About Energy Harvesting System
Energy harvesting systems are referred as a system that is designed with the intention of energy harvesting also known as power harvesting, energy scavenging or the ambient power. Energy harvesting system obtains energy from external sources such as wind power, solar power, and kinetic energy or salinity gradients. The market of the energy harvesting system is increasing due to the rising demand for power-efficient, and durable systems which require minimum maintenance or no maintenance, whereas rising adoption of the wireless sensors network is also driving the market, but for the initial investment higher cost is require which can be a challenging for the growing market
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 10.74% |
Energy Harvesting Market is highly fragmented and is based on new product launches and clinical results of products. Hence the major players have used various strategies such as new product launches, clinical trials, market initiatives, high expense on research and development, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Energy Harvesting System market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
EnOcean GmbH (Germany), Mide Technology Corporation (United States), Lord Microstrain (United States), Cymbet Corporation (United States), Linear Technologies (United States), Infinite Power Solution Inc. (United States), Linear Technologies (United States), Cypress Semiconductor Corp. (United States), STMicroelectronics (Switzerland), Texas Instruments (United States) and Fujitsu (Japan) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are ABB Limited (Switzerland), Arveni (France), Murata Manufacturing Co. Ltd., (Japan) and Honeywell International Inc (United States).
Segmentation Overview
AMA Research has segmented the market of Global Energy Harvesting System market by Type (Light Energy Harvesting, Vibration Energy Harvesting, Thermal Energy Harvesting and RF Energy Harvesting), Application (Building & Home Automation, Consumer Electronics, Industrial, Transportation and Security) and Region.
On the basis of Type, Light Energy Harvesting are dominating the market in the year 2023On the basis of geography, the market of Energy Harvesting System has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. If we see Market by Component, the sub-segment i.e. Transducer will boost the Energy Harvesting System market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing use of hybrid methodologies to generate more output power and Increasing initiatives like green energy and other by the governments
Market Growth Drivers:
Increasing demand for power-efficient, and durable systems that require minimum or no maintenance, Rising adoption of wireless sensor networks equipped with energy harvesting system and Technological advancements in the field of energy harvesting
Restraints:
Limitations of remotely installed networking modules and Higher initial cost associated with energy harvesting system
Opportunities:
Ample growth opportunities are arising in the energy harvesting system market with advancements in nanotechnology which reduces the size of energy harvesting devices and makes them portable, which increases their adoption and enhances the market growth
Market Leaders and their expansionary development strategies
In September 2023, ASSA ABLOY Opening Solutions EMEIA announced its acquisition of Kinetron, a motion-based energy harvesting system for self-powered products, as part of its efforts to accelerate growth in digital access solutions.
In February 2023, Asahi Kasei Microdevices (AKM) launched a new DC-DC step-up converter with ultra-low power consumption that is able to boost low voltages, offering solutions for remote and battery-free operation as well as low-maintenance applications in the fields of asset monitoring and IoT.
Key Target Audience
Energy harvesting device manufacturers, Energy harvesting system developers, Secondary battery and capacitor manufacturers, Distributors and traders, Research organizations and Organizations, forums, alliances, and associations related to energy harvesting systems
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.