Energy Harvesting Systems Market Forecast Specifies Prime Growth by 2027

 Energy harvesting systems enable users to consume energy generated from mechanical load, heat, wind, or light. They operate on the principle of generating small amounts of energy from unconventional sources. One of the end-uses of energy harvesting systems includes regenerative braking systems employed in EVs. Notably, growing environmental concerns and subsequent focus on renewable energy sources have created a substantial demand for sustainable solutions, such as energy harvesting systems. Other benefits of these systems include easier maintenance, greater safety assurance, and more system efficiency. These factors have translated into the creation of a favourable business environment for the global energy harvesting systems market. In the coming years, norms to protect the environment, robust home automation, and a growing focus on sustainability are set to sustain growth in the energy harvesting systems market.

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 Rise in Adoption of Home Automation Systems to Open New Avenues for Growth

 

The integration of IoT technologies and wireless sensor networking (WNS) in home automation and control systems is anticipated to steer the global energy harvesting systems market towards fruition. Lately, sound deployment of home and building automation solutions has created tremendous opportunities in the energy harvesting systems market. Today’s intelligent homes rely heavily on advanced communication-based technologies, and therefore, have greater energy requirements than traditional homes. Growing emphasis on energy optimization and reducing carbon footprint are poised to create headways for installing energy harvesting devices and sensors. Moreover, the consumer perception of automated homes has taken a positive swing in the last few years. Therefore, the growing number of smart homes, coupled with a focus on energy efficiency, is creating promising outcomes in the global energy harvesting systems market.

Global Energy Harvesting Systems Market is Differentiated as Below:

By Technology

• Lights
• Vibration
• Radio Frequency
• Thermal

By Vibration Technology

• Piezoelectric
• Electromagnetic
• Electrostatic
• Electrodynamic

By Component Outlook

• Sensor
• Transducer
• Power Management IC (PMIC)
• Secondary/Backup Battery
• Others

By Application

• Consumer Technology
• Home & Building Automation
• Industrial
• Transportation
• Security
• Others

Geographical Coverage

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Growing Focus on Sustainable Energy Sources to Provide Tailwinds for Global Energy Harvesting Systems Market

Environmental concerns around the globe have led to transformational changes at the policy, commercial, and personal levels. The steadily rising demand for safe and eco-friendly energy sources has created positive dynamics for the global energy harvesting systems market. From an environmental standpoint, such systems are proving to be a lucrative alternative to battery-operated systems. While batteries are cleaner energy sources as opposed to oil and coal, their disposal is still an environmental and safety challenge. Contrarily, energy harvesting systems are highly effective in fulfilling modern consumers’ long-term, low-power, and self-sustaining energy requirements. During the forecast period, eco-friendly policies by governments are expected to augment the demand for energy harvesting systems.

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 North America to Gain Market Leadership Owing to Environment-Friendly Policies

Focus on sustainability, robust adoption of sophisticated technologies, and sound government support are set to put North America at the helm of the global energy harvesting systems market. The region has a significant number of smart homes with active home and building automation applications. It also has a high concentration of leading market players who are willing to invest in the R&D of innovative energy harvesting systems. The subsequent economic opportunities resulting from these factors are predicted to contribute to the growth of North America’s energy harvesting systems market.

 Key Market Players

ABB, Bionic Power, Inc., Schneider Electric, STMicroelectronics, EnOcean GmbH, Powercast Corp., Cymbet, Mahle GmbH, Analog Devices, Inc., and Texas Instruments, Inc are some of the prominent market players operating in the global energy harvesting systems market.

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