Energy Harvesting System Global Market Trends, Growth, Revenue, Regional Segmented, Outlook & Forecast Till 2026
Energy harvesting is the process of storing energy from light, sound, heat wind magnetic force, and vibration, which is then converted into an electric current and stored for later use. It is popular for its application across electro dynamo and solar cells, however, with the advancement in the technology its usages have expanded to various applications. Moreover, the most common type of energy sources for energy harvesting is thermal energy, mechanical energy, and solar radiation.
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Market Dynamics- Drivers:
The global energy harvesting market is expected to witness significant growth during the forecast period, owing to increasing government initiatives, in order to meet rising demand for energy and need to save energy for future use. Moreover, growing concern over climatic changes and global warming will further drive the market growth. For instance, according to the report released by the government of Hong Kong Special Administrative Region, in March 2019, the government launched solar harvest to support development of solar energy. According to the same source, the Electrical and Mechanical Services Department (EMSD) launched ‘Solar Harvest - Solar Energy Support Scheme for Schools and Welfare Non-Governmental Organizations’ with the aim of installing solar photovoltaic (PV) systems at eligible schools and welfare non-governmental organizations (NGOs).
Furthermore, emergence of advanced technologies such as Big Data and IoT are propelling the global energy harvesting market growth. Growing need for replacing batteries with autonomous power sensors, which require less maintenance are expected to drive the market growth. Moreover, energy harvesting finds applications in defense, wherein it is used to store solar, heat, and wind energy. For instance, according to the "Energy harvesting to power the rise of the Internet of Things” report, published in July 2017, the U.S. Army is using energy harvesting to reduce the weight of military backpacks by replacing batteries. It is currently testing a prototype of an “Energy Harvesting Backpack” that would recharge soldiers’ batteries due to their biomechanical energy liberated during walking.
Market Dynamic- Restraints
However, the application of energy harvesting is expected to remain limited due to its small conversion efficiency and low power capacities. Hence, the usage of energy harvesting will remain limited to low-power consuming devices, which is expected to restrain growth of the global energy harvesting market.
Energy Harvesting System Market Regions Analysis:
Market Segment by Regions, this report splits Global into several key Regions, with production, consumption, revenue, market share and growth rate of Energy Harvesting System in these regions, from 2019 to 2026 (forecast)
One of the important factors in Energy Harvesting System Market report is the competitive analysis. The report covers all the key parameters such as product innovation, market strategies of the key players, market share, revenue generation, latest research and development, and market expert views.
Key players operating in the global energy harvesting market are SoftServe, EnOcean, ZigBee, Cymbet Corporation, ABB Limited, and Lightricity.
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The regional analysis of global Energy Harvesting System Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. The Asia Pacific is the leading region across the world. Increase in investment toward Energy Harvesting System, especially in countries such as China, Japan, and South Korea is driving the market in this region. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2019-2026. Factors such as rising investments wide range of applications, easy availability and scarcity of skilled workers would create lucrative growth prospects for the Energy Harvesting System Market across Asia-Pacific region.
• In August 2015, Cypress Introduced the World's Lowest-Power Energy Harvesting Power Management ICs for Battery-Free Wireless Sensor Nodes
• In May 2019, SoftServe and Lightricity entered into a partnership to innovate power harvesting technology. SoftServe will use power harvesting techniques to develop solutions to make electronic devices more power-efficient, prolong their lifetime, and make maintenance easier.
• In Mar 2016, ZigBee entered into a partnership with EnOcean to extend energy harvesting benefits of self-powered energy-harvesting products and applications to the global IoT market
In conclusion, the Energy Harvesting System report offers a wide range of information both in terms of qualitative and quantitative. It provides in-depth analysis of the Energy Harvesting System market, including dealers, distributors, contributors along with research findings, appendix and data sources.
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