the demand for energy-efficient technologies affecting the growth of energy harvesting market.
However, requirement of high capital investment and a lack of awareness about this technology may limit the market growth. And , the absence of standards and protocols, including the limitations of remotely installed networking modules, can also be a big-time challenge for the market. In spite of that, growing number of technological advancements in this field may create more opportunities for its further growth.
North America is Anticipated to Dominate the Global Energy Harvesting System Market
North America is expected to dominate the global market owing to the increased adoption and application of energy harvesting System in buildings and home appliances in this region. Growth in the industrial and automotive sector has fueled the growth of the market across countries in this region. The U.S. is the largest contributor here. EnOcean has launched a wireless white label LED control device for lighting System. In North America, their target markets are schools, department stores, office buildings, and other existing buildings that can easily reclaim modern LED lighting controls in compliance with California's strict environmental laws. Asia-Pacific is expected to witness a fastest growth during the forecast period owing to the increasing need, demand, awareness, and adoption of energy harvesting System in this region.
Key Benefits for Global Energy Harvesting System Market Report
- Global Energy Harvesting System Market report covers in-depth historical and forecast analysis.
- Global Energy Harvesting System Market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market Opportunities, Competitive Analysis, Regional and Country Level.
- Global Energy Harvesting System Market report helps to identify opportunities in marketplace.
- Global Energy Harvesting System Market report covers extensive analysis of emerging trends and competitive landscape.
Energy Harvesting System Market By Regional & Country Level:
- Southeast Asia
Middle East and Africa
- Rest of Middle East and Africa
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