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| Global Energy Harvesting System Market Growth |
Energy harvesting systems extract energy from ambient sources like solar,
thermal or wind. These systems convert energy into usable electric energy that
can be utilized to power batteries and operate electronic devices in a
self-sustaining manner without the need for an external power source. Energy
harvesting solutions help reduce dependency on batteries and provide an
eco-friendly alternative to power electronic devices.
The
global Energy Harvesting System market is estimated to be valued at US$ 571.46 Mn in 2023 and is expected
to exhibit a CAGR of 7.7% over the
forecast period 2023 to 2030, as highlighted in a new report published by
Coherent Market Insights.
Market key trends:
One of the key trends in the Energy Harvesting System market is the rising
adoption of vibration-based energy harvesting solutions. Vibration-based energy
harvesters capture energy from ambient mechanical vibrations and convert it
into electrical energy. They utilize piezoelectric or electromagnetic
technologies to generate power. These solutions are gaining popularity for
powering wireless sensors, IOT devices and industrial equipment where perpetual
vibration is readily available as an energy source. Advancements in frequency
upconversion techniques and efficient packaging of piezoelectric materials are
helping improve the power output of vibration-based energy harvesters, thereby
fueling their adoption.
Segment Analysis
The global Energy Harvesting System market is dominated by the vibration energy
harvesting segment. Vibration energy harvesting involves the extraction of
energy from vibrations or mechanical motion in order to power small electronic
devices. This segment currently holds over 40% share of the overall market
owing to the wide application of vibration-based energy harvesting in IoT
sensors, wearable electronics, and wireless sensor networks. The demand for
self-powered small electronic devices is driving the adoption of vibration
energy harvesting systems.
Key Takeaways
The Global
Energy Harvesting System Market Growth is expected to witness high
growth, exhibiting CAGR of 7.7% over
the forecast period, due to increasing demand for alternative energy sources.
Regional analysis - North America
currently dominates the global market, accounting for over 30% share due to
high adoption of energy harvesting technologies across industries such as
aerospace & defense and automotive in the US and Canada. Asia Pacific is
expected to be the fastest growing region exhibiting a CAGR of around 9% during
the forecast period due to presence of emerging economies like China and India
with growing electronics industry.
Market size - The global Energy Harvesting System market size stood at US$ 571.46 Mn in 2023 and is projected
to reach over US$ 1 Bn by 2030. The rising need for powering wireless sensors
and IoT devices from ambient energy sources is driving the market growth.
Key players - Key players operating
in the Energy Harvesting System market are Piezo.com, Microchip Technology
Inc., Cypress Semiconductor Corporation, EPeas SA, Texas Instruments
Incorporated, EnoCean GmbH, STMicroelectronics NV, ABB Limited, Analog Devices
Inc., Powercast Corporation, and Advanced Linear Devices Inc. Major players are
focusing on product development to harvest energy from new sources like thermal
and light.
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