Press release
Energy Harvesting Systems Market to grow from a market value of USD 358.20 million in 2017 to USD 664.68 million by 2023| Major Vendors - Microchip Technology Inc., Fujitsu Limited, ABB Limited, Texas Instruments Incorporated, , Honeywell International In
Market Analysis:North America Dominated the Market
With the rapid technological developments, this region became the most critical market for building and home automation investments in 2016, which use renewable energy, and thus, drive the growth of the energy harvesting systems market.
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The green energy trend is effectually governing the market, while favorable initiatives by governments also boost the market on a global level. The combination of energy harvesting and ultra-low-power microcontroller units has augmented the wealth of applications that previously were not feasible. The ease of availability of such solutions is propelling their rate of adoption across the wide range of applications aggressively. Moreover, the abundance of renewable energy sources, including tidal, wind, and ocean energy, provide a dependable platform for the innovation of energy harvesting applications. Various organizations and governments have been using energy harvesting technology in the form of watermills, windmills, and solar power systems, to cater to the increasing energy demands across the globe. The building and home automation application of energy harvesting system market is likely to grow at a significant rate over the forecast period, due to the increasing adoption of energy harvesting devices in building and home automation equipment in the Americas and Europe.
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Market Segments:
Energy Harvesting Systems Market is segmented by:
1. Technology: Light Energy Harvesting, Vibration Energy Harvesting, Thermal Energy Harvesting, RF Energy Harvesting
2. Application: Consumer Electronics, Building & Home Automation, Industrial, Transportation, Others
3. Geography: North America, South America, Europe, Asia Pacific, Middle East & Africa
Key Developments in the Market
• December 2017 - Hager Group acquired German energy storage specialist E3/DC GmbH. The storage systems from E3/DC complemented their energy management offerings.
• February 2017 - The EnOcean Alliance, along with 14 of its members, presented energy harvesting wireless solutions for building automation and the Smart Home.
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