Energy Harvesting System Market Will Reach $659.6 Million by 2023, Growing at a CAGR of 11.0% During 2018 – 2023

The global energy harvesting system market is expected to reach $659.6 million by 2023, growing at a CAGR of 11.0% during 2018–2023. Growing measures to reduce carbon footprints, lower dependence on fossil fuels, rising adoption of IoT and big data, and growing demand for power-efficient systems are some of the major factors driving the growth of the market.

Request for a free sample copy of this research report @ https://www.psmarketresearch.com/market-analysis/energy-harvesting-market/report-sample

Of all applications of energy harvesting systems, building and home automation has been contributing the highest revenue globally, with an estimated contribution of more than 35% in 2017. It is also expected to be the fastest growing category during the forecast period. This is due to rapid increase in implementation and installation of sensor-based technologies, and increase in demand for energy efficient power systems, from residential and commercial sectors.

Energy harvesting system market is developing well, and IoT and big data technologies have given it a real impetus. It is generally considered as the abstraction of operational power from the atmosphere to decrease the requirement of external power sources or batteries. Habitually, electricity is utilized to achieve some active sensing and interconnect the sensor data wirelessly over local area network (LAN) or wide-area network (WAN). In the coming years, millions or billions of devices are going to be connected to the internet. It is not surprising to allude that energy harvesting will be highly beneficial for IoT applications. The emergence of new energy harvesting techniques has been proven to drive energy in ultra-low power applications. This provides immense growth opportunities to the energy harvesting system market across the globe.

Europe has been contributing the largest revenue share to the energy harvesting system market, followed by North America. It is mainly attributed to the rise in automation of buildings and homes, and rapid growth of the industrial automation sector in these regions.

Explore report description @ https://www.psmarketresearch.com/market-analysis/energy-harvesting-market

Some of the key players in the energy harvesting system market are Arveni, Convergence Wireless, Cymbet Corporation, Powercast Corporation, Texas Instruments Incorporated, Fujitsu Group, ABB Ltd., Honeywell International Inc., STMicroelectronics N.V., EnOcean GmbH, Voltree Power, Inc., Bionic Power, Inc., Energy Partners, and Yantra Harvest Energy Private Limited.

About P&S Intelligence

P&S Intelligence, a brand of P&S Market Research, is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.

Contact Information:

P&S Market Research
347, 5th Ave. #1402
New York City, NY - 10016
Toll-free: +1-888-778-7886 (USA/Canada)
Email: enquiry@psmarketresearch.com
Web: www.psmarketresearch.com

This release was published on openPR.